Securities Regulation & Law Report Index-Summary

FAILURE TO SUPERVISE

FAIR FUND DISTRIBUTIONS

FAIR VALUE

– Alternative investments, FASB to issue guidance proposal, 889; proposal issued, would expand disclosure requirements, 1126; guidance expected to be released by end of August, 1506; new guidance issued, 1841
– Auditors, PCAOB issues guidance, 791
– Balance sheets, private group calls for additional presentations to increase transparency, 1008
– Bank disclosures, groups urge Geithner not to tamper with standard, 324
– Canada, updated tax guidance for capital requirements issued, 31
– Controversy colors major accounting issues, Special Report, 170
– Financial instruments

– – Banks express concern and offer alternatives to FASB, 1507
– – Basel Committee issues new guidelines, 737
– – Combination fair value-OCI, compromise approach voted in by FASB, 1376; Basel Committee offers improvements, 1643
– – Definitions, tentative classification reached by FASB, 1597
– – EU calls on IASB to examine, 70; updated version of standard released, 436; changes to be made to comply with EU demands, 1969
– – FASB proposes guidance, seeks comments on FAS 107, 29; substitute language proposed aligning interim and annual reports, 140; new draft requires footnote reporting, 185; current value method proposed at FASB as possible alternative, 889; long-term goal towards full fair value accounting criticized by bankers and regulators, 1180
– – Scope, FASB to decide on items to exclude from treatment, 1552

– G-20 calls for increased clarity and consistency in valuations standards, 633
– Group of Thirty calls for principles-based balance in application of standard, 108
– House Financial Services panel to hold hearing, 434; FASB chairman promises further guidance under congressional pressure, 477; Dodd (D-Conn) warns against congressional response, 478; industry groups send letters to Congress and SEC to protest handling of accounting issues, 480; FASB issues draft guidelines, 534; IASB members disapprove of FASB draft, 537; FASB approves guidance, Frank (D-Mass) applauds move, 631; final staff positions issued, 679; impact to other than temporary impairment (OTTI) guidance draws criticism, 679; Goldman Sachs chief argues improper valuations at beginning of crisis created problems, 682; PCAOB, groups seek clarification and enforcement to realize benefits of FASB change, 736; FASB chairman defends expedited guidance, 834; informal trials of proposed disclosure increases will delay final rules, 1032
– IASB to publish exposure draft, comments sought, 140; draft measurement standard to be published despite changes by FASB, 535; disclosures on U.S. standards to be included in draft, 795; IASB will not adopt FASB standard, upcoming draft will enhance interim disclosure requirements, 835; EU threatens to withdraw from IASB process, 836; draft released for comment, 1033; IASB chief defends new guidance to EU Parliament, 1842
– Liabilities, revised proposed guidance to be re-exposed, 385; FASB guidance set for August release, 1335
– Measurement and disclosure, FASB to provide additional guidance, ABA concerned issues around impaired assets are ignored, 322
– Methodologies, Deloitte report examines SEC letters, 236
– SEC study finds standard played no meaningful role in credit crisis, recommends improvements, 28; Schapiro promises to examine issue, 149; Division of Investment Management to recommend SEC guidance, 251; Chamber of Commerce recommends implementation of study findings to improve TARP administration, 282; Bernanke supports SEC efforts in congressional testimony, 341; Bachus (R-Ala) and Blunt (R-Mo) send letter to Schapiro requesting immediate action, 479; Schapiro continues to oppose suspension of rule, 549; SEC amends Staff Accounting Bulletin on OTTI, 735
– Sensitivity analysis, FASB will not include in draft guidance, 1465; panel reverses decision, will include in footnote reporting proposal, 1507
– Visibility, Goldman Sachs CEO touts standard for preemptive power, 1706

FASB

See FINANCIAL ACCOUNTING STANDARDS BOARD (FASB)

FCPA

See FOREIGN CORRUPT PRACTICES ACT (FCPA)

FDIC

See FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC)

FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC)

