Financial Services Legislative and Regulatory Update -- November 18, 2013

In This Issue:

Leading the Past Week; Legislative Branch; Executive Branch; International; Miscellaneous; and Upcoming Hearings.

Excerpt from Leading the Past Week -

While Washington and the country were mainly focused on the troubles surrounding the implementation of the of the Affordable Care Act (ACA), other areas of the federal government tasked with implementing the President’s other signature law – Dodd-Frank – were having a bit more success. Last week, regulators moved ahead with several aspects of the Dodd-Frank Act, including new clearinghouse standards and additional stress test requirements. However, one area where the roll out has not gone as smoothly is the Volcker Rule. With the nominee for CFTC chair announced this week, it seems that the impetus to get a draft of the final rule out may have gained steam. Despite the interest by some to move forward, there are clear bumps in the road head. For example, it was reported that Securities and Exchange Commission (SEC) Commissioner Michael Piwowar will not support a “final or interim final rule without first re-proposing” the Volcker Rule, a position similar to fellow Republican Commissioner Dan Gallagher, though with a full slate at the SEC, Chairwoman White would have enough votes to pass if her two fellow Democratic Commissioners hold. Though there may be dissent among those that must vote on a final Volcker Rule, regulators are expected to release a draft as soon as this week – though we’ve been close before.

Please see full issue below for more information.

LOADING PDF: If there are any problems, click here to download the file.

Written by:

Published In:


DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Mintz Levin - Public Finance Matters | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »

All the intelligence you need, in one easy email:

Great! Your first step to building an email digest of JD Supra authors and topics. Log in with LinkedIn so we can start sending your digest...

Sign up for your custom alerts now, using LinkedIn ›

* With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name.