It’s no fun being a Regulator.
The short answer to this question is that the SEC and FINRA care. Both regulators have made this issue an exam priority for the year, and it was recently a focus of an SEC roundtable.
Monday Morning Regulatory Review: Syrian Sanctions Regulations Withdrawal; Medical Safety Codes Incorporated; & Official Seals Banned
With income tax filings due tomorrow, regulators appear glued to their computers, not preparing regulations, but entering numbers on their keypads, and, therefore, this week’s Monday Morning Regulatory Review focuses on three very different regulatory events.
Last week, Magistrate Judge David S. Cayer of the U.S. District Court for the Western District of North Carolina denied Bank of America’s motion to dismiss the Security and Exchange Commission’s claims against it in SEC v. Bank of America Corporation, et al.
On April 7th the Federal Reserve Board (the “Fed”) announced that it would provide banking entities with two additional one-year extensions to conform their ownership of CLOs covered by the Volcker Rule.
On April 7, the Division of Corporation Finance of the Securities and Exchange Commission issued nine new responses to frequently asked questions regarding the disclosure of conflict mineral usage that is required by rules adopted pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act, as discussed in the Corporate and Financial Weekly Digest edition of August 24, 2012.
The Securities and Exchange Commission’s Division of Trading and Markets has issued frequently asked questions (FAQ) concerning the amendments adopted on July 30, 2013, to Rule 17a-5 (Broker-Dealer Reporting Rule) of the Securities Exchange Act of 1934 (Exchange Act).
A New York Appellate Court held for the first time that a judgment issued by a foreign country’s criminal court awarding monetary compensation to a fraud victim is civil, not penal in nature, and therefore enforceable in New York State.
On April 9, 2014, the Consumer Financial Protection Bureau announced a $772 million deal with Bank of America Corp. to settle allegations that it deceptively marketed credit card add-on products and illegally billed customers.