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 19, 2013 | All, Change Overview and Rationale
The systematic effect of money market funds on the wider financial system is a topic of hot debate, with finance ministers, regulators, and standard setting bodies all over the globe weighing in. The New York Federal Reserve Bank is the latest to do so, asking...
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 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...
by David Schwartz J.D. CPA | Nov 26, 2013 | All, Procedural Changes
In a joint letter issued on November 5th, the FDIC, Bank of England, German Federal Financial Supervisory Authority, and Swiss Financial Market Supervisory Authority requested that the International Swaps and Derivatives Association adopt language in derivatives...
