Timothy W. Cameron (Managing Director, SIFMA Asset Managers Group) made a statement to the Homeownership Protection Program Joint Powers Authority (JPA) expressing his concerns for the proposed use of eminent domain to take mortgage loans. SIMFA, whose members include securities firms, banks and 30 of the country's largest asset managers, who have approximately $20 trillion under management. In a plan put forward by the private group, Mortgage Resolution Partners (MRP), San Bernardino County will seize underwater, but performing loans from investors using the government's power of eminent

Re: Merger and Acquisition Activities of Foreign Firms in Reliance on Exchange Act Rule 15a-6. The SEC issued a moderately significant no-action letter permitting non-U.S. broker-dealers to rely on Rule 15a-6 in connection with private M&A transactions involving U.S. corporates with over $100 million in total assets. I describe the letter as only moderately significant since the market does not generally comply with Rule 15a-6 in private transactions (and thus, as a practical matter, the letter is not a liberalization) and it is not clear how smaller U.S. corporates will be able to engage non

Glasgow Savings Bank, Glasgow, Missouri, was closed today by the Missouri Division of Finance, which appointed the FDIC as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Regional Missouri Bank, Marceline, Missouri, to assume all of the deposits of Glasgow Savings Bank. The sole branch of Glasgow Savings Bank will reopen on Saturday as a branch of Regional Missouri Bank. Depositors of Glasgow Savings Bank will automatically become depositors of Regional Missouri Bank. Deposits will continue to be insured by the FDIC, so there is no need for

View release in full here (links externally to SEC website).

View release in full here (links externally to SEC website).