In Pruett v BlueLinx Holdings, Inc., decided by the United States District Court for the Northern District of Georgia (1:13-cv-02607), the court held that a whistleblower suing under Dodd-Frank’s non-retaliation provisions...more
The Financial Stability Oversight Council, or FSOC, decided to study the activities of asset management firms to better inform its analysis of whether—and how—to consider such firms for enhanced prudential standards and...more
It began with announcements like this from AngelList. For just $99 plus $25 per investment, wefunder will let you create a create a “beautiful profile” and send updates to followers, and provide free investment contracts,...more
The SEC has proposed rules related to pay ratio disclosures required by Section 953(b) of the Dodd-Frank Wall Street Reform and Consumer Protection Act. It works like this...
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Norm Champ, the SEC’s Director of the Division of Investment Management, recently gave a speech addressing the SEC’s priorities regarding hedge fund managers.
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Three swap data repositories, or SDRs, have announced procedures to make filings for the swap end-user exception. Apparently you file with the SDR that the swap is reported to.
The three SDRs are...more
Six federal agencies have issued a notice revising a proposed rule requiring sponsors of securitization transactions to retain risk in those transactions. The new proposal revises a proposed rule the agencies issued in 2011...more
The SEC has charged a former portfolio manager at Oppenheimer & Co. with misleading investors about the valuation and performance of a fund consisting of other private equity funds. ...more
Three federal bank regulatory agencies are seeking comment on proposed guidance describing supervisory expectations for stress tests conducted by financial companies with total consolidated assets between $10 billion and $50...more
The SEC recently issued proposals related to Regulation D which, among other things, require a Form D to be filed fifteen days before a general solicitation under Rule 506(c) can commence....more
The SEC suggests in its final rules eliminating the ban on general solicitation that law firms may be in a position to verify accredited investor status for issuers conducting Rule 506(c) offerings. ...more
7/26/2013
/ Accredited Investors ,
Advertising ,
Dodd-Frank ,
Final Rules ,
General Solicitation ,
Marketing ,
Regulation D ,
Rule 144A ,
Rule 506 Offerings ,
Securities and Exchange Commission (SEC) ,
Verification Requirements
The United States District Court for the District of Columbia has upheld the SEC’s conflict minerals rule in National Association of Manufacturers et al v. Securities and Exchange Commission. ...more
The Fifth Circuit has held in Asadi v. G.E. Energy (USA), LLC that a whistleblower must provide information to the SEC in order to be protected by the Dodd-Frank anti-retaliation provisions. ...more
The SEC has adopted final rules to implement Section 926 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Section 926 required the SEC to adopt rules that disqualify securities offerings involving certain...more
The SEC has adopted final rules eliminating the ban on general solicitation and advertising in Rule 506 offerings. The changes are mostly embodied in new Rule 506(c)....more
FSOC has designated the following as nonbank financial companies...more
The SEC has denied granting an award to another whistleblower in the second action of this year....more
The CFPB has published a final rule that establishes procedures to implement section 1024(a)(1)(C) of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010....more
The Center for Capital Markets Competitiveness, an arm of the U.S. Chamber of Commerce, has sent a letter to the CFPB complaining about its data collection efforts....more
The Office of Financial Research, or OFR, was created by the Dodd-Frank Act. It recently published a paper with the title “How Likely is Contagion in Financial Networks?” ...more
The Federal insurance Office, or FIO, which was established by the Dodd-Frank Act, has issued its annual report. ...more
Broc Romanek of TheCorporateCounsel.net recently described a member’s concerns that some companies were having on relying on the Dodd-Frank Act’s exemption for end-users for swaps entered into by treasury subsidiaries and...more
In Murray v. UBS Securities LLC et al (12-CV-5914 S.D.N.Y.) the court found that an employee who reports violations of securities laws to his supervisor, but not the SEC, is entitled to the anti-retaliation protections for...more
A new study sponsored by the American Enterprise Institute on the impact of Dodd-Frank on community banks has been published. The study notes...more
James R. Wigand, Director, Office Of Complex Financial Institutions and Richard J. Osterman, Jr., Acting General Counsel, of the FDIC testified before the Subcommittee on Oversight and Investigations; Committee on Financial...more