Thursday, March 30, 2017

OFR Launches Initiative to Reduce Regulatory Reporting Burden

Author: David Schwartz J.D. CPA

In a March 16, 2017 address before the Financial Data Summit in Washington, DC, Richard Berner, Director of the Office of Financial Research (OFR), announced an initiative to identify areas of “duplication, overlap, and inefficiency in regulatory reporting.” The initiative is being undertaken in partnership with with the Financial Stability Oversight Council (and its member agencies). The goal of the project is to “improve data quality and reduce the...

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Categories: All, Disclosure Regimes, Formal Regulatory Remedies

Tags: OFR, datasets

Monday, October 24, 2016

ISDA Says it's Time to Revamp the Derivatives Markets

Author: David Schwartz J.D. CPA

The fast pace and broad scope of new regulation are driving participants in the complex derivatives markets to adapt quickly. Layers of old infrastructure and practices built up over time need to be overhauled to keep up with new regulation, technological change, and overall structural changes in derivatives markets. In a September 15, 2016 white paper, the International Swaps and Derivatives Association, Inc. (ISDA) has called for greater standardization and...

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Categories: All, Change Overview and Rationale, Disclosure Regimes, Formal Regulatory Remedies

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Monday, October 10, 2016

FSOC Wants Better Securities Lending and Repo Data

Author: David Schwartz J.D. CPA

In its 2016 annual report published in July, the Financial Stability Oversight Council (FSOC) said that more and better data was needed to assess the potential systemic risks associated with securities lending and repo. The super-regulator called for more transparency and better data collection from both lenders and borrowers in securities lending and repo markets. “Without comprehensive information on securities lending activities across the financial system,” the...

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Categories: All, Disclosure Regimes

Tags: Repo, securities lending, FSOC

Friday, July 1, 2016

FINRA and SEC to Focus on Advisor Fees

Author: David Schwartz J.D. CPA

Both FINRA and the Securities and Exchange Commission have indicated a renewed interest in the fees charged by investment advisors. In a May 2016 notice, FINRA announced a mutual fund fee waiver sweep intended to gather information regarding whether advisors had mechanisms in place to ensure that mutual fund investors are receiving promised fee waivers and reimbursements. The SEC’s investor advocate Rick A. Fleming announced in his annual report to Congress published on June...

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Categories: All, Change Overview and Rationale, Disclosure Regimes, Formal Regulatory Remedies

Tags: SEC, FINRA

Tuesday, December 1, 2015

Jumping into Dark Pools and Heading off Disruptive Trading

Author: SuperUser Account

Wednesday, November 18, 2015, was a busy day for the Securities and Exchange Commission. That morning the Commission convened to propose new rules to enhance the transparency of alternative trading systems, including “dark pools.” Later that day, Chairman Mary Jo White testified before Congress about the Commission’s plans to combat disruptive trading, to require registration “of certain active proprietary traders and improvements of firms’ risk management...

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Categories: All, Change Overview and Rationale, Disclosure Regimes, Formal Regulatory Remedies

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Commentary

OFR Launches Initiative to Reduce Regulatory Reporting Burden

ISDA Says it's Time to Revamp the Derivatives Markets

FSOC Wants Better Securities Lending and Repo Data

FINRA and SEC to Focus on Advisor Fees

Jumping into Dark Pools and Heading off Disruptive Trading

Journal Commentaries

Keep Regulation Functional (October 2008)

The Bear Market Posse, or Counterparty Risk Management during the Recent Turmoil (Sept. 2008)

Searching for New Paradigms at BIS (July 2008)

Will Basel II Affect The Competitive Landscape? (September 2003)