Alert December 19, 2006

Financial Services Alert - December 19, 2006

  • SEC and FRB Vote to Publish New Bank Broker Rules:  Proposed Regulation R
  • OTS Permits Op Sub to Engage in Broad Securities Activities and Pay Interest in Free Credit Balances
  • NASD and SEC Discipline Broker-Dealer over Gifts, Travel and Entertainment Provided to Certain Adviser Personnel in Effort to Increase Mutual Fund Brokerage
  • OCC Fines Grant Thornton as IAP in Connection with Audit Performed for Failed FNB of Keystone
  • SEC Seeks Comment on Staff Economic Papers Analyzing Challenged Fund Governance Requirements
  • Banking Agencies Issue Final Guidance on Commercial Real Estate Concentrations and Sound Risk Management Practices
  • SEC Adopts Proxy Rule Changes to Permit Delivery Via Website Posting of Proxy Materials and Proposes Making Website Delivery Method Mandatory
  • SEC Proposes Eliminating Short Sale Price Tests (“Tick Tests”)
  • SEC Votes to Propose Rules Designed to Protect Investors in Hedge Funds and Other Pooled Investment Vehicles
  • MSRB Files Proposed Amendments to Municipal Fund Securities Advertising Rule
  • GAO Issues Report Examining the Information on Fees Provided to 401(k) Plan Participants and the Department of Labor
  • Federal Banking Agencies Grant Interim Exclusion to Banking Institutions from Effects of FAS 158 in Calculating Regulatory Capital