It is not the first whistleblower award under the Dodd Frank Act’s whistleblower bounty program but the “more than $14 million” award to an anonymous whistleblower that the SEC announced on October 1, 2013 is by far the largest so far... Read More
by Elana Hahn, Kenneth Kohler, Nimesh Christie and Melissa Beck This EIA is a guide to the principal EU and US securitization regulatory developments and the challenges and prospects for transatlantic securitization issuers and investors. Excerpt... Read More
The Dodd-Frank Wall Street Reform and Consumer Protection Act is a sprawling piece of legislation. It is also very much a work in progress, requiring hundreds of new rules to be written and dozens of studies. The burden imposed on the SEC is considerable... Read More
Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act, H.R. 4173, 111th Cong. (2010) (the "Dodd-Frank Act" or the "Act"), titled "Orderly Liquidation Authority," creates a new federal receivership process... Read More
Although nearly everyone - including the five SEC commissioners - agrees that corporate whistleblowers are the best source for detecting corporate fraud, there is trepidation about the proposed whistleblower bounty program under the Dodd-Frank Act... Read More
by Robert J. Pile, Jennifer D. Lambert, and Heather J. Howdeshell Third-party service providers to financial institutions have often taken the position that they are not "financial institutions" for purposes of federal law and thus are typically... Read More
by Fred Bellamy, Jamie Cain, Tom Gick, Steve Roth, and Ann Battle In addition to requiring the Commodity Futures Trading Commission (the CFTC) and the Securities and Exchange Commission (the SEC) to promulgate rules further defining the terms "swap"... Read More
Dodd-Frank added Exchange Act Section 21F(g)(5) and requires that SEC's Office of the Whistleblower to report to Congress annually on the whistleblower program. It's due each October 30. I'm sure the SEC wanted to be in compliance, so they... Read More
In the week ending with "April Fools Day," the Commission continued to issue proposed regulations to implement the Dodd-Frank Wall Street and Consumer Protection Act. SEC Enforcement focused on investment fund fraud actions, filing or resolving... Read More
Financial reform and the implementing Dodd-Frank continue to be key topics for market regulators. The SEC, CFTC and others are busy writing rules to implement the Act. Many on Capital Hill are studying ways to limits or repeal portions of the landmark... Read More
The Securities and Exchange Commission proposed a new rule that would require advisers to private funds to report information for use by the Financial Stability Oversight Council in monitoring risk to the U.S. financial system. Sections 404 and 406... Read More
The focus of SEC enforcement in the coming months is a function of its constricted and later expanded authority. Last year that authority contracted in the wake of the Supreme Court's decision in Morrison v. National Australia Bank Ltd. , 130 S... Read More
Previously, I summarized the Securities and Exchange Commission’s implementing regulations of Title II of the JOBS Act , lifting the ban on general solicitation for offerings exempt under Rule 506 of Regulation D, which were finalized on July 10... Read More
Dodd-Frank significantly added to the weapons available to the SEC. New provisions extended its authority to bring actions based on aiding and abetting while lowering the proof requirements to recklessness. Collateral bars were added and a provision... Read More
by Gary Larkin As you all may well know by now, the SEC has adopted its final rules to create a whistleblower bounty program as part of the Dodd-Frank Act by a familiar 3-2 split vote. The rules, which go into effect 60 days after they are submitted... Read More