Bloomberg is reporting the SEC is in a rift over clawback policies. “The U.S. Securities and Exchange Commission is divided over when to seize pay from executives who unwittingly benefit from accounting fraud, a rift that has triggered internal disagreements over cases, according to people with direct knowledge of the... Read More
The Interaction Between Dodd-Frank and Minnesota Regulation of Investment Advisers Before enactment of the Dodd-Frank Wall Street Reform and Consumer Protection Act, the following rules applied under the Investment Advisers Act of 1940: The Investment Advisers Act precluded investment advisers with less than $25 million in assets under management from... Read More
The Dodd-Frank Act and the Sarbanes-Oxley Act both have provisions for whistleblowers. Public companies need to be familiar with all of these provisions. The Dodd-Frank Act provides that if a “whistleblower” provides “original information” in certain judicial or administrative actions, the whistleblower may be entitled to as much as 10... Read More
The Dodd-Frank Act contains provisions designed to help protect seniors (62 and over) from being victimized by persons who market securities, insurance products, or financial instruments to seniors and who claim to be specially certified to assist seniors in financial matters. The Act requires the newly authorized Office of Financial... Read More
Although President Obama only recently signed the Dodd-Frank Wall Street Reform and Consumer Protection Act, the SEC has actively taken steps to implement the new law. Remarks of Chairman Shapiro On July 27, 2010, SEC Chairman Mary L. Shapiro addressed the U.S. Chamber of Commerce. She noted that Congress has... Read More
Congress’s enactment of the insurance provisions in the Dodd-Frank Wall Street Reform and Consumer Protection Act signals the federal government’s most significant incursion into the regulation of insurance, an activity historically left to the states. Title V, the insurance provisions of Dodd-Frank, are divided into two subtitles: Subtitle A, establishing... Read More
The Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) was signed into law by President Obama on July 21, 2010. Referred to by many as the most sweeping financial reform legislation since the 1930s, the Dodd-Frank Act is likely to have a significant impact across the spectrum of... Read More
The Dodd-Frank Wall Street Reform and Consumer Protection Act contains several provisions that will have a significant impact on investment advisors and removes some key exemptions from the requirement to register as an investment advisor. Dodd-Frank also contains a “private fund” definition, which is a keystone for a number of... Read More
Dodd-Frank subjects the over-the-counter derivatives market in energy and other commodities to an expansive new regulatory regime to be placed under the jurisdiction of the Commodity Futures Trading Commission. Energy traders now face new capital and margin requirements, reporting and recordkeeping obligations, and position limits with respect to energy contracts... Read More
The Dodd-Frank Act provides a monetary incentive for whistleblowers that provide the SEC with useful information. The Act includes parallel non-retaliation provisions for whistleblowers. As a result, human resource professionals need to be aware of the ramifications on their internal policies. Public companies will also have to implement clawback policies... Read More