“… the written identity theft program [must] be designed to detect, prevent and mitigate identity theft in connection with certain existing accounts or the opening of new accounts.” (Katten Muchin Rosenman) On May 20, 2013, identity theft red flag rules developed by the Securities and Exchange Commission and the Commodities Futures Trading Commission went into… Read more »
Briefcase? Check. Coffee? Check. JD Supra Corporate Brief? Check. Let the commute begin! The draft “Gang of Eight” immigration bill proposes higher limits on foreign workers in exchange for more regulation of employers (but that’s not all…) (Franczek Radelet) Should insider traders be punished for their actions, or for the profits they made through the… Read more »
“The Office of Financial Research (OFR) of the US Treasury Department … has been participating in a global effort to improve the infrastructure of the financial markets by creating a process for assigning every participant in financial transactions a … unique identification number that facilitates transactional recordkeeping and reporting for financial transactions and can also… Read more »
[Video: A New World for Mortgage Banking – What You Need to Know About the CFPB’s Final Mortgage Servicing Rules - Pepper Hamilton LLP] The Consumer Financial Protection Bureau recently issued two rules that are going to change the way mortgage service companies do business: the 2013 RESPA Servicing Final Rule, an amendment to Regulation X… Read more »
In mid-January, federal regulators published a final rule implementing new appraisal requirements for higher-priced mortgage loans. The new regulation, – authored by the Federal Reserve, the Consumer Financial Protection Bureau, the Federal Deposit Insurance Corporation, the Federal Housing Finance Agency, the National Credit Union Administration, and the Office of the Comptroller of the Currency –… Read more »
“The … requirements were added pursuant to the Dodd-Frank Act and: enhance the independence requirements for compensation committee members; specify compensation committee authority relating to compensation consultants, counsel and other advisers; and specify compensation committee responsibility to consider potential conflicts of interests when selecting compensation consultants, counsel and other advisers.” (Skadden Arps) The Securities and… Read more »
“Following the enactment of the Dodd-Frank Act, plaintiff’s firms began filing shareholder actions against executive officers, directors, and compensation consultants of companies that failed to obtain the approval of a majority of their shareholders for executive compensation proposals.” (Perkins Coie) Blame it on Dodd-Frank… One of the key provisions of the landmark financial reform legislation… Read more »
Dodd-Frank, the Foreign Corrupt Practices Act, social media in the workplace, cybersecurity, SEC regulations… all front-and-center corporate issues at the start of a new year. Your job, among many other things, is to know what to do about each of them. That’s why it helps when leading lawyers with expertise in each of these fields… Read more »
What’s on your mind? Four themes in particular, if we go by what you’ve read over the past year: Legal issues related to doing business internationally Dodd-Frank regulations and other financial reforms Intellectual property Health care, including in particular HIPAA regulations and health care reform As popular as those issues were, however, there are many… Read more »
For your reference, here’s quick roundup of analysis, commentary, and news about recent developments at the United States Commodity Futures Trading Commission (CFTC). As written by corporate lawyers on JD Supra: On Swaps: CFTC Shines Light on Swaps Market with ‘Swaps Report’ - by Shipkevich PLLC “The data contained in the report is robust, and… Read more »
“[S]wap dealers would be granted a short-term delay on a new rule that mandates the counting of swaps as a component of registration… The new rules have been the subject of controversy and presidential debate politics over the last few weeks. Republicans have accused the CFTC of ideological maneuvering and wastefulness as they pursue controversial… Read more »
Financial reform is a hot issue in this year’s presidential race (no surprise, of course) – but while the candidates duke it out on the finer points of how they would handle matters, Dodd-Frank marches on. The latest? Regulations on the independence of compensation committees at companies listed on the nation’s two largest stock exchanges.… Read more »
“MR. LEHRER: You want to repeal Dodd-Frank? MR. ROMNEY: Well, I would repeal it and replace it.” (New York Times) The Dodd–Frank Wall Street Reform and Consumer Protection Act, both criticized and praised by Republican presidential candidate Mitt Romney in last night’s inaugural presidential debate, was passed in 2010 purportedly to end the practices that… Read more »
Earlier this month, the Consumer Financial Protection Bureau issued the procedures it will use to verify that credit bureaus and other consumer reporting companies are complying with federal financial laws. It’s the latest move in the CFPB’s efforts to supervise “larger participants” in the consumer financial markets as required by the Dodd-Frank Act. According to… Read more »
[Video: SEC Tables Money Market Fund Regulation: Michael Markowitz Analysis - MarketsReformWiki] “The proposal would have been the second phase of the Chairman’s oft-stated plan that she said would reduce money market funds’ susceptibility to runs, protect retail investors, and lessen the potential need for future bailouts. In her statement, Chairman Schapiro urged other policymakers… Read more »
