SEC Sunday November 8, 2009
The SEC Sunday
is a weekly post addressing all the latest rules and regulation changes of the
last week. When you need to catch up on all the latest information regarding
all the relevant Agencies and Organizations, look no further than this post.
SEC
10/30/09: Press Release
Fee Rate Advisory #3 for Fiscal Year 2010
http://www.sec.gov/news/press/2009/2009-230.htm
10/30/09: Press Release
SEC Charges Former CFO and Six Relatives
and Friends in California-Based Insider Trading Ring
http://www.sec.gov/news/press/2009/2009-229.htm
Related Litigation Release
http://www.sec.gov/litigation/litreleases/2009/lr21271.htm
Related SEC Complaint
http://www.sec.gov/litigation/complaints/2009/comp21271.pdf
Spotlight on Insider
Trading
http://www.sec.gov/spotlight/insidertrading.shtml
Related News
Article
Associated Press (via google news)
10/31/09:
SEC Alleges Insider Trading at San Francisco Fund
http://www.google.com/hostednews/ap/article/ALeqM5ggGRV9czqXw2_vR67YWLhS9dgsBQD9BM99102
10/30/09: Press Release
SEC Office of the Chief Accountant Releases Staff Accounting Bulletin
http://www.sec.gov/news/press/2009/2009-228.htm
Staff Accounting Bulletin
113
http://www.sec.gov/interps/account/sab113.htm
or
http://www.sec.gov/interps/account/sab113.pdf
10/30/09: Litigation Release
SEC v. China Holdings, Inc. and Julianna Lu – Fraud for Filing Unauthorized Audit
Reports
http://www.sec.gov/litigation/litreleases/2009/lr21272.htm
Related SEC Complaint
http://www.sec.gov/litigation/complaints/2009/comp21272.pdf
10/30/09: Speech by Commissioner
Luis A. Aguilar at 2009 New America Alliance Latino Economic Forum, New York
The Power of the Shareholder & the Rise of Corporate Democracy
http://www.sec.gov/news/speech/2009/spch102909laa.htm
10/30/09: Exhibits for the Office of Inspector General Report
Investigation of Failure of the SEC to
Uncover Bernard Madoff's Ponzi Scheme (536 Exhibits)
http://www.sec.gov/news/studies/2009/oig-509/oig-509_exhibits.htm
10/29/09: Speech by Commissioner
Elisse B. Walter at 10th Annual A. A. Sommer, Jr. Corporate, Securities and
Financial Law Lecture, New York,
Regulation of the Municipal Securities Market: Investors are not
Second-Class Citizens
http://www.sec.gov/news/speech/2009/spch102809ebw.htm
and
http://www.sec.gov/news/speech/2009/spch102809ebw-delivered.htm
10/29/09: Frequently
Requested FOIA Documents
Alternative Trading Systems: Active Filers as of October 15, 2009
http://www.sec.gov/foia/ats/atslist1009.pdf
10/29/09: Litigation Release
SEC v. J. Bennett Grocock – Insider Trading
http://www.sec.gov/litigation/litreleases/2009/lr21267.htm
Related SEC Complaint
http://www.sec.gov/litigation/complaints/2009/comp21267.pdf
10/29/09: Administrative
Proceeding
In the Matter of Jonathan W. Mikula – Misrepresentations and Omissions of
Material Fact in the Offer and Sale
http://www.sec.gov/litigation/admin/2009/34-60904.pdf
10/29/09: Commission Amicus / Friend of the Court Briefs
Morrison v. National Australia Bank Ltd.
http://www.sec.gov/litigation/briefs/2009/morrison1009.pdf
10/28/09: Testimony by Andrew J. Donohue, Director, Division of
Investment Management before the United States Senate Special Committee on
Aging
Target Date Funds
http://www.sec.gov/news/testimony/2009/ts102809ajd.htm
11/04/09: Press Release
J.P. Morgan Settles SEC Charges in Jefferson County, Ala.
