There continues to be significant public discord amongst the Commissioners at the CFTC.
According to Commissioner Scott O’Malia “Given the vast deficit spending challenges this country is facing, I do not believe it is...more
The Federal Reserve Board has approved a final rule that establishes the requirements for determining when a company is “predominantly engaged in financial activities.” The requirements will be used by the Financial Stability...more
The SEC has granted AngelList relief on accepting transaction based compensation for crowd funding, exempting it from the broker-dealer rules. A couple days ago, the SEC granted relief to thefundersclub.com. Makes you kind...more
The Division of Market Oversight, or DMO, and Office of Data and Technology, or ODT of the CFTC have issued an advisory reminding all swap counterparties of the imminent April 10, 2013, deadline for each counterparty to...more
The CFPB has issued a final rule that establishes procedures for the public to obtain information from the Bureau of Consumer Financial Protection, under the Freedom of Information Act, the Privacy Act of 1974, and in legal...more
The NYSE and Nasdaq have recently adopted rules which will require compensation committees to consider certain enumerated factors before selecting, or receiving advice from, a compensation consultant, legal counsel or other...more
We recently gave a presentation at a CLE titled Securities Law Essentials for Growing Companies. The presentation included an overview of what constitutes a public offering, what is a security, classical private placements,...more
Nasdaq has amended its proposal regarding independence of compensation committees required by the Dodd-Frank Act. Nasdaq proposes to clarify that a compensation committee is not required to conduct the independence...more
Financial Industry Regulatory Authority, Inc., or FINRA, has filed a proposed rule change with the SEC to amend FINRA Rule 2267 (Investor Education and Protection) to require that FINRA members include a prominent...more
The Dodd-Frank Wall Street Reform and Consumer Protection Act amended the Electronic Fund Transfer Act, or EFTA, to restrict interchange fees and to prohibit exclusive networks for debit card transactions. The Federal Trade...more
GAO is required to annually study financial services regulations. GAO has issued a report that examines:
the regulatory analyses federal agencies performed for rules issued pursuant to the Dodd-Frank Act; how the...more
The SEC has released the study on credit ratings required by Section 939F of the Dodd-Frank Act. Section 939F provides that, after submission of the report to Congress containing the findings of the study, the SEC shall, by...more
Nasdaq recently amended its rule proposal related to compensation committees required by the Dodd-Frank Act. While the substance of the proposal did not change too much, the transition requirements did, and became more...more