| 1 | Treasury Department Releases Results of Monthly Bank ... An update on the Treasury Department's release of the April 2009 bank lending survey results. | Legal Update: archive | 16-Jun-2009 |
| 2 | The Commercial Paper Market: Headwinds and Bright Spots According to recent data from the Federal Reserve, the commercial paper market has contracted to about half its July 2007 peak of $2 trillion. The euro zone crisis, economic weakness in the US, and the availability of low-interest, long-term loans and bonds have all served to chill the commercial paper market. However, according to a report by Fitch Ratings, certain borrowers that traditionally have not been significant issuers of commercial paper are increasingly using commercial paper to satisfy short-term funding needs. | Legal Update: archive | 21-Nov-2011 |
| 3 | Ten Law Firms Issue Interpretive Paper on Use of Credit ... An update on a white paper issued by ten law firms analyzing the appropriate use of credit ratings in registered offerings of debt or preferred securities following the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010's repeal of Securities Act Rule 436(g). | Legal Update: archive | 22-Jul-2010 |
| 4 | State Insurance Regulators May Reduce Role of Rating ... An update on a Wall Street Journal article on state insurance regulators considering whether to reduce the role of credit rating agencies in measuring the health of insurer's portfolios of mortgage-backed securities (MBSs). | Legal Update: archive | 18-Sep-2009 |
| 5 | SEC Seeks Public Comment in Advance of Proposing JOBS ... The SEC announced that it is now accepting public comment on the Jumpstart Our Business Startups Act (JOBS Act). | Legal Update: archive | 11-Apr-2012 |
| 6 | SEC Revises C&DIs on Credit Ratings and Consents An update on the SEC's revised compliance and disclosure interpretations (C&DIs) providing guidance on the requirement to file consents when credit ratings are included in public offering documents after the repeal of Securities Act Rule 436(g). | Legal Update: archive | 29-Jul-2010 |
| 7 | SEC Permits Reliance on Section 3(a)(9) for Exchanges of ... An update on the SEC's no-action letter allowing reliance on Section 3(a)(9) of the Securities Act of 1933, as amended, for issuance of a new parent security in exchange for an old parent security guaranteed by wholly-owned subsidiaries. | Legal Update: archive | 14-Jan-2010 |
| 8 | SEC Issues C&DIs on Credit Ratings and Consents An update on the SEC's compliance and disclosure interpretations (C&DIs) providing guidance on the requirement to file consents when credit ratings are included in public offering documents after the repeal of Securities Act Rule 436(g). | Legal Update: archive | 23-Jul-2010 |
| 9 | SEC Indefinitely Extends No-action Period Allowing Public ... An update on an indefinite extension by the SEC of the safe-harbor period during which it will permit the omission of ratings disclosures from a prospectus that is part of a registration statement relating to a registered offering of asset-backed securities. | Legal Update: archive | 29-Nov-2010 |
| 10 | SEC Division of Corporation Finance Issues Staff Legal ... On October 14, 2011, the SEC's Division of Corporation Finance issued Staff Legal Bulletin No. 19, Legality and Tax Opinions in Registered Offerings. | Legal Update: archive | 14-Oct-2011 |
| 11 | SEC Clarifies That Crowdfunding Remains Unlawful Until It ... The SEC posted a notice reminding issuers that it has not yet implemented the JOBS Act's crowdfunding exemption. | Legal Update: archive | 24-Apr-2012 |
| 12 | SEC Allows Public ABS Issuers to Omit Ratings Disclosures SEC issues no-action letter temporarily permitting omission of ABS ratings from public disclosure documents, avoiding a freeze in public ABS issuance. | Legal Update: archive | 23-Jul-2010 |
| 13 | S&P Revises Ratings Criteria for Global Corporate CDOs An update on S&P's announcement that it has revised its ratings criteria for global collateralized debt obligations (CDOs) backed by corporate debt. | Legal Update: archive | 18-Sep-2009 |
| 14 | S&P Revises Loss Projection Assumptions for US Prime ... An update on Standard & Poor's (S&P's) loss projection assumptions for US prime jumbo mortgage-backed securities (RMBS) issued in 2005-2007. | Legal Update: archive | 17-Jun-2009 |
