Goodwin Procter: Financial Services Newsletter

Financial Services Newsletter

Goodwin Procter
December 11, 2012
6 pages

In this Issue:

Scheduled December 31, 2012 Expiration of the FDIC’s Transaction Account Guarantee Program
SEC Settles Administrative Proceeding Against Business Development Company Regarding Overstated Value of CLO and Debt Security Holdings During Financial Crisis
SEC Staff Issues Study Addressing Commissioner Questions on Money Market Fund Reforms
CFTC Staff Provides Interpretive Guidance and NoAction Relief for Certain Securitization Vehicles Regarding Commodity Pool Operator Registration Requirements
CFTC Staff Issues No-Action Relief from CPO Registration Requirement for Certain Business Development Companies
CFTC Staff Extends Compliance Deadlines for Certain Swap Data Reporting Requirements Due to Hurricane Sandy
IOSCO Publishes Reports on Securitization and Asset-Backed Securities

Banking Sector Reform Sullivan & Cromwell: Dodd-Frank Stress Tests: Federal Reserve Issues Summary Instructions for Dodd-Frank Company-Run, Mid-Year Stress Tests Davis Polk: Too Big to Fail: The Path to a Solution Sullivan & Cromwell: Basel III Capital Framework: Basel Committee Publishes Consultative Document Proposing Changes to the Capital Treatment of Purchased Credit Protection	Consumer Financial Services Troutman Sanders: CFPB Cracks Down on Sham Affiliated Business Arrangements Under Section 8 of RESPA ReedSmith: In the Continuing Saga of the TCPA: Good News, Bad News From a Court in Miami [Mais v. Gulf Coast Collection Bureau, et al] Venable: CFPB and Justice Department Team Up on Enforcement	Investment Funds Bingham: FINRA Issues New Guidance for Broker-Dealer Communications Regarding Real Estate Investments Morrison Foerster: FINRA Focuses on Anti-Money Laundering Procedures and Red Flags Morrison Foerster: FINRA Identifies Concerns with Marketing of Real Estate Investment Products
Capital Markets Hogan Lovells: Equity Capital Markets – Which Market? Ropes & Gray: Bond is Back: Opportunities for investors in European HY Debt Davis Polk: New and Proposed Research Rules Create Compliance Challenges for Banks	SEC & US Securities Law Dechert: SEC Targets Another Fund Board in Recent Enforcement Case Arnold & Porter: Does the Hand Fit the Glove? Assessing Your Company's Anti-corruption Compliance Program Ropes & Gray: SEC Issues IM Guidance Update on Compliance with Exemptive Orders	M&A/Private Equity Allen & Overy: Inbound acquisitions at a glance Paul Weiss: M&A at a Glance (May 2013) Debevoise & Plimpton: Holding the Defensive Line: Delaware Court Rejects Extension of Warn Act Liability to Private Equity Sponsor
Hedge Funds Paul Hastings: Hedge Fund Report - Summary of Key Developments - Spring 2013 Nixon Peabody: Recent BVI decisions offer guidance to investors and funds facing redemption disputes Alston & Bird: How Hedge Funds and Private Equity Firms Can Manage Foreign Corrupt Practices Act Risks	Derivatives Winston & Strawn: Dodd-Frank: Recent Relief from Business Conduct Rules in Respect of FX Transactions Day Pitney: CFTC External Business Conduct Standards - Temporary Relief to Foreign Exchange Transactions Schulte Roth & Zabel: CFTC Grants Temporary Relief for FX and Swaps Prime Brokerage Arrangements: Context for Private Fund Managers and Other Investment Advisers	Securitization Dechert: EBA Consultation Paper Raises Concerns for CLOs Chapman and Cutler: Dodd-Frank Swaps Clearing Requirement Looming for Securitizations ReedSmith: California Court Finds Securitization Entities Subject to California Income Tax
Senior Lending/Credit Facilities King & Spalding: Voluntary Secondary Market Disclosure About Bank Loans King & Spalding: Bankruptcy Implications of Affiliated Lender Provisions and Debt Buybacks Bryan Cave: Compliance Considerations For End-Users Of Derivatives	Public Finance Ballard Spahr: U.S. Senate Passes Water Resources Development Act Pepper Hamilton: Chapter 9 Bankruptcy of Stockton, Calif., Moves Forward McGuireWoods: The President’s FY 2014 Budget Proposal: Positives and Negatives for Public Finance	China Minter Ellison: New rules for foreign debt in China Allen & Overy: FOREX conversion in China via a RMB Clearing Bank in Singapore Paul Hastings: China Expands RQFII Regime
European Union Sidley Austin: AIFM Directive 2013 Update: Securitisation Risk Retention Requirement Shearman & Sterling: The Eurozone Crisis: Legal Implications for the Real Estate Market Hogan Lovells: Scope of implementation of the AIFM-directive in national law	United Kingdom McGuireWoods: The High Court Signals a Narrowing in the Interpretation of Material Adverse Change Clifford Chance: The week at the UK regulators Dechert: Has the FCA Started As It Means To Go On?	Islamic Finance Clifford Chance: Shari'a Compliant Real Estate Financing Clifford Chance: Introduction to Sukuk Clifford Chance: Shari'a Compliant Investment Funds

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