Alert June 19, 2007

Financial Services Alert - June 19, 2007

  • FRB Issues Guidance on Retail Sweep Requirements
  • DOL Releases Advisory Opinion that a U.S. Branch of a Non-U.S. Bank is ‘Bank or Trust Company’ under ERISA
  • OCIE Issues First ComplianceAlert to CCOs Outlining Recent Examination Deficiencies and Weaknesses
  • FRB Approves Final Rule Eliminating Certain Regulation O Requirements
  • OCC Permits Custody Trust Ledger Deposit Account Program
  • FinCEN Issues Guidance Regarding Law Enforcement Requests to Financial Institutions that They Allow Accounts to Remain Open Despite Suspicious or Potential Criminal Activity
  • SEC Staff Grants No‑Action Relief to Permit REIT to Treat Tier 1 Mezzanine Loans as Qualifying Interests for Purposes of Section 3(c)(5)(C) of the 1940 Act
  • Goodwin Procter’s Financial Services Practice Group Ranked Nationally in All of its Practice Areas
  • SEC to Act on Voluntary XBRL Tagging of Mutual Fund Risk/Return Summaries and Mandatory Internet Posting of Proxy Materials at June 20 Open Meeting
  • SEC Eliminates Short Sale Price Tests, But Tightens Short Sale Delivery Requirements under Regulation SHO
  • OTS and CSBS Enter Into Consumer Complaint Sharing Agreement