Alert April 12, 2005

Financial Services Alert

  • U.S. Supreme Court Rules IRA Assets may be Exempt from Bankruptcy Estate
  • FDIC Adopts Sarbanes Oxley Related Amendments to Disclosure Regulations
  • FRB Proposes Shift of Liability for Unauthorized "Remotely Created Checks" from Paying Bank to Depositary Bank
  • OCC Permits National Bank Purchase of Fixed Rate Annuities
  • SEC Adopts Final Rule Addressing Advisers Act Exception for Broker-Dealers
  • Seventh Circuit Holds That Bank Has No Duty under Illinois Law to Notify Other Lenders Regarding a Borrower's Fraudulent Activities
  • NASD Staff Endorses Profile Plus in Comment Letter to SEC on Reproposal of Point-of-Sale/Confirmation Disclosure Requirements