Securities Regulation & Law Report Index-Summary

LACHES

– Disgorgement, delay by government in determining penalties is not abuse of discretion (11th Cir.), 967

LATE TRADING

– Bahamas hedge fund and UK adviser settle claims (S.D.N.Y.), 1244
– Deception lacking in broker activity, lawyer seeking reversal of decision argues (SEC), 1412; oral argument alleges rule does not bar trading after 4, 1451

LAWYERS

See ATTORNEYS
– Fees

See ATTORNEYS' FEES

LEGISLATION, FEDERAL

– Ed. Note: This heading covers legislation with assigned numbers only. For information on measures without assigned numbers, see specific subject headings.
– House

– – Hill Watch Futures, overview of pending bills, chart, 726; 1636
– – Hill Watch Securities, overview of pending bills, chart, 719; 1632
– – HR 302, Short sales, mandatory reinstatement of uptick rule, Ackerman (D-NY) reintroduces, Schwab supports, 52
– – HR 627, Credit Cardholders' Bill of Rights Act, Maloney (D-NY) reintroduces, 393
– – HR 682, Stop Trading on Congressional Knowledge Act, Slaughter (D-NY) and Baird (D-Wash) introduce, 153; witnesses tell panel that bill has merit but is insufficient, 1358
– – HR 711, Hedge Fund Adviser Registration Act, introduced by Capuano (D-Mass), referred to Financial Services Comm., 296; capital markets panel holds hearing, threshold asset levels may be set, 865; NASAA supports bill, 1027; Analysis and Perspective, 1316
– – HR 885, Improved Financial and Commodity Markets Oversight and Accountability Act, Larson (D-Conn) sponsors, passed by Oversight and Gov't Reform Comm., 858; House passes bill, 1099; Senate committee passes, 1437
– – HR 977, Derivatives Markets Transparency Act, Peterson (D-Minn) sponsors, 277; Chilton praises bill, calls for CFTC power to litigate criminal cases, 278; House Agric. Comm. clears, 317; other committees have stakes in bill, may debate and vote on those areas, 376; corporate derivatives users urge exemptions from mandatory clearing, 1752
– – HR 1020, Arbitration Fairness Act, supported by NASAA, 985; Obama plan requests studies, Special Report, 1213
– – HR 1068, Let Wall Street Pay for Wall Street's Bailout Act, DeFazio (D-Or) introduced, opposed by STA, 359
– – HR 1105, Omnibus Appropriations Act, Obama signs, 448
– – HR 1159, Ponzi schemes, tax relief for victims, introduced by Meek (D-Fla), 459
– – HR 1212, Sarbanes-Oxley, amendment subjecting auditors of nonpublic broker-dealers to PCAOB oversight, introduced by Kanjorski (D-Pa), 811
– – HR 1349, Federal Accounting Oversight Board, Perlmutter (D-Colo) and Lucas (R-Okla) introduce bill to create, 479
– – HR 1669, Federal Municipal Bond Marketing Support and Securitization Act, Connolly (D-Va) introduces, bill referred to Financial Services Committee, 553
– – HR 1748, Fight Fraud Act, Judiciary Committee approves, 802
– – HR 2346, Financial Services and General Government Appropriations Act, Appropriations Committee clears bill, 1295
– – HR 2448, Prevent Unfair Manipulation of Prices Act, Stupak (D-Mich) introduces, 988
– – HR 2454, American Clean Energy and Security Act, passed in the House, 1331
– – HR 2609, Federal Insurance Office Act, 1926
– – HR 2622, Compliance, Examinations, and Inspections Restructuring Act, introduced by McCarthy (R-Cal), 1054
– – HR 2623, Self-regulatory organizations, bill to clarify SEC power to enforce liability of executives after resignation, approved by House, 1434
– – HR 2664, Promoting Transparency in Financial Reporting Act, passed House, 1704
– – HR 2733, Fixed Indexed Annuities and Insurance Products Classification Act, Meeks (D-NY) introduces, 1150
– – HR 2861, Shareholder Empowerment Act, Peters (D-Mich) introduces, 1101
– – HR 3126, Consumer Financial Protection Agency Act, Frank (D-Ma) introduces, 1322; vote delayed, 1389; witnesses express concern re possible regulatory overlap, 1398; Obama expresses support for proposed agency in speech, 1720; Frank plans to release new draft, 1772
– – HR 3145, Credit Default Swap Prohibition Act, Waters (D-Cal) introduces, Schapiro warns of potential for systematically disruptive unwinding, 1391; hearing examines proposal, 1396
– – HR 3170, Financial Services and General Government Appropriations Act, SEC funding would appropriate more for SEC than Obama requested, 1387
– – HR 3269, Corporate and Financial Institution Compensation Fairness Act, Frank (D-Mass) introduces, House clears bill, 1433; panelists at ABA conference criticize bill, 1482
– – HR 3300, Derivative Trading Accountability and Disclosure Act, McMahon (D-NY) introduces, 1397
– – HR 3346, Foreign auditor oversight bodies, would allow sharing of confidential supervisory information, bill introduced by Frank (D-Mass), 1645
– – HR 3550, Senior Investor Protections Enhancement Act, introduced by Hodes (D-NH) and Moore (D-Wisc), 1682
– – HR 3775, Small Business SOX Compliance Relief Act, Garrett (R-NJ) introduces, 1910
– – HR 3795, Over-the-Counter Derivatives markets Act, Frank (D-Mass) sponsors, Financial Service Comm. votes to recommend, 1885; Agric. Comm. approves, 1961
– – HR 3817, Investor Protection Act, markup scheduled, 1926
– – HR 3818, Private Fund Investment Advisers Registration Act, markup scheduled, 1926

