NASAA Requests Comments on Proposed Policy Allowing Use of Electronic Offering Documents and Electronic Signatures


On May 2, 2016 the North American Securities Administrators Association (NASAA) issued a release requesting public comments on a proposed Statement of Policy (SOP) that would allow issuers and its selling agents to use electronic offering documents, (e.g., subscription agreements), when conducting securities offerings. Also, the proposed SOP would allow issuers to... Read More

Topics: Broker-Dealer, Public Companies and Securities

OFR Analyzes Changes in Regulatory Use of Credit Ratings Since Dodd-Frank


Treasury’s Office of Financial Research has released a brief entitled “Credit Ratings in Financial Regulation: What’s Changed Since the Dodd-Frank Act?” The introductory statement notes “The use of credit ratings in financial regulation created perverse incentives for market participants and contributed to the financial crisis. As part of the Dodd-Frank... Read More

Topics: Banking, Broker-Dealer, Public Companies and Securities

New Proposed Rules on Banker Incentive Compensation Released


The National Credit Union Administration, or NCUA, became the first of six Agencies to unveil a revised rule proposal under Section 956 of the Dodd-Frank Act: prohibiting incentive-based payment arrangements that the Agencies determine encourage inappropriate risks by certain financial institutions by providing excessive compensation or that could lead to... Read More

Topics: Banking, Broker-Dealer, Employment, Executive Compensation

Three Bills Proposing Amendments to the Federal Securities Laws Gain Traction in Congress


The U.S. House of Representatives passed three bills on February 1, 2016 that propose changes to the federal securities laws, including the Securities Act of 1933 (’33 Act) and Securities Exchange Act of 1934 (’34 Act). The Fair Investment Opportunities for Professional Experts Act (H.R. 2187) passed the House by... Read More

Topics: Broker-Dealer, Investment Advisers, Private Equity, Public Companies and Securities