Title IX

The Securities and Exchange Commission said it will award three whistleblowers a percentage of the money that it ultimately collects from its enforcement action against a sham hedge fund and its chief executive officer who defrauded investors out of $2.7 million. The June 12 order announcing the awards is the second such order the SEC released since implementing its Dodd-Frank whistleblower program in August 2011. Read on for the details. Read on »

A financial strategist who said he was fired for complaining about alleged efforts to influence his published research sued his employer, claiming the company violated Dodd-Frank provisions intended to protect whistleblowers from retaliation. The company urged a federal court to dismiss the claim, arguing that because the employee did not report his concerns to the Securities and Exchange Commission, he was not a “whistleblower” for the purposes of the act’s anti-retaliation provisions. Read on to learn ... Read on »

An agency criticized for its assessments of the costs and benefits associated with some of its Dodd-Frank final rules would face enhanced rulemaking requirements under legislation approved by the U.S. House. Read on to learn about the bill and the obligations it would place on the Securities and Exchange Commission. Read on »

The Federal Housing Finance Agency directed Fannie Mae and Freddie Mac to limit their future mortgage acquisitions to loans that meet the requirements for a qualified mortgage, including those that meet the Consumer Financial Protection Bureau’s special or temporary QM definition, and loans that are exempt from Dodd-Frank’s ability-to-repay requirements. Read on for the details. Read on »

President Barack Obama tapped veteran U.S. House Democrat Mel Watt to be the permanent leader of the Federal Housing Finance Agency. The president’s announcement comes amid mounting tension over the FHFA’s stance on principle write-downs under acting Director Edward DeMarco. It also comes at a key moment for the FHFA, which is under pressure to hasten the wind down of government sponsored enterprises Fannie Mae and Freddie Mac. Read on »

The Government Accountability Office is urging the Securities and Exchange Commission to beef up its internal supervisory controls after the GAO identified numerous deficiencies in controls it tested. Read on to learn about the deficiencies and what the GAO said the SEC should do to address the issues it found. Read on »

Overhauling the Consumer Financial Protection Bureau’s leadership structure, improving regulatory coordination and repealing the Volcker Rule are among the items included in a broad package of Dodd-Frank tweaks suggested by the U.S. Chamber of Commerce. Read on to learn about the chamber’s new “Fix, Add, Replace Agenda” for financial reform. Read on »

The market presence of government sponsored enterprises Fannie Mae and Freddie Mac will shrink over time and a new business entity will be established under a plan outlined by the Federal Housing Finance Agency. Read on to learn what the FHFA had to say about GSE reform in its 2013 Conservatorship Scorecard for Fannie Mae and Freddie Mac. Read on »

The Securities and Exchange Commission is stepping into a contentious debate over the regulation of broker-dealers and investment advisers. The agency recently requested data and other information to assist regulators in considering whether to make new rules about the standards of conduct and regulatory obligations for broker-dealers and investment advisers. The SEC is particularly interested in the potential impact of creating a uniform fiduciary standard of conduct applicable to all investment advisers... Read on »

The Securities Exchange Commission published its examination priorities for 2013, which cover a wide range of issues at financial institutions, including broker-dealers, clearing agencies, exchanges and self-regulatory organizations, investment companies, hedge funds and private equity funds and transfer agents. Read on to learn about the SEC’s Dodd-Frank Act-related examination plans. Read on »