Following is the Davis Polk visual memorandum analyzing the Federal Reserve’s proposed rule on total loss-absorbing capacity (TLAC) and eligible long-term debt (LTD) requirements for (i...
On October 14, 2013, FINRA issued a Report on Conflicts of Interest. The report summarizes FINRA’s observations following an initiative, launched in July 2012, to review conflict manag...
On April 22, 2013, the Financial Industry Regulatory Authority (“FINRA”) issued an Interpretive Letter to ALPS Distributors, Inc. setting forth guidance regarding the use of pre-incep...
A working group of the International Organization of Securities Commissions (IOSCO), the Madrid-based international policy forum for securities regulators from more than 115 jurisdictions...
FINRA’s new rules governing members’ communications with customers and the public will become effective on February 4, 2013.1 The revised communication rules represent a significant o...
On July 14, 2011, the Financial Industry Regulatory Authority, Inc. filed with the Securities and Exchange Commission a proposal to adopt various rules in the Consolidated FINRA Rulebook ...
As part of its efforts to remove reliance on and references to credit ratings from its rules and forms as required by Section 939A of Dodd-Frank, the SEC has issued proposed rules that wo...
On August 11, 2009, the Obama Administration released the “Over-the-Counter Derivatives Markets Act of 2009” (the “Proposed Bill”), sweeping legislation that for the first time wo...
On April 10, 2009, the Securities and Exchange Commission (the “SEC”) published proposed amendments to Regulation SHO that would impose new restrictions on short sales. As proposed, t...
The reorganization or liquidation of most types of companies is governed in the United States by a single federal law—the US Bankruptcy Code (the “Bankruptcy Code”). As a result, no...
