• U.K. Financial Services Compensation Scheme.

On January 18th, the U.K.'s Financial Services Authority adopted rules to fund the Financial Services Compensation Scheme, which compensates customers if a regulated financial services firm cannot pay claims made against it. The rules maintain existing funding classes and adopt new annual thresholds. The rules are effective April 1, 2013. The FSA also proposed the establishment of a Retail Pool, a collective resource funded by intermediaries and the investment providers. As proposed, the Retail Pool would require contributions from banks, insurers, and home finance providers, among others. Comments on the proposal should be submitted on or before February 18, 2013. FSA Press Release.

• Regulatory Comparison.

On January 16th, FT Adviser compared the 2012 enforcement activity of U.S. and U.K. regulators. Regulatory Comparison.

• U.K. Guidance on Unsuitable Sales.

On January 16th, the U.K.'s Financial Services Authority provided guidance aimed at assisting firms to avoid selling unsuitable financial products to customers. Retail firms having sales staff or advisers who are compensated by an incentive scheme are subject to the guidance. FSA Press Release.

• European Parliament Confirms Credit Rating Agency Rules.

On January 16th, the European Parliament confirmed new credit rating agency rules. Under the new rules, unsolicited sovereign debt ratings can only be issued on predetermined dates. In addition, the rules permit private investors to sue credit raters for negligence and cap a credit rater's ownership interest in a rated firm. European Parliament Press Release; See also Frequently Asked Questions.

• Bank of England Draft Policy Statement on Capital Requirements Authority.

On January 14th, the interim Financial Policy Committee ("FPC") of the Bank of England published a draft Policy Statement explaining the planned powers for the FPC to set additional capital requirements to ensure financial stability. The proposal includes two areas where additional capital could be required: a countercyclical capital buffer and sectoral capital requirements. Bank of England Press Release.

• Benchmark Rate-Setting Proposals.

On January 11th, The European Securities and Markets Authority and the European Banking Authority published a series of papers related to their joint work on Euribor and proposed principles for benchmark rate-setting processes. The proposed principles provide an immediate step to be taken in advance of potential wider changes in the supervisory and regulatory framework for financial benchmarks. Comments on the proposals should be submitted on or before February 15, 2013. ESMA Notice. Separately, the International Organization of Securities Commissions published a Consultation Report on Financial Benchmarks. Comments on the IOSCO's publications should be submitted on or before February 11, 2013. IOSCO press release.

• The Looming Single European Payment System.

On January 9th, CFO.com discussed the Single European Payment Areas ("SEPA"), which for Euro-area members become effective February 1, 2014. (Non-E.U. member firms do not have to comply until October 31, 2016.) SEPA's goal is to improve the efficiency of cross-border payments and make euro payments uniform across all euro member countries. SEPA.

• ESMA Prospectus Guidance.

On January 9th, the European Securities and Markets Authority published its recommendations to the European Commission on disclosure requirements for convertible or exchangeable debt securities. ESMA notice.

• Appraisals for Higher Priced Mortgage Loans.

On January 18th, six federal financial regulatory agencies issued a final rule that establishes new appraisal requirements for "higher-priced mortgage loans." The rule implements amendments to the Truth in Lending Act made by the Dodd-Frank Act of 2010. For higher-priced mortgage loans, the rule requires creditors to use a licensed or certified appraiser who prepares a written appraisal report based on a physical visit of the interior of the property. The rule exempts several types of loans, such as qualified mortgages; temporary bridge loans and construction loans; loans for new manufactured homes; and loans for mobile homes, trailers and boats that are dwellings. The rule also has exemptions from the second appraisal requirement to facilitate loans in rural areas and other transactions. The rule will be effective January 18, 2014. The agencies intend to publish a supplemental proposal to request additional comment on possible exemptions for "streamlined" refinance programs and small dollar loans, as well as to seek clarification on whether the rule should apply to loans secured by existing manufactured homes and certain other property types. Joint Agency Press Release. Separately, the Consumer Financial Protection Bureau adopted a rule requiring mortgage lenders to provide applicants with free copies of all appraisals and other home-value estimates. CFPB Press Release.

• Federal Reserve Board Triennial Payment Study.

