Regulatory Developments -
SEC to Vote on Final Title III Crowdfunding Rules Oct. 30:
The SEC has announced that it will vote on whether to adopt rules and forms related to the offer and sale of securities through...more
10/29/2015
/ Brokers ,
Capital Requirements ,
Covered Swap Entities (CSE) ,
Crowdfunding ,
D&O Insurance ,
Department of Education ,
Disgorgement ,
Dodd-Frank ,
Enforcement Actions ,
Excessive Fees ,
Farm Credit Administration ,
FDIC ,
Federal Reserve ,
FHFA ,
Funding Portal ,
Margin Requirements ,
New Regulations ,
OCC ,
Penalties ,
Professional Misconduct ,
Proposed Regulation ,
Rule 147 ,
Section 504 ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Student Loans ,
Students ,
Swaps ,
Title III
Regulatory Developments -
FINRA Files Proposed Rule Change to Apply Markup Rule to Government Securities:
On Sept. 30 FINRA filed with the SEC a proposed rule change, published in the Federal Register on Oct. 6, to...more
10/8/2015
/ Amended Regulation ,
Cease and Desist Orders ,
Comment Period ,
Consumer Financial Protection Bureau (CFPB) ,
Data Privacy ,
Data Protection ,
Data Security ,
Dispute Resolution ,
Dodd-Frank ,
Enforcement Actions ,
EU Data Protection Laws ,
FDIC ,
Federal Register ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Institutions ,
International Data Transfers ,
Kamala Harris ,
Mandatory Arbitration Clauses ,
Military Service Members ,
Municipal Securities Market ,
Proposed Regulation ,
Securities and Exchange Commission (SEC) ,
Small Business ,
TILA-RESPA Integrated Disclosure Rule (TRID) ,
US-EU Safe Harbor Framework ,
Websites
Regulatory Developments -
NYDFS Announces Approval of First BitLicense Application from a Virtual Currency Firm:
The New York State Department of Financial Services (NYDFS) announced Sept. 22 that it has approved...more
9/24/2015
/ Amended Regulation ,
Bitcoin ,
BitLicense ,
CFTC ,
Choke Point ,
Comment Period ,
Credit Ratings ,
Cuba ,
Cuban Assets Control Regulations (CACR) ,
Cybersecurity ,
Data Breach ,
Department of Justice (DOJ) ,
Dodd-Frank ,
Embargo ,
Export Administration Regulations (EAR) ,
FDIC ,
Financial Institutions ,
Investment Company Act of 1940 ,
Material Disclosures ,
Meals-Gifts-and Entertainment Rules ,
Money Market Funds ,
MSRB ,
Municipal Advisers ,
NRSRO ,
NYDFS ,
NYSE ,
Personally Identifiable Information ,
Press Releases ,
Publicly-Traded Companies ,
Registered Investment Advisors ,
Sanctions ,
Securities and Exchange Commission (SEC) ,
Virtual Currency
Regulatory Developments -
FinCEN Rules Digital Precious Metal Certificates Provider is a Money Transmitter:
On Aug. 14 FinCEN issued a ruling applying its virtual currency rules to an e-precious metals company. The...more
Regulatory Developments -
SEC Adopts Rules and Forms for Registration of Security-Based Swap Dealers and Major Security-Based Swap Participants:
On Aug. 5, the SEC voted to adopt registration rules and forms for...more
8/6/2015
/ Anti-Money Laundering ,
CEOs ,
Dodd-Frank ,
Fee Waivers ,
Final Rules ,
Financial Industry Regulatory Authority (FINRA) ,
Investment Funds ,
Management Fees ,
Pay Ratio ,
Penny Stocks ,
Proposed Regulation ,
Securities and Exchange Commission (SEC) ,
Security-Based Swaps ,
Swap Dealers
Regulatory Developments -
Client Alert: SEC Proposes Pay for Performance Rules:
Goodwin Procter’s Capital Markets practice has issued a Client Alert on the SEC’s proposed rule that would require most public...more
6/25/2015
/ Board of Directors ,
Broker-Dealer ,
Cybersecurity ,
Data Protection ,
Distributed Denial of Service ,
Dodd-Frank ,
Enforcement ,
Enforcement Actions ,
Executive Compensation ,
Financial Industry Regulatory Authority (FINRA) ,
Flood Insurance ,
Investment Adviser ,
Lenders ,
Morgan Stanley ,
Municipal Bonds ,
OCIE ,
Proxy Statements ,
Publicly-Traded Companies ,
Securities and Exchange Commission (SEC) ,
Security-Based Swaps ,
Swaps
The Impact of Regulation on Community Banks: Harvard Study and Senate Banking Committee Hearing Highlight Differing Views. FDIC Director of Risk Management Supervision Doreen Eberley testified last week before the Senate...more
2/19/2015
/ Alternative Investment Funds ,
Alternative Mutual Funds ,
Bad Actors ,
Banking Sector ,
CFTC ,
Commodity Pool ,
Community Banks ,
Dodd-Frank ,
Municipal Securities Market ,
Securities and Exchange Commission (SEC) ,
Senate Banking Committee
Editor’s Note -
CFTC Commissioner Giancarlo Proposes “Pro-Reform Reconsideration” of the Swaps Trading Rules. On January 29, CFTC Commissioner J. Christopher Giancarlo published a whitepaper titled “Pro-Reform...more
The CFTC Exercises Expanded Jurisdiction Over Retail Transactions in Physical Commodities.
