Joe Mont
For Second Year in a Row, SEC Reduces Filing Fees
The cost of doing business with the Securities and Exchange Commission is going to get a little less expensive. For the second year in a row, the Commission will reduce its filing fees. The SEC’s first fee advisory for fiscal year 2015, which goes into effect on Oct. 1, is 10 percent lower than last […]
SEC Adopts Asset-Backed Securities Reforms, Credit Agency Rules
Four years in the making, the Securities and Exchange Commission on Wednesday adopted revised rules governing the disclosure, reporting, and offering process for asset-backed securities. In a separate, but related, action it also finalized several new requirements for credit rating agencies registered with the SEC as nationally recognized statistical rating organizations. The new asset-backed securities […]
Exchanges, FINRA Propose an Experiment With Stock Tick Sizes
National securities exchanges and the Financial Industry Regulatory Authority plan to experiment with tick size alternatives, allow some stocks to trade in five-cent increments, and see whether that trading structure increases their liquidity and should be made permanent. The proposal, announced by the Securities and Exchange Commission on Tuesday, will create a 12-month pilot program […]
Podcast: Five Best Practices for Minimizing BYOD Risk
The emergence of corporate bring-your-own device initiatives is great for employees on the go and appreciated by time-strapped managers. It is also a potential nightmare for compliance personnel because failing to comply with data security and privacy regulations can result in large fines, litigation, and damage to a company’s reputation. In this edition of the […]
Credit Unions Urge Retailer Targeted Breach Laws
A recent data security breach affecting 51 UPS franchise stores prompted the National Association of Federal Credit Unions to renew its call for Congress to impose new regulations on retailers that collect, use, and store customer data. The letter, delivered to House and Senate leaders on Friday, says that the malware attack on UPS Stores […]
CFPB Gives Banks More Time to Comply With Money Transfer Rules
The Consumer Financial Protection Bureau will give federally insured banks and credit unions five additional years to comply with new disclosure requirements affecting international money transfers. The extension was included among recently finalized amendments to the Bureau’s international remittance transfer rule. Prior to passage of the Dodd-Frank Act, international money transfers were generally not covered […]
SEC Official Pitches User Fees for Adviser Exams
The idea of regulators imposing user fees to bolster their budgets is an idea that rarely gains traction in Congress – for several years, for example, the Obama Administration has unsuccessfully advocated their use by the Commodity Futures Trading Commission. The latest pitch comes from the Securities and Exchange Commission as a means to better […]
Citing Data Accuracy Fears, Groups Want Medical Payments Website Delayed
Federal healthcare regulators are cautiously moving to delay the implementation deadline of yet another healthcare reform Website, as an array of voices in the medical, pharmaceutical, and healthcare industries say the data collection practices behind the Website are not yet effective. The database in question, administered by the Centers for Medicare and Medicaid Services through […]
