05.27.2011

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Updates

The Office of the Comptroller of the Currency Proposes Rules Transferring Certain Functions from the Office of Thrift Supervision

On Wednesday, May 25, 2011, the Office of the Comptroller .of the Currency (the "OCC") proposed rules implementing Sections 312, 316, 322, 335, and 603 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the "Dodd-Frank Act"). The proposed rules incorporate the transfer to the OCC of certain functions of the Office of Thrift Supervision. The OCC also is proposing amendments to its rules pertaining to change in control of credit card banks and trust banks; deposit-taking by uninsured Federal branches; and its preemption and visitorial powers rules.

Read the OCC press release

Read the OCC proposed rule 

SEC Adopts Rules Establishing a Whistleblower Program

On Wednesday, May 25, 2011, the Securities and Exchange Commission (the "SEC") adopted rules to create a whistle blower program that rewards individuals who provide the agency with high-quality tips that lead to successful enforcement actions. The SEC implemented the rules under Section 992 of the Dodd-Frank Act.

Read the SEC press release

Read the SEC proposed rule

SEC Proposes Rule to Disqualify "Felons and Other Bad Actors" from Securities Offerings

On Wednesday, May 25, 2011, the SEC proposed rules implementing 926 of the Dodd-Frank Act. The proposed rules would deny certain securities offerings from qualifying for exemption from registration if they involve certain “felons and other bad actors.”

Read the SEC press release

Read the SEC proposed rule

© 2011 Perkins Coie LLP
 

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