– Credit line increase and more authority over failing institutions

See LEGISLATION, FEDERAL, S 896

– Systemic risk, Bair offers FDIC services to unwind nonbank firms, 507; Treasury plan to regulate names FDIC as resolution authority, 547; Bair says she would consider separate unit to address nonbank failures, 605; ABA opposes FDIC resolution authority for nonbank firms, 699; CRS report compares receivership with bankruptcy, 763; Bair supports resolution of large firms rather than bankruptcy, 807; House to create systemic risk regulator, Frank (D-Mass) tells conferees, 904; Treasury sends proposal to Congress giving FDIC resolution regime for “too big to fail” firms, 1387; FDIC and SEC urge Senate Banking Committee to give financial stability oversight council more power than Fed, 1388; Bernanke supports oversight council, 1814; Schapiro reiterates call for hybrid regulatory approach, 1888; House panel examines issues, 1928; further developments, see LEGISLATION, FEDERAL, S 664

FEDERAL ENERGY REGULATORY COMMISSION (FERC)

– Amaranth, natural gas trading settlement offer rejected by FERC, 319; settlement with SEC also ends FERC proceeding (S.D.N.Y.), 1549

FEDERAL PREEMPTION

See PREEMPTION

FEDERAL RESERVE BOARD

– Appointments and personnel issues, Governor, Senate hearing set for Tarullo appointment, 43
– Banking

– – Holding companies, application processing may be eased to avoid delay in troubled bank acquisitions, 747
– – Merrill Lynch acquisition, Bank of America CEO alleges Fed threatened to remove management if deal was canceled, 752; suits consolidated, lead plaintiffs chosen (S.D.N.Y.), 1309

– Broker-dealers, Fed will seek regulatory authority over financial holding companies, 748
– Consumer protection, Oversight Panel calls for Fed to set minimum standards, 155
– Emergency loan authority, new limits proposed, 503
– Money market mutual funds, eligibility and economic parameters widened, 53
– Mortgage-backed securities purchase program, Fed selects private firms as agents, 12
– Risk assumption, current exposure is almost unprecedented for central banks, survey says, 969
– Systemic risk oversight

– – Council of existing agency heads proposed by Collins (R-Me), 395; Bernanke supports oversight council, 1814; further developments, see LEGISLATION, FEDERAL, S 664
– – FDIC, Dodd (D-Conn) proposes as systemic risk regulator, 507
– – Menu of indicators for systemic stress risk needed, Philadelphia Fed President tells conferees, 458
– – New regulator for systemic risk, ICI white paper outlines regulatory framework, 396; House to create systemic risk regulator, Frank (D-Mass) tells conferees, 904
– – Ultimate regulator for large institutions, multiple proposals center on Fed, 202; Frank (D-Mass) supports grant of flexible regulatory powers, 206; Fed debated as regulator in House Financial Services panel hearing, 393; Fed as systemic risk oversight debated in Senate Banking Committee hearing, 450; payment and settlement, Bernanke says Fed could be overseer, 454; Fed seen as likely regulator of systemic risk, 499; witnesses at House Financial Services Comm. hearing debate systemic risk regulation, 502; private reform group advocates for wider Fed role, 1008; Obama administration unveils plan, 1137; Geithner defends administration plan at congressional hearing, 1142; ICI CEO cites concerns with Obama plan, 1145; NASAA applauds Obama plan, 1146; Paredes criticizes Obama plan, 1354; Investors' Working Group criticizes Fed as regulator, 1356; former Fed chairman objects to Treasury-led council as monitor, 1771; Bernanke supports oversight council, 1814

– Term Asset-Back Securities Loan Facility, Conn. Attorney General calls for increased competition in ratings, 673; urging rejected by Bernanke, Atty. Gen. calls on Treasury, 938

FEES

– Former football player charged in Treasury bill scam, no disclosure of performance fee (N.D. Tex.), 914
– Freedom of Information Act requests, SEC seeks comment on new schedule, 5
– Hedge funds, CalPERS proposes ending short-term performance fees, 604
– Investment advisers

