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Dodd-Frank Wall Street Reform and Consumer Protection Act › Administrative Hearings

The Dodd-Frank Wall Street Reform and Consumer Protection Act is a United States federal statute signed into law on July 21, 2010. The Act was passed in response to the Great Recession of the late 2000s and... more +
The Dodd-Frank Wall Street Reform and Consumer Protection Act is a United States federal statute signed into law on July 21, 2010. The Act was passed in response to the Great Recession of the late 2000s and includes broad reforms related to many aspects of the financial and banking industry. Notable sections of the Act include stricter regulations of the derivatives market, as well as the Volcker Rule, which restricts the trading practices of FDIC-insured institutions.    less -
Goodwin

DC Court of Appeals Orders Rehearing of PHH v. CFPB

Goodwin on

On February 16, 2017, the United States Court of Appeals for the DC Circuit granted Respondent Consumer Financial Protection Bureau’s (CFPB) petition for rehearing en banc of PHH Corp. v. CFPB, No. 15-1177 (D.C. Cir.). In...more

Dorsey & Whitney LLP

DC Circuit: No Jurisdiction For Suits Re SEC Forum Selection Choice

Dorsey & Whitney LLP on

Suits challenging the SEC’s forum selection decisions continue to proliferate. As the trend has unfolded the Commission posted a memo on its website discussing the issue of forum selection and has proposed modifications to...more

McGuireWoods LLP

SEC Proposes to Amend Rules Governing Administrative Proceedings

McGuireWoods LLP on

On September 24, 2015, the Securities and Exchange Commission (SEC) issued a press release announcing proposed amendments to its Rules of Practice governing administrative proceedings. The announcement comes at a critical...more

The Volkov Law Group

Slowing Down the SEC Administrative Train

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I am convinced that the law eventually reaches the “right” solution. There may be disastrous detours along the way, but in the end the law will adapt to reach the right result. Of course, our history is replete with instances...more

K&L Gates LLP

CFPB Issues Final Decision in In Re: PHH Corp.: First Agency Decision in Contested Administrative Proceeding

K&L Gates LLP on

Earlier this month, the Consumer Financial Protection Bureau (CFPB) issued the Director’s final decision in the CFPB’s enforcement action against PHH Corp. (PPH). The decision is the agency’s first ruling in a contested...more

Carlton Fields

SEC Enforcement Defendants Descend on Georgia for Judicial Relief from the SEC’s Allegedly Unconstitutional In-House Tribunal

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It is often hot in Georgia this time of year. In one particular Georgia federal court, the U.S. Securities and Exchange Commission (SEC) has been feeling some of that heat on an issue of significant interest to subjects of...more

Parker Poe Adams & Bernstein LLP

The SEC Justifies its Home Court Advantage

Parker Poe Adams & Bernstein LLP on

In virtually every sport, playing on one’s “home court” is recognized as a distinct advantage over a visiting team as a result of playing on a familiar field and in front of rabid fans. The same is true in virtually every...more

Carlton Fields

Having it Both Ways: Does the SEC’s Enforcement Division Guidance on Forum Selection Do Anything More Than Foreshadow Increased...

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Earlier this month, the SEC’s Enforcement Division issued its “Approach to Forum Selection in Contested Actions.” This guidance comes at a time of heightened criticism regarding the SEC’s increasing reliance on administrative...more

Morrison & Foerster LLP

Administrative Proceedings vs. Federal Court: The SEC Provides Limited Transparency Into Its Choice of Forum

Morrison & Foerster LLP on

For the past two years, the SEC has come under heavy fire, both inside and outside the Commission, for its increasing use of its own administrative proceedings, rather than federal courts, as the preferred forum for bringing...more

Carlton Fields

Defendants Challenge SEC’s Increased Use of Administrative Forum

Carlton Fields on

The Dodd-Frank Act expanded the SEC’s jurisdiction to compel administrative hearings and to seek sanctions and remedies similar to those in federal court. The Commission’s recent policy of commencing more enforcement...more

Stinson - Corporate & Securities Law Blog

Court Finds SEC Administrative Proceeding Constitutional

Stinson - Corporate & Securities Law Blog on

Section 929P(a) of the Dodd-Frank Act provides that the SEC’s authority in administrative penalty proceedings is “coextensive” with its authority to seek penalties in federal court. The plaintiff in Bebo v SEC argued the...more

Skadden, Arps, Slate, Meagher & Flom LLP

"Aggressive SEC Enforcement Approach Creates New Challenges for Resolving Investigations"

Skadden, Arps, Slate, Meagher & Flom LLP on

The U.S. Securities and Exchange Commission (SEC) pursued aggressive enforcement of the securities laws in the past year. Several trends related to the SEC's vigorous approach are likely to continue in 2015....more

Burr & Forman

The SEC’s Telling Enforcement Shift

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The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 made numerous, and significant, changes to the Securities and Exchange Commission’s regulatory powers particularly with respect to regulated professionals...more

Carlton Fields

Consumer Financial Protection Bureau Attempts to Regulate Telecom

Carlton Fields on

Since it opened in 2011, the Consumer Financial Protection Bureau ("the Bureau" or "CFPB") has issued thousands of pages of regulations, mostly directed at the home mortgage industry, and aggressively exercised its authority...more

Dorsey & Whitney LLP

SEC Use of Administrative Proceedings Challenged Again

Dorsey & Whitney LLP on

The SEC was granted authority in the Dodd-Frank Act to initiate administrative proceedings against non-regulated persons. In those proceedings the full range of remedies are available – a cease-and-desist order, disgorgement,...more

Burr & Forman

SEC Announces First Settled Proceeding Against Municipal Issuer under MCDC Initiative

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The SEC announced July 8 its first settled administrative proceeding against a municipal issuer under its Municipal Continuing Disclosure Cooperation (“MCDC”) Initiative. In its Order, the SEC charged Kings Canyon Joint...more

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