by David Schwartz J.D. CPA | Apr 27, 2015 | All, Change Overview and Rationale, Procedural Changes
Prior to the financial crisis, regulators only had limited data available to them about securities lending and repo markets. The crisis exposed a number of vulnerabilities previously not recognized as a result of this lack of data. Right away, regulators realized that...
by David Schwartz J.D. CPA | Apr 19, 2015 | All
JPMorgan Chase & Co has agreed to pay $100 million to settle a U.S. antitrust lawsuit in which investors accused it and 11 other major banks of rigging prices in the $5 trillion-per-day foreign exchange market. Investors sued the 12 banks alleging that traders at...
by David Schwartz J.D. CPA | Apr 19, 2015 | All, Change Overview and Rationale, Formal Regulatory Remedies
In a November 2, 2015 speech in Madrid, Stefan Ingves, Chairman of the Basel Committee and Governor of Sveriges Riksbank, announced that the Basel Committee on Banking Supervision will revisit internal risk modeling by banks. According to Mr. Ingves, “ample...
by David Schwartz J.D. CPA | Apr 13, 2015 | All, Change Overview and Rationale, Formal Regulatory Remedies
The Department of Labor has issued its long awaited reproposal of fiduciary standards for advisors of ERISA retirement plans. These new rules propose to expand the scope of the the definition of fiduciary under ERISA in order to capture more of the current services of...
by David Schwartz J.D. CPA | Mar 24, 2015 | All, Formal Regulatory Remedies
In a March 4, 2015 letter, two House Republicans requested answers from Department of Labor (DOL) Secretary Thomas E. Perez about the process for devising new fiduciary rules for investment professionals providing services to retirement plans. Representative John...
