Media Coverage
29 April 2013
|
|
Media Coverage
12 September 2012
|
The National Law Journal
The article references the Consumer Financial Protection Bureau survey conducted by Mayer Brown to gauge industry concerns and measure expectations about the impact of the bureau. The article notes that 12% of survey respondents reported that their companies had been contacted or subpoenaed by the CFPB in relation to an examination or investigation. The survey was co-written by Financial Services Regulatory & Enforcement partner Jeff Taft and Litigation & Dispute Resolution partner Rich Rosenfeld (both Washington, DC). |
Legal Update
6 August 2012
|
Mayer Brown Legal Update
The failure to allege economic loss and loss causation—essential elements of a securities fraud claim—should be fatal to a Rule 10b-5 complaint. In Rosado v. China North East Petroleum Holdings Ltd., et al., the US District Court for the Southern District of New York dismissed a putative class action on the ground that the complaint failed to adequately allege an actual economic loss as a matter of law where the company’s stock price rebounded shortly after the alleged fraud.
|
Media Coverage
24 July 2012
|
Compliance Week (subscription required)
Financial Services Regulatory & Enforcement partner Jeff Taft (Washington, DC) quoted extensively in article evaluating the success of the US Consumer Financial Protection Bureau in its first year. The article references the CFPB survey conducted by Mayer Brown to gauge industry concerns and measure expectations about the impact of the bureau. The survey was co-written by Litigation & Dispute Resolution partner Rich Rosenfeld (Washington, DC). |
Media Coverage
23 July 2012
|
CreditCards.com
Article evaluating the success of the US Consumer Financial Protection Bureau in its first year references the CFPB survey conducted by Mayer Brown to gauge industry concerns and measure expectations about the impact of the bureau. The survey was co-written by Financial Services Regulatory & Enforcement partner Jeff Taft, who is quoted in the article, and Litigation & Dispute Resolution partner Rich Rosenfeld (both Washington, DC). |
Media Coverage
19 July 2012
|
Bloomberg Businessweek
Article evaluating the success of the US Consumer Financial Protection Bureau in its first year references the CFPB survey conducted by Mayer Brown to gauge industry concerns and measure expectations about the impact of the bureau. The survey was co-written by Financial Services Regulatory & Enforcement partner Jeff Taft and Litigation & Dispute Resolution partner Rich Rosenfeld (both Washington, DC). |
Media Coverage
16 July 2012
|
Corporate Counsel
Article details the findings from a Consumer Financial Protection Bureau survey conducted by Mayer Brown to gauge industry concerns and measure expectations about the impact of the bureau. The survey was co-written by Financial Services Regulatory & Enforcement partner Jeff Taft and Litigation & Dispute Resolution partner Rich Rosenfeld (both Washington, DC). |
Media Coverage
12 July 2012
|
The Blog of Legal Times
Article details the findings from a Consumer Financial Protection Bureau survey conducted by Mayer Brown to gauge industry concerns and measure expectations about the impact of the bureau. The survey was co-written by Financial Services Regulatory & Enforcement partner Jeff Taft and Litigation & Dispute Resolution partner Rich Rosenfeld (both Washington, DC). |
Media Coverage
6 July 2012
|
Law360
Financial Services Regulatory & Enforcement partner Jeff Taft (Washington, DC) quoted in a Law360 article focusing on a Consumer Financial Protection Bureau survey conducted by Mayer Brown to gauge industry concerns and measure expectations about the impact of the bureau. In addition to Jeff Taft, the survey was co-written by Litigation & Dispute Resolution partner Rich Rosenfeld (Washington, DC). |
|
|
The Consumer Financial Protection Bureau (CFPB) was created by the Dodd-Frank Act with a mandate to protect consumers through the supervision and regulation of depository institutions and other providers of consumer financial products and services. Since its beginnings in July 2011, the agency has rapidly grown to a staff of more than 750 and an annual budget of well over $300 million. Despite this rapid ramp-up, the CFPB has not yet taken any public enforcement actions, and has left the financial community wondering what to expect. |
Media Coverage
10 May 2012
|
Law360
Bylined article by Securities Litigation & Enforcement partners Joseph De Simone and Richard Rosenfeld and associates Christopher Provenzano, Domenic Cervoni and Lisa Miller discusses the US Court of Appeals for the Second Circuit’s clarification of the standard for the “domestic transactions” prong of Morrison v. National Australia Bank Ltd.
|
Legal Update
23 April 2012
|
Mayer Brown Legal Update
The Second Circuit Court of Appeals has issued an opinion that addresses the ambiguity created by Morrison’s off-market transactions prong, announcing a standard for “domestic transactions” that combines tests proposed by both the Eleventh Circuit and the Southern District of New York.
|
Legal Update
8 March 2012
|
Mayer Brown Legal Update
In the last few years, plaintiffs in securities actions have increasingly relied on allegations attributed to “confidential witnesses.” Plaintiffs are especially likely to use statements by these witnesses—often alleged to be former employees or officers—to satisfy the tough scienter pleading requirement of a Section 10(b) claim under the Securities Exchange Act of 1934.
|
Legal Update
8 February 2012
|
Mayer Brown Legal Update
The US Supreme Court’s 2010 decision in Morrison v. NAB created a sea change in private securities litigation by sharply limiting the extraterritorial application of the securities laws while employing language suggesting skepticism of extraterritoriality more generally. Since then, the lower federal courts have been reevaluating the extraterritorial applicability of other statutory causes of action, including Racketeer Influenced and Corrupt Organization (RICO) cases.1 The Second Circuit’s recent decision in Eligio Cedeño v. Castillo, 10-3861-cv (2d Cir. Jan. 24, 2012) (Summary Order), continues the post-Morrison trend of limiting the extraterritorial reach of statutes creating private rights of action.
|
Legal Update
10 January 2012
|
Mayer Brown Legal Update
On January 6, 2012, the US Securities and Exchange Commission (SEC or Commission) announced a modification to its long-standing policy of allowing corporations that settle civil actions with the SEC to enter into agreements in which they neither admit nor deny any wrongdoing. The change would apply to cases with parallel criminal proceedings where the corporation admits to, or is actually convicted of, a criminal offense relating to the same conduct.
|
Legal Update
21 December 2011
|
Mayer Brown Legal Update
On November 30, 2011, Judge John A. Kronstadt of the US District Court for the Central District of California dismissed a putative class action brought by shareholders of China Century Dragon Media based on the inconsistencies between revenue and profit figures reported to the US Securities and Exchange Commission (SEC) and the Chinese State Administration for Industry and Commerce (SAIC). Katz v. China Century Dragon Media, Inc., et al., No. 2:11-cv-02769-JAK-SS (C.D. Cal. Nov. 30, 2011).
|
|
|
Richard M. Rosenfeld, co-lead of Mayer Brown’s Securities Litigation and Enforcement Practice, who spent the last two years as the Chief Investigative Counsel for the Special Inspector General over the TARP bailout, provides his unique personal experience, as a former senior government official, to discuss the risks inherent in this historic regulatory reaction.
|
|
|
Mayer Brown, a leading global law firm, announced today that Richard M. Rosenfeld has joined the partnership to co-lead the US Securities Litigation & Enforcement group working from both the Washington, DC and New York offices.
|