by David Schwartz J.D. CPA | Aug 21, 2013 | All, Change Overview and Rationale, Formal Regulatory Remedies
In an effort to combat the pro-cyclicality caused by changes in repo and securities lending haircuts during a crisis, the Financial Stability Board has proposed to introduce minimum standards for the calculation of haircuts. In the belief that higher haircuts would...
by David Schwartz J.D. CPA | Feb 17, 2013 | All, Change Overview and Rationale, Formal Regulatory Remedies
The Senate Banking Committee spent the best part of its Valentine’s Day grilling Fed officials and agency heads about the regulatory implementation of Dodd-Frank. Despite holding the hearings on a day dedicated to romance and love, the Senators certainly did not...
by David Schwartz J.D. CPA | Jan 12, 2013 | All, Change Overview and Rationale, Formal Regulatory Remedies
Securities lending is a potentially pro-cyclical source of funding, raising the possibility that participants will have to dump securities during times of financial stress. It can lead to unexpected connections among disparate market players, such as insurance...
by David Schwartz J.D. CPA | Dec 16, 2012 | All, Change Overview and Rationale
What does the exodus of senior officials at the SEC mean for the future of securities regulation? This month, the SEC announced that the agency’s chair, two division heads, and the general counsel and chief of staff will leave their posts. Though it is not...
by David Schwartz J.D. CPA | Nov 19, 2012 | All, Formal Regulatory Remedies
In an address before the ALI Conference on Investment Adviser Regulation in New York City on December 6, 2012, Norm Champ, the new Director of the SEC’s Division of Investment, announced that the “Division staff will no longer defer consideration of exemptive...
