CFTC Adopts Interim Final Rule on Reporting of Pre-Enactment Swaps


Beating the deadline (October 20, 2010) for the first of its required Dodd-Frank rulemakings by more than two weeks, the CFTC has announced publication of its required interim final rule for the reporting of pre-enactment swap transactions. The basic requirements of the reporting rule are outlined below. What Counterparties are... Read More

Topics: Banking, Derivatives, Energy, Insurance, Uncategorized

More Clues on the SEC Dodd-Frank Timeline


SEC Chair Mary Schapiro testified before the Senate Committee on Banking, Housing, and Urban Affairs on September 30, 2010. In so doing she gave more clues on the SEC’s regulatory priorities under the Dodd-Frank Act and timing for rulemaking actions.  OTC Derivatives.  Title VII of the Dodd-Frank Act provides a... Read More

Topics: Banking, Energy, Executive Compensation, Private Equity, Public Companies and Securities

Be Careful What You Tell the Rating Agencies – Regulation FD Revised


This SEC revised Regulation FD to implement Section 939B of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, which requires that the SEC amend Regulation FD to remove the specific exemption from the rule for disclosures made to nationally recognized statistical rating organizations and credit rating agencies... Read More

Topics: Banking, Insurance, Public Companies and Securities

FDIC Considers New Deposit Insurance Assessment Authority


As part of the implementation of the Dodd Frank Wall Street Reform and Consumer Protection Act, the Federal Deposit Insurance Corporation held a roundtable discussion on September 24, 2010.  The discussions centered on the new deposit insurance assessment authority granted to the FDIC.  Industry executives, trade association representatives, and others... Read More

Topics: Banking

PCAOB, GAAS and Broker-Dealers


The SEC has issued interpretive guidance regarding the meaning of the term “generally accepted auditing standards” (“GAAS”) after adoption of the Dodd-Frank Act.  Section 982 of the Dodd-Frank Act amended the Sarbanes-Oxley Act of 2002  to authorize the Public Company Accounting Oversight Board (“PCAOB”), among other things, to establish, subject... Read More

Topics: Banking, Public Companies and Securities

Chairman Sheds Light on CFTC Rulemakings in Remarks to Chamber of Commerce


In remarks before the U.S. Chamber of Commerce yesterday, CFTC Chairman Gary Gensler discussed several aspects of the Commission’s implementation of the Dodd-Frank Act. According to the Chairman, the Commission is following two guiding principles with respect to its rule-writing process. The first principle, which should come as no surprise,... Read More

Topics: Banking, Derivatives, Energy, Insurance