| 15 | S&P Distressed Debt Ratio Falls to Lowest in Nine Months An update on the Standard & Poor's (S&P) distressed debt ratio. | Legal Update: archive | 29-Jun-2009 |
| 16 | S&P and ASF to Create Loan Identification System and Data ... An update on a partnership between S&P's Fixed Income Risk Management Services and the American Securitization Forum (ASF) to create a loan identification numbering system and loan data repository for mortgage- and asset-backed securities. | Legal Update: archive | 23-Jul-2009 |
| 17 | Report by 14 Firms on Immediate Effect of JOBS Act on Private ... 14 law firms have released a report detailing their consensus on the immediate effect of the Jumpstart Our Business Startups Act of 2012 on SEC rules governing general solicitation and advertising in certain private placements. | Legal Update: archive | 09-Apr-2012 |
| 18 | Private Equity Investors Say FDIC's New Bank Buyout Rules ... An update on private equity investors' responses to the FDIC's new rules on buying failed banks. | Legal Update: archive | 28-Aug-2009 |
| 19 | Private Equity Firms Launch IPOs to Raise Cash, Invest in ... An update on strategies being adopted by private equity firms. | Legal Update: archive | 20-Aug-2009 |
| 20 | President Obama Signs JOBS Act President Obama signed into law the Jumpstart Our Business Startups (JOBS) Act. | Legal Update: archive | 05-Apr-2012 |
| 21 | Obama Administration Delivers Proposed Legislation on the ... An update on the Obama administration's proposed legislation to reform the regulation of credit rating agencies. | Legal Update: archive | 21-Jul-2009 |
| 22 | NY Banking Department Rules Requiring Registration of ... An update on the New York State Banking Department's adoption of regulations governing residential mortgage loan servicers. | Legal Update: archive | 06-Jul-2009 |
| 23 | New Trend in Securitizations? An update on an article in The Financial Times on the reported new trend of "smart securitizations". | Legal Update: archive | 13-Jul-2009 |
| 24 | New Security for Municipalities Allows Long-Term Borrowing ... An update on the new "Windows" securities being offered by various banks to municipalities which allows for long-term borrowing at short-term interest rates. | Legal Update: archive | 16-Jun-2009 |
| 25 | New Safekeeping Structure for International Debt Securities ... An update on a new safekeeping structure for international debt securities issued in global registered form to be launched on June 30, 2010. | Legal Update: archive | 03-Feb-2010 |
| 26 | NASDAQ Proposes Listing Rules for Certain Derivative and ... NASDAQ issued proposed rules for the qualification, listing, trading and delisting of certain derivative and other securities. | Legal Update: archive | 24-Jan-2012 |
| 27 | Morgan Stanley to Sell New $130 Million Re-securitized CDO An update on the sale by Morgan Stanley of a $130 million re-securitized collateralized debt obligation (CDO) backed by leveraged loans. | Legal Update: archive | 09-Jul-2009 |
| 28 | Moody's Reports Investors Using Resecuritizations to Hedge ... An update on a recent trend to resecuritize commercial mortgage-backed securities (CMBSs) as a method to hedge against losses stemming from downgrades. | Legal Update: archive | 01-Sep-2009 |
| 29 | MBS Settlement Instructions for Clearing Participants of FICC An update on the requirement that all clearing participants of the Mortgage-Backed Securities (MBS) Division of the Fixed Income Clearing Corporation (FICC) submit valid Federal Reserve Bank book-entry settlement instructions for MBS. | Legal Update: archive | 30-Jun-2009 |
| 30 | Mall Developer to Issue First CMBS Using TALF An update on Developers Diversified Realty Corporation selling bonds in the first offering of commercial mortgage-backed securities (CMBS) to use the Term Asset-Backed Securities Loan Facility (TALF) program. | Legal Update: archive | 23-Jul-2009 |
| 31 | LSTA Issues Lyondell Advisory An update on the Loan Syndications and Trading Association's market advisory with guidance on the physical settlement of credit default swap transactions by delivery of certain loans of Lyondell Chemical Company. | Legal Update: archive | 02-Feb-2009 |
