A federal court jury in Manhattan returned verdicts on Monday, November 12, largely exonerating the two most senior Reserve Management Company executives in a Securities and Exchange Commission enforcement action accusing them of fraud.
USA, Capital Markets, Insolvency & Restructuring, Litigation, White Collar Crime, Orrick, Herrington & Sutcliffe LLP, Fraud, Negligence, Net asset value, US Securities and Exchange Commission, Lehman Brothers
On May 11, the Board of Directors of the FDIC approved a Notice of Proposed Rulemaking (the “NPR”) proposing a rule which would govern the treatment by the FDIC, as conservator or receiver of a failed insured depository institution (a “Bank”), of financial assets previously transferred by such Bank in a securitization or participation transaction. The proposed rule would create a safe harbor to confirm legal isolation of these financial assets if certain conditions are satisfied.
USA, Banking, Insolvency & Restructuring, Securitization & Structured Finance, Orrick, Herrington & Sutcliffe LLP, Collateral (finance), Safe harbor (law), Board of directors, Interest, Accounting, Depository institution, Secured creditor, Federal Deposit Insurance Corporation (USA), FSAB, Credit rating agency, GAAP