On January 17th, the Federal Reserve Board's Retail Payments Office announced plans to conduct a new study to determine the current volume and composition of electronic and check payments in the United States. This triennial study continues the research conducted in 2001, 2004, 2007, and 2010. The 2013 study will provide additional data on electronic payment methods, cash deposit and withdrawal information and, for the first time, limited third-party fraud information. Federal Reserve Board Press Release.

• TALF No Longer Needed.

The Federal Reserve Board announced on January 15th that it has agreed with the Treasury Department that the credit protection Treasury provided for the Term Asset-Backed Securities Loan Facility ("TALF") is no longer necessary, because the accumulated fees collected through TALF exceed the amount of TALF loans outstanding. Federal Reserve Board Press Release.

• OCC Workshops Announced.

The OCC announced its schedule of workshops for bank directors of national community banks and federal savings associations. The four workshops to be offered by the OCC this year are: "Mastering the Basics: A Director's Challenge;" "Risk Assessment for Directors: Where is the Risk in Your Institution?;" "Compliance Risk: What Directors Need to Know;" and "Credit Risk: A Director's Focus." OCC Press Release.

• CFPB New Mortgage Servicing Rules.

On January 17th, the Consumer Financial Protection Bureau published amendments to Regulation X, which implements the Real Estate Settlement Procedures Act of 1974. The amendments implement provisions of the Dodd-Frank Act regarding mortgage loan servicing. Specifically, the final rule addresses servicers' obligations to correct errors asserted by mortgage loan borrowers; to provide certain information requested by borrowers; and to provide protections to borrowers in connection with force-placed insurance. Additionally, the final rule addresses servicers' obligations to establish reasonable policies and procedures to achieve certain delineated objectives; to provide information about mortgage loss mitigation options to delinquent borrowers; to establish policies and procedures for providing delinquent borrowers with continuity of contact with servicer personnel capable of performing certain functions; and to evaluate borrowers' applications for available loss mitigation options. Further, the final rule modifies and streamlines certain existing servicing-related provisions of Regulation X including mortgage servicer obligations to provide disclosures to borrowers in connection with transfers of mortgage servicing and mortgage servicer obligations to manage escrow accounts. Concurrently with the issuance of this final rule the Bureau issued a rule implementing amendments relating to mortgage servicing to the Truth in Lending Act in Regulation Z. The amendments are effective January 10, 2014. See also CFPB Press Release (with links to summary and fact sheet).

• CFPB Proposed Regulation Z Amendments (Ability to Repay).

On January 16th, the Consumer Financial Protection Bureau requested comment on proposed amendments to Regulation Z, which implements the Truth in Lending Act. The proposed amendments relate to a final rule published on January 10, 2013 that implements sections 1411, 1412, and 1414 of the Dodd-Frank Act, which creates new TILA section 129C. The Dodd-Frank Act requires creditors to make a reasonable, good faith determination of a consumer's ability to repay any consumer credit transaction secured by a dwelling and establishes certain protections from liability under this requirement for "qualified mortgages." The Bureau is proposing certain amendments to the rule implementing these requirements, including exemptions for certain nonprofit creditors and certain homeownership stabilization programs and an additional definition of a qualified mortgage for certain loans made and held in portfolio by small creditors. The Bureau is also seeking feedback on whether additional clarification is needed regarding the inclusion of loan originator compensation in the points and fees calculation. Comments should be submitted on or before February 25, 2013.

• Bank Secrecy Act Advisory Group Nominees Sought.

The Financial Crimes Enforcement Network is seeking nominations from financial institutions and trade groups for its Bank Secrecy Act Advisory Group. Nominations should be made on or before February 15, 2013. FinCEN Notice.

• Designations.

On January 17th, the Treasury Department's Office of Foreign Assets Control announced the designation of the Meza Flores Drug Trafficking Organization, including its leader, Fausto Isidro Meza Flores, several key family members, and three companies. Treasury Department Press Release.

• Lost Security-Holders and Unresponsive Payees.

On January 16th, the SEC adopted amendments to Rule 17Ad-17 to implement the requirements of Section 929W of the Dodd-Frank Act. That Section added subsection (g) to Section 17A of the Securities Exchange Act of 1934, extending the requirements of Rule 17Ad-17, which requires recordkeeping transfer agents to search for lost security-holders, to broker-dealers as well. The new rules also require broker-dealers and other securities market participants to provide notifications to persons who have not processed checks that they have received in connection with their securities holdings. The amendments are effective 60 days after publication in the Federal Register, which is expected during the week of January 21. SEC Release No. 34-68668.

