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The Securities and Exchange Commission announced on October 2 a six-month extension of the date on which non-accelerated filers must begin to comply with the auditor attestation requirement under Section 404(b) of the Sarbanes-Oxley Act.

The SEC, without an open meeting, adopted on Dec. 21, 2011, final rules regarding accredited investor net worth and mine safety disclosure.

As discussed in our July 20, 2009 Update, the Securities and Exchange Commission in June 2009 proposed amendments to the federal proxy rules to expand access to the board of directors nomination process for eligible shareholders.

The SEC issued a 517-page release proposing (i) amendments to existing rules and (ii) new rules, that would apply to credit rating agencies registered with the SEC as nationally recognized statistical rating organizations ("NRSROs").

The SEC has extended the July 14, 2011 compliance date for certain provisions of Rule 15c3-5 under the Securities Exchange Act of 1934. Rule 15c3-5 requires brokers or dealers with access to trading securities directly on an exchange or alternative trading system ("ATS") and broker-dealer operators of an ATS that provide access to trading securities directly on their ATS to a person other than a broker-dealer, to establish, document and maintain a system of risk management controls and superviso

The SEC staff announced on Dec. 1, 2011, that it would speed up the public release of staff comment letters and issuer responses to those comment letters. From 2005 through 2011, the SEC staff has released these letters to the public "no earlier than 45 days" following the conclusion of the staff’s review of the issuer’s filings.

On October 7, 2008, the Securities and Exchange Commission ("SEC" or the "Commission") released a statement regarding the expiration of the emergency order (the "Order") prohibiting persons from short selling in the securities of financial companies.

Last week, the United States Senate passed an extension of the Mortgage Debt Forgiveness Act.

Under current law, taxpayers who have mortgage debt canceled or forgiven after 2014 may be required to pay taxes on that amount as taxable income.

Last week, the U.S. Supreme Court heard argument in an appeal from the U.S. Court of Appeals for the Eighth Circuit that involves an interpretation of a provision under the Truth-in-Lending Act that has caused a split among the lower courts.

On April 9, 2020, the Board of Governors of the Federal Reserve System (the "Federal Reserve") issued a press release indicating that the Term Asset-Backed Securities Loan Facility ("TALF") …

The Tenth Circuit held that a borrower’s written notice of rescission within TILA’s three-year rescission period is insufficient to effectively exercise or preserve the right to rescind, when the borrower does not also timely bring an action for rescission.

The CFPB released a bulletin to provide guidance about private mortgage insurance cancellation and termination.

A proprietary trading firm settled NYSE Arca charges for risk management failures as to controls over erroneous orders and capital limits.

According to the collective opinion of major hedge funds, institutional investors, Wall Street proprietary and trading desks and large commercial lenders, the over-leveraged and irrationally exuberant financings in recent years will create robust opportunities for distressed investors in 2008.

On December 22 and 23, U.S. Bank National Association, as trustee for three RMBS trusts, filed three separate summonses with notice in the Supreme Court of the State of New York.

The rule, which became effective October 3, 2015, requires institutions supervised by the CFPB to introduce more simplified mortgage disclosure forms.