Dodd-Frank.com

Court Holds Dodd-Frank Ban on Arbitration of Whistleblower Claims is Retroactive

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In Pezza v. Investors Capital Corp., (D. Mass. Civ. Ac. No. 10-10113-DPW), the plaintiff claimed he was wrongfully retaliated against, in violation of the Sarbanes-Oxley Act, after having raised concerns regarding misconduct by the defendants in connection with securities transactions.  The defendants raised the obligation to arbitrate as an affirmative... Read More

Topics: Employment, Litigation, Uncategorized

Fed and FTC Propose Rules Regarding Credit Score Disclosures

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The Federal Reserve Board and the Federal Trade Commission, or FTC, have  proposed regulations regarding the credit score disclosure requirements of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The statute requires creditors to disclose credit scores and related information to consumers in risk-based pricing and adverse action notices... Read More

Topics: Uncategorized

More SEC Color on Current Investment Advisers Issues

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In keynote remarks given at the PLI Investment Management Institute last week, SEC Commissioner Elisse B. Walter reiterated her support for the “need to protect retail investors seeking investment advice by harmonizing the regulation of investment advisers and broker-dealers” and increased attention to the exam process.  In this context, Commissioner Walter discussed two... Read More

Topics: Uncategorized

FTC Weighs in on Planned Dodd-Frank Activities

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The Director of Consumer and Community Affairs of the Federal Reserve Board asked the Federal Trade Commission, or FTC, for information concerning the FTC’s enforcement activities related to compliance with the following regulations: Regulation B (Equal Credit Opportunity); Regulation E (Electronic Fund Transfer); Regulation M (Consumer Leasing) and Regulation Z... Read More

Topics: Banking, Uncategorized

FFIEC Determines No National Appraisal Hotline Exists

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The Federal Financial Institutions Examination Council issued a notice substantially to the following effect:  Consistent with Title XI of the Financial Institutions Reform, Recovery and Enforcement Act of 1989, as amended by Section 1473(p) of the Dodd-Frank Act, the Appraisal Subcommittee (“ASC”) must determine within six months of the Dodd-Frank... Read More

Topics: Uncategorized

Bill to Repeal the Dodd-Frank Act

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Representative Michelle Bachman has introduced the following legislation to repeal the Dodd-Frank Act: 112th CONGRESS  1st Session H. R. 87 To repeal the Dodd-Frank Wall Street Reform and Consumer Protection Act. IN THE HOUSE OF REPRESENTATIVES January 5, 2011  Mrs. Bachmann (for herself, Mr. McClintock, Mr. Posey, Mr. Akin, and... Read More

Topics: Uncategorized

Mandatory Clawbacks are on the Way—A Checklist of Items to Consider

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Section 954 of the Dodd-Frank Act requires the SEC to direct national securities exchanges to prohibit the listing of public companies that, among other things, do not develop and implement a policy providing for the recovery of erroneously paid incentive-based compensation following a required accounting restatement.  While the SEC has... Read More

Topics: Executive Compensation, Public Companies and Securities, Uncategorized

CFTC Proposes Rule on Protection of Collateral of Counterparties to Uncleared Swaps

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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

Topics: Banking, Derivatives, Energy, Insurance, Uncategorized