Illegal Payments Scheme
http://www.sec.gov/news/press/2009/2009-232.htm
Related Administrative
Proceeding against J.P. Morgan Securities
http://www.sec.gov/litigation/admin/2009/33-9078.pdf
Related Litigation Release
http://www.sec.gov/litigation/litreleases/2009/lr21280.htm
Related SEC Complaint
against LeCroy and MacFaddin
http://www.sec.gov/litigation/complaints/2009/comp21280.pdf
Related News
Articles
Bloomberg Financial News
11/04/09: JPMorgan
Ends SEC Alabama Swap Probe for $722 Million
http://www.bloomberg.com/apps/news?pid=20601110&sid=awECMuZUMDBQ
Investment News
11/04/09: JPMorgan Settlement with SEC Worth over
$700M
http://www.investmentnews.com/apps/pbcs.dll/article?AID=/20091104/FREE/911049991
New York Times
11/04/09: JPMorgan to Pay $75 Million in Alabama
Case
http://dealbook.blogs.nytimes.com/2009/11/04/jpmorgan-to-pay-75-million-to-settle-charges
11/04/09: Litigation Release
SEC v. James J. Treacy, et al. – Stock Options Backdating
http://www.sec.gov/litigation/litreleases/2009/lr21278.htm
11/04/09: Administrative
Proceeding
In the Matter of James E. Otto – Not Registered as Broker-Dealer
http://www.sec.gov/litigation/admin/2009/34-60935.pdf
11/04/09: Speech by Chairman Mary L. Schapiro
Address to the Practicing Law Institute's 41st Annual Institute on
Securities Regulation
http://www.sec.gov/news/speech/2009/spch110409mls.htm
11/03/09: Litigation Release
SEC v. Randy M. Cho - Misappropriation of Investors Funds and Ponzi Scheme
http://www.sec.gov/litigation/litreleases/2009/lr21275.htm
FFIEC
10/30/09: Policy Statement
Prudent Commercial Real Estate Loan Workouts
FRB
http://www.federalreserve.gov/boarddocs/srletters/2009/sr0907a1.pdf
Related Press
Release
http://www.federalreserve.gov/newsevents/press/bcreg/20091030a.htm
Related Supervisory
Release
http://www.federalreserve.gov/boarddocs/srletters/2009/SR0907.pdf
FDIC
http://www.fdic.gov/news/news/financial/2009/fil09061a1.pdf
Related Press
Release
http://www.fdic.gov/news/news/press/2009/pr09194.html
Related FIL
61-2009
http://www.fdic.gov/news/news/financial/2009/fil09061.html
OCC
http://www.occ.treas.gov/ftp/release/2009-128a.pdf
Related Press Release
http://www.occ.treas.gov/ftp/release/2009-128.htm
Related Bulletin
http://www.occ.treas.gov/ftp/bulletin/2009-32.html
OTS:
http://files.ots.treas.gov/481163.pdf
Related Press Release
Related CEO Letter 325
http://files.ots.treas.gov/25325.pdf
FRB
10/30/09: Working Paper
2009-44
Assessing the Systemic Risk of a
Heterogeneous Portfolio of Banks during the Recent Financial Crisis
http://www.federalreserve.gov/pubs/feds/2009/200944/200944pap.pdf
10/29/09: Testimony by Governor
Daniel K. Tarullo before the Committee on Financial Services, U.S. House of
Representatives
Regulatory Reform
http://www.federalreserve.gov/newsevents/testimony/tarullo20091029a.htm
FRB
11/03/09: FIL-62-2009
Determining Conformance with Interest Rate Restrictions for Less Than
Well Capitalized Institutions
http://www.fdic.gov/news/news/financial/2009/fil09062.html
Section 337.6 Brokered
Deposit Restrictions and Deposit Rate Limits: Questions and Answers
http://www.fdic.gov/news/news/financial/2009/fil09062a.pdf
FDIC
11/30/09: Press Release
FDIC Makes
Public September Enforcement Actions; One Administrative Hearing Scheduled for
November
http://www.fdic.gov/news/news/press/2009/pr09193.html
OCC
10/29/09: Testimony by Comptroller John C. Dugan before
the House Financial Services Committee
Financial
Reform
Oral Statement
http://www.occ.treas.gov/ftp/release/2009-127a.pdf
Written Statement
http://www.occ.treas.gov/ftp/release/2009-127b.pdf
OTS
10/29/09: Statement of John E. Bowman, Acting Director, OTS before
the Committee on Financial Services, United States House of Representatives
Financial Reform
http://files.ots.treas.gov/87183.pdf
OTS
11/03/09: CEO Letter 326
Revised TILA Examination Procedures
http://files.ots.treas.gov/25326.pdf
Link to Handbook Section
1305
