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ARTICLE · 07 SEPTEMBER 2011

Financial Services Alert – September 6, 2011

Goodwin Procter LLP
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FINRA has published Regulatory Notice 11-39 providing guidance on business communications on social media websites and on personal devices, particularly with respect to recordkeeping and supervision.

United StatesFinance and Banking
Robert Kurucza
Robert Kurucza

Developments of Note

  • FINRA Issues Further Guidance on Social Media Websites and Use of Personal Devices for Business Communications
  • FDIC Files Complaint Against Former Directors and Certain Officers of Failed Silverton Bank, N.A. Alleging Lavish Spending that Constituted Corporate Waste and Breach of Fiduciary Duties to the Bank
  • SEC Requests Comment on Issues Related to the Use of Derivatives by Registered Funds and BDCs
  • FRB Seeks Comments on Information Collection Proposal that Would Allow Savings and Loan Holding Companies a Two-Year Phase-In Period to File FRB Regulatory Reports and Would Exempt a Limited Number of SHLCs from Initial Reporting

DEVELOPMENTS OF NOTE

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