Goodwin Procter has one of the largest financial services practices in the United States. We publish the weekly Financial Services Alert to inform our clients and other financial services institutions about news of importance to the industry. Some issues of the Alert summarize significant recent developments in financial services law and regulation. Other issues provide more in-depth analysis about specific areas of financial services law. We hope you find the Financial Services Alert helpful, and we welcome your suggestions for future topics of interest.

Financial Services Alert - October 7, 2008 (PDF)
10.07.08

• FASB Staff and SEC Propose Clarifications on Fair Value Determinations in Inactive Markets
• IRS Issues Notice to Assist Banks Following an Ownership Change
• FRB to Pay Interest on Depository Institutions’ Required and Excess Reserves; FRB Issues Interim Final Rule Amending Regulation D
• Federal Banking Agencies Propose Rule that Would Permit Banking Organizations to Deduct Goodwill Net of Associated Deferred Tax Liabilities from Regulatory Capital
• FDIC Deposit Insurance Coverage Increased Temporarily
• Delaware Chancery Court Issues Opinion Concerning the Application in M&A Context of MAE Condition and Covenants to Use Reasonable Best Efforts
• Treasury Issues Notices Soliciting Financial Agents to Provide Infrastructure, Securities Asset Management and Whole Loan Asset Management Services for Troubled Assets Relief Program

Financial Services Alert - Special Edition - October 3, 2008 (PDF)
10.03.08

• Congress Passes and President Signs Into Law Emergency Economic Stabilization Act of 2008

SEC Extends Emergency Short Sale Orders and Announces Intentions for Interim Final Rules (PDF)
10.02.08

• SEC Extends Emergency Short Sale Orders and Announces Intentions for Interim Final Rules