By Josh Lawler and Joel B. Ginsberg of Zuber & Taillieu LLP
The Second Circuit has held that secondary actors can be held liable for Rule 10b-5 damages actions only for false statements attributed directly to the secondary actor at the time of their dissemination. In Pacific Investment Management Co. v. Mayer Brown, 603 F.3d 144 (2nd Cir. 2010), the Court of… More...
The U.S. Department of the Treasury has issued the Iranian Financial Sanctions Regulations (“IFSR”) to implement subsections 104(c) and 104(d) of the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010 (“CISADA”). More...
The Federal Trade Commission (“FTC”) has proposed to modify the form that companies must file when seeking FTC or Department of Justice review of a proposed transaction under the Hart-Scott-Rodino Act. More...
Starting on October 27, 2010, for-profit companies that sell debt relief services over the telephone may no longer charge a fee before they settle or reduce a customer’s credit card or other unsecured debt. More...
The Commodity Futures Trading Commission (“CFTC,” or “Commission”) has adopted an amendment to its regulations regarding the operation of a commodity broker in bankruptcy. More...
The Securities and Exchange Commission (“SEC,” or “Commission) has released a staff report recommending that life settlements be clearly defined as securities so that the investors in these transactions are protected under the federal securities laws. More...
The Securities and Exchange Commission (“SEC,” or “Commission”) with the concurrence of the Office of Government Ethics (“OGE,” or “Office”) is adopting supplemental standards of ethical conduct for the Commission’s members and employees. More...
The Securities and Exchange Commission (“SEC,” or “Commission”) has approved a proposed rule change (SR-FINRA-2010-022), filed by the Financial Industry Regulatory Authority (“FINRA”) to amend the Codes of Arbitration Procedure to increase the number of arbitrators on lists generated by the Neutral List Selection System (“NLSS”). More...
The amount of information available to the public about current and former securities brokers will expand significantly in coming months, as the Financial Industry Regulatory Authority (“FINRA”) implements changes to its free, online BrokerCheck service recently approved by the Securities and Exchange Commission ("SEC"). More...
The Securities and exchange Commission (“SEC,” or “Commission”) is amending its rules to remove a sunset provision from the delegation of authority to the Director of the Division of Enforcement to issue formal orders of investigation. More...
The Securities and Exchange Commission (“SEC,” or “Commission”), through its Chairman Mary L. Schapiro, has announced that the agency is making it easier for the public to provide comments as the agency sets out to make rules required under the Dodd-Frank Wall Street Reform and Consumer Protection Act. More...
