by David Schwartz J.D. CPA | Feb 19, 2017 | All, Change Overview and Rationale, Formal Regulatory Remedies
In dual releases published on January 25, 2017, the Financial Stability Board (FSB) expressed concern that reuse of collateral and rehypothecation of client assets may pose financial stability issues. The financial crisis demonstrated that collateral re-use and...
by David Schwartz J.D. CPA | Jan 25, 2017 | All
American Depositary Receipts are back in the news. The Wall Street Journal reported on November 8, 2016 that the Securities and Exchange Commission has issued subpoenas to four large banks with expansive ADR businesses seeking information about trading of ADRs. Citing...
by David Schwartz J.D. CPA | Jan 22, 2017 | All, Change Overview and Rationale, Formal Regulatory Remedies
For the most part, Treasury Nominee Steven Mnuchin’s five-hour confirmation hearing on January 19, 2017 focused on responding probing questions about his past associations and financial reporting oversights. Amid the sparring, however, Mnuchin was able to reveal...
by David Schwartz J.D. CPA | Jan 18, 2017 | All, Formal Regulatory Remedies
Republican control of Congress and the White House has put financial regulatory reform back on the legislative agenda. As an indication of Republicans’ preliminary plans, the Financial CHOICE Act (H.R. 5983), proposes a regulatory capital “off-ramp” for...
by David Schwartz J.D. CPA | Jan 13, 2017 | All
As we reported in our January 3, 2017 post, a Fed staff report published in December 2016 found that the Volcker Rule was harming bond liquidity. Not a month later, a new Fed staff working paper[1] published this week found that regulations limiting banks’ balance...
