Financial Reform

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.

SEC Proposes Pay-Versus-Performance Disclosure Rules

The Securities and Exchange Commission (SEC) recently issued its long-awaited proposal for "pay-versus-performance" disclosure. The proposed rules …

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

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

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 …

CFPB Releases Report Highlighting Debt Collection Complaints Among Older Americans

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

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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 …

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 …

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

<i>Bloomberg BNA Banking Report</i><p>While the recent Dodd-Frank stress test results of the nation's 30 biggest banks might seem reassuring, prudent policy …

Performance 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 …

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 …

CFPB Launches Pilot Program for Electronic Mortgage Closing Process

In conjunction with its field hearing on “key consumer ‘pain points’” (<i>see</i> April 15, 2014 <i>Alert</i>), the CFPB announced the release of a report that …

SEC Eases FINRA Corporate Financing Rule

• narrow the scope of the definition of “participation or participating in a public offering;”<br>• modify the lock-up restrictions to exclude certain …

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 …