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Results: 1-10 of 34

European regulators establish two-tiered definition for money market fund

  • Orrick Herrington & Sutcliffe LLP
  • -
  • European Union
  • -
  • May 24 2010

On May 19, 2010, the Committee of European Securities Regulators (the "CESR") released its "Guidelines on a common definition of European money market funds" (the "Guidelines"

Wall Street Transparency and Accountability Act of 2010

  • Orrick Herrington & Sutcliffe LLP
  • -
  • USA
  • -
  • July 28 2010

On July 21st, the President signed the "Dodd-Frank Wall Street Reform and Consumer Protection Act" (the "Financial Reform"), which was passed by the U.S. Senate on July 15th and the U.S. House of Representatives on June 30th after weeks of reconciliation talks

Decision on SEC's first insider trading case involving credit default swaps

  • Orrick Herrington & Sutcliffe LLP
  • -
  • USA
  • -
  • July 28 2010

On June 25th, a federal district court judge ruled against the Securities and Exchange Commission (SEC) in U.S. regulators' first lawsuit alleging insider trading of credit default swaps (CDS

Derivatives regulation reform and provisions affecting governmental entities in the Dodd-Frank Act

  • Orrick Herrington & Sutcliffe LLP
  • -
  • USA
  • -
  • August 4 2010

On July 21st, President Obama signed the "Dodd-Frank Wall Street Reform and Consumer Protection Act" (the "Financial Reform"), which was passed by the U.S. Senate on July 15th and the U.S. House of Representatives on June 30th after weeks of reconciliation talks

Third Circuit decision on repurchase transaction

  • Orrick Herrington & Sutcliffe LLP
  • -
  • USA
  • -
  • July 28 2010

In a decision filed on July 7th, the United States Court of Appeals for the Third Circuit affirmed a district court decision upholding a bankruptcy court order granting summary judgment to American Home Mortgage Investment Corp. (American Home) in connection with a repurchase transaction entered into in 2007 under which American Home sold certain certificates to Bear Stearns International Ltd. (Bear Stearns) for $19,534,000 and agreed to re-purchase the certificates at a later date for $19,636,879.07

Wall Street Transparency and Accountability Act of 2010

  • Orrick Herrington & Sutcliffe LLP
  • -
  • USA
  • -
  • July 21 2010

On July 15th, the U.S. Senate passed the “Dodd-Frank Wall Street Reform and Consumer Protection Act” (the “Financial Reform”), which was passed by the U.S. House of Representatives on June 30th and was signed by the President today

Dodd-Frank implementation update

  • Orrick Herrington & Sutcliffe LLP
  • -
  • USA
  • -
  • February 24 2011

Under Title VII of the Dodd-Frank financial reform, titled the "Wall Street Transparency and Accountability Act of 2010" (the "Act"), which is generally intended to bring the $600 trillion over-the-counter derivatives market under greater regulation, the Commodity Futures Trading Commission ("CFTC") will have primary responsibility for the regulation of "swaps" and the Securities Exchange Commission ("SEC" and, together with the CFTC, the "Commissions") will have primary responsibility for the regulation of "security-based swaps

Lehman reaches settlement with perpetual in Dante case

  • Orrick Herrington & Sutcliffe LLP
  • -
  • USA
  • -
  • November 30 2010

On November 17th, Lehman Brothers Special Financing Inc. ("LBSF") and its official unsecured creditors' committee filed a joint motion to stay BNY Corporate Trustee Services Limited's ("BNY") appeal for 90 days in the "Dante" matter, pending final settlement of the dispute between LBSF and Perpetual Trustee Company Limited ("Perpetual"

Dodd-Frank implementation update

  • Orrick Herrington & Sutcliffe LLP
  • -
  • USA
  • -
  • November 30 2010

The Commodity Futures Trading Commission ("CFTC") and Securities Exchange Commission ("SEC" and, together with the CFTC, the "Commissions") continue to meet with market participants and industry groups and to publish proposed rules and requests for comment related to the implementation of Title VII of the Dodd-Frank financial reform, titled the "Wall Street Transparency and Accountability Act of 2010" (the "Act"

Industry groups send comments to regulators on collateral segregation

  • Orrick Herrington & Sutcliffe LLP
  • -
  • USA
  • -
  • November 30 2010

On October 8th, ISDA sent pre-proposal comments (the "ISDA Comments") to the CFTC regarding the segregation of collateral for uncleared swaps in light of the rulemaking the CFTC will undertake to implement Section 724(c) of the Act