Posts from Steve Quinlivan

Dodd-Frank Act to be Amended Again


Legislation has been passed by Congress amending the Dodd-Frank Act.  President Obama is expected to sign the legislation.  H.R. 6398 amends Section 343 of the Dodd-Frank Act to provide that deposits in so called Interest on Lawyers Trust Account, commonly referred to as IOLTAs, will be fully guaranteed by the... Read More

Topics: Banking

First Public Company Receives Benefit of SEC Cooperation Policy—Implications for Whistleblower Claims


The first public company received credit for its cooperation as a result of the SEC’s policy with respect to cooperation in investigations and enforcement actions announced in January 2010.  The public company, Carter’s, Inc., entered into a non-prosecution agreement.  The SEC charged a former Executive Vice President of Carter’s Inc.... Read More

Topics: Banking, Broker-Dealer, Employment, Insurance, Litigation, Public Companies and Securities

SEC Proposes Permanent Rule Requiring Municipal Advisors to Register With Agency


The SEC has proposed a rule creating a new process by which municipal advisors must register with the SEC.  The proposed rule, required by the Dodd-Frank Wall Street Reform and Consumer Protection Act, would supplant a temporary rule the Commission adopted in September. Because the Act required that these advisors... Read More

Topics: Banking, Broker-Dealer, Investment Advisers

What Directors and Public Companies Need to Know About the End-User Swap Exception


The Dodd-Frank Act broadly requires that most swaps be cleared through a derivative clearing organization.  The Dodd-Frank Act also contains an elective exception, referred to as the “end-user exception,” from the clearing requirement if one party to the swap is not a financial entity, is using swaps to hedge or... Read More

Topics: Derivatives, Energy, Public Companies and Securities

SEC Proposes Rules on Conflicts Minerals, Mine Safety and Resource Extraction


The SEC has proposed rules on three specialized disclosures required of public companies under the Dodd-Frank Act.  Disclosure of Use of Conflict Minerals  The proposed rules mandated by the Dodd-Frank Act would require new disclosures by reporting issuers concerning conflict minerals that originated in the Democratic Republic of the Congo... Read More

Topics: Public Companies and Securities

SEC Proposes End-User Requirements Under Dodd-Frank Act for Security-Based Swaps Exempt From Mandatory Clearing


The SEC has proposed requirements of end-users when they engage in a security-based swap transaction that is not subject to mandatory clearing. The proposed rule, required under the Dodd-Frank Act, specifies the steps that end-users must follow to notify the SEC of how they generally meet their financial obligations when... Read More

Topics: Banking, Derivatives, Public Companies and Securities