The Securities and Exchange Commission will host a one-day roundtable, “Technology and Trading: Promoting Stability in Today’s Markets,” to discuss ways to promote stability in markets that rely on highly automated systems. The discussion, which is open to the public, will be held at the Securities and Exchange Commission’s Washington D.C. headquarters on September 14, […]
Joe Mont
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Bank Regulators Consider Stress Testing Delays
Banking regulators announced on Monday that they will consider changes to the implementation timeline for stress testing required by the Dodd-Frank Act. The revision under consideration by the Office of the Comptroller of the Currency, Federal Reserve Board and Federal Deposit Insurance Corporation, would delay implementation for covered institutions with total consolidated assets of between […]
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OCC Offers Banks Advice on Unusual, Hard-to-Value Assets
Baseball cards, rare coins, and even vintage comic books are just some of the unique assets banks may need to deal with. Real estate, loans and notes, mineral interests, and closely held or private companies can be just as challenging as artwork and collectibles from an asset management perspective The Office of the Comptroller of […]
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Money Market Fund Reforms Hit Roadblock
Overruled by three of her commissioners, Securities and Exchange Commission Chair Mary Schapiro has been rebuffed in her two-and-half-year effort to reform money market funds. In a statement issued at 9:20 p.m. on Wednesday night, Schapiro made public that the majority had squashed proposals she has championed to impose structural reforms on the $2.4 trillion […]
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SEC Approves ‘Conflict Mineral’ Rule, Extraction Disclosures
The Securities and Exchange Commission, by a 3-2 vote on Wednesday, approved a long-delayed rule that requires companies to make specialized disclosures about their use of so-called “conflict minerals.” Section 1502 of the Dodd-Frank Act directed the SEC to adopt a rule requiring corporate disclosures related to the use of certain minerals that are mined […]
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The Career Track for CCOs Is Rarely a Straight One
Firefighter. Astronaut. Chief compliance officer. One of those jobs will never make its way onto a dreaming child’s list of what to be when they grow up. Nor is it, at least for now, a chosen path for most young men and women entering the job market. In fact, many of the folks who earn […]
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SEC Won’t Issue Interim Rule for Private Placement Pitches, Delays Meeting
The Securities and Exchange Commission will not issue an interim rule this week on a controversial JOBS Act requirement to allow public solicitations by issuers of private securities. Instead of immediate implementation, it will proceed with a traditional public comment period. The Commission is scheduled to address the proposal at an open meeting on Aug. […]
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Conflict Minerals Vote Looms; All Sides Make Pitch to SEC
With the Securities and Exchange Commission likely to vote on three highly anticipated rules on Wednesday, a last-minute pitch is underway to influence those deliberations. At an open meeting on Aug. 22 the Commission will consider whether to adopt rules regarding disclosure and reporting obligations with respect to the use of conflict minerals. It will […]
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Stress Test Feedback Sought For Banks With $50 Billion in Assets
The Office of the Comptroller of the Currency on Thursday announced that it is seeking public comment on a proposal to require annual stress test reporting for financial institutions with consolidated assets of $50 billion or more. The Dodd-Frank Act requires certain financial companies with total consolidated assets over $10 billion, including national banks and […]
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CFTC Proposes Clearing Exemption for Inter-Affiliate Swaps
The Commodity Futures Trading Commission has issued a proposed rule that would exempt inter-affiliate swaps from mandatory clearing requirements of the Dodd-Frank Act. The proposal, approved by the CFTC on Thursday, asks the public to comment on whether inter-affiliate swaps pose less counterparty risk than swaps transactions with third parties. The Commission is considering whether […]
