Financial Reform on Flipboard

By JD Supra Business Advisor | A magazine on regulation and reform for financial services and banking industry insiders. Covering Dodd-Frank and more. Updated daily.

SDNY Follows Asadi: Internal Tipsters Not Dodd-Frank “Whistleblowers”

On December 5, 2014, the Southern District of New York in Berman v. Neo@Ogilvy, No. 14-cv-523, ruled that an employee who complains internally about …

Dodd-Frank Act

New York, Zombie Debt and the CFPB

Earlier this month, New York adopted enhanced consumer debt collection regulations proposed by the New York State Department of Financial Services …

Zombies

CFPB Releases Report Highlighting Debt Collection Complaints Among Older Americans

On November 5, the CFPB announced the release of a report highlighting debt collection issues among older Americans. The report analyzed nearly 8,700 …

Debt Collection

Final Volcker Rule Places More Emphasis on Compliance Programs

Following over two years of comment and debate, the final Volcker Rule officially went into effect on April 1, 2014. While most banks have until July …

Volcker Rule

SEC Proposed Rules: Recordkeeping and Reporting for SBSDs, MSBSPs and BDs; Capital Rules for Certain SBSDs

The SEC has proposed recordkeeping and reporting rules and capital charges for security-based swap dealers based on the current broker-dealer …

Dodd-Frank Act

Second Circuit Says Wall Street Can Play “Truth or Settle”

On June 4, 2014, a three-judge Second Circuit panel reversed and remanded Judge Rakoff’s 2011 order that rejected an S.E.C. settlement with …

Wall Street

Do Dodd-Frank's Stress Testing Results Hold Hidden Risks?

While the recent Dodd-Frank stress test results of the nation's 30 biggest banks might seem reassuring, prudent policy makers and practitioners …

Stress Testing

CFTC Hands Out First Whistleblower Award

The Commodity Futures Trading Commission has announced the first award under its whistleblower program. The CFTC will pay an anonymous recipient …

Whistleblowers

Financial Regulatory Enforcers Expanding Claims Against Individuals

In the wake of the financial crisis, federal and state regulators are increasingly taking action against individuals for alleged compliance lapses …

Compliance

CFPB Launches Pilot Program for Electronic Mortgage Closing Process

In conjunction with its field hearing on “key consumer ‘pain points’” the CFPB announced the release of a report that discusses consumer and lender …

Mortgages

SEC Eases FINRA Corporate Financing Rule

The SEC has approved changes to FINRA Rule 5110, which among other things - - narrow the scope of the definition of “participation or participating …

Dodd-Frank Act

SEC Staff Addresses Third-Party Endorsements of Investment Advisers on Social Media Websites

On March 28, 2014, the Division of Investment Management of the Securities and Exchange Commission (“SEC”) published an IM Guidance Update that …

Social Media

Orrick's Financial Industry Week in Review

European Banking Authority Publishes Opinion on European Commission's Proposed Amendments to ITS - On April 16, the European Banking Authority (EBA) …

Financial Industry

What’s Driving the Strong U.S. IPO Market? A Look at the JOBS Act at Its Second Anniversary In Light of the Increased IPO Volume

The Jumpstart Our Business Startups Act (the “JOBS Act”), designed to stimulate IPO activity in the U.S. is celebrating its second anniversary this …

Markets

FINRA Proposes to Amend Rules 2210 and 2214

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DISCLAIMER: Because of the generality of this update, the information provided herein …

Cybersecurity