Developments in Securities Regulation, Corporate Governance, Capital Markets, M&A and Other Topics of Interest

FDIC Considers New Deposit Insurance Assessment Authority


As part of the implementation of the Dodd Frank Wall Street Reform and Consumer Protection Act, the Federal Deposit Insurance Corporation held a roundtable discussion on September 24, 2010.  The discussions centered on the new deposit insurance assessment authority granted to the FDIC.  Industry executives, trade association representatives, and others... Read More

Topics: Banking

PCAOB, GAAS and Broker-Dealers


The SEC has issued interpretive guidance regarding the meaning of the term “generally accepted auditing standards” (“GAAS”) after adoption of the Dodd-Frank Act.  Section 982 of the Dodd-Frank Act amended the Sarbanes-Oxley Act of 2002  to authorize the Public Company Accounting Oversight Board (“PCAOB”), among other things, to establish, subject... Read More

Topics: Banking, Public Companies and Securities

Consumer Financial Protection Bureau Gets Underway


Pursuant to the Consumer Financial Protection Act of 2010 (“CFP Act”), which is part of the Dodd-Frank Act, the Secretary of the Treasury has designated July 21, 2011, as the date for the transfer of functions to the Bureau of Consumer Financial Protection (“CFPB”).  On this “designated transfer date,” certain... Read More

Topics: Uncategorized

Chairman Sheds Light on CFTC Rulemakings in Remarks to Chamber of Commerce


In remarks before the U.S. Chamber of Commerce yesterday, CFTC Chairman Gary Gensler discussed several aspects of the Commission’s implementation of the Dodd-Frank Act. According to the Chairman, the Commission is following two guiding principles with respect to its rule-writing process. The first principle, which should come as no surprise,... Read More

Topics: Banking, Derivatives, Energy, Insurance

SEC Rulemaking Schedule Addresses Derivatives Trading


The SEC’s recently released rulemaking schedule for implementation of the Dodd-Frank Act includes a schedule for implementing the derivatives trading provisions of the Act. Generally speaking, the agency plans to propose derivatives trading rules during the period from October to December 2010, including rules to address the following: – Definitions... Read More

Topics: Banking, Derivatives, Energy, Insurance, Uncategorized

More 14a-11 Examples


Filings by public companies continue to include references to Rule 14a-11, which permits shareholders to nominate a director and include the nomination in the registrant’s proxy statement.  In the last several days we have noted the following:  LAM Research Proxy (filed September 13, 2010)  Proposals Submitted under SEC Rules. Stockholder-initiated... Read More

Topics: Public Companies and Securities