News & Analysis as of

Dodd-Frank Wall Street Reform and Consumer Protection Act › Policies and Procedures

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 -
Hogan Lovells

SEC grants no action relief from paragraph (a)(3)(iii) of Rule 192

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The Securities and Exchange Commission has issued a no-action relief letter regarding paragraph (a)(3)(iii) of Rule 192 under the Securities Act of 1933, as amended. Rule 192, finalized in January 2024, implements Section 621...more

Freiberger Haber LLP

Enforcement News: SEC Charges Investment Advisor With Violating Whistleblower Protection Rule

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We have often written about the SEC’s whistleblower program and, in particular, the success of the program with respect to detecting and preventing violations of the federal securities laws. The success of the program...more

Sheppard Mullin Richter & Hampton LLP

Stock Exchange Deadline Approaches for Adopting SEC Compliant Clawback Policy

Sheppard Mullin Richter & Hampton LLP on

With the Labor Day holiday now in the rear view mirror, we wanted to remind companies whose shares are listed on the NYSE/Nasdaq stock exchanges that the deadline for implementing a so-called “Clawback Policy” is fast...more

Troutman Pepper Locke

CFPB's Policy Statement on Abusiveness (Part 1) - The Consumer Finance Podcast

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Please join Troutman Pepper Partner Chris Willis and his colleagues Alan Wingfield, James Kim, and Taylor Gess for the first installment of a special two-part series about the Consumer Financial Protection Bureau's (CFPB)...more

Morrison & Foerster LLP

Finally! CFPB Issues Final Small Business Data Collection Rule

Morrison & Foerster LLP on

On March 30, 2023, the Consumer Financial Protection Bureau (“CFPB” or “Bureau”) issued its long-awaited small business lending data collection final rule (“Final Rule”). The Final Rule implements Section 1071 of the...more

BCLP

SEC penalizes company with good disclosures for insufficient controls

BCLP on

What happened? In a recent settlement order, the SEC charged Activision Blizzard with failing to maintain adequate disclosure controls and procedures. Notably, the SEC did not claim that the company’s SEC filings were...more

Goodwin

SEC Proposes Changes to Private Fund Regulation

Goodwin on

In This Issue. The U.S. Securities and Exchange Commission (SEC) proposed changes to private fund regulation; the Office of the Comptroller of the Currency (OCC) succeeded in validating its “valid-when-made” rulemaking; the...more

Sheppard Mullin Richter & Hampton LLP

CFPB to Resume Examinations Under the Military Lending Act

Sheppard Mullin Richter & Hampton LLP on

On June 16, the CFPB issued an interpretive rule reversing its prior determination that it lacked authority to examine institutions for compliance with the Military Lending Act (MLA). In 2018, the CFPB discontinued checking...more

Vinson & Elkins LLP

Rate Expectations: SEC Charges Credit Ratings Agency For Undisclosed Adjustments to Ratings

Vinson & Elkins LLP on

On February 16, 2021, the Securities and Exchange Commission (“SEC”) filed a civil complaint against Morningstar Credit Ratings LLC (“Morningstar”), a credit rating agency, alleging violations of the disclosure and internal...more

Ballard Spahr LLP

FTC Seeks Comments On Proposed Changes To FCRA Rules

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The FTC has issued five notices of proposed rulemaking seeking comments on changes to five rules that implement the Fair Credit Reporting Act.  Comments will be due no later than 75 days after the date the NPRMs are published...more

Jones Day

A New Frontier for Whistleblowers: The Model Whistleblower Award and Protection Act for the States

Jones Day on

New efforts by states to incentivize whistleblowers financially underscore the importance of comprehensive corporate compliance programs that effectively address all internal reports of potential misconduct that may...more

Proskauer - Whistleblower Defense

ARB Rules That Complaints about Theoretical Violations are not Protected Whistleblowing Activity under Dodd-Frank

Proskauer - Whistleblower Defense on

On June 18, 2020, the U.S. Department of Labor Administrative Review Board (“ARB”) held that a complaint about a theoretical violation of the Dodd-Frank Wall Street Reform and Consumer Financial Protection Act of 2010...more

