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Posts from Steve Quinlivan

Paperwork Galore: SEC Proposes Rules Requiring Public Reporting by Exempt Investment Advisers

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The SEC has proposed rules (Release No. IA-3110) requiring public reporting by exempt investment advisers.  The proposed reporting requirements for exempt investment advisers, which are not necessarily required under the Dodd-Frank Act, will impose substantial burdens on exempt investment advisers.  The Dodd-Frank Act neither specifies the types of information the... Read More

Topics: Investment Advisers, Private Equity

SEC Proposes Rules on Security-Based Swap Reporting

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The SEC has proposed new rules entailing how security-based swap transactions should be reported and publicly disseminated. The rules are proposed under Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act, which generally authorizes the SEC to regulate security-based swaps. The proposed rules represent an important step... Read More

Topics: Derivatives

SEC Seeks Public Comment Regarding Private Rights of Action for Transnational Securities Fraud

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In Morrison v. National Australia Bank, the Supreme Court limited the extraterritorial scope of  Section 10(b) of the Securities and Exchange Act of 1934 by holding that the antifraud provision only applies to domestically listed security transactions.  130 S. Ct. 2869, 2884 (2010). Notwithstanding this decision, the Securities and Exchange... Read More

Topics: Litigation, Public Companies and Securities

CFTC Proposes Rules on Registration of Swap Dealers and Major Swap Participants and Requests Comment on Extraterritorial Reach of Registration Requirements

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The CFTC has proposed rules on the registration of swap dealers and major swap participants.  The Dodd-Frank Act requires all swap dealers and major swap participants to be registered.  It contains definitions of “swap dealer” and “major swap participant” but requires the CFTC to adopt rules that complete certain aspects... Read More

Topics: Derivatives

CFTC Proposes Rules on Conflicts of Interest Policies and Procedures by Swap Dealers and Major Swap Participants

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The Commodity Futures Trading Commission, or CFTC, has proposed rules to implement new statutory provisions enacted by Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act.  The proposed regulations establish conflicts of interest requirements for swap dealers, or SDs, and major swap participants, or MSPs, for the... Read More

Topics: Derivatives

CFTC Publishes Whistleblower Proposal—Double Jeopardy for SEC Registrants?

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The CFTC has published its proposed whistleblower rules.  In a keynote address to the Practising Law Institute’s Securities Regulation Institute on November 11, 2010, CFTC Chair Gary Gensler stated the CFTC rules were intended to be the same as the recently announced SEC whistleblower proposal, except where the Dodd-Frank Act... Read More

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