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Posts from Steve Quinlivan

SEC Proposes Revised Fees for Investment Advisers

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Section 204(b) of the Investment Advisers Act of 1940  authorizes the SEC to require investment advisers to file applications and other documents through an entity designated by the SEC, and to pay reasonable costs associated with such filings.   In 2000, the SEC designated the Financial Industry Regulatory Authority Regulation, Inc.,... Read More

Topics: Investment Advisers

Discord at the CFTC?

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CFTC Commissioner Bart Chilton issued this statement entitled “Statement on Position Limits, “Keeping Promises””:  Yesterday the Commission held the sixth in a series of open meetings to address rules implementing the Wall Street Reform and Consumer Protection Act of 2010.  I commend the CFTC’s staff for working diligently on the... Read More

Topics: Derivatives

CFTC and SEC to Accept Comments on a Study on Standardized Computer-Readable Algorithmic Descriptions

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The Dodd-Frank Wall Street Reform and Consumer Protection Act mandates that the CFTC and the SEC conduct a study on “the feasibility of requiring the derivatives industry to adopt standardized computer-readable algorithmic descriptions which may be used to describe complex and standardized financial derivatives.”  These algorithmic descriptions should be designed... Read More

Topics: Derivatives

Treasury Requests Private Sector to Develop System to Identify Financial Contracts

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The Dodd-Frank Wall Street Reform and Consumer Protection Act established the Office of Financial Research and provides it with the authority to collect data to support the Financial Stability Oversight Council, or FSOC,  and to set standards for reporting such data.  To support the FSOC in identifying connections among market... Read More

Topics: Banking, Broker-Dealer, Derivatives, Insurance

Agencies Issue Final Appraisal and Evaluation Guidelines

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The federal financial regulatory agencies issued final supervisory guidance on sound practices by financial institutions for real estate appraisals and evaluations.  Financial institutions use reliable appraisals and evaluations to determine the value of collateral for mortgages and other loans; appraisals and evaluations are integral to institutions’ real estate lending.  Institutions base... Read More

Topics: Banking

CFTC to Address End User Exception December 9

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The Commodity Futures Trading Commission, or CFTC, will hold a public meeting on Thursday, December 9, 2010, to consider the issuance of proposed rulemakings under the Dodd-Frank Wall Street Reform and Consumer Protection Act on the following topics: Core principles and other requirements for swap execution facilities; End-user exception to... Read More

Topics: Banking, Derivatives, Energy, Private Equity, Public Companies and Securities

CFTC Proposes Long-Awaited Rule on Swap Dealer and Major Swap Participant Definitions

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Today, the CFTC approved, by a 3-2 vote (Commissioners Sommers and O’Malia dissenting), a long-awaited proposed rule defining the terms “swap dealer” and “major swap participant.” Both types of entities will face comprehensive regulation under the swap trading provisions of the Dodd-Frank bill, including registration, reporting, recordkeeping, business conduct, and... Read More

Topics: Banking, Derivatives, Energy, Insurance