Prospectus

Corporate Aspects of the UK Financial Services Act 2012

by Sergey Kvitkin, Iain Wright, William Yonge | Morgan Lewis on 4/12/2013

Long-heralded reform of the UK financial services regulation architecture impacts the listed company regime. On 1 April, a new financial regulation architecture became operative in the UK through the Financial...more

ESMA Publishes Draft Standards for Prospectus Supplements

by Gemma Formby, Iain Wright | Morgan Lewis on 3/26/2013

Aim of proposed regulatory technical standards and consultation paper is to clarify the list of events that will trigger the automatic requirement for a supplement....more

The FSA and ESMA Get Technical on Prospectuses

by Jeremy C. Jennings-Mares, Lewis Gavin Lee | Morrison & Foerster LLP on 3/21/2013

The Prospectus Directive (the “PD”) and the Prospectus Directive Regulation (the “PD Regulation”) were recently amended, in each case with effect from 1 July 2012. These new rules introduced a number of significant changes...more

UK Financial Services Authority Releases Draft Handbooks for New Regulators

by Iain Wright, William Yonge | Morgan Lewis on 3/12/2013

Handbooks for Financial Conduct Authority and Prudential Regulation Authority will replace FSA Handbook on 1 April. On 8 March, the UK Financial Services Authority (FSA) published draft handbooksfor the two new...more

Court Confirms That S. 130 Of The Ontario Securities Act Applies Only To Primary Market Purchasers

by Michael Beeforth | Dentons on 2/22/2013

In the recent decision of Tucci v. Smart Technologies Inc. (2013 ONSC 802), Justice Perell confirmed that the statutory cause of action for misrepresentation in a prospectus (set out in s. 130(1) of the Ontario Securities...more

Crowdfunding Alert: OSC Extends Comment Period For New Prospectus Exemptions

by Andrea C. Johnson | Dentons on 2/11/2013

The Ontario Securities Commission (“OSC”) is actively taking steps to make capital raising easier for start-ups. In late 2012, the OSC published Staff Consultation Paper 45-710, seeking feedback on proposed new prospectus...more

Structured Thoughts -- Volume 4, Issue 1 -- January 16, 2013

by Bradley Berman, Lloyd S. Harmetz, Anna T. Pinedo | Morrison & Foerster LLP on 1/17/2013

In This Issue: Additional SEC Guidance on Estimated Value Disclosures; FINRA to Continue Its Focus on Structured Products; FINRA’s Ketchum Discusses Structured Products; FINRA Issues Q&A Guidance on New Communications...more

New York Federal Court Denies BofA’s Motion for Reconsideration in FHFA Case

by Orrick - Structured Finance Group on 1/10/2013

On December 18, 2012, Judge Denise Cote of the United States District Court for the Southern District of New York denied Bank of America’s motion for reconsideration of the denial of its motion to dismiss claims brought by...more

Ninth Circuit Applies Heightened Twombly/Iqbal Pleading Standard to Allegations of Tracing in a Section 11 Claim

by John Stigi | Sheppard Mullin Richter & Hampton LLP on 1/9/2013

In In re Century Aluminum Co. Securities Litigation, No. 11-15599, 2013 U.S. App. LEXIS 24 (9th Cir. Jan. 2, 2013), the United States Court of Appeals for the Ninth Circuit affirmed the dismissal of a claim for violations of...more

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