Yesterday the Financial Crisis Inquiry Commission (FCIC or the
Commission), the bipartisan 10- member panel established by
Congress to examine the causes of the financial crisis and the
events surrounding the September 2008 financial market meltdown,
announced the dates for its first public hearing, to take place at
9:00 a.m. on Wednesday, January 13 and Thursday, January 14, 2010
in Room 1100 of the Longworth House Office Building, in Washington,
D.C....
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Multilateral development banks spend $70bn each year on loans and grants to the developing world. In April 2010, for example, the World Bank approved a $3.75bn loan to South Africa-based Eskom Holdings, to build one of the world’s largest and most complex power plants.
On August 30, the Commodity Futures Trading Commission (CFTC) announced the issuance of its longanticipated final rules for off-exchange foreign currency transactions (forex) with retail customers.
Although credit rating organizations (CROs) are not currently subject to formal securities regulatory oversight in Canada, they nonetheless play an important role in Canadian securities legislation.
The FDIC is currently responding to one of the worst financial crises in the history of the nation’s banking system. Sheila Bair, Chairman of the FDIC, expects that 2010 "will be the high water mark for the banking crisis."
On August 25, 2010, the U.S. Securities and Exchange Commission ("SEC" or "Commission"), by a 3-2 vote, adopted final rules (the "Adopting Release") on facilitating shareholder director nominations through issuer proxy statements, culminating years of consideration of this issue.
In M&A transactions, many lawyers (and clients) assume that employee benefits issues are tangential to the overall business deal and will "work themselves out" after the deal closes.
Many West European and US companies have thinned out their ranks of middle management in the never-ending pursuit of shareholder value. A China project is likely to be more time intensive and involved (and therefore expensive) than the foreign company initially forecasts. For this reason many foreign investors in China face difficulties in assembling a successful business project team to implement the project. Part I discusses the assembling of an effective in-house team.
On May 26, 2010, the Securities and Exchange Commission (the "SEC") approved amendments to Rule 15c2- 12 that will expand the continuing disclosure obligations of issuers and other obligated persons in municipal finance transactions.