See INVESTMENT ADVISERS

– Legal

See ATTORNEYS' FEES

– Mutual funds

– – Advisers

– – – Conduct as well as market need to be examined, claim reinstated (8th Cir.), 657
– – – Marketplace competition standard used to examine reasonableness (U.S., rev grant), 447; SEC will file amicus brief, 855; remand urged (amicus brief filed), 1191; court likely to define fiduciary duty, attorneys tell conferees, 1532; trade groups side with adviser (amicus briefs filed), 1665; Solicitor General amicus oral argument motion granted, 1859

– – Marketing and distribution, claim alleging excessive payments dismissed (S.D.N.Y.), 616
– – SLUSA, preclusion of some claims does not mandate complete dismissal (3d Cir.), 162

– NASAA, Inv. Adviser Registration Depository, some fees to be waived, 1903
– SEC rates for 2010 released, 860; rate advisory, 1813
– Supervisory failure, Baird settles FINRA claim re fee-based brokerage accounts, 301

FERC

See FEDERAL ENERGY REGULATORY COMMISSION (FERC)

FIDUCIARY DUTY

– Bankruptcy claim extinguishes shareholder rights (6th Cir.), 111
– Brokers, investment groups call on SEC to regulate like advisers, 699; Walter calls for “harmonization” of regulations covering broker-dealers and advisors, 854; Schapiro says harmonization is high on SEC agenda, 855; group predicts closer cooperation between FINRA and SEC, 971; Aguilar commends Obama for extending standard to broker-dealers, 1241
– Delaware

– – AIG, Greenberg and “inner circle” must face breach claims (Del. Ch.), 373
– – Dilution, issuance of new stock does not support claims re preferred shares, suit dismissed (Del. Ch.), 1327
– – Officers have same obligations as directors (Del.), 174; application of the business judgment rule to officers, Analysis and Perspective, 622
– – Sale of company, failure by directors to take unspecified steps to ensure best price did not breach duty (Del.), 578

– Fees

See FEES

– Former insider may pursue breach claims for nondisclosure during stock sales to insiders (Del. Ch.), 1589
– Insider trading

– – Basketball team owner, academics file amicus brief in claim based on confidentiality agreement (N.D. Tex.), 295; Cuban files FOIA claim seeking records relating to charges (D.D.C.), 1061; insider trading case dismissed, 1395; final decree entered, SEC may appeal, 1520; appeal filed (5th Cir.), 1854
– – Computer hackers, SEC to argue breaching network security was fiduciary violation, 248; hacker may be held liable (2d Cir.), 1410

– Insurance representative not subject to investment adviser standard (W.D. Okla.), 1677
– Investor Advisory Comm. holds first meeting, calls for clear definition of fiduciary standard, 1438; groups ask committee to avoid clear definition, 1524; subcommittees formed for education, services, and voting issues, 1724
– Mergers and acquisitions

See MERGERS AND ACQUISITIONS

– Oil and gas extraction projects, investor may proceed with fraud and contract breach claims, fiduciary claims fail (Del. Ch.), 627
– Representation found adequate in derivative claims against Ambac, pension funds unable to intervene (S.D.N.Y.), 917
– Utah, shareholders in closely held corporations owe (Utah), 1871

FILING REQUIREMENTS

See REPORTING REQUIREMENTS

FINANCIAL ACCOUNTING STANDARDS BOARD (FASB)

– Advisory Committee recommendations, FASB to adopt Pozen Panel improvements, 1553
– Application of standards, Obama plan calls for clarifications and consistency, 1141
– Arbitration