Jones Day

SEC Announces Five Whistleblower Awards Totaling $54 Million Since April 1, 2020

Jones Day on

The Situation: The Securities and Exchange Commission ("SEC") has announced a string of substantial whistleblower awards totaling $54 million since April 1, 2020. The Result: The financial incentives for employees or third...more

Troutman Pepper Locke

New Scrutiny for Hedging Policies

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New SEC disclosure rules regarding hedging are now in effect. As a technical matter, these rules do not require a publicly traded company to implement a hedging policy. They merely require a company to disclose information...more

A&O Shearman

Hot Topics: Dodd-Frank Act Hedging Policy Disclosures Begin

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Although final rules were published in December of 2018, July 1st marked the date that issuers (other than smaller reporting companies and emerging growth companies) must begin complying with the Dodd-Frank Act’s hedging...more

Orrick - Finance 20/20

OCC Extends Dodd-Frank Act Stress Test Requirements Through November 25

Orrick - Finance 20/20 on

The Office of the Comptroller of the Currency (OCC) announced that the deadline to comply with Dodd-Frank Act Stress Test (DFAST) requirements will be extended to November 25, and thereafter will be discontinued. ...more

White and Williams LLP

SEC Adopts New Hedging Disclosure Rules

White and Williams LLP on

On December 18, 2018, the Securities and Exchange Commission (SEC) announced that it had approved and adopted final rules requiring public companies to disclose, in proxy or information statements for election of directors,...more

Harris Beach Murtha PLLC

New SEC Rules Will Require Disclosure of Hedging Policies

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The Securities and Exchange Commission (SEC) has adopted new rules that will require public companies to disclose their hedging practices and policies for employees, officers and directors in proxy and information statements...more

Bracewell LLP

SEC Adopts Final Rules for Disclosure of Hedging Policies

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The Securities and Exchange Commission recently approved final rules to require disclosure of hedging practices, implementing a Dodd-Frank Act mandate. New Item 407(i) of Regulation S-K requires a company to describe in its...more

Fenwick & West LLP

SEC Adopts New Hedging Disclosure Requirement

Fenwick & West LLP on

In an effort to provide greater transparency to stockholders regarding employee and director incentives, the U.S. Securities and Exchange Commission (SEC) has adopted a final rule implementing a provision of the Dodd-Frank...more

Ballard Spahr LLP

Longstanding BCFP Tactic in Jeopardy After Two Circuits Strike Down CIDs

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The BCPB has historically taken the position that it can use investigations to conduct compliance “sweeps” of entire industries. Indeed, a version of the BCFP’s Enforcement Policies and Procedures Manual made available to the...more

Ballard Spahr LLP

OIG issues report on CFPB contract award controls; updated work plan includes evaluation of CFPB’s supervisory corrective action...

Ballard Spahr LLP on

The Office of Inspector General for the Fed and CFPB recently issued an audit report entitled “The CFPB Can Strengthen Contract Award Controls and Administrative Processes.” The objective of the OIG’s audit was to assess the...more

Cadwalader, Wickersham & Taft LLP

The Trump Administration: Potential Levers of Regulatory Change Affecting the Commodities Markets

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Much has happened since the election of Donald J. Trump as the 45th President of the United States and the return of both houses of Congress to Republican control. The Trump transition team has repeatedly declared its...more

Sheppard Mullin Richter & Hampton LLP

Most Recent CFPB Supervisory Highlights Feature FCRA, LO Compensation and Debt Collection Issues

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The Consumer Financial Protection Bureau’s most recent supervisory highlights publication featured issues relating to the Fair Credit Reporting Act, loan originator compensation and in-person debt collection that should be on...more

Proskauer - The Capital Commitment

SEC Whistleblower Enforcement Settlement Reminds Private Fund Sponsors to Review Organizational Policies and Procedures for...

Proskauer - The Capital Commitment on

A recent SEC settlement of whistleblower charges should serve as a useful reminder for private fund sponsors to conduct a comprehensive review of their policies and procedures. On August 10, 2016, the SEC announced that...more

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