Corporate and Financial Weekly Digest - Volume X, Issue 1

In this issue:

- SEC Proposes Rule Amendments to Implement JOBS Act Registration Thresholds

- ISS Releases FAQs on Equity Plan Scorecard and Independent Chair Policy

- FINRA Issues Annual Regulatory and Examination Priorities Letter for 2015

- SEC Approves FINRA Rule Proposal Regarding Responsibilities of FINRA Member Firms to Investigate Applicants for Registration

- SEC Approves Amendments to NASD Rule 2340 and FINRA Rule 2310 to Address Values of Direct Participation Program and Unlisted Real Estate Investment Trust Securities

- CME Strikes Revisions to Wash Trade Advisory Notice Regarding Block Trades

- CFTC Staff Extends No-Action Relief for Certain FCMs from Receipt of Depository Acknowledgment Letters

- CFTC Staff Grants No-Action Relief to Entities Operating Insurance-Linked Securities Issuers

- ICE Futures U.S. Adopts Disruptive Trading Practices Rule

- CFTC Staff Issues Guidance Regarding Chief Compliance Officer Annual Reports

- CFTC Staff Issues No-Action Relief Extending the Deadline for Certain CCO Annual Reports

- CFTC Allows Swap Dealer’s CCO to Report to the Governing Body

- Supreme Court Clarifies Class Action Removal Pleading Standard

- SEC Charges Chilean Citizens With Insider Trading Concerning Tender Offer for Chilean

- Agencies Release Annual CRA Asset-Size Threshold Adjustments for Small and Intermediate

- FDIC Releases Guidance on Brokered Deposits in the Form of FAQs

- FCA to Regulate Seven Additional Financial Benchmarks

- New Fund Marketing Rules in Switzerland

- Excerpt from SEC Proposes Rule Amendments to Implement JOBS Act Registration Thresholds:

On December 18, 2014, the Securities and Exchange Commission proposed rule amendments that, if adopted, would modify SEC rules governing registration under Section 12(g) of the Securities Exchange Act of 1934 (Exchange Act), termination of registration under Section 12(g) of the Exchange Act and suspension of reporting obligations under Section 15(d) of the Exchange Act to reflect the thresholds enacted by Titles V and VI of the Jumpstart Our Business Startups Act (JOBS Act). Titles V and VI of the JOBS Act, which became effective upon adoption, raised the threshold for registration from 500 holders of record and total assets exceeding $1 million to either 2,000 holders or (except for banks and bank holding companies) 500 holders who are not accredited investors and total assets exceeding $10 million. The JOBS Act also raised the threshold at which a bank or bank holding company (but not other registrants) may terminate or suspend the registration of a class of its securities under the Exchange Act from 300 to 1,200 persons.

Please see full Newsletter below for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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