Short Sales

Fannie Mae Announces Miscellaneous Servicing Policy Updates

by BuckleySandler LLP on 4/2/2013

On March 27, Fannie Mae issued Servicing Guide Announcement SVC-2013-06, which announces policy updates regarding (i) redelivery of balloons, (ii) property value ordering process, and (iii) Mortgage Release and REOgram...more

FSA’s Proposal to Amend the Existing Laws and Regulations with respect to Short Sales

by Tomoko Fuminaga, Norifusa Hashimoto, Koichiro Ohashi, Christopher P. Wells | White & Case LLP on 3/21/2013

On March 7, 2013, the Financial Services Agency of Japan (the “Japan FSA”) announced that it is considering amending certain aspects of the existing rules and regulations governing short sales by November 2013. This Client...more

One-Day Prohibition Imposed on Short Selling of Four Italian Shares

by Tim Aron, Edward Black | Katten Muchin Rosenman LLP on 3/7/2013

On February 27, the UK Financial Services Authority (FSA) announced that it had prohibited short selling of the shares of four named Italian financial institutions for the duration of the February 27 trading day. The...more

FSA Temporary Prohibition on Short-Selling of Certain Italian Shares

by Orrick - Structured Finance Group on 3/6/2013

On February 27, the FSA published a statement announcing an immediate temporary ban on the short selling of shares in four Italian companies – Banco Popolare, Mediolanum, Intesa and Banca Carige. The prohibition was announced...more

Orrick's Financial Industry Week In Review - March 4, 2013

by Orrick, Herrington & Sutcliffe LLP on 3/4/2013

In This Issue: *Financial Industry Developments - Amendments to Fed and OCC Foreclosure Consent Orders - Fed Proposed Rule on Systemically Important Financial Market Utilities - Rating Agency...more

Corporate and Financial Weekly Digest - March 1, 2013

by Katten Muchin Rosenman LLP on 3/4/2013

In this issue: - Recent SEC Speeches Focus on Investor Protection and Disclosure - SEC 2013 Examination Priorities - CFTC Revises Clearing Compliance Schedule for iTraxx CDS Indices - SEC Division...more

Florida Senator Soto Files Four Bills to Counter Pending HB 87 Foreclosure Reform Act

by Rosa Eckstein Schechter on 3/1/2013

While HB87 continues through the Florida statehouse, the foreclosure reform bill filed by State Rep. Kathleen Passidomo, Florida State Senator Darren Soto has now filed not one or two, but four separate foreclosure-related...more

Short Selling Regulation: ESMA Call for Evidence

by Orrick - Structured Finance Group on 2/21/2013

On February 12, the European Securities and Markets Authority (ESMA) published a call for evidence in order to evaluate the effects of the Short Selling Regulation. The call for evidence was published in response to the...more

Orrick's Financial Industry Week In Review - February 19, 2013

by Orrick, Herrington & Sutcliffe LLP on 2/19/2013

In This Issue: - Financial Industry Developments •CFPB Implementation Plan for Mortgage Rules •FDIC Proposed Rule on Insured Deposits at Foreign Branches of U.S. Banks •CFPB Bulletin on Servicers'...more

ESMA Publishes Further Update of Short Selling Regulation Questions and Answers

by Tim Aron, Edward Black | Katten Muchin Rosenman LLP on 2/8/2013

On January 30, the European Securities and Markets Authority (ESMA) published a second updated version of its questions and answers EU Regulation on Short Selling and Certain Aspects of Credit Default Swaps (EU236/2012) (the...more

Spanish Short Sales Ban Ends, Greek Ban Continues

by Edward Black | Katten Muchin Rosenman LLP on 2/8/2013

On January 31, the Spanish securities regulator, the Comisión Nacional del Mercado de Valores (CNMV), announced that the prohibition on short sales of Spanish shares under the EU Short Selling Regulation (EU236/2012) would...more

ESMA Questions and Answers on Short Selling

by Orrick - Structured Finance Group on 2/5/2013

On January 30, the European Securities and Markets Association (ESMA) published the second update to its questions and answers on the implementation of the Short Selling Regulation (the SSR)....more

Insolvency Legislative Update - February 2013

by Gary Kaplan | Farella Braun + Martel LLP on 2/5/2013

California enacted a number of pieces of legislation over the last year or so of great importance to insolvency professionals. These include bills impacting mortgage foreclosures, sales of tax-defaulted property, wage...more

Orrick's Financial Industry Week in Review - February 4, 2013

by Orrick, Herrington & Sutcliffe LLP on 2/5/2013

In This Issue: *Financial Industry Developments - SEC Extends Exemptions for Security-Based Swaps - Fed Announces Release Dates for Results of Supervisory Stress Tests and CCAR - Rating Agency Developments...more

Federal Help to Get Residential Real Estate Market Back on Track: 2 New Programs to Resolve Mortgage Issues Debut for Freddie Mac,...

by Rosa Eckstein Schechter on 1/30/2013

The federal government, through the Federal Housing Finance Agency which oversees Freddie Mac and Fannie Mae, continues to find ways to resolve the Housing Crisis and news this week is that two new, big programs that are...more

Skadden's 2013 Insights: Financial Regulation

by Skadden, Arps, Slate, Meagher & Flom LLP on 1/21/2013

In the U.S., Europe and Asia, 2012 saw measured progress in the implementation of recent regulatory reforms, the Basel capital rules, the deleveraging of the financial services firms and deliberations about the role of...more

Levick Weekly - January 11, 2013: Bank Of America Is At The Crossroads (Again)

by Gene Grabowski, Richard S. Levick, Kathleen Wailes | LEVICK on 1/13/2013

In This Issue: - Herbalife Speaks For Itself As Ackman And Loeb Duke It Out - Lance Armstrong: Coming Clean Won’t Be Enough - Bank Of America Is At The Crossroads (Again) - White Collar Enforcement In 2013...more

Mortgage Forgiveness Act Extended

by Michele Bowman | Lawyers.com on 1/8/2013

As part of the law passed as a last minute escape of the so-called fiscal cliff, Congress extended the Mortgage Forgiveness Debt Relief Act to the great relief of homeowners who’ve suffered foreclosure....more

Fiscal Cliff and Florida Real Estate Deals: Two Key Income Tax Exemptions Have Survived the Cliff - Good News for Florida's Real...

by Rosa Eckstein Schechter on 1/7/2013

Today, the impact of the legislation passed by the House and Senate and autopenned into law by President Obama is still being digested and the entirety of its impact is still being analyzed for its impact on businesses,...more

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