The Federal Deposit Insurance Corporation, or FDIC, announced the appointment of Jim Wigand as the Director of the newly established Office of Complex Financial Institutions, or CFI. The CFI was created to better position the FDIC to carry out its responsibilities under the recently enacted Dodd-Frank Wall Street Reform and... Read More
The Federal Reserve Board has proposed two rules that would expand the coverage of consumer protection regulations to credit transactions and leases of higher dollar amounts. The proposed rules would amend Regulation Z (Truth in Lending) and Regulation M (Consumer Leasing) to implement a provision of the Dodd-Frank Wall Street... Read More
The Board of Directors of the Federal Deposit Insurance Corporation, or FDIC, today voted on a final rule to set the insurance fund’s designated reserve ratio, or DRR, at two percent of estimated insured deposits. The Dodd-Frank Wall Street Reform and Consumer Protection Act set a minimum DRR of 1.35... Read More
The Board of Directors of the Federal Deposit Insurance Corporation, or FDIC, today approved an interagency proposed rulemaking to implement certain provisions of Section 171 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Section 171 is more commonly known as the Collins Amendment. Section 171 provides that the capital... Read More
The CFTC has adopted an interim final rule that clarifies the reporting obligations of market participants with respect to swaps entered into on or after the date of enactment of the Dodd-Frank Act and prior to the effective date of swap data reporting rules implementing Section 2(h)(5)(B) of the Commodity... Read More
The CFTC has proposed a rule to implement the so-called “end-user exception” to mandatory clearing of standardized swaps under the Dodd-Frank Act. Although the text of the rule has not been released, the CFTC has provided a fact sheet and Q&A outlining the major features of the rule. Section 723... Read More
The proxy statements with required say-on-pay votes are starting to roll in. Monsanto is a superb example. The problem is, many issuers do not have the resources to match that standard. Johnson Controls and Emerson Electric are good examples to follow for those with lesser resources. All three issuers have... Read More
CFTC and SEC staff will hold a joint public roundtable on Friday, December 10, 2010, from 1:00 p.m. to 5:00 p.m., to discuss issues related to the capital and margin requirements required under Sections 731 and 764 of the Dodd-Frank Act for swap dealers, security-based swap dealers, major swap participants... Read More
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
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