See ARBITRATION

– Business combinations, SEC adopts amendments to align with FASB standards, 735; Staff Accounting Bulletin published, 1083
– Codification of GAAP, online reference system launched, 1280; SEC clarifies references, 1599
– Credit losses, discussions begin on revising loan loss allowance disclosures, 536; exposure draft issued, 1224
– Debt securities, impairment accounting guidance to be issued, 69; guidance issued, 631; final staff positions issued, 679
– Disclosure framework, staff to begin work on project, 1281; deliberations to begin, 1336
– Embedded credit derivatives, FASB to defer effective date of proposed new guidance, 435
– Emerging Issues Task Force treatments, Accounting Brief, 1285; positions issued, comments sought, 1841
– Fair value

See FAIR VALUE

– Financial Crisis Advisory Group, full roster named, 32
– Financial instruments

– – Classification as equity or liability begins, 536; support expressed for tentative principles, 890; deliberations continue, draft standard due in fourth quarter, 1225; tentative decision on definition, 1597; continued progress reported, 1643
– – Combination fair value-OCI, compromise approach voted in, 1376; Basel Committee offers improvements, 1643
– – Comprehensive model may be issued with IASB by year end, 637; common standard an area of focus, 991; tentative deadlines set for resolution of issues, 1180
– – Compromise approach between fair value and amortized cost probable, key meeting to be held, 1224
– – Deferred tax assets and liabilities to become part of project, 1909
– – Embedded credit derivatives exception, revised proposal issued, 1909
– – IASB convergence, pressure on standards setters is creating threats to future of international standards, official says, 1035; panels are close on income reporting, 1757; panels moving away from convergence, 1877
– – Impairment, tentative decision made on model, 1967
– – Meetings scheduled to complete proposals, 1378
– – Post-mortem urged to identify information that would have helped to predict and avoid crisis, 1127

– Financial statements, tentative decision to segregate business and financing activities, 1803
– Impairment accounting

– – Other than temporary impairment, final staff position issued, 679; new guidance draws doubts and criticism, 679; SEC amends Staff Accounting Bulletin, 735; PCAOB issues guidance to auditors, 791
– – Recognizing and measuring impaired assets is flawed in both IFRS and GAAP, IASB member tells conferees, 888
– – Reporting requirements, enhanced footnotes on loan losses to be required by FASB, 789
– – Revenue recognition, discussion paper issued on measurement of rights and performance obligations, 635
– – Sale accounting, FASB tightens criteria for securitizations, 434
– – XBRL, problem with aligning reporting tags with GAAP to be solved by codification rollout, 383

– Independence, experts warn of politicizing influence, Special Report, 170; Consumer Federation executive criticizes FASB for bowing to congressional pressure, 549
– Lease accounting, joint reform proposal with IASB issued, 535; discussion paper issued, comments sought, 634
– Loss contingencies, decision on deferring effective date for disclosure delayed, 1598
– Mergers and acquisitions, FASB finalizing accounting guidance on contingent items, 384; final guidance published, 633
– Mortgage-backed securities, impairment guidance issued, 98
– Noncontrolling interests, SEC adopts amendments to align with FASB standards, 735
– Not-for-profit advisory committee, Accounting Brief, 1975
– Off-balance sheet activities

– – Amendments to guidance expected in June, 991; U.S. Chamber of Commerce group urges joint project with IASB to minimize disruptions, 1087; new rules issued, 1179
– – Banking, FASB working with regulators on results of “stress tests,” 991
– – Circumventing elimination of QSPE, SEC to actively monitor activity, 1284
– – Common standards with IASB, joint commitment released, 587
– – Variable interest entities, reconsideration of status, 186; tentative language reached, 635; FASB to issue final rules on VIEs and securitizations, 737; new rules issued, 1179

– Oil and gas accounting, draft of modernized disclosure requirements circulated, 1757
– Passthrough and tax-exempt nonprofits, comments sought on current accounting for uncertainty in income taxes, 993
– Publishing information to affect securities prices, rule change, In Brief, 1738
– Revenue recognition, performance obligation to drive decision on amount to record, 1126
– Subsequent events, new standard issued on events or transactions after balance sheet date, 1032
– Taxes, passthrough entities and not-for-profits, proposal on uncertainty to be finalized, 1336; guidance amended, 1704
– Transparency, requirement for annual congressional testimony by chairman

