Top 10 Finance and Banking Headlines from All Regions When Verity (not her real name) retired she had simple dreams of living in the sun, caring for animals and putting something back into society. Reorganization is a tough business when capital is as inaccessible as a frightened turtle. It’s no secret that true Chapter 11 reorganizations are few and far between; the Chapter 11 bankruptcy process is now used frequently as a sales mechanism, through the very powerful "363" sale process. Citing a need to better protect and inform mutual fund investors, the Securities and Exchange Commission ("SEC") proposed on July 21, 2010 to replace Rule 12b-1 under the Investment Company Act with new rules governing asset-based distribution fees and related disclosure in fund prospectuses, annual and semi-annual reports to shareholders and investor confirmation statements. The financial reform bill passed by the Senate on July 15 tightens the definition of "accredited investors" eligible to participate in private placements of securities. Due diligence is a phase of every transaction, from a bank loan to a corporate merger. It is how the parties determine if and how they should proceed. The Financial Industry Regulatory Authority has issued an information notice reminding member firms of changes to BrokerCheck it will implement on August 23 and the steps firms and individuals may take with respect to these changes prior to implementation. The final Advisory from OSFI on accounting and capital matters related to the conversion to International Financial Reporting Standards (IFRS) by Federally Regulated Entities (FREs) was released in March 2010. Once a rabid dog tastes blood, it is only a short matter of time before it bites again.The initial victim of expropriation was the flagship Half Moon Bay Resort, located on what the Travel Magazine consistently lists as one of the top four beaches in the world, developed and owned by US investors for over thirty five years. The Dodd-Frank Wall Street Reform and Consumer Protection Act (the "Dodd-Frank Act") was approved by the House on June 30, 2010, and by the Senate on July 15, 2010. The bill is expected to be signed into law by President Obama. In addition to expanding the regulatory authority of the Securities and Exchange Commission, the Dodd-Frank Wall Street Reform and Consumer Financial Protection Act includes several notable changes to the SEC’s enforcement powers. | 