http://files.ots.treas.gov/422227.pdf
Regulatory Bulletin 37-48
http://files.ots.treas.gov/74865.pdf
EBSA
10/28/09: News Release
U.S. Labor Department Bars Raymond Palombo from Running
Federally-Regulated Health Plans
http://www.dol.gov/ebsa/newsroom/2009/09-1318-SAN.html
U.S. TREASURY
10/30/09: Press Release
Report on U.S. Portfolio Holdings of Foreign Securities at End-Year
2008
http://www.treasury.gov/press/releases/tg340.htm
10/29/09: Written Testimony by Secretary Timothy F. Geithner before
the House Financial Services Committee
Financial Reform
http://www.treasury.gov/press/releases/tg335.htm
PBGC
11/04/09: Press Release
PBGC Expands Cooperation with the UK's Pensions Regulator and the
Pension Protection Fund
http://www.pbgc.gov/media/news-archive/news-releases/2009/pr10-04.html
Memorandum of Understanding between Pension Benefit
Guaranty Corporation and Pension Protection Fund and the Pensions Regulator
Concerning Cooperation in the Exchange of Information
http://www.pbgc.gov/about/memorandum.html
OFAC
10/30/09: Recent Actions
Anti-Narcotics
Designations Removals
http://www.treas.gov/offices/enforcement/ofac/actions/20091030.shtml
SDN List updated as of October 30, 2009 (in
Alphabetical Order)
http://www.treas.gov/offices/enforcement/ofac/sdn/t11sdn.pdf
SDN List Updated as of October 30 2009
(Additions since January 1, 2009)
http://www.treas.gov/offices/enforcement/ofac/sdn/t11sdnew.pdf
Narcotics Sanctions Brochure Updated as of
October 30, 2009
http://www.treas.gov/offices/enforcement/ofac/programs/narco/drugs.pdf
11/03/09: Recent Actions
Anti-Terrorism
Designations Removals
http://www.treas.gov/offices/enforcement/ofac/actions/20091103.shtml
SDN List updated as of November 3, 2009 (in
Alphabetical Order)
http://www.treas.gov/offices/enforcement/ofac/sdn/t11sdn.pdf
SDN List Updated as of November 3 2009 (Additions
since January 1, 2009)
http://www.treas.gov/offices/enforcement/ofac/sdn/t11sdnew.pdf
Terrorism Sanctions Brochure Updated as of
November 3, 2009
http://www.treas.gov/offices/enforcement/ofac/programs/terror/terror.pdf
FinCEN
10/29/09: FinCEN Advisory
Guidance to Financial Institutions Based on the FATF Statement on
AML/CFT Risks Posed by Iran, Uzbekistan, Turkmenistan, Pakistan, and São Tomé
and Príncipe
http://www.fincen.gov/statutes_regs/guidance/pdf/fin-2009-a007.pdf
CEBS (Committee of European Bank Supervisors)
10/30/09: Advice
Advice to the European Commission on
the Review of the Financial Conglomerates Directive
Related CEBS Press Release
11/03/09: Release
CEBS Today Publishes its Work Program
for 2010
http://www.c-ebs.org/Aboutus/Work-Programme/Work-programme-2010.aspx
DRAFT CEBS deliverables 2010
http://www.c-ebs.org/documents/About-us/Work-programme-2010/CEBS-work-programme-2010_Annex-1.aspx
11/03/09: Release
CESR, CEBS and CEIOPS also Publish
their 3L3 Work Program for 2010
http://www.c-ebs.org/documents/About-us/Work-programme-2010/3L3-Work-Programme-2010.aspx
11/03/09: Release
Advice on the Effectiveness of a
Minimum Retention Requirement for Securitizations
Advice
Impact Assessment
IOSCO
(International Organization of Securities Commissioners)
11/03/09: Consultation
Report
Private Equity Conflicts of Interest
http://www.iosco.org/library/pubdocs/pdf/IOSCOPD309.pdf
Related IOSCO News Release
http://www.iosco.org/news/pdf/IOSCONEWS171.pdf
FATF
10/30/09: Report
Mutual Evaluation Report of Aruba, Kingdom of the Netherlands
http://www.fatf-gafi.org/dataoecd/43/56/43988459.pdf
Executive Summary
http://www.fatf-gafi.org/dataoecd/63/31/43905012.pdf
Key Findings
http://www.fatf-gafi.org/document/63/0,3343,en_32250379_32236982_43988479_1_1_1_1,00.html
11/03/09: Speech by FATF President Paul Vlaanderen at the XVI
Caribbean Financial Action Task Force (CFATF) Council of Ministers Meeting,
Willemstad, Curaçao, Netherlands Antilles
The Need for Enhanced Transparency
http://www.fatf-gafi.org/document/50/0,3343,en_32250379_32236879_44002930_1_1_1_1,00.html
