All articles by Joe Mont – Page 23
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Blog
SEC pitches changes to liquidity risk disclosures
The SEC is looking to amend liquidity-related disclosure requirements for certain open-end investment management companies. Under the proposal, funds would discuss, in their annual report, the effectiveness of their program.
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Theranos executives charged by SEC for 'massive fraud'
The SEC has charged Theranos founder and CEO Elizabeth Holmes, and its former President Ramesh “Sunny” Balwani, with raising more than $700 million from investors “through an elaborate, years-long fraud.”
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Post-breach, Equifax remains in a harsh spotlight
For a company embroiled in one of the nation’s largest data breaches, things have been relatively quiet in recent weeks on the Equifax front. That has changed with an insider trading charge, and inclusion in controversial Senate legislation.
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Senators urge NLRB to advance McDonald’s joint-employer case
Sen. Elizabeth Warren (D-Mass.) is leading a group of five senators who wrote to Peter Robb, general counsel of the National Labor Relations Board, requesting that he allow the trial in the McDonald’s joint-employer case to proceed so that a judge may rule on the fast food giant’s liability.
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Senators seek ties between Kushner loans, Citigroup, and Apollo Global Management
A team of senators and representatives is quizzing Citigroup and Apollo Global Management on reports that the companies provided more than $500 million in loans to the businesses of senior advisor to the president Jared Kushner.
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Bill seeks to save kids from identity theft
The Senate has advanced the Protecting Children from Identity Theft Act, bipartisan legislation that would augment the ability of financial institutions to prevent synthetic identity fraud, a scam involving stolen Social Security account numbers.
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Clearing House Association, Financial Services Roundtable combine forces
The Financial Services Roundtable and The Clearing House have announced plans to merge their non-partisan advocacy and research arms.
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ArticleSenate’s latest Dodd-Frank reforms get a bipartisan push, but divide Democrats
Bipartisan Senate legislation looks to scale back Dodd-Frank regulations on smaller banks, but critics contend that a rules rollback would benefit big banks more than anyone.
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Broadcom’s takeover of Qualcomm gets complicated
A government agency has forced a delay to a shareholder meeting that would have set the stage for a hostile takeover of the company at the heart of smartphone technology.
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Top issues at shareholder meetings include global trade, misconduct
Executive misconduct, cyber-breaches, global trade concerns, demands for transparency, and historic changes brought about by the new tax law are among the topics being discussed in corporate board rooms, according to a new report by BDO USA.
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NYSE to pay $14M for regulatory failures, violation of Reg SCI
The SEC has charged the New York Stock Exchange and two affiliated exchanges with regulatory failures in connection with several disruptive market events. The charges include include the first-ever charged violation of Regulation SCI.
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Voya advisers settle SEC charges they failed to disclose securities lending conflict
The SEC has charged investment adviser subsidiaries of Voya Holdings with failing to disclose conflicts of interest. They were also acused of misleading disclosures in connection with their practice of recalling securities on loan so affiliates could receive tax benefits.
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A mixed assessment of steel, aluminum tariff plan
President Trump’s plan to impose tariffs on imports of steel and aluminum is drawing a wide range of domestic reactions, from joy to outrage, and skepticism that global surcharges could spark a trade war without truly targeting the problem of Chinese over-production.
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Fearing cooking oil monopoly, FTC torches Smucker/Wesson deal
Under pressure from the Federal Trade Commission, J.M. Smucker Co. has decided to drop its proposed acquisition of Wesson cooking oil from Conagra Brands.
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Volcker rule reforms afoot at Federal Reserve
The Federal Reserve is “considering broad revisions to the Volcker rule compliance regime,” in addition to changes to make the rule easier to understand and less burdensome, says Vice Chairman for Supervision Randal Quarles.
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Labor Dept. encourages self-reporting of wage violations
The Wage and Hour Division of the U.S. Department of Labor has announced a new initiative intended to encourage self-reporting of wage and hour violations.
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Big banks want nationwide breach standards
the Financial Services Roundtable, a trade group for the nation’s largest banks, is calling upon Congress to “enact a strong set of national data security standards” in efforts to better protect consumers and sensitive financial information.
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Article
SEC keeps options open for mandatory shareholder arbitration
SEC Chairman Jay Clayton has floated the idea of mandatory shareholder arbitration, raising issues about agency enforcement and investor protection.
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ArticleCryptocurrencies give rise to a new kind of hacking threat
Recent price spikes of virtual currencies have inspired a new breed of hackers who don’t want your data—just your processing power.
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CFPB launches public review of complaint database
Continuing a top-down reassessment of operations and policies, the CFPB has settled on its next review target: its controversial complaint database.