• EDGAR Updates.

On January 14th, the SEC adopted revisions to the Electronic Data Gathering, Analysis, and Retrieval System Filer Manual and related rules to reflect updates to the EDGAR system. The revisions are being made primarily to introduce the new EDGARLink Online submission type IRANNOTICE; and support PDF as an official filing format for submission types 497AD, 40-17G, 40-17G/A, 40-17GCS, 40-17GCS/A, 40-24B2, and 40-24B2/A. The EDGAR system was updated to support this functionality on January 14, 2013. SEC Release No. 33-9382.

• Comment Period Extended for Proposed Swaps Rule.

On January 15th, the SEC extended to February 22, 2013, the period in which comments may be submitted on its proposed capital, margin, and segregation requirements for security-based swap dealers and major security-based swap participants and amended capital requirements for broker-dealers. SEC Release No. 34-68660. See also original proposing release.

• Agenda.

On January 18th, Reuters reported SEC Chairman Elisse Walter says that the cross-border effect of the swaps rules and implementing the JOBS Act's elimination of the general solicitation ban top the Commission's agenda. Agenda.

• Political Intelligence.

On January 18th the Wall Street Journal, using the SEC's investigation of Marwood Group as an example, discussed the role "political intelligence" plays in investment decisions. Political Intelligence.

• Former Prosecutor Considered for Chairmanship.

On January 17th, Bloomberg reported former U.S. Attorney Mary Jo White may be nominated to chair the SEC. Possibilities.

• Conflict Minerals Challenge.

On January 17th Corruption Currents, a Wall Street Journal blog, provided a synopsis of the arguments made by petitioners challenging the SEC's conflict mineral disclosure rules. Conflict Minerals.

• Aggressive Discovery.

Reuters discussed the SEC's new aggressive investigatory tactic: subpoenaing entire hard drives. The Commission's recently completed, custom built forensics lab allows it to analyze, reconstruct, and decrypt data stored on any electronic device; and examination and enforcement personnel are anxious to take advantage of those abilities. Subpoena Power.

• Commissioner Gallagher's Comments.

Commissioner Daniel M. Gallagher addressed the U.S. Chamber Center for Capital Markets Competitiveness on January 16th. After discussing the shortcomings of the Dodd-Frank Act in general, and the Volcker rule in particular, Gallagher stated that SEC staff has completed an economic analysis of possible money market mutual fund reforms. A proposal based on that economic analysis is now being drafted. Gallagher Remarks. See also Bloomberg. Reuters reported Gallagher also said that a majority of the SEC's four current Commissioners do not support the proposal of a rule requiring companies to disclose their political contributions. Politics.

• Assisting Small Companies.

On January 16th, MarketWatch reported the SEC's Advisory Committee on Small and Emerging Companies will encourage the Commission to establish a stock exchange designed specifically for small companies. The Advisory Committee meets on February 1, 2013, to consider that issue as well as the expansion of reporting exemptions for small businesses. Recommendations.

• Municipal Advisor Definition Expected.

On January 16th, Reuters cited the Securities Industry and Financial Markets Association as saying that the SEC will define "municipal advisor" by mid-year. Definition.

• Money Market Mutual Fund Reforms.

On January 15th, the Financial Stability Oversight Council extended to February 15, 2013, the period in which comments may be submitted in response to its proposed money market mutual fund reforms. FSOC Press Release. Reuters summarized comment letters already submitted to the FSOC by Vanguard and the Securities Industry and Financial Markets Association, noting that both organizations said they could support liquidity fees. Liquidity Fees. On January 17th, Reuters summarized Charles Schwab's FSOC comments. Schwab said it could support a floating net asset value for certain prime money market funds used by institutional investors. Institutional Float.

• Swap Data Reporting.

On January 15th, the Depository Trust & Clearing Corporation issued a statement summarizing its objections to the Chicago Mercantile Exchange's proposed Rule 1001, which addresses the reporting of swap data to swap data repositories. Data Wars. On January 17th, the Financial Times discussed the background behind the conflict between DTCC and CME. Background. On January 11th, Reuters discussed the CFTC's attempts to craft reporting rules that do not unwittingly favor either the CME or the DTCC. Neutrality.

• CFTC Issues Portfolio Cross Margining Order.

