The SEC charged Rajarengan "Rengan" Rajaratnam for his role in the insider trading scheme allegedly spearheaded by his older brother Raj Rajaratnam and involving hedge fund advisory firm Galleon Management. The SEC has now charged 33 defendants in its Galleon-related enforcement actions. The alleged insider trading occurred in the securities of more than 15 companies for illicit gains totaling more than $96 million. See: SEC Complaint. Related News: "California Hedge Fund Manager Agrees to $1.8 Million Settlement in Raj Rajaratnam Insider Trading Case" (March 20, 2013) and "SEC Obtains Final

The SEC released a staff presentation at the Forums on Auditing in the Small Business Environment hosted by the Public Company Accounting Oversight Board. The presentation summarizes key SEC developments on Dodd-Frank Act rules and studies, the Jumpstart Our Business Startups ("JOBS") Act rules and studies, the accommodations available to Emerging Growth Companies ("EGCs"), and the SEC's Statement in Support of Convergence and Global Accounting Standards. The presentation then describes key areas where CF is focused, which are also described in the Division of Corporation Finance Financial

Remarks by Robert Zwirb on last week's decision in the Brian Hunter v. FERC manipulation case, which held that FERC lacked the jurisdiction to prosecute Hunter, have appeared in the Energy Metro Desk. The D.C. Circuit interpreted the CEA's exclusive jurisdiction clause as preempting the authority of another regulatory agency to regulate or bring an enforcement action over a transaction that took place, in the words of the D.C. Circuit, on "a CFTC-regulated exchange." Click here to view the excerpted article. The above excerpt is from the most recent issue of Energy Metro Desk, which is

The OCC, FDIC, and Federal Reserve released an updated supervisory guidance on leveraged lending, which has been increasing since 2009 after declining during the financial crisis. The guidance from the agencies covers transactions characterized by a borrower with a degree of financial leverage that significantly exceeds industry norms. The guidance replaces the previous guidance issued in April 2001. This guidance applies to financial institutions supervised by the agencies that engage in leveraged lending activities. The number of community banks with substantial involvement in leveraged

The House Agriculture Committee approved seven legislative proposals amending Dodd-Frank Title VII. All but one of the bills advanced on a voice vote; the Swaps Regulatory Improvement Act (H.R. 992) was approved by a vote of 31-14. H.R. 634, the Business Risk Mitigation and Price Stabilization Act, allows end users to use derivatives for hedging without being subject to margin requirements. H.R. 677, the Inter-Affiliate Swap Clarification Act, provides that certain transactions between affiliates within a single corporate group are not regulated as swaps, subject to a variety of conditions