Financial Regulation >>>
The U.S. Securities and Exchange Commission’s Office of Compliance Inspections and Examinations has completed more than roughly 40 examinations of new investment adviser registrants with more than 80 underway since the end of last year, according to Andrew Bowden, deputy director of OCIE. Click here to continue reading.
European Union stress test models haven’t fully reflected the riskiness of European sovereign debt, New York University economists have found. Click here to continue reading.
Proponents of global coordination on benchmark rate-setting rules say varying proposals on their composition, governance and supervision may convince some companies to do business in less-regulated countries. Click here to continue reading.
The cost to implement provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act more than tripled at four regulators in 2012 from 2011, the U.S. Government Accountability Office said in a report. Click here to continue reading.
Small firms would benefit from more lenient regulation — including less financial disclosure — according to a plan for a new small-company stock exchange that a U.S. Securities and Exchange Commission panel put forward last week, the panel’s chairman said. Click here to continue reading.
New federal guidelines on employee use of social media at some financial institutions may be at odds with state privacy laws, and could force firms to change their policies to abide by both sets of rules, industry lawyers said. Click here to continue reading.
The U.S. Financial Stability Oversight Council was singled out in a recent Government Accountability Office study for not yet identifying which nonbank financial firms should be better supervised. Click here to continue reading.
Wells Fargo & Co., Bank of America Corp. and JPMorgan Chase & Co. are among banks that will reap savings under last week’s deal with U.S. regulators that no longer requires independent consultants to review foreclosures. The savings will help offset the cost to settle government charges that the banks wrongfully foreclosed on struggling homeowners. Click here to continue reading.
At least six major post-crisis rules aimed at making markets safer have stalled in the past 10 weeks because of industry opposition, global disagreements and regulators’ concerns that haste may cause more harm than good, bank executives and financial analysts said. Click here to continue reading.
The Treasury Department’s inspector general has threatened to punish JPMorgan Chase & Co. for failing to turn over documents to regulators investigating the bank’s ties to Bernard Madoff’s Ponzi scheme. Inspector General Eric Thorson gave the largest U.S. bank a Jan. 11 deadline to cooperate with the Office of the Comptroller of the Currency probe or risk sanctions [...]