On January 14th, the CFTC granted Ice Clear Credit's request for an order permitting dually registered futures commission merchants and broker-dealers to: (1) hold credit default swaps and security-based CDS in a cleared swaps customer account subject to Section 4d(f) of the Commodity Exchange Act; and (2) portfolio margin such CDS and security-based CDS held in the cleared swaps customer account. The SEC issued a complementary exemptive order permitting security-based CDS to be held outside a securities account and commingled and portfolio margined with CDS in a cleared swaps customer account. CFTC Press Release.

• Comment Period Extended for Customer Protection Proposal.

On January 11th, the CFTC extended to February 15, 2013, the period in which comments may be submitted in response to the agency's November 14, 2012 proposed customer protection rules. CFTC Press Release.

• Joint Final Rule – Office of the Comptroller of the Currency; Federal Reserve System; Federal Deposit Insurance Corporation

January 1, 2013 – Risk-Based Capital Guidelines: Market Risk. 77 FR 53059.

January 1, 2013 – Community Reinvestment Act Regulations (Technical Amendment) 77 FR 75521.

• Commodity Futures Trading Commission

January 2, 2013 – Adaptation of Regulations to Incorporate Swaps. 77 FR 66288.

February 11, 2013 – Clearing Requirement Determination Under Section 2(h) of the CEA 77 FR 74283.

• Consumer Financial Protection Bureau

January 1, 2013 – Consumer Leasing (Regulation M) 77 FR 68735.

January 1, 2013 – Truth in Lending (Regulation Z) 77 FR 69736.

January 2, 2013 – Defining Larger Participants of the Consumer Debt Collection Market. 77 FR 65775. 77 FR 72913. (Correction)

February 7, 2013 – Electronic Fund Transfers (Regulation E) 77 FR 50243. 77 FR 40459. (Correction) 77 FR 6194.

• Federal Housing Finance Agency

February 11, 2013 – Relocation of Regulations. 78 FR 2319.

• National Credit Union Administration

January 18, 2013 - Treasury Tax and Loan Depositaries; Depositaries and Financial Agents of the Government. 78 FR 4029.

February 19, 2013 - Definition of Troubled Condition. 78 FR 4026.

February 19, 2013 - Designation of Low-Income Status; Acceptance of Secondary Capital Accounts by Low-Income Designated Credit Unions. 78 FR 4030.

February 19, 2013 - Prompt Corrective Action, Requirements for Insurance, and Promulgation of NCUA Rules and Regulations. 78 FR 4032.

• Pension Benefit Guaranty Corporation

January 1, 2013 – Allocation of Assets in Single-Employer Plans; Valuation of Benefits and Assets; Expected Retirement Age. 77 FR 71321.

• Securities and Exchange Commission

January 2, 2013 – Clearing Agency Standards. 77 FR 66220.

• SEC Approves Amendments to FINRA Arbitration Codes.

On January 18th, the Financial Industry Regulatory Authority announced the SEC has approved proposed amendments to FINRA’s Customer and Industry Codes of Arbitration Procedure. The amendments direct arbitrators, in most instances, to issue orders instead of issuing subpoenas, when industry parties seek the appearance of witnesses or the production of documents from non-party firms or their employees or associated persons. The amendments add procedures for non-parties to object to subpoenas and for parties and non-parties to object to arbitrator orders of production. They also standardize procedures under the Codes relating to service of motions for subpoenas and arbitrator orders; service of issued subpoenas and arbitrator orders; and time frames for responding to subpoenas and arbitrator orders, making them operationally consistent. The amendments are effective on February 18, 2013, for all motions filed on or after the effective date that request a subpoena under Rule 12512 or 13512, or an arbitrator order under Rule 12513 or 13513. FINRA Regulatory Notice 13-04.

• Proposed Optional TRACE Services Approved.

On January 16th, the SEC approved the Financial Industry Regulatory Authority’s proposed establishment of optional TRACE data delivery services and related fees. SEC Release No. 34-68675.

• FINRA Launches Small Claims Pilot.

On January 16th, the Financial Industry Regulatory Authority announced the launch of a pilot program offering parties in simplified cases pro bono or reduced-fee telephone mediation. Participation in the pilot program, which began on January 15, is voluntary and open to cases involving claims of $50,000 or less. FINRA Press Release.

• FINRA’s Focus.