See LEGISLATION, FEDERAL, HR 2664

FINANCIAL INDUSTRY REGULATORY AUTHORITY (FINRA)

– Advantages of SRO system highlighted by Ketchum, 1145
– Annual report shows net loss for FY2008, 1443
– Appointments and personnel issues, CEO, Luparello to serve in interim post, search committee established, 105; Ketchum named, 336
– Arbitration

See ARBITRATION

– Authority, FINRA may enforce fines against members under contractual and quasi-governmental grounds (S.D.N.Y.), 663
– Breakpoint discount compliance, firms settle claims, 554
– Cease and desist orders, FINRA seeks permanent authority from SEC, 966
– Check fraud, FINRA warns public re scams using names of seemingly legitimate sources, 1367
– Credit default swaps, FINRA asks SEC to approve rule changes to establish margin rules pilot, 512; SEC grants accelerated approval to rule change implementing pilot, 1007
– Disciplinary histories, FINRA proposes making final actions available permanently, 814
– Enforcement process, guidance document released, 562
– Executives, bill to grant SEC power to pursue violations of securities laws after resignation

See LEGISLATION, FEDERAL, HR 2623

– Financial planners, FPA asks SEC to clarify FINRA authority, 1568
– Fines and enforcement actions lower than in previous year, study finds, 1163
– Front-running, expansion of ban, comments sought, 12
– Hedge funds, FINRA reviewing broker-dealer advisory businesses, 109
– Investment advisers, officials and executives urge expansion of FINRA authority, 561; group predicts closer cooperation between FINRA and SEC, 971; Ketchum calls for authority over investment advisers, 1103
– Liquidity, new financial responsibility rules, comments sought, 168
– Litigation, study shows fighting claims is likely to reduce sanctions, 303
– Madoff fraud, Inspector General expands investigation of oversight failures, 41; regulators testify at Senate hearing, 150; SEC and FINRA testify at House hearing, 194
– Money laundering, E*Trade settles charges over failure to institute policies and procedures, 86
– NASD/NYSE Regulation merger, claims filed over alleged falsehoods (S.D.N.Y.), 52; appeal rejecting challenge dismissed as moot, substantive issues still remain (2d Cir.), 516
– Payments to influence stock price, Federal Brief, 1494
– Records inspection, brokerage alleges misconduct and failure to oversee members (D.C. Super. Ct.), 1587
– Registration application forms, changes approved by SEC, 967
– Regulatory reform, Financial Services Roundtable urges extension of authority over additional entities, 202; Obama outlines key principles, 335; Kanjorski (D-Pa) circulates discussion drafts of legislation, 1813; House Financial Services Comm. hearing discusses Kanjorski draft, 1857
– Rumors, regulators examine measures to halt spread of false information, Special Report, 1170
– Self-trades, rule change increases flexibility for NYSE firms, 1955
– Short sale data, monthly information now available on FINRA website, 1819
– Sweeps

– – Broker-dealers, Ketchum announces broad regulatory reviews, 1103
– – Municipal bonds, FINRA announces investigations, 1242

– TRACE system, proposed expansion to cover government debt, 476; SEC clears expansion, 1819; expansion sought for asset-backed securities, 1819
– UIT sales charge discounts and mutual fund suitability, Wachovia fined for violations, 257
– Whistleblowers

– – Arbitration, Grassley asks FINRA if it followed up on statements made by ex-Lehman analyst, 1058
– – New office to expedite review of high-risk tips established, 401
– – Stanford Group fraud, FINRA releases report on oversight failures, 1816

FINANCIAL INSTRUMENTS

– Fair value

See FAIR VALUE

– FASB treatment

See FINANCIAL ACCOUNTING STANDARDS BOARD (FASB)

– IASB treatment

See INTERNATIONAL ACCOUNTING STANDARDS BOARD (IASB)