| 32 | LSTA Issues GM Advisory An update on the Loan Syndications and Trading Association's (LSTA) market advisory to give guidance to the loan credit default swap (LCDS) market regarding the physical settlement of representative auction-settled transactions resulting from the General Motor Corp. (GM) Auction Terms. | Legal Update: archive | 24-Jul-2009 |
| 33 | Jobs Bill Offset with FATCA Provisions to Combat Offshore Tax ... An update on the Foreign Account Tax Compliance Act (FATCA) provisions included in the Jobs Bill to combat offshore tax evasion. | Legal Update: archive | 17-Mar-2010 |
| 34 | IRS Revises Guidance for Phased Implementation of FATCA An update on the IRS's revision of Notice 2011-53 to include withholdable payments to non-financial foreign entites in the phased implementation schedule for withholding under the Foreign Account Tax Compliance Act (FATCA) enacted as part of the Hiring Incentives to Restore Employment Act of 2010. | Legal Update: archive | 26-Jul-2011 |
| 35 | IRS Issues Proposed Regulations on FATCA The IRS issued proposed regulations addressing withholding and information reporting requirements under the Foreign Account Tax Compliance Act (FATCA). | Legal Update: archive | 09-Feb-2012 |
| 36 | IRS Issues Preliminary Guidance on FATCA An update on the IRS's issuance of preliminary guidance on implementing the Foreign Account Tax Compliance Act (FATCA) withholding and reporting provisions enacted as part of the Hiring Incentives to Restore Employment Act of 2010 (HIRE Act). | Legal Update: archive | 30-Aug-2010 |
| 37 | IRS Issues Final Regulations on FATCA The IRS and Treasury Department issued final Treasury regulations addressing withholding and information reporting requirements under the Foreign Account Tax Compliance Act (FATCA). | Legal Update: archive | 18-Jan-2013 |
| 38 | IRS Guidance Released for Phased Implementation of FATCA An update on the IRS's issuance of guidance providing for the phased implementation of withholding and certain reporting provisions of the Foreign Account Tax Compliance Act (FATCA) enacted as part of the Hiring Incentives to Restore Employment Act of 2010. | Legal Update: archive | 18-Jul-2011 |
| 39 | IRS Guidance Issued on Election to Defer CODI for Debt ... An update on Revenue Procedure 2009-37 which provides the exclusive procedures for taxpayers to make an election to defer recognizing cancellation of indebtedness income (CODI) for debt restructurings in 2009 and 2010. | Legal Update: archive | 18-Aug-2009 |
| 40 | IRS Delays Certain FATCA Deadlines The IRS released an announcement that delays certain deadlines under the Foreign Account Tax Compliance Act (FATCA) and provides additional guidance on grandfathered obligations. | Legal Update: archive | 25-Oct-2012 |
| 41 | Global Corporate Bonds Hit Record High, Surpassing $1 ... An update on the volume of global corporate bonds hitting a record high, surpassing the $1 trillion mark. | Legal Update: archive | 19-Aug-2009 |
| 42 | Fitch Says That Pressure on European CMBS is Increasing ... An update on the effect of falling rental income on European commercial mortgage-backed securities (CMBS). | Legal Update: archive | 20-Jul-2009 |
| 43 | Fitch Says SIV Asset Disposal at 95% An update on findings by Fitch Ratings regarding the disposal of roughly $400 billion in assets held in structured investment vehicles (SIVs) since July 2007. | Legal Update: archive | 07-Jul-2009 |
| 44 | Fitch Finds US RMBS Pricing Disparities An update on a Fitch Solutions study that finds a disconnect between how the market prices US residential mortgage-backed securities (RMBS) and their intrinsic value. | Legal Update: archive | 01-Jul-2009 |
| 45 | Fitch Downgrade of AIG Had No Effect on Most of AIG's ... An update on the ratings effect of a recent Fitch Ratings downgrade of American International Group (AIG). | Legal Update: archive | 20-Jul-2009 |
| 46 | Final Tax Regulations Issued on Publicly Traded Debt The IRS issued final regulations on the definition of "publicly traded" debt which significantly expand the definition and make several changes to the proposed regulations issued in January 2011. | Legal Update: archive | 13-Sep-2012 |
| 47 | FDIC Releases Q&As Regarding its Policy Statement on ... An update on the FDIC's release of Q&A's regarding its August 2009 policy statement on the acquisition of failed banks by private equity investors. | Legal Update: archive | 20-Jan-2010 |
