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Investor Transparency Post AIFMD: What Have We Gained?

The Alternative Investment Fund Managers Directive (2011/61/EU) (the “Directive” or “AIFMD”) states in Recital 94 that its objective is: ...to ensure a high level of investor protection by laying down a common...more

Financial Regulatory Developments Focus - September 2014 #3

In this issue: - Derivatives - Consumer Protection - Enforcement - People - Events - Excerpt from Derivatives: CFTC Issues No-Action Relief for Qualifying Swaps Trading...more

Bank Regulators Propose Relaxed Margin Requirements for Corporate End Users of Uncleared Swaps

Five federal agencies have taken a second stab at a proposed rule to establish margin requirements for swap dealers, major swap participants, security-based swap dealers, and major security-based swap participants as...more

Summary of Prudential Regulators’ Re-Proposed Margin Rules

On September 3, the Board of Governors of the Federal Reserve System (“Board”), the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, the Farm Credit Administration and the Federal Housing...more

Payday lender breaches National Consumer Credit Act

On 26 August 2014 the Federal Court determined that the Cash Store Pty Ltd (in liquidation), a payday lender, and Assistive Finance Australia Pty Ltd, a loan funder, committed seven separate breaches of their lending...more

Bank of America’s $16.65 Billion Settlement

In what is being reported as the largest settlement ever between the U.S. and a single business entity, Attorney General Eric Holder and Associate Attorney General Tony West announced Thursday that Bank of America Corp....more

Financial Regulatory Developments Focus - August 2014 #4

In this issue: - Derivatives - Bank Prudential Regulation & Regulatory Capital - Consumer Protection - People - Excerpt from Derivatives: Regulators Request FSB to Assist in...more

SEC’s Office of Investor Education and Advocacy Releases Alert on Identifying Fraudulent Private Placements

On August 4, the Securities and Exchange Commission’s Office of Investor Education and Advocacy issued an Investor Alert to assist investors in identifying potentially fraudulent private placements. In the Alert, the Office...more

Corporate and Financial Weekly Digest - Volume IX, Issue 32

In this issue: - SEC’s Office of Investor Education and Advocacy Releases Alert on Identifying Fraudulent Private Placements - ICE Futures U.S. Issues Amendments to EFRP Rule and FAQs - Consumer Financial...more

Regulators release Statements of Intent

The Australian Government (via The Treasury) has published Statements of Expectations for the Australian Prudential Regulation Authority (APRA), the Australian Competition and Consumer Commission (ACCC) and the Australian...more

Financial Regulatory Developments Focus - August 2014 #2

In this issue: - Derivatives - Bank Structure - Recovery & Resolution - Bank Prudential Regulation & Regulatory Capital - Financial Services - Consumer Protection - Funds...more

Reg A+ Challenged Again

Another letter to the SEC from the Hill challenges the Regulation A+ proposal. This time, the authors question the authority of the SEC in defining “qualified purchaser” as an offeree or purchaser in a Tier 2 Reg A+...more

Financial Regulatory Developments Focus - August 2014

In this issue: - Derivatives - Compensation - Recovery & Resolution - Bank Prudential Regulation and Regulatory Capital - Financial Market Infrastructure - Financial Services...more

Cybersecurity as an Investment Risk

PricewaterhouseCoopers LLP (PwC) and Investor Responsibility Research Center Institute (IRRCi) have weighed in on the cybersecurity issue from an investor’s point of view in their paper called What investors need to know...more

Financial Regulatory Developments Focus - July #4

In this issue: - Derivatives - Regulatory Capital - Recovery & Resolution - Bank Structure - Financial Market Infrastructure - Financial Services - Funds -...more

Disclosure Reform

Yesterday, the US Chamber of Commerce’s Center for Capital Markets Competitiveness hosted a half-day session on “Corporate Disclosure Reform: Ensuring a Balanced System that Informs and Protects Investors and Capital...more

Capital Thinking: Financial Services

LEGISLATIVE ACTIVITY - GAO expected to release Report on Big Banks - On Thursday, July 31, the Government Accountability Office (GAO) is expected to release a long awaited report on funding advantages of the...more

VA Switches: FINRA Disciplinary Action Reminds Firms About the Need for Adequate Supervisory Procedures

In a case involving unsuitable variable annuity (VA) transactions, FINRA found that having good procedures and discovering improper conduct are not enough. A member firm must also ensure that it has adequate supervisory...more

SEC Approves FINRA Rule Limiting Expungement

On July 22, the Securities and Exchange Commission authorized the Financial Industry Regulatory Authority, Inc. to implement FINRA Rule 2081 prohibiting brokers from conditioning settlement of customer complaints on (or...more

SEC Charges ECN Operator For Failing To Protect Customer Data

Fragmented markets, alternative trading systems and dark pools are increasingly a focus of discussion in the wake of repeated market outages. Interest in these venues has been intensified by the publication of Flash Boys and...more

Expect Focus - Catching The Next Wave, Regulatory and Litigation Developments - Volume II, Spring 2014

In This Issue: - IN THE SPOTLIGHT ..Private Equity: The Next Wave of SEC Enforcement Actions? - LIFE INSURANCE ..How to Fight a STOLI Scheme: Court Rulings Offer Clues ..STOA Schemes Face...more

Individual Liability: What’s Behind The Headlines?

It’s been open season on financial institutions since the 2008-2009 financial crisis (“Financial Crisis”). State and federal prosecutors and regulators are competing with each other for press coverage of their latest consent...more

Financial Regulatory Developments Focus - July 2014 #2

In this issue: - Derivatives - Regulatory Capital - Recovery & Resolution - Financial Services - Consumer Protection - Enforcement - People - Events -...more

Private Equity: The Next Wave of SEC Enforcement Actions?

Ever since the Dodd-Frank Wall Street Reform and Consumer Protection Act required many investment advisers to private equity funds to register with the SEC for the first time, fund managers knew that additional scrutiny might...more

Financial Regulatory Developments Focus - July 2014

In this issue: - Derivatives - Compensation - Regulatory Capital - Credit Ratings - Financial Market Infrastructure - Financial Services - Funds - Enforcement...more

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