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

SEC Warns Rating Agencies

US Capitol Building

Banking, Litigation, Public Companies and Securities The Securities and Exchange Commission today issued a report cautioning credit rating agencies about deceptive ratings conduct and the importance of sufficient internal controls over the policies, procedures, and methodologies the firms use to determine credit ratings. The report says that because of uncertainty regarding a jurisdictional nexus between the United States and the relevant […] Read more →

by   |   August 31, 2010

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Whistleblower claims begin

Banking, Employment, Litigation, Public Companies and Securities In a comment letter recently sent to the SEC, one firm describes how in a span of just 10 days it had already “filed several whistle-blower complaints with the SEC, pursuant to... Read more →

by   |   August 31, 2010

Attention Public Companies-You Have About 60 Days to Understand the Proxy Access Rules

Public Companies and Securities As many know, the SEC adopted the proxy access rules on August 25, 2010.  The new rules will be effective 60 days from publication in the Federal Register, excepting smaller... Read more →

by   |   August 26, 2010

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Comments on SEC Study Regarding Obligations of Brokers, Dealers, and Investment Advisers

Public Companies and Securities In a recent posting we highlighted issues surrounding the imposition of a fiduciary standard on broker-dealers.  Gauging from the overwhelming majority of comments received to... Read more →

by   |   August 25, 2010

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The SEC’s Difficult Task in Defining a “Venture Capital Fund”

Public Companies and Securities Section 407 of the Dodd-Frank Act provides an exemption from registration as an investment adviser if the investment adviser provides advice solely to one or more venture capital... Read more →

by   |   August 24, 2010

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Notice Requirements for Broker-Dealers

Public Companies and Securities With respect to the borrowing of securities from customers, Section 929X of the Dodd-Frank Act imposes the following two additional requirements on broker-dealers:  (i) every... Read more →

by   |   August 24, 2010

Stacks of Coins

CFTC and SEC Roundtable Contentious

Banking, Energy, Insurance, Public Companies and Securities As we noted, the SEC and CFTC held a joint roundtable on August 20, 2010 addressing governance and conflicts of interest on clearing and listing of swap transactions.  Gary... Read more →

by   |   August 22, 2010

Fiduciary Duty Rulemaking Looms for Brokerage Industry

Banking, Litigation, Public Companies and Securities An article in yesterday’s Wall Street Journal provides a good, short overview of the issues and differing viewpoints surrounding the SEC’s upcoming broker-dealer... Read more →

by   |   August 19, 2010

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“Bad Actor” Disqualification May Cause Headaches

Public Companies and Securities Section 926 of the Dodd-Frank Act directs the SEC to issue rules which would prevent the use of Regulation D Rule 506 offerings by certain “bad actors.”  The Dodd-Frank Act... Read more →

by   |   August 19, 2010