On January 14th, the Wall Street Journal discussed the Financial Industry Regulatory Authority’s letter outlining its 2013 priorities. Leveraged loan products and business development companies are among the top issues upon which FINRA will focus. Priorities. See also Reuters (FINRA priorities expand on issues examined in 2012).

• Amendment to Definition of "Public Arbitrator" Proposed.

On January 11th, the SEC provided notice of the Financial Industry Regulatory Authority’s filing of a proposal that would amend the Customer and Industry Codes of Arbitration Procedure to revise the definition of "public arbitrator" to exclude persons associated with a mutual fund or hedge fund from serving as public arbitrators and to require individuals to wait for two years after ending certain affiliations before they may be permitted to serve as public arbitrators. Comments should be submitted within 21 days after publication in the Federal Register, which is expected during the week of January 21. SEC Release No. 34-68632.

• Disapproval Proceedings Instituted for Proposed ETF.

On January 16th, the SEC instituted proceedings to determine whether to approve or disapprove NASDAQ Stock Market’s proposed INAV Pegged Orders for ETFs. Comments should be submitted within 21 days after publication in the Federal Register, which is expected during the week of January 21. Rebuttal comments should be submitted 35 days after publication. SEC Release No. 34-68672.

• SEC Disapproves NASDAQ’s Proposal to Offer Algorithmic Trading.

On January 11th, the SEC disapproved NASDAQ Stock Market’s proposal to offer Benchmark Orders. The Commission expressed concern as to whether the orders generated to achieve the benchmark performance, known as "Child Orders," which would be generated by an algorithm and presumably outside the control and supervision of the broker-dealer firm that entered the initial Benchmark Order, would be subject to adequate pre-trade risk checks, and noted that NASDAQ’s proposal did not indicate how or whether pre-trade controls would be applied to Child Orders generated by the algorithm. SEC Release No. 34-68629. See also Reuters.

• NYSE Regulation Reminds of Gambling Prohibition.

On January 17th, NYSE Regulation reminded members that promoting or participating in certain gambling activities on NYSE premises, including the Trading Floor, is strictly prohibited by the Floor Conduct and Safety Guidelines and Exchange Rules, including but not limited to Rule 476(a)(7). NYSE Regulation Information Memo 13-1.

• Additional Comment Requested on Proposed Synthetic Reverse Convertible Index Fund.

On January 16th, the SEC instituted proceedings to determine whether to approve or disapprove NYSE Arca’s proposal to list and trade shares of the NYSE Arca U.S. Equity Synthetic Reverse Convertible Index Fund under NYSE Arca Equities Rule 5.2(j)(3). The SEC’s order instituting proceedings includes a list of ten questions about which it requests comments. Comments should be submitted within 21 days after publication in the Federal Register, which is expected during the week of January 21. Rebuttal comments should be submitted 35 days after publication. SEC Release No. 34-68671.

• When a Derivative Shareholder Suit Meets Forum non Conveniens.

On January 17th, the Fifth Circuit held the trial court properly dismissed for forum non conveniens, a shareholder derivative lawsuit against BP's officers and directors which stems from the explosion and fire on board the Deepwater Horizon. The Fifth Circuit notes that the usual deference accorded a plaintiff's choice of forum is limited in derivative lawsuits involving forum non conveniens because of the hundreds of potential plaintiffs. Moreover, this is a derivative action involving a British firm's duties. The trial court's conclusion that England has a greater local interest was not, therefore, an abuse of discretion. City of New Orleans Employees' Retirement System v. Hayward (Unpublished).

• Mortgagor Cannot Use Indefinite Promise of Mortgage Modification to Justify Nonpayment.

On January 15th, the Eighth Circuit affirmed the dismissal of plaintiffs' claims against their home mortgage loan servicer stemming from their attempt to modify their home mortgage. After receiving conflicting information from the mortgage servicer, plaintiffs stopped paying the mortgage and the servicer foreclosed. Plaintiffs then sued for fraudulent misrepresentation and promissory estoppel. The Court held plaintiffs' allegation that the servicer said it would modify the mortgage were too indefinite to meet Rule 9(b)'s pleading standards for fraudulent misrepresentation. And plaintiffs' allegations that they received conflicting information about the availability of a modification negated their promissory estoppel claim. Freitas v. Wells Fargo Home Mortgage, Inc.