| 48 | FDIC Releases New Q&As to Clarify Policy Statement on ... An update on the FDIC's release of new Q&A's regarding its August 2009 policy statement on the acquisition of failed banks by private equity investors. | Legal Update: archive | 29-Apr-2010 |
| 49 | FDIC Plans New Rules on the Acquisition of Failing Banks by ... An update on the FDIC's planned publication of rules regarding the acquisition of failing banks by private equity investors. | Legal Update: archive | 06-Jul-2009 |
| 50 | FDIC Approves Policy Statement on Acquisition of Failed ... An update on the FDIC's approval of a policy statement providing guidance on required standards for the acquisition of failed banks by private equity investors. | Legal Update: archive | 26-Aug-2009 |
| 51 | FATCA Guidance Released for Foreign Financial Institutions An update on the IRS's issuance of additional guidance for foreign financial institutions (FFIs) on implementing the Foreign Account Tax Compliance Act (FATCA) withholding and reporting provisions enacted as part of the Hiring Incentives to Restore Employment Act of 2010 (HIRE Act). | Legal Update: archive | 11-Apr-2011 |
| 52 | Dodd-Frank Reform May Freeze ABS Issuance An update on the unintended consequences of financial regulatory reform for the issuance of asset-backed securities (ABS). | Legal Update: archive | 22-Jul-2010 |
| 53 | Discounted Repurchases of CDO Notes Likely Will Not Affect ... An update on an announcement by Fitch Ratings regarding the ratings implications of repurchases of collateralized debt obligation (CDO) notes. | Legal Update: archive | 19-Jun-2009 |
| 54 | Deutsche Börse, NYSE Euronext to Upgrade Market Data ... An update on the plans of Deutsche Börse and NYSE Euronext to upgrade their market data systems and the launch of Deutsche Börse's credit default swap (CDS) clearinghouse. | Legal Update: archive | 26-Jun-2009 |
| 55 | DE Supreme Court Affirms Chancery Court's Decision in ... An update on the Delaware Supreme Court's order affirming the Court of Chancery's decision in a dispute between Amylin Pharmaceuticals, Inc. (Amylin) and the San Antonio Fire & Police Pension Fund. | Legal Update: archive | 06-Oct-2009 |
| 56 | DE Chancery Court Interprets Poison Put Provisions in an ... An update on the Delaware Court of Chancery's decision interpreting an indenture's poison put provision in a dispute between Amylin Pharmaceuticals, Inc. and the San Antonio Fire & Police Pension Fund, on behalf of the stockholders. | Legal Update: archive | 27-May-2009 |
| 57 | Covered Bond Legislation Introduced in House An update on the Equal Treatment for Covered Bonds Act of 2009, introduced in the House of Representatives on June 16, 2009. | Legal Update: archive | 17-Jun-2009 |
| 58 | Congress Passes Capital Formation Reform Bill (JOBS Act) The House of Representatives passed the Senate-amended Jumpstart Our Business Startups (JOBS) Act. | Legal Update: archive | 27-Mar-2012 |
| 59 | CME Revises Stock Index Price Limits On July 1, 2009, the Chicago Mercantile Exchange (CME) announced revisions to its price limits for domestic stock index futures. | Legal Update: archive | 01-Jul-2009 |
| 60 | CME Group Raises Bond Trading Increment An update on CME Group's announcement that it will increase the minimum trading increment for U.S. Treasury bond futures. | Legal Update: archive | 01-Jul-2009 |
| 61 | CMBS Deals Under TALF Off to Slow Start An update on the sale of commercial mortgage-backed securities under the Term Asset-Backed Loan Facility (TALF). | Legal Update: archive | 16-Jun-2009 |
| 62 | Changes to Rating Agency Criteria An update on changes to rating agency criteria announced the week of July 3, 2009. | Legal Update: archive | 29-Jun-2009 |
| 63 | Changes to Rating Agency Criteria An update on various changes to rating agency criteria, assumptions and ratings methodologies announced during the week ending June 26, 2009. | Legal Update: archive | 22-Jun-2009 |
| 64 | AICPA Releases Financial Reporting Framework for Small ... The American Institute of Certified Public Accountants (AICPA) released a financial reporting framework for small and medium-sized private entities. | Legal Update: archive | 13-Jun-2013 |