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USA - September 7 2012
The Jumpstart our Business Startups Act directed the Securities and Exchange Commission to (1) remove the prohibition under Rule 502(c) of Regulation D against general solicitation and general advertising in connection with offers and sales of securities made pursuant to Rule 506 (which provides an exemption from registration under the Securities Act of 1933 for private offerings) and (2) revise Rule 144A(d)(1) under the Securities Act to provide that securities sold pursuant to Rule 144A may be offered and advertised (but not sold) to persons other than qualified institutional buyers.
USA - September 7 2012
On August 31, the Securities and Exchange Commission issued an alert (Risk Alert) to inform firms engaged in municipal securities business about areas of concern identified in compliance examinations with respect to Municipal Securities Rulemaking Board (MSRB) “Pay-to-Play” prohibitions.
United Kingdom - August 24 2012
On August 20, CME Group announced that it is in the process of applying to the United Kingdom’s Financial Services Authority (FSA) to create a London-based derivatives exchange.
USA - July 27 2012
On July 24, the Commodity Futures Trading Commission issued temporary no-action relief to harmonize the implementation of the CFTC’s Position Limits for Futures and Swaps (the Position Limits Rule) with the proposed changes to the aggregation provisions of the Position Limits Rule.
USA - July 13 2012
On July 11, the Securities and Exchange Commission held an open meeting and adopted Rule 613, which requires U.S. exchanges and the Financial Industry Regulatory Authority (FINRA) to submit a national market system (NMS) plan for creating, implementing and operating a single, market-wide consolidated audit trail system.
