Morrison & Foerster

International top 30 position: 30
International 50 position (Asia-Pacific): 14

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  • MMF executives sue independent trustees for fraud and waste of corporate assets weblink

    Briefings | 23 January 2013

    In a bizarre twist to the case of the money market fund that broke the buck, the investment adviser to the Reserve Primary Fund and its principals sued the fund’s independent trustees, laying the blame for the fund’s spectacular 2008 collapse squarely at their feet.

  • Insider trading annual review — 2012 weblink

    Briefings | 17 January 2013

    2012 gave us another year of aggressive enforcement of insider trading laws.

  • FINRA provides early guidance about Its exam priorities weblink

    Briefings | 15 January 2013

    In its annual summary of regulatory and examination priorities, the Financial Industry Regulatory Authority (FINRA) signaled that it will aggressively pursue market misconduct.

  • Dodd-Frank implementation: navigating the road ahead weblink

    Briefings | 7 January 2013

    Almost two-and-a-half years after the enactment of the Dodd-Frank Act, the various federal agencies charged with implementation have made measurable progress and have, in the last several months, taken on the major regulatory actions in earnest.

  • Policy makers turn attention towards possible systemic banking risk weblink

    Briefings | 27 December 2012

    For the last four years, regulators and law makers have been focusing extraordinary efforts on ensuring that financial regulation is adequate to protect the financial system from risks emanating from the banking sector.

  • Bright outlook for covered bonds weblink

    Briefings | 26 December 2012

    This year has proven to be an interesting one for the covered bond market, and we anticipate that 2013 will bring many important new developments.

  • SAFE and foreign exchange rules weblink

    Briefings | 21 December 2012

    Is the State Administration of Foreign Exchange finally loosening its grip on foreign exchange transactions? Not exactly.

  • Cross-border resolutions: FDIC and Bank of England release white paper weblink

    Briefings | 17 December 2012

    On 10 December 2012, the Federal Deposit Insurance Corporation and the Bank of England released a white paper, describing how each would resolve a materially distressed or failing financial institution that is globally active and systemically important in order to maintain its ongoing and viable operations.

  • The Federal Reserve board proposes Dodd-Frank systemic prudential regulations for foreign banks weblink

    Briefings | 16 December 2012

    Late Friday afternoon the Federal Reserve Board proposed regulations to implement the enhanced prudential regulation and early remediation requirements of the Dodd-Frank Act for systemically important and other foreign banks.

  • Money market funds: FSOC proposes reforms weblink

    Briefings | 13 November 2012

    This afternoon, 13 November 2012, the Financial Stability Oversight Council, faced with a Securities and Exchange Commission that has been deadlocked over whether or how to address concerns about money market funds, voted unanimously to propose three MMF reforms.

  • Stress testing and capital planning: Federal Reserve issues guidance for 2013 cycle weblink

    Briefings | 9 November 2012

    Today the Federal Reserve Board issued instructions and guidelines for two 2013 stress testing and capital planning programs, each of which builds on similar programmes from last year.

  • Regulatory capital: 1 January 2013 deadline eased weblink

    Briefings | 9 November 2012

    This morning, the three federal bank regulatory agencies announced that their proposed new capital rules based on Basel III (and other Basel standards) would not take effect on 1 January 2013, a date previously proposed apparently in order to adhere to international consensus.

  • ESMA’s technical standards for EMIR weblink

    Briefings | 9 November 2012

    The European Market Infrastructure Regulation, which came into force on 16 August 2012, created a new framework with the aim of introducing greater transparency and risk management mechanisms to the over the counter derivatives market in Europe.

  • CSRC further opens China’s investment banking market weblink

    Briefings | 25 October 2012

    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.

  • Stress testing: final rules for banking organisations from the federal banking agencies weblink

    Briefings | 9 October 2012

    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.

  • SEC statement on money market fund reforms weblink

    Briefings | 24 August 2012

    On 22 August 2012, SEC Chairman Mary Schapiro announced that three of the five SEC Commissioners, constituting a majority of the Commission, had informed her that they would not support a staff proposal to reform money market funds.

  • The Euro odyssey: an epic journey or a Greek tragedy in the making? weblink

    Briefings | 11 June 2012

    The future of the European single currency stands precariously balanced. While hoping for the best outcome, prudent financial planning requires businesses to at least consider once unthinkable thoughts about the possible withdrawal of one or more member states from the single currency or even its demise altogether.

  • Extraterritoriality: the Volcker Rule weblink

    Briefings | 11 June 2012

    As the US bank regulatory agencies continue their efforts to implement the Volcker Rule under increasing political pressure to stiffen the Rule’s requirements, it is worth revisiting how the Rule, in its current proposed form, might affect non-U.S. banks and their activities even outside the US.

  • The federal banking agencies’ regulatory capital proposals weblink

    Briefings | 28 May 2012

    On 12 June 2012, the federal banking agencies (the Office of the Comptroller of the Currency, the Federal Reserve Board and the Federal Deposit Insurance Corporation) formally proposed for comment, in a series of three separate but related proposals, substantial revisions to the US regulatory capital regimen for banking organisations that, if adopted, will have a significant impact on the US banking industry.