Stinson Leonard Street Dodd Frank

MAKING SENSE OF DODD-FRANK

The Dodd-Frank Act has broad and deep implications that will touch every corner of financial services and multiple other industries. This site, developed and maintained by attorneys at Stinson Leonard Street, is dedicated to making sense of this complex legislation and helping businesses understand how it will affect them specifically. Our Bloggers »

Dodd-Frank Blog

Providing Audited Financial Statements Late Leads to Charges of Custody Rule Violations

hedge fund

Litigation, Private Equity The SEC announced charges against an investment advisory firm and three of its top officials for violating the “custody rule” that requires firms to follow certain procedures when they control or have access to client money or securities. Advisory firms with custody of private fund assets can comply with the custody rule by distributing audited […] Read more →

by   |   October 29, 2014

US Capitol Building

Regulators Approve Securitization Risk Retention Rule

Banking, Public Companies and Securities Six federal agencies approved a final rule requiring sponsors of securitization transactions to retain risk in those transactions.  The final rule implements the risk retention... Read more →

by   |   October 22, 2014

governance

ISS Proposes New Methodology For Evaluating Equity Plan Proposals

Employment, Public Companies and Securities A key component to evaluating whether to place an equity plan proposal in a proxy is whether or not ISS will support the plan.  Accoding to ISS, while it has historically... Read more →

by   |   October 20, 2014

governance

ISS Considering Changing Course on Independent Chair Shareholder Proposals

Public Companies and Securities ISS is requesting feedback on a change to its voting policy on independent chair shareholder proposals.  ISS’ current policy is to generally recommend for independent chair... Read more →

by   |   October 16, 2014

whistleblower

FINRA Reminds Anti-Whistleblower Provisions Are Not Permitted in Settlement Agreements

Broker-Dealer, Litigation FINRA has published a regulatory notice where it reminds firms that it is a violation of FINRA Rule 2010 (Standards of Commercial Honor and Principles of Trade) to include... Read more →

by   |   October 15, 2014

CFPB logo

CFPB Considering Issuing No-Action Letters

Banking, Consumer Protection The CFPB has issued a proposed policy where it would issue no-action letters in limited circumstances.  The proposed policy is designed for new financial products or services... Read more →

by   |   October 13, 2014

Fallon.Robert.web

Spoofing Back in the News — First Criminal Indictment for Spoofing; CFTC Settlement Lays Out Telltale Signs of Spoofing

Broker-Dealer, Energy Last week the government handed down its first criminal indictment for allegedly engaging in “spoofing” and the Commodity Futures Trading Commission settled with Eric Moncada... Read more →

by   |   October 13, 2014

bank pic

Major Banks Agree to Temporarily Stay Swap Termination Under ISDA Protocol

Banking, Derivatives The International Swaps and Derivatives Association, Inc., or ISDA,  announced that 18 major global banks, referred to as G-18, have agreed to sign a new ISDA Resolution Stay... Read more →

by   |   October 12, 2014

broker-dealer

It’s Going to be Harder to Sell Unregistered Securities

Broker-Dealer, Public Companies and Securities The SEC has issued a Risk Alert and FAQs to remind broker-dealers of their obligations when they sell unregistered securities on behalf of clients.  This occurs when founders and... Read more →

by   |   October 9, 2014