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News
June 2, 2015

In the News Today – June 2, 2015

U.S. Commodity Futures Trading Commissioner Christopher Giancarlo will give a speech today claiming that U.S. prosperity is threatened by “flawed and ad hoc implementation of regulatory reform” that “is increasing the systemic risk that the Dodd Frank Act promised to reduce.” (Wall Street Journal)

Two Merrill Lynch broker-dealer units have agreed to pay $11 million to settle U.S. Securities and Exchange Commission allegations regarding short-selling. (Law360)

William Savitt, a litigation partner at Wachtell, Lipton, Rosen & Katz, has issued a memo urging company finance chiefs to review their credit agreements “with a microscope” to see if they include a “proxy put.” This “allows lenders to demand immediate repayment of outstanding balances if there has been a change of control at the company,” and can result in shareholder challenges in the form of derivative lawsuits. (WSJ CFO Journal)

The deadline to file a claim for economic loss resulting from the 2010 Gulf Oil Spill is next Monday — June 8th. The Fort Myers, FL, News-Press notes that local businesses might be eligible for compensation, “even though the oil rig explosion and resulting spill never marred area beaches.” (The News-Press)

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