Title VII of the Dodd-Frank Act of 2010 amended the Commodity Exchange Act (CEA) to add new authority over certain leveraged,...more
1/30/2015
/ Amended Legislation ,
CFTC ,
Class Action ,
Commodity Exchange Act (CEA) ,
Cuba ,
Cuban Assets Control Regulations (CACR) ,
Dodd-Frank ,
Enforcement Actions ,
Federal Reserve ,
Financial Industry Regulatory Authority (FINRA) ,
Investment Adviser ,
Pay-To-Play ,
Payment Systems ,
Proxy Advisors ,
Proxy Voting Guidelines ,
Regulatory Agenda ,
Sanctions ,
Securities and Exchange Commission (SEC)
Editor’s Note:
Spotlight on the Credit Risk Retention Rule: The OCC, Federal Reserve Board, FDIC, SEC, FHFA and HUD announced the adoption of a joint final rule (the Rule) to implement the credit risk retention...more
12/31/2014
/ Asset-Backed Securities ,
Banking Sector ,
Banks ,
Dodd-Frank ,
Enforcement Actions ,
Final Rules ,
Investment Adviser ,
OCIE ,
Prudential Regulation Authority (PRA) ,
Risk Retention ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act
Amendment to Swaps Push-out Provision of Dodd-Frank: Section 630 of the recently passed Consolidated and Further Continuing Appropriations Act, 2015 (“Omnibus Spending Bill” – see p. 249) amends Section 716 of the Dodd-Frank...more
12/19/2014
/ Appropriations Bill ,
Asset Management ,
Bank Holding Company ,
Business Development Companies ,
Cuba ,
Dodd-Frank ,
Enforcement Actions ,
ETFs ,
FBAR ,
Federal Reserve ,
FinCEN ,
Global Systemically Important Banks (G-SIBs) ,
Initial Public Offering (IPO) ,
Office of Foreign Assets Control (OFAC) ,
Push-Out Requirements ,
Securities and Exchange Commission (SEC) ,
Swaps ,
Toys R Us
FINRA Requests Comment on Proposed “Pay-to-Play” Rule -
FINRA issued Regulatory Notice 14-50 requesting comment on proposed “pay-to-play” and related rules that would regulate in a manner similar to Rule 206(4)-5 under...more
11/20/2014
/ Alternative Mutual Funds ,
Anti-Money Laundering ,
Civil Monetary Penalty ,
Crowdfunding ,
Dodd-Frank ,
Financial Industry Regulatory Authority (FINRA) ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Pay-To-Play ,
Proposed Regulation ,
Retroactivity ,
Securities and Exchange Commission (SEC) ,
Settlement ,
U.S. Treasury ,
Unregistered Securities ,
Variable Insurance
The SEC first proposed a study of the fiduciary obligations of brokers and investment advisers as required by the Dodd-Frank Act in July 2010. The SEC still has not made a decision about the shape of a fiduciary rule for...more
11/13/2014
/ Bank Holding Company Act ,
Cybersecurity ,
Dodd-Frank ,
ETMFs ,
Exemptive Relief ,
FDIC ,
Federal Reserve ,
FFIEC ,
FinCEN ,
Leveraged Lending ,
Money Services Business ,
OCC ,
Peer-to-Peer ,
Securities and Exchange Commission (SEC)
The Day After: There are still a few undecided races but we know that Republicans will control the House and the Senate in the next session of Congress. This may provide an opportunity for more bipartisan legislation in the...more
In This Issue: The CFTC provided long-awaited exemptive relief for commodity pool operators that wish to offer their funds in private offerings using general solicitation under Rule 506(c) of the SEC’s Regulation D. ...more
9/18/2014
/ CFTC ,
Commodity Pool ,
Compliance ,
CPO ,
Dodd-Frank ,
Enforcement ,
Enforcement Actions ,
OCIE ,
Private Offerings ,
Regulation D ,
Rule 506(c) ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Swap Dealers ,
Swaps