Sunday, December 21, 2014

BNA INSIGHTS: Top Ten SEC Enforcement Developments of 2010

This article highlights significant developments during 2010 in the enforcement program of the U.S. Securities and Exchange Commission (“SEC”). Developments were selected because they may signal future trends or establish new legal standards…

Treasury Lays Out Options to Overhaul Housing Finance System, Unwind Government-Sponsored Enterprises

February 16, 2011 in Banking Report · Leave a Comment 

The Treasury Department released a set of housing policy options Feb. 11 that would slowly dissolve government-sponsored housing finance enterprises (GSE) Fannie Mae and Freddie Mac and transition to a much smaller and explicit federal guarantee role for the mortgage market…

Federal Reserve Proposes $50 Billion Asset Threshold to Gauge ‘Significant’ Banking, Corporate Ties

February 16, 2011 in Banking Report · Leave a Comment 

The Federal Reserve Board Feb. 8 proposed a $50 billion asset threshold to mark “significant” banking and corporate relationships that a new federal risk council will examine when it analyzes potential threats to U.S. financial stability…

Senate Judiciary Committee Unanimously Approves Patent Reform Act of 2011

The Senate Judiciary Committee approved by a 15-0 vote Feb. 3 a new patent reform bill, S. 23, after agreeing to Chairman Patrick J. Leahy’s (D-Vt.) manager’s amendment and an amendment that effectively abandons the committee’s attempt to codify jurisprudence on willful patent infringement…

BNA INSIGHTS: Cost of Compliance with Privacy and Data Protection Laws: Benchmark Study of Multinational Organizations

Multinational organizations in all industries must comply with privacy and data protection laws, regulations and policies designed to protect individuals’ sensitive and confidential information. The average cost of compliance for organizations studied was $3.5 million, while the cost of not being in compliance was much greater: nearly $9.4 million…

SEC Proposes New Rules to Implement Requirements for Swap Execution Facilities

The SEC, taking another step in its derivatives rulemaking, Feb. 2 unanimously proposed new rules that would help define, and establish registration procedures for, new regulated trading platforms for security-based swaps known as security-based swap execution facilities…

SEC Scores Major Win in Dispute over Wiretaps in Hedge Fund Insider Case

In a major coup for the Securities and Exchange Commission, the U.S. District Court for the Southern District of New York Feb. 1 ordered Galleon Management LP principal Raj Rajaratnam to provide the agency with wiretap evidence obtained by prosecutors in a related criminal case for use in its civil insider trading action (SEC v. Galleon Management LP, S.D.N.Y…

FDIC Opens Dodd-Frank Rulemaking on Pay Limits, Shifts Assessment Burden to Largest Banks

February 10, 2011 in BNA's Banking Report · Leave a Comment 

The FDIC Feb. 7 became the first of seven federal agencies to approve a proposed rule to implement Dodd-Frank Section 956 that prohibits incentive based compensation arrangements that encourage inappropriate risk taking by covered financial institutions, and are deemed to be excessive or that may lead to material losses…

BNA INSIGHTS: Calls to Extend Deadline for Completion of Dodd-Frank Rulemakings Raise Serious Issues

When Shakespeare wrote “Summer’s lease hath all too short a date,” he wasn’t clairvoyantly anticipating the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”), but the derivatives industry might think he has a point when the subject is the summer of 2011…

SEC Proposes to Require Systemic Risk Reports from Certain Private Fund Advisers

The Securities and Exchange Commission Jan. 25 unanimously proposed to require certain private fund advisers to report information that ultimately would be shared with the Financial Stability Oversight Council to monitor systemic risk…

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