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U.S. Federal Agencies Issue Proposed Rule To Exempt Subset Of Higher-Priced Mortgage Loans From Appraisal Requirements

Date 10/07/2013

Six federal financial regulatory agencies today issued a proposed rule that would create exemptions from certain appraisal requirements for a subset of higher-priced mortgage loans. The proposed exemptions are intended to save borrowers time and money and to promote the safety and soundness of creditors. The appraisal requirements for higher-priced mortgages were imposed by the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). Under the Dodd-Frank Act, mortgage loans are considered to be higher-priced if they are secured by a consumer's home and have interest rates above a certain threshold.
SEC: Opening Remarks Regarding The Adoption Of Rules Eliminating The Prohibition Against General Solicitation, The Adoption Of Rules Regarding Disqualification Of “Bad Actors” From Rule 506 Offerings And The Proposal Of Amendments To Regulation D, Form D And Rule 156

Date 10/07/2013

I too would like to thank the staff who worked tirelessly on these releases. Thanks especially to the staff of the Division of Corporation Finance for your thoughtful consideration of our comments and questions.
Canadian Securities Regulators Release Three-Year Business Plan

Date 10/07/2013

The Canadian Securities Administrators (CSA) yesterday released its Three-Year Business Plan for the period April 1, 2013 through to March 31, 2016.
Facilitating General Solicitation At The Expense Of Investors By SEC Commissioner Luis A. Aguilar

Date 10/07/2013

Today, among other things, the Commission considers amendments to Rule 506 of Regulation D, to remove the prohibition against general solicitation and advertising, if sales are made only to accredited investors. I do not support this action because both the process followed in proposing the amendments and the actual amendments being considered today come at the expense of investors and place investors at greater risk. I am particularly disappointed because this flies in the face of the Commission’s mission and did not have to be the case.
ISDA Credit Derivatives Determinations Committee: Cengage Learning Acquisitions Bankruptcy Credit Event

Date 10/07/2013

The International Swaps and Derivatives Association, Inc. (ISDA) today announced that its Americas Credit Derivatives Determinations Committee resolved that a Bankruptcy Credit Event occurred in respect of Cengage Learning Acquisitions, Inc.

Limiting — But Not Eliminating — Bad Actors From Certain Offerings By SEC Commissioner Luis A. Aguilar

Date 10/07/2013

Today, after too lengthy a delay, the Commission implements the Dodd-Frank mandate to disqualify felons and certain other bad actors from participating in unregistered offerings under Rule 506 of Regulation D. Limiting felons and bad actors from participating in Rule 506 offerings is simply the right thing to do, and I support the amendments to Rule 506.
Hellenic Exchanges S.A.: Notification About A Significant Change In Voting Rights (Law 3556/2007)

Date 10/07/2013

The HELLENIC FINANCIAL STABILITY FUND (HFSF) informed the Company in writing on 09.07.2013 that, because of a triggering transaction on 03.07.2013 it indirectly holds, through companies controlled by it, 5.90% of the share capital of HELEX (from 3.40% before the transaction).
Statement At The SEC Open Meeting By SEC Chairman Mary Jo White

Date 10/07/2013

Good morning. This is an open meeting of the Securities and Exchange Commission on July 10, 2013, under the Government in the Sunshine Act.
Minutes Of The Federal Open Market Committee, June 18-19, 2013

Date 10/07/2013

The Federal Reserve Board and the Federal Open Market Committee on Wednesday released the attached minutes of the Committee meeting held on June 18-19, 2013. A summary of economic projections made by Federal Reserve Board members and Reserve Bank presidents for the meeting is also included as an addendum to these minutes.
Statement At Open Meeting By SEC Commissioner Luis A. Aguilar

Date 10/07/2013

Today the Commission votes on a proposal (the “Proposing Release”) that contains a number of changes which would help protect investors and provide the Commission with information it needs to advance its regulatory, oversight, and enforcement functions.