Jim Hamilton's World of Securities Regulation: Corporate & Securities Law

Home -> Law Blog Directory -> Corporate & Securities Law Blogs

OR PHONE (866) 635-1838 for Bankruptcy Help, (866) 635-6190 for Divorce,
(866) 635-2689 for Personal Injury or (866) 635-9402 for Criminal Defense

Find a Local Lawyer

Bankruptcy (866) 635-1838
Divorce (866) 635-6190
Personal Injury (866) 635-2689
Criminal Defense (866) 635-9402

Corporate & Securities Law

Jim Hamilton's World of Securities Regulation

Opines on every level of securities regulation (federal, state, international, theoretical) covering market players of all types (e.g., accountants, broker-dealers, foreign issuers, hedge funds, market manipulators) who engage all sorts of transactions and activities (acquisitions, financial reporting, private placements, pyramid schemes). Highlights issues of particular importance to securities lawyers and their clients with emphasis on SEC rulemaking, industry trends, and the many curiosities that inhabit this world.
By Jim Hamilton

Post Frequency: 15.3/day

Last Entry: April 01, 2011 at 16:29:00

PCAOB Suspends Audit Firm's Registration

Posted on October 29, 2008
PCAOB Suspends Audit Firm's Registration for Numerous Violations of Board StandardsThe PCAOB has suspended the registration of an audit firm for at least five years for conducting deficient audits replete with numerous violations of auditing standards and violations of Board audit documentation standards...

UK FSA Sets Best Practices for

Posted on October 29, 2008
UK FSA Sets Best Practices for Executive Compensation at Financial FirmsThere is growing concern that inappropriate executive compensation schemes at investment banking and trading firms may have contributed to the present market crisis. Specifically, remuneration structures of firms may have been inconsistent with sound risk management since they frequently gave incentives to pursue risky policies, undermining the impact of systems designed to control risk...

House Leaders Outline Principles

Posted on October 28, 2008
House Leaders Outline Principles for Regulatory OverhaulIn recent House hearings on the future of financial regulation, leaders of the Financial Services Committee set forth principles for the complete overhaul of the regulatory regime. Rep. Paul Kanjorski, a senior committee member, laid down broad principles to guide reform...

UK Amends Audit Committee Guidance;

Posted on October 28, 2008
UK Amends Audit Committee Guidance; Factors for Using Multiple Audit Networks Set OutThe UK Guidance for Audit Committees (Smith Guidance) has been amended with a mixture of changes to best practices and additional disclosures to be made in the annual report...

To access this complete feed in the blog feed reader login or register for free.

Fed Gov Kroszner Says Survival

Posted on October 28, 2008
Fed Gov Kroszner Says Survival of Financial Institutions Hinges on Strategic Risk ManagementFinancial institutions will not survive the coming radical transformation in financial services unless they implement a strategic risk management framework, in the view of Federal Reserve Board Governor Randall S...

FSA CEO Examines Hedge Fund Valuations

Posted on October 27, 2008
FSA CEO Examines Hedge Fund Valuations and TransparencyWhile noting that hedge funds were not the catalyst of the market crisis, UK Financial Services CEO Hector Sants said that reform of hedge fund valuations and transparency will be needed to restore investor confidence...

FASB and IASB Propose Joint Enhancements

Posted on October 27, 2008
FASB and IASB Propose Joint Enhancements to Presentation of Financial StatementsCulminating four years of joint effort, the IASB and FASB have proposed enhancing the presentation of financial statements based on the twin principles of cohesiveness and disaggregation...

IAASB Issues Practice Alert for

Posted on October 27, 2008
IAASB Issues Practice Alert for Auditors on Fair Value AccountingAs the debate over fair value accounting rages, and the FASB and IASB have moved to ameliorate fair value accounting standards, the International Auditing and Assurance Standards Board has issued a practice alert to assist auditors of financial statements in this time of market uncertainty...

The Future of Securities Regulation

Posted on October 26, 2008
The Future of Securities Regulation Must Be an Omnibus CodeJust as Generals are always said to fight the last war, regulators are always regulating reactively. The Generals in 1914 before WW I did not foresee that the machine gun would dominate the battlefield; and they had to adjust their strategy and tactics...

