Section 731 of the Dodd-Frank Act amends the Commodity Exchange Act, or CEA, by inserting Sections 4s(f) and 4s(g), which establish reporting, recordkeeping, and daily trading records requirements for swap dealers and major swap participants. Section 4s(f)(1) requires swap dealers and major swap participants to “make such reports as are... Read More
Securities Investor Protection Corporation, or SIPC, has filed with the SEC a proposed bylaw change. The SEC has published a notice to solicit comments on the proposed bylaw change from interested persons. Section 4(c)(2) of the Securities Investor Protection Act of 1970, or SIPA, requires SIPC to impose assessments upon... Read More
The Federal Reserve Board has posted detailed information on its public website about more than 21,000 individual credit and other transactions conducted to stabilize markets during the recent financial crisis, restore the flow of credit to American families and businesses, and support economic recovery and job creation in the aftermath... Read More
With little fanfare, the CFTC has issued a notice seeking public input on the interagency study required by section 750 of the Dodd-Frank Act with respect to oversight of existing and prospective carbon markets. The study is intended to ensure “an efficient, secure, and transparent carbon market, including oversight of... Read More
There are plenty of new things to remember with the Dodd-Frank Act. But there were pretty far reaching changes to proxy statements last year as well. In particular, the director qualification disclosure required by Item 401(e) of Regulation S-K has drawn SEC comment. About all you can tell from the... Read More
Title IV of the Dodd-Frank Act includes many of the amendments to the Investment Advisers Act implemented by the Dodd-Frank Act. These amendments include provisions that reallocate responsibility for oversight of investment advisers by delegating generally to the states responsibility over certain mid-sized advisers, i.e., those that have between $25... Read More
The CFTC has issued a proposed rule concerning the rights of counterparties of swap dealers (“SDs”) and major swap participants (“MSPs”) with respect to the segregation of collateral supplied for margining, guaranteeing, or securing uncleared swaps. Under the proposed rule: – An SD or MSP must notify each counterparty at... Read More
On Tuesday, November 23, Treasury Secretary Tim Geithner, in his capacity as chairperson of the Financial Stability Oversight Council, or FSOC, hosted the second meeting of the FSOC at the U.S. Department of the Treasury. The meeting included a closed press session and an open press session, which consisted of... Read More
The Commodity Futures Trading Commission, or CFTC, will hold a public meeting on Wednesday, December 1, 2010, to consider the issuance of proposed rulemakings under the Dodd-Frank Wall Street Reform and Consumer Protection Act on the following topics: Further definition of “swap dealer,” “security-based swap dealer,” “major swap participant” and... Read More
The Dodd-Frank Act repealed the “private adviser exemption” contained in section 203(b)(3) of the Investment Advisers Act on which advisers to many private equity and hedge funds had relied in order to avoid registration under the Investment Advisers Act. Section 408 of the Dodd-Frank Act, which added new section 203(m)... Read More