by David Schwartz J.D. CPA, Executive Director | Nov 13, 2014 | All, Formal Regulatory Remedies
On November 6, 2014, the Securities and Exchange Commission granted Eaton Vance’s request to launch an “exchange traded managed fund” (ETMF), a new kind of exchange traded fund. Only a week before, the SEC provisionally denied similar requests for ETMFs...
by David Schwartz J.D. CPA, Executive Director | Oct 28, 2014 | All, Change Overview and Rationale
These heightened capital requirements for licensed banks may trigger even more regulatory arbitrage than was observed in the recent past, thereby inducing a large migration of banking activities towards the shadow banking system. The higher solvency of the licensed...
by David Schwartz J.D. CPA, Executive Director | Oct 22, 2014 | All
In 2009, American International Group (AIG) sued the Internal Revenue Service (IRS) to recover approximately $306 million in denied tax credits. After negotiating a tortuous litigation process, the dispute has surfaced again in court. On October 17, 2014, AIG argued...
by David Schwartz J.D. CPA, Executive Director | Oct 19, 2014 | All, Change Overview and Rationale, Formal Regulatory Remedies
On June 25, 2014, the Securities and Exchange Commission finalized new rules and interpretive guidance addressing the cross-border application of a security-based swap regulatory framework called for under the Dodd-Frank Act. These final rules are the first of a...
by David Schwartz J.D. CPA, Executive Director | Oct 15, 2014 | All, Change Overview and Rationale, Formal Regulatory Remedies
Securities financing transactions such as repos are important funding tools for a wide range of market participants, including non-bank financial firms. The implementation of the numerical haircut floors on securities financing transactions will reduce the build-up of...