IRS Notice 2008-100 Applies IRC

Posted on October 26, 2008
IRS Notice 2008-100 Applies IRC 382 to Loss Corporations Whose Instruments are Acquired under Capital Purchase Program of Emergency Economic Stabilization ActThe IRS has issued Notice 2008-100 apply IRC �382 to loss corporations whose instruments are acquired under the Capital Purchase Program of the Emergency Economic Stabilization Act...

Grassley Asks for Strict Interpretation

Posted on October 24, 2008
Grassley Asks for Strict Interpretation of Executive Travel Expenses under IRC 162Fearing that the executive compensation provisions of the Emergency Economic Stabilization Act are becoming window dressing rather than a legitimate attempt to prevent excessive compensation for failed leadership, Senator Charles Grassley has asked that additional restrictions be imposed on the ability of companies to deduct travel expenses under Section 162 of the Internal Revenue Code...

New Jersey Adopts BD, Agent, IA

Posted on October 24, 2008
New Jersey Adopts BD, Agent, IA and IA Rep. ChangesChanges clarifying application and post-registration requirements, increasing fees and adding dishonest, unethical practice provisions for broker-dealers, agents, issuer-agents, investment advisers and investment adviser representatives were adopted by the New Jersey Securities Bureau...

Appeals Court Curtails Extraterritorial

Posted on October 24, 2008
Appeals Court Curtails Extraterritorial Application of Federal Securities LawsA Second Circuit panel has ruled that the US federal securities laws did not apply to foreign investors alleging fraudulent statements by a foreign issuer when the conduct in the US was merely preparatory to the fraud and the acts directly causing loss to investors occurred in a foreign country...

In Light of Market Turmoil, Nasdaq

Posted on October 23, 2008
In Light of Market Turmoil, Nasdaq Would Suspend Closing Bid Deficiency TestNoting that the market turmoil has resulted in a number of securities trading below $1, Nasdaq proposes to suspend the bid price and market value of publicly held shares requirements through January 16, 2009...

UK and Australia Extend Bans on

Posted on October 23, 2008
UK and Australia Extend Bans on Short SellingAfter a review of its emergency short selling ban, the UK Financial Services Authority decided to keep the ban in place until January 16, 2009, with one change. The FSA prohibits the active creation or increase of net short positions in publicly quoted financial companies...

Senior Senator Questions SEC's

Posted on October 23, 2008
Senior Senator Questions SEC's Conduct in Bear Stearns RescueIn a letter to SEC Chair Christopher Cox, Senator Charles Grassley said that he was deeply troubled by allegations that senior SEC enforcement officials may have inappropriately disclosed information about ongoing investigations to outside parties during the Bear Stearns rescue efforts...

Former SEC Chair Levitt Calls for

Posted on October 22, 2008
Former SEC Chair Levitt Calls for Merging the SEC and CFTCIn a piece in today?s Wall Street Journal, former SEC Chair Arthur Levitt called for the merger of the SEC and CFTC into the Securities Futures Commission with enhanced authority over hedge funds, OTC products and rating agencies...

Listed Companies Concerned about

Posted on October 22, 2008
Listed Companies Concerned about Short Selling Abuses Urge SEC to Reinstate Uptick RuleOn the heels of the expiration of the SEC?s emergency order banning short selling in hundreds of financial companies, the listed company community favors the implementation of new rules and enhanced disclosure...

European Investors Consortium Says

Posted on October 21, 2008
European Investors Consortium Says No More Carve Outs on Fair Value AccountingReacting to relief in fair value accounting granted by the IASB and FASB, a consortium of European investor groups said that any further changes in the fair value standard could severely undermine the confidence that users have in the company financial statements...

Federal Reserve Board Staff Reviews

Posted on October 21, 2008
Federal Reserve Board Staff Reviews Data on Foreign Private Issuer Deregistration under SEC Rule 12h-6It has been almost a year and a half since the Securities and Exchange Commission adopted Release No. 34-55540 in which the SEC made it easier for foreign private issuers (FPIs) to deregister and thus terminate their U...

