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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2023-01-25T20:18:00
The Securities and Exchange Commission (SEC) resurrected an unfulfilled mandate of the Dodd-Frank Act that would prevent the sale of certain securities if there is a conflict of interest.
The proposed rule, revisited for the first time after initially being put forward in 2011, would prohibit securitization participants like underwriters, placement agents, initial purchasers, or sponsors of an asset-backed security, as well as their affiliates and subsidiaries, from engaging in any transaction that would involve or result in a material conflict of interest between the securitization participant and an investor in such an ABS.
“Prohibited transactions would include, for example, a short sale of the ABS or the purchase of a credit default swap or other credit derivative that entitles the securitization participant to receive payments upon the occurrence of specified credit events in respect of the ABS,” the SEC said in a fact sheet accompanying Wednesday’s proposal.
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2023-10-16T14:14:00Z By Kyle Brasseur
The Securities and Exchange Commission continued its push to get across the finish line the remaining provisions of the Dodd-Frank Act with the adoption of a new rule for institutional investment managers to provide greater transparency regarding short sale data.
2023-06-07T18:22:00Z By Kyle Brasseur
The Securities and Exchange Commission adopted two rules aimed at curbing potential misconduct in the security-based swaps market.
2023-02-08T21:13:00Z By Aaron Nicodemus
The Securities and Exchange Commission’s 2023 examination priorities report laid out areas under the microscope this year, including compliance with the agency’s Marketing Rule and Regulation Best Interest.
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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