June 2013

Mortgage Foreclosure Procedures – New Massachusetts Regulations Effective June 21, 2013

The Division of Banks released final amendments to the state Foreclosure Prevention regulations in early June, which implement Massachusetts General Laws ch. 244 §35B.  The revised regulations become effective June 21, 2013.  Use of the regulatory form …

SEC Issues FAQs on Conflict Mineral Rules

On May 30, 2013, the Division of Corporation Finance at the Securities and Exchange Commission (the "SEC") issued Frequently Asked Questions ("FAQs") on disclosure relating to the use of conflict minerals from the Democratic Republic of the Congo (DRC) or …

SEC Issues Guidance On Social Media Disclosure

In July 2012, Netflix's President, Reed Hastings, announced on his personal Facebook page that Netflix had streamed 1 billion hours of content in June. Netflix is a public company, and the Securities and Exchange Commission ("SEC") subsequently commenced …

May 2013

Tax-Exempt Issuers and Borrowers Need Written Post-Issuance Compliance Policies

ARE YOU A NON-PROFIT OR GOVERNMENTAL ENTITY WITH OUTSTANDING TAX-EXEMPT BONDS? ARE YOU CONSIDERING FINANCING A PROJECT USING TAX-EXEMPT BONDS? IF SO, YOU SHOULD HAVE A WRITTEN "POST-ISSUANCE COMPLIANCE POLICY" IN PLACE.The status of an issuer or borrower a…

April 2013

SEC and CFTC Adopt Identity Theft Red Flag Rules

On April 10, 2013, the Securities and Exchange Commission (the "SEC") and the Commodity Futures Trading Commission (the "CFTC" and together with the SEC, the "Commissions") jointly adopted rules and guidelines that require certain entities subject to th…

Private SWAP Counterparty (“End User”) Requirements to Retain and Obtain A Legal Entity Identifier for Historical Interest Rate Swaps Under Dodd-Frank

The Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”) was signed into law on July 21, 2010. Title VII of Dodd-Frank, known as the “Wall Street Transparency and Accountability Act”, created a series of new regulatory measures …