Rimon

ICANN Approves Open Season on new gTLDs for 2013

insights June 23, 2011

On June 20, 2011, the Internet Corporation for Assigned Names and Numbers (ICANN) approved a new generic top-level domain (gTLD) program, first introduced in 2008.  The program will greatly increase the number of gTLDs allowed for use on the internet, which is currently limited to 22 (such as .com, .org, and .net). It allows new…

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Dodd-Frank 30 Day Countdown: Day 23

insights Dodd-Frank 30 Day Countdown: Day 23 Robin Powers · June 23, 2011

SEC Provides Guidance and Temporary Relief Regarding Security-Based Swap Provisions of Dodd-Frank Act The SEC today issued guidance as to whichTitle VII requirements will apply to security-based swap transactions when Dodd-Frank goes into effect.   It also granted temporary relief to market participants from compliance with most of the new Exchange Act requirements that would otherwise…

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Interpreting the Startup Visa Act

insights June 22, 2011

On March 14, 2011, Senators John Kerry and Richard Lugar introduced a bill titled the Startup Visa Act of 2011, which is an updated version of a 2010 bill.  If passed, the act would provide temporary work visas to various kinds of foreign workers if certain financial benchmarks are met. 1.       For foreign entrepreneurs: (a) a…

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Dodd-Frank 30 Day Countdown: Day 24

insights Dodd-Frank 30 Day Countdown: Day 24 Robin Powers · June 22, 2011

The Status of Regulation in the European Union With Dodd-Frank taking effect in less than a month, officials on both sides of the Atlantic have been pressuring one another to implement stricter financial regulations, while equivocating on the regulations that they are willing to accept at home.  Michel Barnier, European Commissioner for Internal Market and…

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Dodd-Frank 30 Day Countdown: Day 25

insights Dodd-Frank 30 Day Countdown: Day 25 Robin Powers · June 21, 2011

Testimony by Mary Schapiro on Financial Regulatory Reform: The International Context In testimony before the House Financial Services Committee, SEC Chair Mary Schapiro noted that the US regulators have consulted, and will continue to consult with, international securities regulators that are considering OTC derivatives market reforms.  Schapiro explained that because the OTC derivative marketplace already…

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NAD Teaches TransFair USA to fine tune Fair Trade Seals & Asks Avon to Amend Advertising

insights June 20, 2011

As discussed in my December 13, 2010 post, the National Advertising Division (NAD) of the Council of Better Business Bureaus (BBBs) offers a streamlined, self-regulatory mechanism for remedying false advertising claims made in nationally distributed advertisements.  While NAD has a 95% success rate, those advertisers who fail to follow NAD’s recommendations may find themselves before the FTC upon NAD’s recommendation. On February 16, 2011,…

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Dodd-Frank 30 Day Countdown: Day 26

insights Dodd-Frank 30 Day Countdown: Day 26 Robin Powers · June 20, 2011

Investment Advisor Registration Deadline Causing Confusion In the Private Fund Investment Advisers Registration Act of 2010, Congress adopted changes to the Investment Advisers Act of 1940 to require many more managers of hedge funds or private equity funds to register as investment advisers. Registered advisers are expected to update their books and records practices in order to…

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Dodd-Frank 30 Day Countdown: Day 27

insights Dodd-Frank 30 Day Countdown: Day 27 Robin Powers · June 19, 2011

SEC to provide guidance on Dodd-Frank requirements and extend temporary rules under the Exchange Act. As previously noted, the Securities Exchange Commission granted itself an extension to finalize the rules mandated by Dodd-Frank.   The Commission announced that it will shortly clarify which provisions of Title VII will automatically go into effect on July 16, alter…

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Dodd Frank 30 Day Countdown: Day 28

insights Dodd Frank 30 Day Countdown: Day 28 Robin Powers · June 18, 2011

FIA and ISDA Publishes Documentation for Cleared Swaps in an effort to add structure to OTC market pending full implementation of Dodd-Frank Act and similar regulation in foreign jurisdictions. In anticipation of the clearing requirements in Dodd-Frank, each of the major clearing houses published proprietary agreements with the intent to best fit OTC swaps clearing…

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Dodd-Frank 30 Day Countdown: Day 29

insights Dodd-Frank 30 Day Countdown: Day 29 Robin Powers · June 17, 2011

Concerns Facing the OTC Derivatives Market in the Absence of a Workable Regulatory Structure The delay of Title VII rulemaking in the Dodd-Frank Act, arguably one of the largest pieces of financial legislation to come out of Congress since the Great Depression, is concerning to those involved in all aspects of the OTC market. On…

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