Topic: Dodd-Frank Act

Has Dodd-Frank Solved “Too Big To Fail”? Depends On Whom You Ask…

Has the Dodd-Frank Act solved the “Too Big To Fail” problem? Senators Sherrod Brown and David Vitter would say it has not. After all, they recently introduced the Terminating Bailouts for Taxpayer Fairness Act, which would impose significantly higher capital reserve requirements on the country’s largest financial institutions. But not everyone shares that view. For… Read more »

SEC Approves Revisions to NASDAQ and NYSE Compensation Committee Rules

“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 »

5 Must-Reads for Corporate Leaders in the New Year

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 »

Dodd-Frank Update: CFTC Delays Swap Dealer Registration Rule

“[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 »

Dodd-Frank Q&A: Proposed New NYSE and NASDAQ Compensation Committee Rules

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 »

Repeal Dodd-Frank? But What Is It, Exactly?

“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 »

CFPB Update: Credit Reporting Agencies Now Subject to Heightened Scrutiny

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 »

SEC Pays First Whistleblower Bounty Award

“The first whistleblower award is emblematic of a broader effort under Chairman Schapiro and Enforcement Director Robert S. Khuzami to enhance enforcement efforts by altering the dynamic of the investigative process in ways that provide the enforcement staff with additional avenues of information. Individuals in possession of sensitive, confidential business documents and information belonging to… Read more »

CFTC and SEC Publish Final “Swaps” Definition; Countdown Begins for Regulatory Compliance

The Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission published the final rules defining “swap” and other swap-related terms in the Federal Register earlier this week, setting into motion a countdown to compliance for a number of CFTC regulations governing the swap market. From law firm Skadden Arps: “The effective date and… Read more »

CFPB Action Against Capital One Bank Sets Tone for Aggressive Enforcement

Earlier this month, the Consumer Financial Protection Bureau (CFPB) – the federal watchdog agency mandated by the Dodd-Frank Act to regulate consumer financial products and services – issued its first ever public enforcement action. Its target? Capital One Bank, which according to the CFPB engaged in deceptive marketing practices, pressuring consumers into purchasing credit card… Read more »

CFTC and SEC Finalize Swap Definition, Set Regulatory Reforms Into Motion

On July 7, 2012, the Commodities Futures Trading Commission (CFTC) finalized its definition of a “swap” as required by the Dodd-Frank financial reforms law, one day after the Securities and Exchange Commission approved its parallel version of the definition. For your reference, here’s a roundup of legal commentary on this latest Dodd-Frank development: CFTC-SEC Final… Read more »

Dodd-Frank Act: CFTC Adopts Final Rules for Swaps Marketplace

Tasked by the Dodd-Frank Act to reform the swaps marketplace, the Commodities Futures Trading Commission recently finalized several key rules regulating the activities of dealers and major swap participants.  For your reference, here’s a roundup of legal commentary and analysis on the new regulations: CFTC Holds First Open Meeting of 2012 and Finalizes Key Rulemakings Under… Read more »

Say-on-Pay: An Effective Voice on Executive Compensation for Shareholders?

According to a recent PricewaterhouseCoopers study, 72% of US corporate boards are willing to reconsider executive compensation if shareholders vote against “say-on-pay” resolutions, advisory votes on executive pay required by provisions of the Dodd-Frank Act. Whether or not your board includes itself in that majority, it’s clear that the say-on-pay rules are shaping the way… Read more »

Dodd-Frankly, My Dear, You Should Give A Damn…

For your reference, our latest roundup on the Dodd-Frank Act from leading lawyers and law firms on JD Supra, beginning with Morrison & Foerster’s one-year review of the Act’s impact on public companies: Dodd-Frank One Year Later: The Public Company Executive Compensation, Governance and Disclosure Provisions (Morrison & Foerster LLP): “One year ago today, President Obama signed… Read more »

Dodd-Frank Act Update: Futures Trading Regulations

The Commodity Futures Trading Commission recently issued a final order providing temporary relief from Title VII provisions of the Dodd-Frank Act. For your reference, here’s a roundup of what lawyers on JD Supra are saying about the extended deadlines and other Dodd-Frank developments:  CFTC Publishes Rule Proposals and Approves Final Rules Under Dodd-Frank (Katten Muchin… Read more »