FINANCIAL RESTATEMENTS

– Autodesk options backdating action dismissed for failure to plead presuit demand futility (N.D. Cal.), 23
– Automobile supplier, fraud suit over restatement dismissed (N.D. Ohio), 1707
– Blockbuster restatement of cash flows after divestiture does not create claim against former parent (Del.), 224
– H&R Block, scienter not found in suit over restatement, lead plaintiff replaced in derivative claim (8th Cir.), 1705
– TARP, retroactive compensation standards may require re-filing, 300

FINRA

See FINANCIAL INDUSTRY REGULATORY AUTHORITY (FINRA)

FIREARMS AND WEAPONS

– Forward-looking statements, fraud allegations against gun manufacturer may only relate to past and present demand evaluations (D. Mass.), 666

FOIA

See FREEDOM OF INFORMATION

FOOD

See also AGRICULTURE
– Auditors for U.S. Foodservice, oral argument held over initial decision for accountants who did not detect fraud (SEC), 1425
– Grocery stores

See GROCERY STORES

– Krispy Kreme and executives settle charges over earnings manipulation (SEC), 432
– Mars/Wrigley merger, settlement approved (Del. Ch.), 226
– Parmalat collapse, liability claims against parent of auditor may proceed (S.D.N.Y.), 182; related suits against banks and accounting firms fail to allege knowledge or assistance in fraud, dismissal proper (2d Cir.), 323; related claims against banks and accounting firms fail to allege knowledge or assistance in fraud, dismissal proper (2d Cir.), 323; reconsideration refused, evidentiary factors must be considered as a whole, 382; correction, 438; court declines to certify vicarious liability questions for interlocutory appeal, 482; Parmalat suit against auditor and bank dismissed for unclean hands, 1802; (U.S., rev den), 1859
– Pasta executives sentenced to prison terms for overstated earnings (W.D. Mo.), 1974
– Restaurants, fraud action over unmet growth projections dismissed (M.D. Fla.), 1572
– Rica Foods and CEO settle disclosure claims re related-party transactions (S.D. Fla.), 15
– Soda manufacturer, allegations do not meet PSLRA standard, suit dismissed (W.D. Wash.), 1249

FOREIGN CORRUPT PRACTICES ACT (FCPA)

– Aircraft depot, defense contractor and president of subsidiary settle charges (D.D.C., SEC), 1069
– Books and records, internal controls, and payments to political parties becoming part of SEC enforcement focus, experts tell conferees, 760
– China

– – ITT settles charges over bribes to government officials (D.D.C.), 256
– – Software executive settles claims (D.D.C.), 1619

– Derivative action, no presuit demand made on oil field services company board for claims based on FCPA settlement (S.D. Tex.), 1075
– Due diligence, experts advise companies on avoidance of FCPA liability, 759
– Economic crisis to increase crime under FCPA, panelists tell conferees, 1667
– Energy service control valves firm pleads guilty (C.D. Cal.), 1490
– Enforcement trends to continue, experts tell conferees, 157; additional resources would increase pace of prosecutions, official tells conferees, 404; SEC enforcement to remain strong under new leadership, official tells conferees, 602
– Health care

– – Brazil, firm settles charges over bribes to customs officials, 1490
– – Risks in medical device and pharmaceutical sectors, attorneys warn conferees, 1306

– Individual liability, executives need to be vigilant, Attorney Insight, 1495
– Iraq, Oil for Food kickbacks

– – Motor vehicle company and subsidiary settle claims (D.D.C.), 10
– – Pharmaceutical company settles claims (D.D.C.), 915

– Nationalization and stock ownership may implicate companies, panelists say, 758
– Nigeria, Halliburton settles charges re oil field bribes, 157; record fines to be paid (S.D. Tex.), 256; employees of subsidiary indicted, 403
– Oil drilling company settles civil and criminal charges (SEC), 1450
– Oil for Food kickbacks, agricultural manufacturer settles claims (D.D.C.), 1825
– SEC enforcement trends, Analysis and Perspective, 1255
– Specific industries not targeted for enforcement actions, DOJ officials tell conferees, 1933
– Top 10 SEC enforcement developments of 2008, Analysis and Perspective, 360
– Trends and developments, Analysis and Perspective, 466
– Voluntary reporting, companies with effective compliance programs face less severe consequences, SEC official says, 1934

