On February 13, 2009, the United States Congress passed the American Recovery and Reinvestment AOn February 13, 2009, the United States Congress passed the American Recovery and Reinvestment Act of 2009 (the “Act”). ct of 2009 (the “Act”).

In the wake of the growing turmoil and uncertainty in the financial markets, the Securities and Exchange Commission and other regulators are being more vigilant and aggressive in conducting investigations and examinations of hedge fund advisers.

On June 24, 2009, the Securities and Exchange Commission (the “SEC” or the “Commission”) held an open meeting (the “Meeting”) to consider a recommendation from the Staff of the Division of Investment Management (the “Division”) to propose amendments to Rule 2a-7 (the “Rule”) under the Investment Company Act of 1940 (the “Act”).

On March 26, 2009 the U.S. Department of the Treasury outlined its framework for financial regulatory reform in a release and through Secretary of Treasury Geithner’s testimony before the U.S. House of Representatives Committee on Financial Services.

The UK Financial Services Authority has announced a ban on new short positions in UK financial sector companies with effect from September 19, 2008.

On February 17, 2009, President Obama signed into law H.R. 1, the “American Recovery and Reinvestment Act of 2009”. The Act provides $787 billion in new spending and tax incentives which are intended to provide economic stimulus for the American economy, and contains specific provisions designed to address energy requirements and climate change. This Update contains a summary overview of the principal energy-related expenditure initiatives contained in the Act.

On October 27, 2021, the U.S. Court of Appeals for the District of Columbia Circuit denied a motion filed by five Republican state attorneys general to stay EPA's June 2021 rule delaying the effective date...

On Monday, February 7, the U.S. District Court for the Eastern District of Michigan denied in part a professional engineering company's motion for summary judgment in Walters et al. v. Flint et al., part of the ongoing Flint water litigation.

Last week, the U.S. Environmental Protection Agency (EPA) granted petitions to reconsider air quality standards for ground-level ozone pollution set under the Trump administration in December 2020.

On Friday, the state of Texas and Texas Commission on Environmental Quality filed a petition for review in the U.S. Court of Appeals for the District of Columbia Circuit challenging the Environmental Protection Agency...

Over the past year, opponents of coal-fired power have filed high-profile appeals of Prevention of Significant Deterioration (PSD) permits issued for new coal-fired power plants. The appeals claim the U.S. Supreme Court’s decision in Massachusetts v. EPA requires agencies to regulate carbon dioxide emissions. More recently, a new petition claims that before issuing a PSD permit, an agency must consult with federal agencies under the Endangered Species Act (ESA) because carbon dioxide emissions a

On October 14, 2008, the Department of the Treasury, the Board of Governors of the Federal Reserve System and the Federal Deposit Insurance Corporation announced the implementation of “extraordinary steps” designed to bolster public confidence in U.S. financial institutions and the U.S. economy generally.

On July 21 and July 22, 2009 the Obama Administration proposed legislation (the “proposed legislation”) to implement the securitization and rating agency reform proposals (the “reform proposals”) contained in its Financial Reform Plan announced on June 17, 2009.

In the first class certification ruling stemming from the spate of ERISA class actions against 401(k) plan providers challenging so called "revenue sharing," the federal court in the Southern District of Iowa has denied class certification.

On September 5, 2008, the Financial Industry Regulatory Authority Inc. issued interpretive guidance on the net capital treatment of introducing broker-dealers’ clearing deposits.

Life is getting harder for boards of directors of public companies. Increased scrutiny of companies — particularly in heavily regulated industries — has led to greater risk of criminal and civil liability.

Yesterday, the Staff of the U.S. Securities and Exchange Commission (SEC) elaborated on existing rules and interpretations to make clear that, in the context of an M&A transaction, Regulation G ...

This week the Department of Justice ("DOJ") published inflationary adjustments to civil monetary penalties.

Privacy and cybersecurity concerns are expanding, and with them the proliferation of laws and regulations. Boards play a key role in ensuring that companies are positioned to comply...

This update highlights a number of important developments regarding the regulatory framework for the short-selling of securities.