Morrison & Foerster
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The China Securities Regulatory Commission recently amended the Rules on the Establishment of Foreign-Invested Securities Companies to raise the cap on the permissible foreign stake in securities companies from one-third to 49 per cent.
Earlier today, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation and the Federal Reserve Board approved final rules, which were proposed for comment in January of this year, implementing the Dodd-Frank Act’s company-run stress testing requirements.