 | Client Alert: SEC Issues Emergency Order Suspending "Naked" Short Selling
23 July 2008 - On July 15, 2008, the Securities and Exchange Commission (SEC) issued an emergency order (the "Emergency Order") prohibiting anyone from engaging in the "naked" short selling of the securities of Fannie Mae, Freddie Mac and seventeen other financial firms identified in Appendix A to the Emergency Order (the "Appendix A Securities"). Read >>
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| Financial Services Regulatory & Enforcement Update: Federal Reserve Board Issues Final Rule Addressing Mortgage Lending and Servicing Practices under Regulation Z
21 July 2008 - On July 14, 2008, the Board of Governors of the Federal Reserve System (the "FRB") issued a final rule (the "Final Rule") amending Regulation Z and the FRB's Official Staff Commentary, both of which implement the Truth in Lending Act (TILA). Read >>
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| SEC Proposed Liberalizing Amendments to Rule 15a-6 (Cross Border Regulation of Broker Dealers)
14 July 2008 - On June 27, 2008, the US Securities and Exchange Commission (the "SEC") published proposed amendments (the "Proposal") that, if adopted, will significantly liberalize Rule 15a-6under the Securities Exchange Act (the "Exchange Act"). Read >>
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| Client Alert: FDIC and FSA Sign Agreement to Increase Cooperative Cross-Border Framework for Emergency Planning and Action
8 July 2008 - The Federal Deposit Insurance Corporation (FDIC) and the United Kingdom's Financial Services Authority (FSA) signed a memorandum of understanding (MOU) on June 25, 2008, providing for increased information-sharing and coordinated regulatory efforts to address future emergency situations in connection with cross-border banking activities. Read >>
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| Client Alert: SEC to Propose Liberalizing Changes to Securities Exchange Act Rule 15a-6
26 June 2008 - At an open meeting convened on June 25, 2008, the US Securities and Exchange Commission (SEC) approved the issuance for public comment of liberalizing amendments to Rule 15a-6 under the Securities Exchange Act of 1937 (the "Exchange Act"). Read >>
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| Client Alert: FDIC Policy Statement on Covered Bonds
28 May 2008 - An interim final policy statement issued on April 23, 2008, indicates how the Federal Deposit Insurance Corporation (FDIC) will treat covered bonds issued by an insured depositary institution (IDI) in a conservatorship or receivership of the issuer. Read >>
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| Client Alert: Two Recent Decision Impact Mutual Fund Fees and Income Interest Taxability
22 May 2008 - The US Court of Appeals for the Seventh Circuit and the US Supreme court issued decisions in two important cases impacting mutual funds. Read >>
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| Client Alert: Vietnam: The Regulation on Opening and Closing of Branches and Representative Offices of Non-Bank Credit Institutions
13 May 2008 - On 9 January 2008, the State Bank of Vietnam issued Decision No. 01/2008/QD-NHNN relating to the opening and closing of operation of branches and representative offices of Non-Bank Credit Institutions (NBCI) ("Decision 01"). Read >>
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| Client Alert: Thailand Standardises Laws on Financial Institutions
9 May 2008 - A new Financial Institutions Business Act B.E. 2551 (the "Act") has been approved by Thailand's National Legislative Assembly, and will become effective on 3 August 2008. Read >>
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| Disclosure Better than Limiting Credit
9 May 2008 - Last week Sen. Dodd offered a brief summary of his Credit Card Accountability Responsibility and Disclosure Act. Read >>
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| Financial Services Regulatory & Enforcement Update: SEC Proposed Amendments to its Privacy Rules (Regulation S-P)
8 April 2008 - The Securities and Exchange Commission (SEC) is proposing to amend Regulation S-P to require broker-dealers, investment companies, registered investment advisers and registered transfer agents to adopt comprehensive information security programs. Read >>
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| Client Alert: Stoneridge Investment Partners v. Scientific-Atlanta, Inc., No. 06-43
15 January 2008 - In a case argued by Mayer Brown partner Stephen Shapiro and previously described by the Wall Street Journal as "the biggest securities-litigation court clash in a generation," the Supreme Court today affirmed that third parties who do not themselves mislead investors cannot be held liable for damages under Section 10(b) of the Securities Exchange Act even if their conduct facilitates the fraud of another. Read >>
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