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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2023-01-25T20:18:00
The Securities and Exchange Commission (SEC) resurrected an unfulfilled mandate of the Dodd-Frank Act that would prevent the sale of certain securities if there is a conflict of interest.
The proposed rule, revisited for the first time after initially being put forward in 2011, would prohibit securitization participants like underwriters, placement agents, initial purchasers, or sponsors of an asset-backed security, as well as their affiliates and subsidiaries, from engaging in any transaction that would involve or result in a material conflict of interest between the securitization participant and an investor in such an ABS.
“Prohibited transactions would include, for example, a short sale of the ABS or the purchase of a credit default swap or other credit derivative that entitles the securitization participant to receive payments upon the occurrence of specified credit events in respect of the ABS,” the SEC said in a fact sheet accompanying Wednesday’s proposal.
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News and analysis for the well-informed compliance or audit exec.
Annual Membership best value
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2023-10-16T14:14:00Z By Kyle Brasseur
The Securities and Exchange Commission continued its push to get across the finish line the remaining provisions of the Dodd-Frank Act with the adoption of a new rule for institutional investment managers to provide greater transparency regarding short sale data.
2023-06-07T18:22:00Z By Kyle Brasseur
The Securities and Exchange Commission adopted two rules aimed at curbing potential misconduct in the security-based swaps market.
2023-02-08T21:13:00Z By Aaron Nicodemus
The Securities and Exchange Commission’s 2023 examination priorities report laid out areas under the microscope this year, including compliance with the agency’s Marketing Rule and Regulation Best Interest.
2024-07-02T19:43:00Z By Aaron Nicodemus
The U.S. Supreme Court extended the statute of limitations for businesses attempting to challenge some federal regulations, allowing regulated entities a longer timeline to appeal a decision.
2024-06-28T19:55:00Z By Aaron Nicodemus
The Supreme Court of the United States overturned a long-held precedent in which courts deferred to federal agencies in interpreting complex or ambiguous regulations–a decision that could make thousands of federal regulations more vulnerable to legal challenges.
2024-06-28T17:00:00Z By Aaron Nicodemus
Financial institutions would be required to conduct more thorough risk assessments on their anti-money laundering/countering the financing of terrorism programs under a new rule proposed by the Treasury Department’s Financial Crimes Enforcement Network.
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