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Results: 1-10 of 54

SEC issues first progress report on convergence of global accounting standards

  • Edwards Wildman Palmer LLP
  • -
  • Global, USA
  • -
  • November 29 2010

Earlier this year, the leadership at the United States Securities and Exchange Commission (the "SEC") directed its staff at the Office of the Chief Accountant to develop a Work Plan to consider the convergence of the U.S

BankAtlantic loses class action trial

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • November 18 2010

In a verdict handed down on Thursday (111810), a South Florida federal jury found that BankAtlantic violated federal securities laws by making several false statements to investors during the class period

District Court dismisses subprime class action case with prejudice

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • October 20 2010

The U.S. District Court in Manhattan recently dismissed a securities class action brought by a proposed class of investors, alleging that the company and two of its senior officers violated Section 10(b) of the Securities Exchange Act of 1934 (“Exchange Act”) and SEC Rule 10b-5 by making false or materially misleading disclosures about the company’s risk management and exposure to mortgage-related securities

ARS derivative suits will need to overcome business judgment rule

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • October 12 2010

In the past few months, several derivative suits against mutual fund issuers of auction rate securities (ARS) have hit the courts

Treasury Department proposes a plan that would require US banks to report all overseas money transfers

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • September 29 2010

On September 29, the Washington Post and New York Times reported that the United States Treasury Department's Financial Crimes Enforcement Network ("FinCEN") issued a proposal this week that would require US banks to report all electronic money transfers into and out of the United States

Changes in securities & insurance regulation affecting enforcement strategies ALI-ABA conference on insurance & financial services litigation

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • July 19 2010

Speakers at the ALI-ABA's annual conference on insurance and financial services regulation in Chicago offered extensive commentary on changes in enforcement strategies for insurance and securities fraud, in light of recent overhauls to the regulatory scheme

Financial reform package preserves the role of state insurance departments in regulating indexed annuities

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • July 16 2010

In December 2008, the U.S. Securities and Exchange Commission (the “SEC”) adopted Rule 151A (the “Rule”) classifying equity-indexed annuities (“EIAs”) as securities, and subjecting them to federal regulation effective 2011

Investment managers are restricted from making political contributions to win business -- unregistered advisers are covered by the SEC's new pay-to-play rule -- third party solicitors are spared . . . if they are registered advisers or broker-dealers

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • July 1 2010

Fund managers and other investment advisers will face tight new restrictions on their ability to make - or facilitate - contributions to politicians, candidates and other officials who are responsible for public assets, including pension plans and Section 529 tuition plans

Financial reform conferees complete work on overhaul legislation

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • June 25 2010

In the early morning hours of June 25, House and Senate conferees completed action on financial regulatory reform legislation (H.R. 4173) by approving a final conference report by a vote of 20-11 among House conferees and a vote of 7-5 among Senate conferees

State insurance commissioners make their case for inclusion in the Financial Stability Oversight Council

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • June 18 2010

In a letter from the National Association of Insurance Commissioners (the "NAIC") to both House and Senate leaders, state insurance commissioners urged lawmakers to designate a non-voting seat for state banking, insurance and securities regulators on the Financial Stability Oversight Council (the "FSOC"