by David Schwartz J.D. CPA | May 21, 2014 | All, Change Overview and Rationale, Procedural Changes
The US Financial Stability Oversight Council has published its 2014 Annual Report which highlights, among other things, the activities of the Council, significant financial market and regulatory developments, an assessment of those developments on the stability of the...
by David Schwartz J.D. CPA | Apr 19, 2014 | All, Change Overview and Rationale, Formal Regulatory Remedies
On November 12 2014, the UK’s Financial Conduct Authority issued Final Notices collectively imposing record fines totaling $1.7 billion on five global banking firms for alleged rigging of the FX market. The FCA found that the banks engaged in widespread conduct that...
by David Schwartz J.D. CPA | Apr 15, 2014 | All, Change Overview and Rationale, Commentary, Formal Regulatory Remedies
The September 2013 Office of Financial Research (OFR) report entitled “Asset Management and Financial Stability” attempts to present a critical analysis of how asset management firms and the activities in which they engage can introduce vulnerabilities that could...
by David Schwartz J.D. CPA | Apr 13, 2014 | All
U.S. District Court Judge Naomi Reice Buchwald has ruled against a group of plaintiffs seeking to use the Sherman Antitrust Act to punish rate-setting banks for manipulating LIBOR. Although some of the defendant banks on the London Interbank Offered Rate panel have...
by David Schwartz J.D. CPA | Mar 25, 2014 | All, Formal Regulatory Remedies
In a strong defense of the stability and safety of the asset management industry, Investment Company Institute President and CEO Paul Schott Stevens told the Mutual Fund and Investment Management Conference that not only are asset managers and the funds that they...
