by David Schwartz J.D. CPA | Dec 19, 2013 | All, Change Overview and Rationale
As we work to update the regulatory architecture for finance, it seems obvious that it’s not stone-age simplicity that will help to pre-empt the next crisis but greater insights into, and better understanding of, the financial system we have wrought. Does a complex...
by David Schwartz J.D. CPA | Dec 19, 2013 | All, Formal Regulatory Remedies
On June 5, 2013, the Federal Reserve Board issued interim final rules that grant foreign banks’ uninsured US branches and agencies access to the same swaps push out rules exemptions, transition period, and grandfathering provisions applicable to insured depository...
by David Schwartz J.D. CPA | Dec 19, 2013 | All, Formal Regulatory Remedies, Procedural Changes
In their latest client memo, the Blank Rome law firm alerts directors and trustees of financial firms about their role in new swaps regulations. In particular, the firm puts public companies on notice that their boards must take action in order to take advantage of...
by David Schwartz J.D. CPA | Dec 19, 2013 | All, Formal Regulatory Remedies
Based on the European Securities and Markets Authority’s (ESMA’s) UCITS guidelines, which became effective in February, it was initially feared that asset managers would be required to return all revenues from securities lending to investors. Responding to these and...
by David Schwartz J.D. CPA | Dec 12, 2013 | All, Formal Regulatory Remedies
On December 10, 2013, five federal agencies issued final rules developed jointly to implement section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Volcker Rule”). The final Volker Rules prohibit FDIC insured depository institutions...