Former SEC Chair Levitt Calls for

Posted on October 19, 2008
Former SEC Chair Levitt Calls for Expanded Fair Value Accounting as Part of Overall ReformAnticipating massive regulatory reform of financial market oversight, former SEC Chair Arthur Levitt called for the expansion of fair-value accounting to cover all of the financial instruments, the securities positions and loan commitments, of all financial institutions...

SEC Urged to Overrule FASB Fair

Posted on October 19, 2008
SEC Urged to Overrule FASB Fair Value Accounting InterpretationThe American Bankers Association has asked the SEC to override recent FASB guidance on fair value accounting, FAS 157-3, and replace it with guidance clarifying that fair value in an illiquid market does not include forced or distressed sales...

Congress Heeds SEC's Call for Regulation

Posted on October 18, 2008
Congress Heeds SEC's Call for Regulation of Credit Default SwapsIn the wake of a call by SEC Chair Christopher Cox for the regulation of credit default swaps, Senator Tom Harkin will introduce legislation regulating swaps and other financial derivatives that are currently traded with virtually no regulation or transparency...

UK Legislation Would Set Up Special

Posted on October 17, 2008
UK Legislation Would Set Up Special Resolution Regime for Failing Financial Institutions; FSA Has Central RoleA bill overhauling UK regulation of financial institutions may offer a preview of what US reform legislation may look like. The UK reform bill would, for the first time, establish a permanent special resolution regime, providing the Financial Services Authority with tools to deal with institutions that get into financial difficulties...

SEC Requires Disclosure of Hedge

Posted on October 16, 2008
SEC Requires Disclosure of Hedge Fund and Other Institutional Investors Short Positions into 2009On an emergency basis, the SEC adopted a new disclosure rule requiring hedge funds and other large investors to disclose their short positions. Prepared by the staffs of the Divisions of Investment Management and Corporation Finance, the new rule was designed to ensure transparency in short selling...

Kentucky Proposes Prohibition on

Posted on October 16, 2008
Kentucky Proposes Prohibition on Use of Senior Certifications, Prohibited Practices for BDs and IAs and Requirement for BDs and IAs to Approve a Change in ControlA rule prohibiting broker-dealers, agents, investment advisers and investment adviser representatives from using professional designations and certifications that imply specialized knowledge of senior citizens' financial needs was proposed by the Kentucky Department of Financial Institutions, along with separate rules listing the dishonest, unethical practices for these securities industry persons...

Corporate Finance in Crisis Mode:

Posted on October 16, 2008
Corporate Finance in Crisis Mode: How the Federal Reserve is Providing Funding to Financial FirmsIn the last several weeks the economic crisis that has frozen the credit markets has spurred significant government action in the form of the Emergency Economic Stabilization Act of 2008 (EESA), which has greatly enhanced the powers of both the Federal Reserve Board (FRB) and the Treasury Department...

Hedge Fund Industry Concerned About

Posted on October 16, 2008
Hedge Fund Industry Concerned About UK Prime Brokerage in Wake of Investment Bank CollapseIn the wake of the collapse of a major international investment bank, the Managed Funds Association expressed concern about the ongoing viability of the UK?s prime brokerage industry...

Bailout Bill Curtails 162(m) Executive

Posted on October 15, 2008
Bailout Bill Curtails 162(m) Executive Compensation Deductibility for Troubled EntitiesThe changes to IRC 162(m) worked by the Emergency Economic Stabilization Act curtail the deductibility of executive compensation for entities participating in the troubled asset purchase program, using SEC criteria, with one notable exception...

Code of Principles Adopted for

Posted on October 15, 2008
Code of Principles Adopted for Sovereign Wealth FundsAn international working group has adopted a voluntary set of principles for sovereign wealth funds that embody sound governance, transparency, and risk management. The principles, called globally accepted principles and practices (GAPP) for sovereign wealth funds were praised by a US Treasury official who said that they will promote a better understanding of the institutional and operational practices of the funds...

Previous | Next

Related Law Bulletins

When Government Inversely Condemns Property by Regulation, Magnitude of State Interest Has No Bearing Upon Just Compensation
The New Jersey Supreme Court recently decided a case in which a p...

World-renowned Dermatologist Warns Public of Botox Dangers
Beverly Hills, CA: Dr. Arnold Klein, a world-renowned dermatologis...