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.

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, No. 14-cv-523, ruled that an employee who complains internally about …

Whistleblowers

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

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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 …

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?

Bloomberg BNA Banking Report

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

CFTC Hands Out First Whistleblower Award

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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’” (see April 15, 2014 Alert), the CFPB announced the release of a report that …

SEC Eases FINRA Corporate Financing Rule

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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 …

Orrick's Financial Industry Week in Review

Financial Industry Developments

SEC Proposed Rule on Security-Based Swaps

On April 17, the SEC issued a proposed rule on recordkeeping, reporting and

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 …

FINRA Proposes to Amend Rules 2210 and 2214

The Financial Industry Regulatory Authority filed proposed rule changes with the Securities and Exchange Commission to amend FINRA Rules 2210 and …

Financial Regulation

Federal Court: California Finance Lenders Law Does Not Prohibit a Licensee from Selling Loans to Non-Institutional Investors

The U.S. District Court for the Northern District of California has held that Section 22340(a) of the California Financial Code does not restrict …

Loans

"Treasury and IRS Release FATCA Regulations"

New Regulations Address Some Concerns and Coordinate FATCA Rules with Other Reporting and Withholding Rules

On February 20, 2014, the Department of …

FATCA regulations updated but deadlines loom

The US Department of the Treasury and the Internal Revenue Service have released what they refer to as the “last substantial package of regulations” …

Internal Revenue Service

BVI concludes negotiations with US on FATCA

The British Virgin Islands Government has today announced the conclusion of negotiations with the United States on a Model 1 Intergovernmental …

Financial Institutions

OCC, FRB and FDIC Issue Joint Stress Test Guidance for Medium-Sized Banking Firms

The OCC, FRB and FDIC (collectively, the “Agencies”) issued joint final guidance (the “Final Guidance”) concerning the Agencies’ key supervisory …

Banking

FINRA Requests Comment on Proposed Rule Set for Limited Corporate Financing Brokers

The Financial Industry Regulatory Authority has requested comments on a proposed rule set for limited corporate financing brokers (LCFBs). LCFBs are …

Financing