by David Schwartz J.D. CPA | Apr 25, 2012 | All, Formal Regulatory Remedies
On April 19, the Federal Reserve Board clarified that an entity covered by Volcker Rule will have the full two-year period provided by the statute to conform its activities and investments. The guidance issued by the Fed also assures covered entities and institutions...
by David Schwartz J.D. CPA | Apr 24, 2012 | All, Change Overview and Rationale
In an April 13 address, Ben Bernanke, Chairman of the Board of Governors of the Federal Reserve System, made clear that he sees the system of shadow banking as a key vulnerability that makes another catastrophic economic crisis nearly inevitable. In Bernanke’s...
by David Schwartz J.D. CPA | Apr 22, 2012 | All, Formal Regulatory Remedies
As capital requirements and structural reforms of banks and financial institutions fall into place, global financial regulators are renewing their efforts to bring shadow banking and securitized credit extension under some form of regulatory discipline. Though shadow...
by David Schwartz J.D. CPA | Apr 19, 2012 | All, Formal Regulatory Remedies
Citing the large volume of comments received in response to the proposed rules, on Nov. 9, 2012, the Federal Reserve Board, the OCC, and the FDIC announced in a joint release that proposed rules to implement the Basel III regulatory capital accords will not take...
by David Schwartz J.D. CPA | Apr 19, 2012 | All
A storm, or more aptly, a hurricane of litigation is on its way for the banks involved in the LIBOR rate-rigging scandal. The LIBOR banks face not just the prospect of criminal prosecution, but also exposure to law suits by thousands of market participants and others...