FOREIGN CURRENCY

See CURRENCY

FORGERY

– Commodity pools, forged documents and misappropriated funds, fund and owner settle charges (CFTC), 26
– Hedge fund, falsified brokerage statements overstated assets, emergency relief ordered (W.D. Tex.), 813
– Mass., investment adviser charged with fraudulent transfers from client accounts (Mass. Sec. Div.), 581
– Ponzi scheme, investment adviser used false documents to convert funds (E.D.N.Y.), 618; guilty plea entered in criminal charges, 1207
– Terminally ill and mentally impaired clients targets of theft, investment adviser settles with SEC, faces criminal charges (S.D.N.Y.), 1111

FRANCE

– Bonuses, new calculation rules for stock traders at banks, 254
– Brokerage, NYSE censures firm for unapproved Paris branch, 303
– Credit rating agencies, AMF seeks greater national oversight in EU scheme, 158
– Euro Disney, AMF fines CEO for false reporting of hostile bid, 868
– Insider trading, MoneyLine CEO fined by AMF, 114
– Madoff fraud, investor complaint names UBS, 160
– Market professionals, AMF announces new certification rules, 351
– Money laundering, AMF calls for comments on draft changes to regulation, 1820
– Money market funds, AMF publishes classification criteria for euro funds, 1820
– Offerings, AMF reforms align French rules with EU and simplify buybacks, 705
– Shareholding thresholds and declarations of intent, new rules published, 1489

FRAUD

– Affinity fraud

See AFFINITY FRAUD

– Aiding and abetting

See LEGISLATION, FEDERAL, S 1551

– Argentinean trader, unauthorized trading and false information, default judgment (D. Conn.), 27
– Boiler room operations

See BOILER ROOM OPERATIONS

– Check fraud, FINRA warns of scheme involving fake instruments, 1367
– Criminal cases

See CRIMINAL LAW AND PROCEDURE

– Fictitious enterprises, scam operator sentenced (C.D. Cal.), 1579
– Hedge fund adviser arrested on criminal fraud charges (S.D.N.Y.), 162
– Insider trading

See INSIDER TRADING

– Investment advisers

See INVESTMENT ADVISERS

– Madoff fraud

See MADOFF FRAUD

– Mail fraud

See MAIL FRAUD

– Money laundering

See MONEY LAUNDERING

– Mortgages

See REAL ESTATE

– Oil and gas

See OIL AND GAS

– Ponzi schemes

See PONZI SCHEMES

– Receiver not appointed where serious impropriety is not basis of main complaint (S.D.N.Y.), 563
– Recovery and Enforcement Act

See FRAUD RECOVERY AND ENFORCEMENT ACT

– Scienter

See SCIENTER

– SEC staff, agency warns of con artists posing as investigators, 401
– Wire

See WIRE FRAUD

FRAUD RECOVERY AND ENFORCEMENT ACT

– Financial Crisis Inquiry Comm'n, appointments announced, 1361

FREEDOM OF INFORMATION

– Discovery, use of FOIA as tool against SEC debated by attorneys, 1273
– Fee schedule updates, SEC seeks comments, 5
– Insider trading, basketball team owner files FOIA claim seeking records relating to charges (D.D.C.), 1061; summary judgment schedule proposed, 1854
– SEC Inspector Gen. calls for support of Chief FOIA Officer, 1812

FREEDOM OF SPEECH

– Credit rating agencies not shield from state law fraud liability (S.D.N.Y.), 1693; additional claims dismissed, 1958
– Mass., hedge fund administrative action over unregistered securities did not violate (Mass. Super. Ct.), 1835
– Regulation FD, Analysis and Perspective, 417
– Sale of stock tips, no exceptions for disinterested publishers (4th Cir.), 1729

