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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Kyle Brasseur2023-11-16T19:54:00
The Securities and Exchange Commission (SEC) continued its recent run of pushing through remaining regulations under the Dodd-Frank Act of 2010 by adopting new rules to mitigate conflicts of interest for security-based swap clearing agencies.
The rules, approved Thursday, establish governance requirements for all registered clearing agencies regarding board composition, independent directors, nominating committees, and risk management committees, the SEC said in a press release. Clearing agencies must also implement new policies and procedures to reduce the likelihood that conflicts of interest might influence the board of directors.
The regulations were called for under Section 765 of Dodd-Frank. In the past month, the SEC has adopted other Dodd-Frank rules for short sale data transparency and mandating security-based swap execution facilities register with the agency.
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News and analysis for the well-informed compliance or audit exec.
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2024-01-11T17:13:00Z By Aaron Nicodemus
A new risk alert from the Securities and Exchange Commission highlighted common deficiencies and weaknesses in the compliance programs of security-based swap dealers.
2023-11-28T14:25:00Z By Kyle Brasseur
The Securities and Exchange Commission moved quickly to adopt an unfulfilled mandate of the Dodd-Frank Act to prevent the sale of certain securities if there is a conflict of interest.
2023-11-06T12:28:00Z By Aaron Nicodemus
The Securities and Exchange Commission approved new regulations for security-based swap execution facilities, part of the agency’s steady progress in implementing languishing rules from the Dodd-Frank Act.
2024-07-24T15:50:00Z By Aaron Nicodemus
Financial institutions holding Russian sovereign assets that have not reported them to the Treasury Department’s Office of Foreign Assets Control are now required to do so by Aug. 2.
2024-07-23T12:29:00Z By Ruth Prickett
Compliance officers should take note of proposed laws in the U.K. with the newly elected Labor government setting the legislative agenda in the King’s Speech last week, promising consultations on enhanced employee rights and a higher minimum wage.
2024-07-22T15:50:00Z By Aaron Nicodemus
Four federal banking regulators have joined the Treasury Department’s Financial Crimes Enforcement Network in issuing a notice of proposed rulemaking that would require financial institutions to conduct more thorough risk assessments on their anti-money laundering/countering the financing of terrorism programs.
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