11/03/09: Report
Anti-Money Laundering and Combating the Financing of Terrorism: New Zealand
http://www.fatf-gafi.org/dataoecd/1/61/43998312.pdf
Executive Summary
http://www.fatf-gafi.org/dataoecd/31/24/43920251.pdf
GAO REPORTS
10/29/09: Testimony – GAO-10-181T
PBGC: Workers and Retirees Experience Delays and Uncertainty when
Underfunded Plans Are Terminated
http://www.gao.gov/new.items/d10181t.pdf
11/02/09: Report –
GAO-10-151
Troubled Asset Relief Program: Continued Stewardship Needed as Treasury
Develops Strategies for Monitoring and Divesting Financial Interests in
Chrysler and GM
http://www.gao.gov/new.items/d10151.pdf
FINRA
10/29/09: Press Release
AMF and FINRA Sign Memorandum of Understanding on Financial Market
Surveillance and Supervision
http://www.finra.org/Newsroom/NewsReleases/2009/P120301
11/04/09: Press Release
FINRA Bars California Broker for Insider
Trading
http://www.finra.org/Newsroom/NewsReleases/2009/P120328
11/02/09: Podcast
October 2009 Monthly Recap
MSRB
10/29/09: Press Release
MSRB Issues Statement on Regulatory and Enforcement Activities
http://www.msrb.org/msrb1/Press/Release/MSRBIssuesStatementonRegulatoryandEnforcementActivities.asp
MFA (Managed Funds Association)
10/29/09: Testimony of MFA President and CEO, Richard H. Baker,
before the U.S. House of Representatives Committee on Financial Services
Financial Reform
http://www.managedfunds.org/downloads/MFA%20Written%20Testimony.pdf
Related Press Release
IASB (International
Accounting Standards Board)
11/04/09: Press Release
IASB Simplifies Requirements for Disclosure of Related Party
Transactions
EBRI (Employee
Benefit Research Institute)
10/29/09: Press Release
Impact of Market
Activity on 401(k) Account Balances
http://www.ebri.org/pdf/PR.855_29Oct09.K_Val.pdf
Link
to October Issue Brief (note: originally included in
FSRAlert dated October 8, 2009)
http://www.ebri.org/pdf/briefspdf/EBRI_IB_10-2009_No335_K-Update.pdf
11/03/09: EBRI Notes
'Availability, Contributions, Account
Balances, and Rollovers in Account-Based Health Plans, 2006–2009' and
'Retirement Plan Participation and Asset Allocation, 2007'
http://www.ebri.org/pdf/notespdf/EBRI_Notes_11-Nov09.Ret-Part.pdf
Related
EBRI Press Release
http://www.ebri.org/pdf/PR.856_03Nov09.CDHP.pdf
ABC (American
Benefits Council)
10/30/09: Research Report
Assessing the Impact of Increases in Defined Benefit Plan Funding
Obligations on Employment during an Economic Recession
http://www.americanbenefitscouncil.org/documents/dbfunding-jobspaper103009.pdf
Related Press Release
http://www.americanbenefitscouncil.org/newsroom/pr09-35.cfm
FSA
10/29/09: Press Release
GMAC-RFC Limited Fined £2.8million for Unfair Treatment of Customers in
Arrears and Repossessions and Will Pay up to £7.7M Customer Redress
http://www.fsa.gov.uk/pages/Library/Communication/PR/2009/147.shtml
Link to GMAC-RFC Ltd Final Notice
http://www.fsa.gov.uk/pubs/final/gmac_rfc.pdf
10/29/09: Speech by Adair Turner, chairman, FSA at the
Economic Club of America and National Journal Group
Examining the Causes of the Financial
Crisis
http://www.fsa.gov.uk/pages/Library/Communication/Speeches/2009/1029_at.shtml
11/02/09: Press Release
FSA Chairman Adair Turner Says 'No Silver Bullet' to Address
'Too-Big-To-Fail' Challenge
http://www.fsa.gov.uk/pages/Library/Communication/PR/2009/148.shtml
Link to Chairman’s Speech
http://www.fsa.gov.uk/pages/Library/Communication/Speeches/2009/1102_at.shtml
Slides Accompanying Speech
http://www.fsa.gov.uk/pubs/other/turner_review_2_slides.pdf
Related News Article
Risk Center’s Daily Alert
11/03/09: Market
Risk - FSA Chairman Says ‘No Silver Bullet’ to Address ‘Too-Big-to-Fail’
Challenge
http://www.riskcenter.com/story.php?id=19164
For more agency information
and other relevant materials please consider a subscription to the FSR Alert by
emailingFSRAlert@verizon.net with
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