by David Schwartz J.D. CPA, Executive Director | Jun 28, 2017 | All, Change Overview and Rationale, Formal Regulatory Remedies
In Congressional testimony on June 22, 2017, Federal Reserve Governor Jerome H. Powell highlighted the progress that has been made since the financial crisis in improving the resiliency and resolvability of the U.S. banking industry. Having achieved the primary goals...
by David Schwartz J.D. CPA, Executive Director | 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, Executive Director | 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, Executive Director | 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, Executive Director | 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...
