By Josh Lawler and Joel B. Ginsberg of Zuber & Taillieu LLP
The U.S. Court of Appeals for the Second Circuit dismissed a putative antitrust case relating to short sale transactions on the grounds that federal securities laws precluded the application of antitrust laws to short sale transactions. The case, Electronic Trading Group LLC v. Banc of America Securities LLC (aka In… More...
The Financial Industry Regulatory Authority, Inc. (“FINRA”) (f/k/a National Association of Securities Dealers, Inc. (“NASD”)) has filed with the Securities and Exchange Commission (“SEC” or “Commission”) a proposed amendment to Rule 12602 of the Code of Arbitration Procedure for Customer Disputes (“Customer Code”) and Rule 13602 of the Code of Arbitration Procedure for Industry Disputes (“Industry Code”) (together, “Codes”). More...
The U.S. Securities and Exchange Commission (“SEC,” or “Commission”) has laid down its position regarding global accounting standards to clarify that it continues to believe that a single set of high-quality globally accepted accounting standards would benefit U.S investors. More...
The Securities and Exchange Commission (“SEC,” or “Commission”) has adopted a new rule to place certain restrictions on short selling when a stock is experiencing significant downward price pressure. More...
The Securities and Exchange Commission (“SEC”, or “Commission”) has adopted amendments to the proxy rules under the Securities Exchange Act of 1934 to set forth certain requirements for U.S. registrants subject to Section 111(e) of the Emergency Economic Stabilization Act of 2008. More...
The Securities and Exchange Commission (“Commission” or “SEC”) is adopting an interim final temporary rule under the Investment Company Act of 1940 to require money market funds to report their portfolio holdings and valuation information to the Commission under certain circumstances. More...
The Securities and Exchange Commission (“SEC”,“ or “Commission”) has amended its rules to delegate authority to the Director of the Division of Enforcement (“Division”) to submit witness immunity order requests to the Department of Justice (“DOJ”) for witnesses who have provided or have the potential to provide substantial assistance in the Commission’s investigations and related enforcement actions. More...
The Board of Directors of the Federal Deposit Insurance Corporation (“FDIC”) has adopted a proposed Interim Final Rule amending 12 C.F.R. § 360.6 to provide a transitional safe harbor effective immediately for all participations and securitizations in compliance with that rule as originally adopted in 2000. More...
The Securities and Exchange Commission (“SEC,” or “Commission”) has voted to provide public companies with interpretive guidance on existing SEC disclosure requirements as they apply to business or legal developments relating to the issue of climate change. More...
The Financial Industry Regulatory Authority (“FINRA”) has issued guidance to securities firms and brokers regarding the use of social networking Web sites such as Facebook, Twitter, LinkedIn and blogs to communicate with the public. More...
The Securities and Exchange Commission (“SEC,” or “Commission”) has proposed a new rule that would effectively prohibit broker-dealers from providing customers with "unfiltered" or "naked" access to an exchange or alternative trading system (“ATS”). More...