FUTURES

– Agriculture

See AGRICULTURE

– Clearance and settlement, CFTC seeks comments on adequacy of German standards for operation in U.S., 945
– Commodity forward agreements distinguished from futures contract, may be exempt from bankruptcy trustee avoidance powers (4th Cir.), 318
– Contract design, CFTC announces workshop, 1030
– Cooperative actions, UK oversight body and CFTC announce joint strategy, 1593; supervision agreement signed, 1752
– Currency

See CURRENCY

– Customer segregated funds, CFTC soliciting comment on possible proposal to revise list of approved investments, 1029
– Designated contract market, ELX Futures approved by CFTC, 1030
– Energy

See ENERGY

– Fraudulent solicitation charges settled (D. Md.), 989
– Futures commission merchants

– – Bankruptcy, CFTC proposes new account class for customer positions, 1549
– – Bunched orders and allocations, FCM settles claims (CFTC), 584
– – Capital requirements, CFTC seeks increase for FCMs and introducing brokers, 944; comment letter says proposal would be anticompetitive, 1333
– – Commingling of funds, firm settles charges (CFTC), 1702

– Hedge fund, trading report communicated but did not cause loss, claim dismissed (S.D.N.Y.), 676
– Hill Watch, overview of pending bills, chart, 726; 1636
– Index products

– – Hang Seng indexes, mini futures contracts allowed by CFTC no-action letter, 181
– – NYSE Liffe US to introduce futures products based on MSCI indices, 1030

– Market manipulation

– – Reckless conduct standard

See LEGISLATION, FEDERAL, S 1682

– – Specific intent standard is too stringent, Chilton tells conferees, 1750

– Material misstatements and mishandling accounts, trading advisor pays restitution and penalties (W.D. Mich.), 945
– Oil and gas

See OIL AND GAS

– OTC trading, Peterson (D-Minn) circulating bill outline limiting speculation, 95; new draft to allow some uncleared OTC trades and outlaw naked swaps, 179; Peterson insists CFTC is best choice for OTC derivatives clearing, 230; industry representatives support goals of potential legislation, but disagree on tactics, 232; further developments, see LEGISLATION, FEDERAL, HR 977, S 447
– Ownership and control reports, CFTC submits advanced notice of proposed rulemaking, 1278
– Ponzi scheme, SEC and CFTC announce charges (E.D. Pa.), 54; requests to unfreeze assets for personal expenses denied, 410
– Position limits

– – Bank holding companies, Sanders (I-Vt) asks CFTC to classify as “noncommercial” participants, 1081
– – Exemptions for noncommercial hedging, Gensler in favor of discontinuing, 1460

– Quadruple Witching, Citigroup settles FINRA claim for erroneous quotations and supervisory failures, 509
– Regulated exchanges, mandate to trade on designated markets

See LEGISLATION, FEDERAL, S 272

– Regulation, IOSCO task force concluded regulators lack necessary data, 429
– Sham international investment bank faces CFTC fraud claims (S.D. Fla.), 378
– Significant price discovery

– – Carbon Financial Instrument, inquiry launched, 1594
– – ICE, CFTC exercising enhanced authority to determine if listing performs function, 1123; order finds contract merits greater oversight, 1462; 24 contracts targeted for scrutiny, 1874; 6 more contracts examined, 1964

– Statistics and data, CFTC launches trial reports, 233
– Taiwan Futures Exchange and Nasdaq sign MOU for possible partnership, 511
– Transparency, CFTC to provide disaggregated data reports, 1698
– Treasury notes

– – Class certification affirmed for claims against firm attempting to corner the market (7th Cir.), 1331
– – Traders indicted for noncompetitive trades (N.D. Ill.), 629

– Unauthorized trading

– – Funds solicited for bridge loans and merchant advances used for trading, CFTC claims filed (E.D.N.Y.), 233
– – Unlawful commissions and fees netted from unauthorized trades, CFTC seeks sanctions (W.D. Tex.), 677