by David Schwartz J.D. CPA, Executive Director | Apr 19, 2013 | All, Formal Regulatory Remedies
On December 14, 2012, the Board of Governors of the Federal Reserve System (Fed) issued for public comment a rule proposal that, if adopted, could drastically alter the structure and operations of foreign banking organizations (FBOs) in the U.S. The Fed’s...
by David Schwartz J.D. CPA, Executive Director | Apr 17, 2013 | All, Change Overview and Rationale, Disclosure Regimes, Traditions
The latest financial crisis was marked by a spectacular lack of understanding about the astounding levels of risk that had been allowed to build up throughout the system. Regulators and risk managers realized after the fact that the data they needed to understand the...
by David Schwartz J.D. CPA, Executive Director | Mar 24, 2013 | All, Formal Regulatory Remedies
Rather than responding appropriately to the crisis, which would include developing a modern regulatory system with the flexibility to adapt to changes in the global financial system, we instead have been saddled with an increasingly prescriptive and inflexible...
by David Schwartz J.D. CPA, Executive Director | Mar 20, 2013 | All, Formal Regulatory Remedies
CFTC Commissioner Mark Wetjen has signaled that the CFTC may extend the July effective date for its cross-border derivatives rules. Speaking at a Futures Industry Association conference on March 12, 2013, Wetjen said the European Securities and Markets...
by David Schwartz J.D. CPA, Executive Director | Mar 19, 2013 | All, Change Overview and Rationale
The financial crisis has given rise to record numbers of law suits. But six years on, are we seeing the end of this litigation frenzy? In an effort to answer this question, Fatan Sabry, Eric Wang, and Joseph Mani of NERA Economic Consulting have surveyed existing...
