404(b) will no longer be required for non-accelerated filers per the Wall Street Reform Act that was signed into law on, July 21, 2010.
ABC.com has a great article on this:
"President Obama signed the Wall Street reform bill into law at the Ronald Reagan building in Washington, D.C late this morning.
“We are gathered, in the heart of our nation’s capital, surrounded by memorials to leaders and citizens who served our nation in its earliest days and in its days of greatest trial. Today is such time for America,” President Obama said, “these reforms represent the strongest consumer financial protections in history -- in history.”
Flanked by Chairman Frank and Dodd, Vice President Biden, Speaker Pelosi, Senate Majority Leader Reid and others from Congress who contributed to the reform efforts, the president noted that the bill was no easy sell."