Alert August 05, 2014

Quarterly Review

May 13, 2014
IRS Notice 2014-33 – IRS Grants Relief for Good-Faith Efforts Under FATCA
FinCEN Issues Five Advisory Rulings Concerning the Application of the Bank Secrecy Act’s Definition of “Money Transmitter” to Various Business Models
May 20, 2014
SEC Updates Frequently Asked Questions Regarding Municipal Advisor Registration Rules
FRB Issues Proposed Rule Implementing Dodd-Frank Act’s Concentration Limit on Large Financial Companies
Cyber Security to Become Element of NYDFS Bank Examination Process
Goodwin Procter Alert: SEC’s Inspection Chief Cites Fee and Expense Deficiencies in the Private Equity Sector
CFTC Announces Streamlined Approach for Seeking Relief from Registration for Delegating Commodity Pool Operators
May 27, 2014
NFA to Impose Fee for Failing to Disclose Disciplinary Matter
Credit Suisse Pleads Guilty to DOJ Charge of Conspiracy to Aid Tax Evasion; FRB and NYDFS Take Related Actions
June 3, 2014
U.S. District Court Upholds FDIC’s Golden Parachute Decision
FinCEN Issues Advisory on Increased Use of Funnel Accounts by Criminals as Part of Mexican Trade-Based Money Laundering Transactions
SEC Investment Management Staff Requests Certifications for Marked Copies of Exemptive Applications
June 10, 2014
Federal Banking Agencies Seek Comments on Their Regulations in Effort to Reduce Regulatory Burden
OCC Updates Booklet in its Handbook Concerning Collective Investment Funds
SEC Staff Provides Guidance on Affiliated Person Determinations for Series Investment Companies
NFA Makes Changes to CPO Form PQR and CTA Form PR
June 17, 2014
SEC and Banking Agencies Release Volcker Rule FAQs; OCC Issues Interim Volcker Rule Examination Procedures
FRB Governor Tarullo Makes Presentation Concerning Alignment of Bank Corporate Governance and Prudential Regulation
SEC Settles Enforcement Proceeding Against Former Portfolio Manager over Prohibited Joint Transaction Involving Registered Closed-End Fund
June 24, 2014
Goodwin Procter Alert: Supreme Court Ruling in Halliburton II is a Partial Win for Defendants Facing Securities Class Actions
Goodwin Procter Counsel Publishes Article on Treatment of Existing Tort Claimants' Successor Liability Claims in Chapter 11
SEC Settles with Exempt Reporting Adviser over Pay-to-Play Violations
SEC Integrates Two Exempt Reporting Advisers to Determine Advisers Act Registration Status
Goodwin Procter Alert: SEC Approval of Amendments to FINRA Corporate Financing Rules Will Reduce Burdens on Parties in Public Offerings
FINRA Fines Broker-Dealer for Failing to Apply Class A Sales Charge Waivers for Certain Eligible Customers on its Mutual Fund Platform
Federal Banking Agencies Issue Final Version of Addendum to Interagency Policy Statement on Income Tax Allocation
July 1, 2014
Supreme Court’s Dudenhoeffer Decision Headlines New ERISA Litigation Update
SEC Settles with Hedge Fund Adviser over Principal Transactions and Retaliation Against Whistleblower
SEC Adopts Cross-Border Security-Based Swap Rules
FRB Governor Tarullo Offers Retrospective and Perspective on Supervisory Stress Testing
FFIEC Establishes Cybersecurity Web Page and Announces Commencement of Cybersecurity Assessment Program of Community Banks
July 8, 2014
SEC Staff Provides Guidance on Summary Section of Mutual Fund Prospectuses
GAO Issues Report Concerning Emerging Challenges Posed by Virtual Currencies
July 15, 2014
New Business Litigation Reporter Available
Director of SEC’s Division of Investment Management Discusses Alternative Mutual Funds
SEC Staff Provides Guidance on Custody Rule Compliance When Private Funds Use SPVs and Escrow Accounts
July 22, 2014
FDIC Proposes Rule to Revise Deposit Insurance Assessments to Reflect the Basel III Capital Rule
Secretary of the Treasury Lew Urges Financial Institutions to Enhance Their Cybersecurity Defenses
SEC Staff Legal Bulletin Addresses Use of Proxy Advisory Firms by Advisers and Reliance by Proxy Advisory Firms on Proxy Rules Exemptions
July 29, 2014
SEC Adopts Money Market Fund Reforms
SEC Staff Issues Guidance on Accredited Investor Tests and Verification of Accredited Investors for Rule 506(c) Offerings
SIFMA Provides Guidance on Verification of Accredited Investor Status by Broker-Dealers and Investment Advisers
FDIC Issues Guidance on Requests by Banks That Are S-Corporations for Dividend Exceptions to Capital Conservation Buffer
AIFMD Goes Live