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Treasury releases latest transactions report
  • Alston & Bird LLP
  • USA
  • March 17 2009

Yesterday, Treasury released another transactions report, listing a total of $1,455,160,000 of Capital Purchase Program investments in 19 financial institutions in 17 states and the District of Columbia, ranging in size from $425,000 invested in Haviland Bancshares in Kansas to $1,224,558,000 invested in Discover Financial Services


FDIC announces closing of sale of IndyMac
  • Alston & Bird LLP
  • USA
  • March 20 2009

On Thursday, the FDIC announced the completion of its previously announced sale of IndyMac Federal Bank FSB to OneWest Bank, FSB, a newly formed federal savings association organized by IMB HoldCo LLC


Providence Bank assumes all of the deposits of Premier Bank
  • Alston & Bird LLP
  • USA
  • October 17 2010

On Friday, the Missouri Division of Finance closed Premier Bank, headquartered in Jefferson City, Missouri, and appointed the FDIC as receiver


SEC and SROs propose new circuit breakers for individual stocks, as SEC and CFTC issue preliminary report on May 6 market events
  • Alston & Bird LLP
  • USA
  • May 19 2010

Yesterday, the SEC announced that, "in response to the market disruption of May 6, the national securities exchanges and the Financial Industry Regulatory Authority (FINRA) are filing proposed rules today under which they would pause trading in certain individual stocks if the price moves 10 percent or more in a five-minute period."


FHFA proposes rules on GSE conservatorships and receiverships
  • Alston & Bird LLP
  • USA
  • July 8 2010

The Federal Housing Finance Agency (FHFA) has proposed new rules to "codify the terms of conservatorship and receivership operations for Fannie Mae, Freddie Mac and the Federal Home Loan Banks," as required by the Housing and Economic Recovery Act of 2008


Senate Banking Committee holds hearing on SEC Inspector General's Sanford Report
  • Alston & Bird LLP
  • USA
  • September 23 2010

Yesterday, the Senate Banking Committee held a hearing entitled "Oversight of the SEC Inspector General's Report on the 'Investigation of the SEC's Response to Concerns Regarding Robert Allen Sanford's Alleged Ponzi Scheme' and Improving SEC's Performance."


Treasury and HUD release May HAMP report and announce new monthly housing scorecard
  • Alston & Bird LLP
  • USA
  • June 22 2010

Yesterday, the U.S. Department of the Treasury and the Department of Housing and Urban Development (HUD) released the May report under the Home Affordable Modification Program (HAMP


President Obama signs Dodd-Frank Wall Street Reform and Consumer Protection Act
  • Alston & Bird LLP
  • USA
  • July 21 2010

This morning, President Obama signed into law comprehensive reforms to the federal banking and securities laws -- the Dodd-Frank Wall Street Reform and Consumer Protection Act -- legislation that the President said will "rein in the abuse and excess that nearly brought down our financial system" and "bring transparency to the kinds of complex, risky transactions that helped trigger the financial crisis."


House passes bill changing taxation of carried interests
  • Alston & Bird LLP
  • USA
  • May 31 2010

On Friday, by a 215-204 vote, the House passed the 2010 tax extenders bill, H.R. 4213, the American Workers, State, and Business Relief Act of 2010, that would, if also approved by the Senate, significantly change the taxation of carried interests in certain investment partnerships (including hedge funds, venture capital funds and private equity funds, but not certain partnerships controlled by real estate investment trusts


NYSE to propose amendments to Rule 452 to comply with Dodd-Frank Act
  • Alston & Bird LLP
  • USA
  • August 6 2010

Yesterday, the New York Stock Exchange announced that it "intends to file an amendment to NYSE Rule 452 to prohibit members from voting uninstructed shares if the matter to be voted on relates to executive compensation, including 'say-on-pay' proposals, at meetings occurring after July 21, 2010," but that an "exception will be made for those meetings on which the NYSE has issued a 'may vote' ruling prior to July 21