All Rules & Proposals articles – Page 42
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Blog
Flurry of bills and proposals seek regulatory reform
With the arrival of summer, battles over the U.S. regulatory regime are heating up. Earlier his month, House Financial Services Committee Chairman Jeb Hensarling (R-Texas) unveiled a plan “to replace the Dodd-Frank Act.” It is now supplemented by a slate of “economic growth bills” approved by the Financial Services Committee ...
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BlogEU moves forward on conflict minerals framework
European Union officials have agreed on a regulatory framework regarding “conflict minerals” and the responsible sourcing of tin, tantalum, tungsten, and gold. It includes obligations for the “upstream” part of the conflict minerals supply chain, including smelters and refiners, but exempts imports of finished products. Joe Mont reports.
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Blog
FINRA announces CEO transition
The Financial Industry Regulatory Authority’s Board of Governors has concluded its CEO search, and appointed Robert Cook as president and chief executive officer, effective the second half of 2016. Cook will succeed Richard Ketchum, who has served as chairman and CEO since 2009. Joe Mont has more on the transition.
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Article
Panama Papers still a ‘gift’ that keeps on giving for compliance officers
What’s next for the infamous Panama Papers scandal? As governments around the world craft opportunity from crisis with various new rules and regulations, CCOs at financial institutions may find themselves at an inflection point. The challenge: how to leverage all that once-hidden data on shell companies? Joe Mont reports.
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ArticleNew effort to repeal, replace Dodd-Frank Act is most ambitious yet
One of the most vigorous assaults yet on the Dodd-Frank Act came on June 7 from House Financial Services Committee Chairman Jeb Hensarling (R-Texas). Joe Mont looks at the implications of Hensraling’s Financial CHOICE Act, his plan “to replace the Dodd-Frank Act and promote economic growth.”
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Blog
Deadline extended for foreign bank resolution plans
The Federal Reserve Board and the Federal Deposit Insurance Corporation have granted four foreign banking organizations additional time to submit their next resolution plans. Previously, Barclays, Credit Suisse Group, Deutsche Bank AG, and UBS were required to submit their next plans on July 1, 2016, a deadline now bumped up ...
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Blog
SEC adopts rules for efficiency of securities-based swaps
The Securities and Exchange Commission has adopted new rules that establish “timely and accurate” trade acknowledgment and verification requirements for security-based swap entities and their transactions. The rules are designed “to promote the efficient and effective operation of the SBS market.” Joe Mont reports.
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Article
Q&A: How financial institutions can help uncover human trafficking
Human trafficking is an enormous problem that, in addition to the human toll, generates $38 billion per year in revenue for criminals. Joe Mont spoke to Micah Willbrand, anti-money laundering and financial crimes expert with NICE Actimize, about the financial patterns that can uncover human trafficking activity and what role ...
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Article
Fed proposes more ‘bank-like’ capital & risk standards for insurance companies
Insurance companies are increasingly targeted with bank-like regulation and oversight. The latest development: proposals by the Federal Reserve’s Board of Governors for new capital and risk management standards for systemically important insurance companies and those that own a bank or thrift. Joe Mont reports.
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Blog
CFPB proposes slate of payday loan rules
A rule proposed on June 2 by the Consumer Financial Protection Bureau includes its toughest attack yet on payday and title loans. Proposed requirements include a “full-payment” test requiring lenders to determine upfront that consumers can afford to repay what they borrow. Joe Mont has more.
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BlogLawsuit challenges legality of Labor Dept. fiduciary rule
A coalition of business groups is suing to strike down the Department of Labor’s recent “fiduciary duty” rule, calling it “over-reaching” with an end result that “will restrict hardworking Americans’ access to retirement advice and planning services.” Joe Mont provides details on the suit being brought by the U.S. Chamber ...
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Blog
SEC’s 10-K amendment clarifies use of summary statements
The SEC has approved an interim final rule that clarifies how Form 10-K filers may provide a summary of business and financial information contained in the annual report. It implements a provision of the Fixing America’s Surface Transportation (FAST) Act. Joe Mont provides an in-depth look at the rule.
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Article
Discussing the many facets of disclosure effectiveness
The SEC is seeking comment on nearly 350 questions regarding the Commission’s Regulation S-K effectiveness review. At last week’s Compliance Week conference, Karen Garnett of the Division of Corporate Finance headlined a panel discussion on the process thus far. Joe Mont has more.
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Blog
States propose crowdfunding filings
With an SEC rule enabling equity crowdfunding now in effect, and portals to facilitate that process under review, the North American Securities Administrators Association has announced a proposed model rule and uniform notice filing form for federal crowdfunding offerings. Joe Mont reports.
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ArticleCompanies now have federal remedy to protect trade secrets
Passage this month of the Defend Trade Secrets Act creates for the first time a federal civil cause of action for misappropriation of trade secrets, giving U.S. companies a wide range of remedies—but its new whistleblower protections also call for new reporting obligations. Jaclyn Jaeger explores.
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Article
Former FTC Commissioner Brill on data security, privacy protections
Joe Mont speaks to Julie Brill, who for the past six years was among the FTC’s most influential commissioners and an important voice on internet privacy and data security issues. In April, she left public service to join the law firm Hogan Lovells as a partner and co-director of its ...
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Article
Shedding light on the challenges of policy management
A study by NAVEX Global solicited the thoughts of nearly 1,000 executives on policy management and the systems they have in place for that process. Keeping policies current with continuously evolving laws and regulations was identified as a top challenge. Joe Mont takes an in-depth look at the results.
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Blog
FTC adjusts franchise rule’s monetary thresholds
The Federal Trade Commission is adjusting three monetary exemption thresholds in its Franchise Rule. The thresholds are used to determine whether the sale of a franchise qualifies for an exemption from the rule, which requires franchisors to disclose key information prospective buyers need to evaluate the risks and benefits of ...
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Article
Regulators walk a tightrope when it comes to innovation, disruption
It was once an understood fact of life that regulators are reactive, not proactive, when it comes to rulemaking and industry standards. Now, with disruptive technology and sharing services evolving from quaint ideas to multi-billion- dollar enterprises, some are starting to shake off that reputation, albeit cautiously. Joe Mont has ...
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Blog
New OSHA rule expands injury reports, creates public database
The U.S. Department of Labor's Occupational Safety and Health Administration has issued a final rule intended to modernize injury data collection and create “the largest publicly available data set” on work injuries and illnesses. Joe Mont reports.