Dodd-Frank.com

SEC Warns Rating Agencies

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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... Read More

Topics: Banking, Litigation, Public Companies and Securities

Fiduciary Duty Rulemaking Looms for Brokerage Industry

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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 fiduciary duty rulemaking.   As the article correctly points out, registered investment advisers have long been held to a fiduciary standard vis-a-vis their clients.  The brokerage industry has generally resisted... Read More

Topics: Banking, Litigation, Public Companies and Securities

SEC and CFTC to Hold Roundtable on Governance and Conflicts of Interest in Clearing and Listing of Swaps

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On August 20, 2010, commencing at 9:00 a.m. and ending at 12:00 p.m., staff of the SEC and CFTC (the “Agencies”) will hold a public roundtable discussion at which invited participants will discuss governance and conflicts of interest in the context of certain authority that Sections 726 and 765 of the Dodd-Frank... Read More

Topics: Banking, Energy, Insurance, Public Companies and Securities

SEC Issues Concept Release on Swap Definitions and Announces Roundtable on Clearing and Listing of Swaps

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 Section 712(d) and 721(c) of the Dodd-Frank Act requires the SEC and CFTC to define certain terms such as “swap”, “security-based swap”, “swap dealer”, “security-based swap dealer”, “major swap participant”, “major security-based swap participant”, “eligible contract participant”, and “security-based swap agreement”.   The SEC today posted this concept release to... Read More

Topics: Banking, Energy, Insurance, Public Companies and Securities