– Senate

– – S 1, American Recovery and Reinvestment Act, Dodd (D-Conn) and Dorgan (D-ND) plan amendments to apply further executive compensation restrictions, 205; further developments, see AMERICAN RECOVERY AND REINVESTMENT ACT (ARRA)
– – S 272, Derivatives Trading Integrity Act, Harkin (D-Iowa) introduces, 94; Harkin to hold hearing featuring Gensler, 987
– – S 344, Hedge Fund Transparency Act, Grassley (R-Iowa) and Levin (D-Mich) introduce, 152; Frank (D-Mass) supports complete hedge fund transparency, 206; SEC staff watching legislation, 251; critics say Act does not address systemic risk, 296; AICPA advises caution in regulation of hedge funds, 811; Analysis and Perspective, 1316
– – S 386, Fraud Enforcement and Recovery Act, Leahy (D-Vt) and Grassley (R-Iowa) introduce, DOJ official supports measure in Judiciary Comm. hearing, 257; bill cleared by voice vote, 429; budget amendment passes, cloture motion agreement reached, 754; approved by Senate, 802; Khuzami tells Senate panel additional funds would go to support staff, IT support, and trial attorneys, 849; House passes bill with changes, 858; Obama signs, 958; further developments, see FRAUD RECOVERY AND ENFORCEMENT ACT
– – S 447, Prevent Excessive Speculation Act, Levin (D-Mich) introduces, 317
– – S 481, FBI Priorities Act, introduced by Snowe (R-Me), referred to Judiciary Committee, 459
– – S 566, Financial Product Safety Commission Act, introduced by Durbin (D-Ill), Geithner to consider bill as part of broader reform, 969; Geithner does not reveal opinions on creation of commission, 959
– – S 605, Uptick rule, mandate for SEC reinstatement, Kafuman (D-Del) introduces, 497
– – S 664, Financial System Stabilization and Reform Act, Collins (R-Me) introduces, bill referred to Banking Comm., 552; PCAOB official says momentum for Fed as systemic risk regulator is slowing, 866; Bair supports college of regulators approach to Banking Comm., 872; insurance and resolution of “Too Big to Fail” entities debated in Banking Comm., 875; AEI Shadow Group endorses monitoring and coordination approach for systemic risk regulator, 876; group advocates for state/federal council to manage systemic risk, 984
– – S 896, Helping Families Save Their Homes Act, Obama signs, 958
– – S 906, Senior Investor Protection Act, Kohl (D-Wis) reintroduces bill that targets fraudulent “senior” specialists, 867
– – S 931, Arbitration Fairness Act, supported by NASAA, 985; Obama plan requests studies, Special Report, 1213
– – S 961, Authorizing Regulation of Swaps Act, Levin (D-Mich) and Collins (R-Me) introduce, 852; FINRA CEO frustrated by regulatory gap, 853
– – S 1006, Excessive Pay Shareholder Approval Act, Durbin (D-Ill) introduces, 903
– – S 1073, Rating Accountability and Transparency Enhancement Act, Reed (D-RI) introduces, 961; ratings agencies questioned in panel hearing, 961
– – S 1074, Shareholder Bill of Rights, Schumer (D-NY) and Cantwell (D-Wash) introduce, 962
– – S 1225, Energy Market Manipulation Prevention Act, Sanders (I-Vt) introduces, 1176
– – S 1276, Private Fund Transparency Act, introduced by Reed (D-RI), adviser registration for private investment pools, 1152; Analysis and Perspective, 1316; SEC senior official testifies re registration and transparency, 1348
– – S 1399, Carbon Market Oversight Act, Feinstein (D-Cal) and Snowe (R-Me) introduce, 1331
– – S 1504, Notice Pleading Restoration Act, Specter (D-Pa) introduces, 1438
– – S 1551, Liability for Aiding and Abetting Securities Violations Act, Specter (D-Pa) introduces, 1479; law professor advises Judiciary Committee to limit bill, 1725
– – S 1592, Federal Board of Certification Act, standards and certification for mortgage-backed securities, Snowe (R-Me) and Cardin (D-Md) introduce, referred to Banking Committee, 1518
– – S 1661, Senior Investor Protection Act, introduced by Kohl (D-Wisc), Casey (D-Pa), and Gillibrand (D-NY), 1682
– – S 1682, Derivatives Market Manipulation Prevention Act, Cantwell (D-WA) introduces, 1750
– – S 1691, Comprehensive Derivatives Regulation Act, Reed (D-RI) introduces, 1801
– – S 2010, Budget for SEC and CFTC, Appropriations Committee votes to fund with increases over Obama request, 1295

