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Dodd-Frank Act: the Volcker Rule

USA - July 21 2010 The Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) limits a bank's investments in proprietary trading to no more than three percent of its Tier 1 capital and limits its aggregate investment in any and all hedge funds and private equity funds to no more than three percent of its Tier 1 capital....

Donald G. Kilpatrick, Michael Ouimette.


Second Circuit provides guidance as to when a cautionary statement is not meaningful

USA - May 26 2010 According to the Second Circuit, vague cautionary language related to a forward-looking statement does not warrant protection under the PSLRA's safe harbor, but plaintiffs nonetheless face a heavy burden in establishing a defendant's actual knowledge that a forward-looking statement was misleading....

Jeffrey J. Delaney.


When is a cautionary statement not meaningful?

USA - March 15 2010 According to the SEC, forward-looking statements included within the MD&A section of an issuer's periodic reports filed under the Exchange Act are within the scope of the PSLRA's safe harbor for forward-looking statements....

Jeffrey J. Delaney.