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Results: 1-10 of 54

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."


FDIC approves extension of securitization safe harbor
  • Alston & Bird LLP
  • USA
  • March 11 2010

Today, the FDIC announced that its Board of Directors has approved an extension through September 30, 2010, of the Safe Harbor Protection for Treatment by the FDIC as Conservator or Receiver of Financial Assets Transferred by an Insured Depository Institution in Connection With a Securitization or Participation


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


JOBS Act aims to jumpstart capital formation
  • Alston & Bird LLP
  • USA
  • April 5 2012

The Jumpstart Our Business Startups Act (otherwise known as the JOBS Act), which was signed into law by President Obama on April 5, 2012, contains the most sweeping set of changes to the securities laws governing public and private offerings since the Securities Offering Reform was enacted in 2005


SEC solicits public comment for study on broker-dealer and investment adviser standards of care
  • Alston & Bird LLP
  • USA
  • July 28 2010

Yesterday, the SEC published a request for public comment in connection with its study, required by Section 913 of the Dodd-Frank Act, of the obligations and standards of care of broker-dealers and investment advisers providing personalized investment advice about securities to retail investors


Fannie Mae and Freddie Mac react to apparent defects in foreclosure procedures
  • Alston & Bird LLP
  • USA
  • October 2 2010

Yesterday, following announcements from Ally Financial and JP Morgan Chase of temporary suspensions of foreclosure efforts in certain states, Fannie Mae issued a statement yesterday expressing concerns about "reports of servicers failing to follow proper procedures in the administration of foreclosure cases," noting that "Fannie Mae servicers are required, by contract, to adhere to applicable laws and rules regarding mortgage documents, and to establish processes and controls that ensure compliance."


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."


Standard & Poor’s identifies likely European targets and potential U.S. acquirers
  • Alston & Bird LLP
  • European Union, USA
  • July 9 2010

In recent weeks, Standard & Poor's Market, Credit, and Risk Strategies (MCRS) group released its findings regarding the likelihood of U.S. companies engaging in mergers and acquisitions in Europe while also identifying possible targets


SEC provides six-month reprieve from ratings disclosure requirements in ABS offerings
  • Alston & Bird LLP
  • USA
  • July 23 2010

Yesterday, the SEC's Division of Corporation Finance issued a no-action letter providing class relief for asset-backed securities (ABS) issuers from the Regulation AB Item 1103(a)(9) and 1120 requirements that a prospectus for an ABS offering disclose whether an issuance or sale of any class of offered ABS is conditioned on the assignment of a rating by one or more rating agencies and, if so, disclose the minimum credit rating that must be assigned and the identity of each rating agency and any arrangements to have such ratings monitored while the ABS are outstanding


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