Dodd-Frank.com

MSRB Requests Comments on a Draft Rule and Interpretive Notices for Municipal Advisors

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The Municipal Securities Rule Making Board, or MSRB, is requesting comments on a draft rule and two interpretive notices applicable to municipal advisors. The interpretive notices are based upon the statutory definition of municipal advisor set forth in the Dodd-Frank Act without regard to any interpretation of that term proposed... Read More

Topics: Broker-Dealer, Municipal Advisors

SEC Staff Study on Investor Access to Registration Information About Investment Advisers and Broker-Dealers

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Section 919B of the Dodd-Frank Act directs the SEC to complete a study, including recommendations, of ways to improve the access of investors to registration information about registered and previously registered investment advisers, associated persons of investment advisers, brokers and dealers and their associated persons, and to identify additional information... Read More

Topics: Broker-Dealer, Investment Advisers

FSOC Issues Notice of Proposed Rulemaking Regarding Authority to Require Supervision and Regulation of Certain Nonbank Financial Companies

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The Dodd-Frank Act mandated that the Financial Stability Oversight Council, or FSOC, ensure that all financial companies whose failure could pose a threat to the financial stability of the United States – not just banks – will be subject to strong oversight. Using the considerations set forth in the Dodd-Frank... Read More

Topics: Banking, Broker-Dealer, Insurance, Investment Advisers, Public Companies and Securities

SEC Extends Temporary Rule Regarding Principal Trades with Certain Advisory Clients

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Under Section 913 of the Dodd-Frank Act, the SEC is required to conduct a study, and provide a report to Congress, concerning the obligations of broker-dealers and investment advisers, including the standards of care applicable to those intermediaries and their associated persons.  The SEC intends to deliver the report concerning... Read More

Topics: Broker-Dealer, Investment Advisers

First Public Company Receives Benefit of SEC Cooperation Policy—Implications for Whistleblower Claims

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The first public company received credit for its cooperation as a result of the SEC’s policy with respect to cooperation in investigations and enforcement actions announced in January 2010.  The public company, Carter’s, Inc., entered into a non-prosecution agreement.  The SEC charged a former Executive Vice President of Carter’s Inc.... Read More

Topics: Banking, Broker-Dealer, Employment, Insurance, Litigation, Public Companies and Securities

SEC Proposes Permanent Rule Requiring Municipal Advisors to Register With Agency

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The SEC has proposed a rule creating a new process by which municipal advisors must register with the SEC.  The proposed rule, required by the Dodd-Frank Wall Street Reform and Consumer Protection Act, would supplant a temporary rule the Commission adopted in September. Because the Act required that these advisors... Read More

Topics: Banking, Broker-Dealer, Investment Advisers