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The SEC Division of Corporate Finance ("DCF") has released this presentation given by Stephanie Ciboroski, Senior Assistant Chief Accountant and Mark Shannon, Associate Chief Accountant. Their (almost 50-page) PowerPoint presentation provides (i) a general update on the DCF and its organization, (ii) a description of the DCF comment process, and (iii) an overview of frequent areas of staff comment on accounting and disclosure matters. The frequent areas of staff comment included (i) a general update, and (ii) an overview of frequent areas of staff comment on accounting and disclosure matters

The SEC announced that three former bank executives in Nebraska are being charged for participating in a scheme to understate millions of dollars in losses and mislead investors and federal regulators during the financial crisis. The majority of the bad loans were related to real estate. To top things off, there is also an insider trading charge. Lofchie Comment: Perhaps we could rename Title VII of Dodd-Frank the Omaha Nebraska Accountability Act. View press release in full here (links externally to SEC website). See also : SEC complaint against the Lundstroms and Laphen ; SEC complaint

Reprinting a report by the Charlotte Observer , the House Financial Services Committee blog stated that community banks are finding ways to "trim regulatory costs and save money" with the help of certain provisions of the JOBS Act. According to the reprinted newspaper article, almost 100 U.S. banks were in the process of deregistering with the SEC in light of the higher number of investors that is now required to trigger a registration requirement. View blog post and related report here (links externally to House Financial Services Committee website).

SIFMA, as part of the Bank Loan Disclosure Task Force, released the attached white paper regarding voluntary secondary market disclosure by state and local government issuers and conduit borrowers about bank loans. The study notes that disclosure about bank loans is not currently required by Exchange Rule 15c2-12, and indicates that the unavailability of such information may be significant.In addition to the principal topic of the study, which is interesting in itself, the study also raises questions (footnote 3) as to whether certain bank loans may be "securities," and, if they are securities

The House Financial Services Committee held a continuation of a markup to vote on 11 bills that are intended to enhance capital formation for small and emerging growth companies and provide regulatory relief for community financial institutions. The Committee reported all of the bills favorably to the House Floor, with two bills receiving unanimous votes, two bills agreed to by voice vote, and the remaining bills approved along party lines. Click here for a summary of the markup meeting by Delta Strategy Group . See: House Financial Services Committee Webcast of the Meeting; House Financial