by David Schwartz J.D. CPA | Jun 20, 2017 | All, Change Overview and Rationale, Formal Regulatory Remedies
The London Interbank Offered Rate (LIBOR) has been the primary short-term reference interest rate for nearly fifty years. Following a scandal wherein employees of rate-setting banks were implicated in manipulating LIBOR, U.S., European, and other regulators embarked...
by David Schwartz J.D. CPA | Jun 19, 2017 | All, Disclosure Regimes, Formal Regulatory Remedies
On June 1, 2017, the Public Company Accounting Oversight Board (PCAOB) voted to adopt new standards for public company audit reports. The new auditing standard, AS 3101, is the result of nearly eight years of work by the PCAOB with members of the public accounting...
by David Schwartz J.D. CPA | Jun 19, 2017 | All, Change Overview and Rationale, Formal Regulatory Remedies
In her keynote address at the 2017 Brodsky Family Northwestern JD-MBA Lecture Series, CFTC Commissioner Sharon Y. Bowen described her thinking on the key trends driving regulatory activity. Commissioner Bowen identified “four disruptive elements” she believes...
by David Schwartz J.D. CPA | Jun 19, 2017 | All, Change Overview and Rationale, Formal Regulatory Remedies
In a sparsely worded press release on January 3, 2017, the Bank for International Settlements announced that the January 8 meeting of the group of central bank governors and heads of supervision (GHOS) has been postponed. At this meeting, the GHOS were to finalize...
by David Schwartz J.D. CPA | Jun 14, 2017 | All, Change Overview and Rationale, Formal Regulatory Remedies
In response to Executive Order 13772, on June 14, 2017 Treasury Secretary Steven Mnuchin published a report identifying recommendations for changes to the regulation of the U.S. financial system in a manner consistent with the Executive Order’s “core...
