The SEC announced yesterday that it will be holding an
open meeting on June 22, 2011, evidently to discuss new proposed
changes to the new Advisers Act rules pending under Dodd Frank. For fund
managers concerned about becoming subjected to Advisers Act registration once
Dodd-Frank becomes effective...
Contingency Planning in the Absence of a
memorandum first explains the July 16, 2011 problem that will arise because the
Dodd-Frank derivatives legislation (Title VII of the statute) goes into effect
without either a ready regulatory plan or an operating market structure....
Finally, the SEC is going to take some action today on
the regulation of investment advisers, venture capital funds, and private fund
For years, they've been trying to get regulatory control
of private funds. Now they are going to get it.
Do they really want it?
by: Edmund D. Harllee
On Monday, June 20, 2011, the Board of Governors of the Federal Reserve System
(the "Board") issued final rules modifying the Official Staff Commentary to its
Regulation Z (Truth In Lending) and Regulation M (Consumer Leasing) to
implement certain of the requirements...
The Dodd-Frank Wall Street Reform and Consumer Protection
Act represents the most comprehensive financial regulatory reform measures
taken since the great depression. So, one year after enactment, what do we
By the time you read this, we will have commemorated the
first anniversary of the passage...
by Edmund D. Harllee
Section 627 of the Dodd-Frank Wall Street Reform and Consumer Protection Act
repeals the prohibition against the payment of interest on demand deposits,
effective July 21, 2011.
On Thursday, July 14, 2011, the Federal Deposit Insurance Corporation (the
by Kay Gordon and Joshua M. O'Melia
On May 10, 2011, as required by
Section 418 of the Dodd-Frank Wall Street Reform and Consumer Protection Act
(the "Dodd-Frank Act"), the U.S. Securities and Exchange Commission
(the "SEC") proposed to amend Rule...
The SEC has now finalized the rules implementing
the Investment Advisers Act of 1940 (the " Advisers Act ") changes,
which had been issued in proposed form near the end of 2010 following
passage of the Dodd-Frank Act earlier that summer. These rules went
into effect July 21, 2011. Fund...
By: Veronica Johnson
In the aftermath of the financial collapse of 2008, Congress enacted
the Dodd-Frank Wall Street Reform and Consumer Protection Act (the
"Act"). The Act is potentially the largest overhaul of financial
regulation since the Great Depression, though many provisions must...
This is the first post in a series exploring
the recent SEC regulations which define the term "venture capital fund" for the
purposes of determining whether a fund's manager is exempt from SEC
registration requirements under Dodd-Frank.
The Dodd-Frank Act excluded from its registration...
36 Iowa J. Corp. L. 869, Summer 2011
Author: Brent J. Horton
In 2008 the housing bubble burst, and those financial companies that invested
in mortgage-backed securities (MBS) faced insolvency as their MBS became
worthless. Secretary of the Treasury Henry Paulson recalls...
by Edmund D. Harllee
Tuesday, November 1, 2011, the Board of Governors of the Federal Reserve System
(the "Board") and the Federal Deposit Insurance Corporation (the "FDIC") each
issued a final rule to implement the requirement, under Section 165(d) of the
Dodd-Frank Wall Street...
Shortly before year-end, the Federal Reserve Board
("FRB") proposed several rules to manage systemic risks presented by bank
holding companies with consolidated assets of $50 billion or more and by
nonbank financial institutions that are designated as systemically important by
You would expect that a publication with a libertarian
tilt like The Economist would not look favorably at the Dodd-Frank
Wall Street Reform and Consumer Protection Act . They call it Too big not to fail . Being The
Economist , the article argues with the facts on its side.
Identity theft is a serious problem. Title X of the
Dodd-Frank Wall Street Reform and Consumer Protection Act increased the scope
of firms that would be subject to federal regulatory requirements on identity
theft rules. The Securities Exchange Commission and the Commodities Futures
The regulatory focus on hedge funds continued during the
first quarter of 2012, as new initiatives continued to roll out, and milestones
in the implementation of rules put on the books last year were hit.
For "large" hedge funds, we see the summer deadline for
filing the Form PF looming...
In the wake of the financial crisis, mortgage-related
reforms enacted as part of the Dodd-Frank Act or established under the Basel
capital process have created four different classes of residential mortgage
loans that are entitled to some kind of favorable treatment. These classes are
On April 3, the Federal Reserve Board ("Board") published
a final rule ("Rule") specifying when a financial company that may be made
subject to systemic regulation under Title I of the Dodd-Frank Wall Street
Accountability and Consumer Protection Act ("Dodd-Frank Act"...
Please click on the Attachment: link at the top of the post to view or download the entire article.
If Aesop were still in the fable-writing business, and he had been watching the last three years of Dodd-Frank Act rulemaking, we would probably be reading the Snail and the Tortoise to our kids. In...
by Valerie L. Hletko and Sarah E. Hager
A centerpiece of CFPB supervision is service provider oversight but assigning roles is not always straightforward. A lack of clarity may lead to duplicative, simultaneous oversight. While there is substantial guidance as to the what in service provider oversight...
WASHINGTON, D.C. — (Mealey’s) The whistle-blower protection provision of the Sarbanes-Oxley Act protects both contractors and subcontractors working for private companies employed by public companies, the attorney representing two workers told the U.S. Supreme Court in oral arguments Nov...
In the 1970s, the expression “future shock” made its way into common use. It started, of course, with Alvin Toffler’s hugely successful book with that phrase as its title. Like others, Toffler had observed the overwhelming effects on post-industrial societies that were experiencing...
by Andrew L. Weil , Alexander G. Fraser , and Bradley E. Phipps
The Dodd-Frank Act – signed by President Barack Obama more than three years ago, and since then advanced with a host of rules and regulations – has been widely viewed as a law that addresses systemic risk in the financial...
Five federal regulatory agencies — the SEC, CFTC, the Board of Governors of the Federal Reserve System, the Office of the Comptroller and the FDIC — implemented the 900 plus page Volcker Rule. Many consider the Volcker Rule to be the center piece of the Dodd-Frank Wall Street Reform Act....
by Edmund "Ed" D. Harllee & Alan B. Clark
On Tuesday, June 30, the Consumer Financial Protection Bureau (the “Bureau”) published its final rule in the Federal Register to expand the definition of “larger participants” in the financial product and service markets...