Regulation M

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Financial Services Weekly News Roundup - September 2014 #2

In this Issue: Last week brought news of several enforcement actions by the SEC against investment advisers on a number of issues: Rule 105 of Regulation M, improper withdrawals characterized as management fees, violation of...more

Fed and CFPB Announce Thresholds for Regulation Z and Regulation M Exempt Consumer Credit and Lease Transactions

On September 9, the Fed and CFPB announced increases in the dollar thresholds in Regulation Z (Truth in Lending) and Regulation M (Consumer Leasing) for exempt consumer credit and lease transactions. These increases are...more

Federal Reserve, CFPB Announce Increased Consumer Credit, Lease Transaction Thresholds

On September 9, the Federal Reserve Board and the CFPB announced an increase in the dollar thresholds in Regulation Z and Regulation M for exempt consumer credit and lease transactions. Transactions at or below the thresholds...more

SEC Continues Its “Strict Liability” Enforcement Campaigns, Focusing on Filing Failures and Rule 105 Violations

Nearly five years ago, the SEC launched an extensive "crackdown" on violations of Rule 105 of Regulation M, which prohibits short selling securities and then participating in secondary offerings of the same securities within...more

Federal Reserve and CFPB Announce Increases in Dollar Thresholds in Regulations Z and M for Exempt Consumer Credit and Lease...

On September 9, the Federal Reserve Board and the Consumer Financial Protection Bureau (CFPB) announced increases in the dollar thresholds in Regulation Z (Truth in Lending) and Regulation M (Consumer Leasing) for exempt...more

Financial Regulatory Developments Focus - September 2014 #3

In this issue: - Derivatives - Consumer Protection - Enforcement - People - Events - Excerpt from Derivatives: CFTC Issues No-Action Relief for Qualifying Swaps Trading...more

Corporate and Financial Weekly Digest - Volume IX, Issue 36

In this issue: - Bylaw of Delaware Corporation Providing for Exclusive Forum in North Carolina Upheld - FINRA Board to Consider Rule Proposals Regarding Private Trading Platforms - CBOE and C2 in...more

Truth in Lending Act and Consumer Leasing Act Dollar Thresholds Raised: Fewer Transactions Exempt

More consumer credit and leasing transactions will be subject to the Truth in Lending Act (TILA) and Consumer Leasing Act (CLA) in 2015. Effective January 1, 2015, the dollar threshold for exemption of most consumer...more

CFPB and Fed announce increases in Regs Z and M 2015 dollar thresholds

The CFPB and Fed have announced increases in the dollar thresholds in Regulation Z (Truth in Lending Act) and Regulation M (Consumer Leasing Act) for exempt consumer credit and lease transactions. The adjustments reflect the...more

The SEC and Omnipresent Enforcement

A key part of the new “get tough” enforcement doctrine is omnipresence – that is, creating the impression that the SEC’s Division of Enforcement is everywhere all the time. This theory, a variation of the “cop on the beat”...more

A Guide to Regulation M: Regulating Market Activity During a Public Offering

Regulation M is intended to prevent potentially manipulative practices by underwriters, issuers, selling security holders and other participants in securities offerings. Understanding the key aspects of Regulation M is...more

FTC Settles Nine Auto Dealer Deceptive Advertising Cases

The Federal Trade Commission announced last week that it had entered into proposed consent orders with nine auto dealers in six states that were charged with deceptive advertising in violation of Section 5 of the FTC Act....more

CFPB Issues Final Rules, Interpretations and Commentary to Adjust the Exemption Threshold to Regulations M and Z

On Monday, November 25, 2013, the Consumer Financial Protection Bureau (the “Bureau”) issued final rules amending its Regulation Z (Truth In Lending) and Regulation M (Consumer Leasing) in accordance with the requirements of...more

Federal Reserve and CFPB Announce New Thresholds for Exempt Consumer Credit and Lease Transactions

On November 20, the Federal Reserve Board and the Consumer Financial Protection Bureau (CFPB) announced they are increasing the dollar thresholds in Regulation Z (Truth in Lending) and Regulation M (Consumer Leasing) for...more

Federal Reserve, CFPB Announce Increased Consumer Credit, Lease Transaction Thresholds

On November 20, the Federal Reserve Board and the CFPB announced an increase in the dollar thresholds in Regulation Z (TILA) and Regulation M (Consumer Leasing) for exempt consumer credit and lease transactions. Transactions...more

Your Guide to Purchases by Directors in an IPO

You are working on the IPO of Genco, a diversified agribusiness with exciting new technology set to revolutionize the production of olives. Members of the Board of Directors like the stock (and the olive oil), and want to...more

SEC: Zero Tolerance for Short Selling Violations

On September 17, 2013, the Securities and Exchange Commission (the “SEC”) announced enforcement actions against 23 firms for violations of Rule 105 of Regulation M. Rule 105 prohibits the purchase of securities in a follow-on...more

SEC Staff Issues Guidance Regarding Compliance with Limitations on Participation in Follow-On and Secondary Offerings Imposed on...

The SEC’s Office of Compliance Inspections and Examinations issued a National Exam Program Risk Alert (the “Risk Alert”) highlighting compliance issues relating to Rule 105 of Regulation M of the Securities Exchange Act of...more

Recent SEC Enforcement Actions Put Spotlight On Prohibited Short Selling

Recent SEC enforcement actions demonstrate the SEC’s increased focus on violations of Rule 105 of Regulation M. On September 17, 2013, the Securities and Exchange Commission (the SEC) announced enforcement actions...more

Recent SEC Enforcement Actions Suggest Continued Attention to Rule 105 of Regulation M

On September 16, 2013, the Securities and Exchange Commission (“SEC”) charged over 20 firms with violations of Rule 105 of Regulation M of the Securities Exchange Act of 1934 (“Rule 105” or “the Rule”), which prohibits the...more

A Compilation of Enforcement and Non-Enforcement Actions - September 30, 2013

Non-Enforcement Matters - SEC to Monitor Fund Performance Claims - Suit Against Exchange Traded Funds’ Investment Adviser Dismissed - Counterparty Risk Management Practices for Mutual...more

Don’t Short Before The Deal, SEC Reminds Hedge Funds And Buyside Firms

On September 17, 2013, the Securities and Exchange Commission (SEC) announced enforcement actions against 23 investment firms for violations of Rule 105 of SEC Regulation M. Rule 105 generally prohibits short selling...more

Renewed Focus on an Old Rule: SEC Steps Up Rule 105 Enforcement Efforts

On September 17, 2013, the Securities and Exchange Commission (SEC or “Commission”) announced settled enforcement actions against 23 firms for short selling in violation of Rule 105 of Regulation M, which limits the ability...more

Corporate Finance Alert: Share Repurchases

In recent months, a number of companies have repurchased or announced plans to repurchase their shares. Management and boards of directors overseeing companies with significant cash stockpiles yet finding fewer mechanisms to...more

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