In this issue:

- New Disclosure Requirements Imposed in Connection with Iran Sanctions

- CFTC Proposes Inter-Affiliate Clearing Exemption

- CFTC Issues Temporary No-Action Relief for Trade Options

- CFTC Issues Guidance on Compliance Obligations for CPOs and CTAs

- New York Court Adopts Delaware Test for Determining Direct and Derivative Claims

- Second Circuit Addresses Standard for SEC Aider and Abettor Actions

- LIBOR Review Discussion Paper Published

An excerpt from "New Disclosure Requirements Imposed in Connection with Iran Sanctions"

On August 10, President Obama signed into law the Iran Threat Reduction and Syria Human Rights Act of 2012 (the Act), which expands and establishes additional sanctions with respect to Iran, including sanctions relating to energy, development of weapons of mass destruction, certain activities of financial institutions, and human rights abuses. In addition to an increase in sanctions, the Act includes new mandatory disclosure requirements under the Securities Exchange Act of 1934 (the Exchange Act).