• Paying Bonuses without a Tax Plan Is Not Necessarily Corporate Waste.

On January 14th, the Delaware Supreme Court affirmed the dismissal of a derivative complaint alleging that a corporate board's decision to pay certain executive bonuses without adopting a plan that could make those bonuses tax deductible constituted corporate waste. The Court held plaintiff failed to plead with particularity that the board's decision not to implement a Section 162(m) tax plan was a decision that no reasonable person would have made. The complaint did not allege that any of the bonuses paid would have been tax deductible and the decision to sacrifice some tax savings in order to retain flexibility in compensation decisions was a classic exercise of business judgment. Freedman v. Adams.

• Defending against FIRREA.

On January 17th, Reuters discussed the arguments asserted by banks as they seek to dismiss the government's charges that they violated the Financial Institutions Reform, Recovery, and Enforcement Act. FIRREA.

• Consumer Bureau Considers Retirement Investing.

On January 17th, Bloomberg reported that the Consumer Financial Protection Bureau may seek to assert its regulatory authority in the area of retirement investing. Regulatory Claims.

• Challenging the Federal Government.

On January 16th, the American Banker summarized the statutory authority upon which a firm might base challenges to an administrative rulemaking or decision. Guide.

• Identity Theft.

On January 16th, Financial Planning noted the continued interest of the SEC and CFTC in ensuring that advisors are adequately protecting clients from identity theft. Identity Theft.

• FASB Proposes Repo Accounting Rule.

On January 15th, FASB published for comment a proposal aimed at improving financial reporting for repurchase agreements and other transfers with forward agreements to repurchase transferred assets. Proposed Accounting Standards Update, Transfers and Servicing (Topic 860) - Effective Control for Transfers with Forward Agreements to Repurchase Assets and Accounting for Repurchase Financings, would clarify the guidance for distinguishing these transactions as either sales or secured borrowings and improve disclosures about them. Comments should be submitted on or before March 29, 2013. FASB Press Release. Reuters noted the role the rule played in allowing MF Global to improve the appearance of its financial statements. Appearances.

• Dangerous Catch.

On January 15th, Reuters reported on Sven Giegold's search for the world's most dangerous financial products. Giegold, a European Parliament member from Germany, started the competition with two non-governmental organizations. Submissions may be made here by February 15, 2013. Competition.

• SEC Rule PF and FINRA's Suitability Rules.

On January 15th, Investment News discussed a possible conflict between the requirements of SEC Rule PF and Rules 2111 and 5123 of the Financial Industry Regulatory Authority. Rule PF (and its accompanying Form PF), requires private funds to disclose certain confidential information so that regulators can assess the potential systemic risk the funds might pose. FINRA Rules 2111 and 5123, the suitability rules, require broker-dealers to assess the suitability of investments for customers. Investment News asks: What happens when a broker-dealer, as part of its product suitability due diligence, asks for Rule PF information? Conflicting Rules.

• A New "Odd Couple" in the House.

On January 15th, Bloomberg profiled the new leaders of the House Financial Services Committee, Republican Chairman Jeb Hensarling and ranking Democrat Maxine Waters. Despite their differences, the two are finding common ground in areas including revisions to the Dodd-Frank Act's derivatives provisions and mortgage finance reform. Common Ground.

• CFP Board Enlists the CFPB's Assistance.

On January 15th, Investment News reported that the Certified Financial Planner Board of Standards has asked the government's Consumer Financial Protection Bureau to create a ratings system for financial certifications and designations. Ratings Request.

• Antitrust and Competition—The EU Weekly Briefing, Vol. 1, Issue 11.

Antitrust and Competition — The EU Weekly Briefing is designed to provide timely updates on recent European Union competition law by including a short description of, and links to, recent developments. EU Weekly Briefing.

• Delaware Court Revisits "Don't Ask, Don't Waive" Standstills.

For the second time in a matter of weeks, the Delaware Court of Chancery has addressed the legality of "don't ask/don't waive" standstill provisions, which could have the effect of precluding losing bidders in an auction from making a topping bid after a merger agreement is signed with the winning bidder but before it is approved by shareholders. Briefing.

• FTC Announces 2013 Revised Jurisdictional Thresholds for Hart-Scott-Rodino Act Filings.

The Federal Trade Commission recently announced the annual changes to the jurisdictional thresholds for Section 7A of the Clayton Act. Briefing.

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