LICENSING

See REGISTRATION AND LICENSING

LIMITATIONS PERIODS

See STATUTES OF LIMITATIONS

LIMITED LIABILITY COMPANIES

– Biotechnology company with deadlocked board and no funding dissolved (Del. Ch.), 177
– Del., drafting and definitions are key to litigation, panelists tell conferees, 1902

LOANS

– Class actions, financial sector was largest target for filings in 2008, study finds, 665
– Consumer protection agency, Dodd (D-Conn) proposes as part of regulatory restructuring, 1097; further developments, see LEGISLATION, FEDERAL, HR 3126
– Debenture offering, asset freeze agreed to over misrepresentations and misuse of funds (N.D. Tex.), 763
– Depreciation of assets of company offering senior notes, class fraud claims dismissed for failures of pleading and standing (2d Cir.), 1037
– High-yield debt offerings, attorney and others charged with fraud (C.D. Cal.), 815
– Indenture agreement, late filing of 10-K is not default or breach (5th Cir.), 750
– Loan loss accounting

See BANKING

– Mortgages

See REAL ESTATE

– Ponzi scheme, fraudster pleads guilty (C.D. Cal.), 617; sentencing, 1492
– Public offerings of debentures and promissory notes, alleged misappropriation of funds by CEO (C.D. Cal.), 772
– Reporting requirements, enhanced footnotes on loan losses to be required by FASB, 789
– Retention of risk, Obama administration issues proposals for securitized loans, 1137
– Sham transactions, claims alleging JPMorgan complicity in Enron fraud fails to plead scienter (2d Cir.), 114
– Student loan-backed securities, fraud allegations fail to state claim (D. Mass.), 1577

LUXEMBOURG

– Madoff fraud, UBS censured over feeder fund, 352