Title IV

Weeks after announcing its first action against a company for violating the agency’s new marketing rule, the Securities and Exchange Commission (SEC) released details about nine more organizations that elicited similar charges. 

The nine registered investment advisers subject to the marketing rule stand accused of advertising hypothetical performance metrics on their websites without adopting and/or implementing required policies and procedures.

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Commodity Futures Trading Commission Acting Commissioner J. Christopher Giancarlo highlighted his agency’s plans for streamlining its processes and accounting for advancements in fintech while testifying before the Financial Services and General Government Appropriations Subcommittee. Read on to learn more.  Read on »

With the coming of a new administration led by president-elect Donald Trump, whose transition team has said he plans to “dismantle” the Dodd-Frank Act, legislation put forth by Rep. Jeb Hensarling, H.R. 5983, also known as “the Financial Choice Act” (FCA), is front and center on the national stage.

FCA, which the House of Representatives passed in September, proposes to repeal or amend numerous portions of Dodd-Frank. The first of our two-part series addresses the Consumer Financial Protection Bureau and general regulatory reform.

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The Securities and Exchange Commission (SEC) announced several key staff changes in the month of February. Most recently, the agency named Washington, D.C., compliance attorney Stephen Luparello as director of the Division of Trading and Markets, which regulates major securities market participants including broker-dealers, credit rating agencies, transfer agents and self-regulatory organizations (SRO).

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The Federal Reserve and Securities and Exchange Commission (SEC) announced the impending departure of key staff members. Sandra Braunstein, director of the Fed’s Division of Consumer and Community Affairs, will retire on April 1 after nearly 27 years at the agency. SEC Enforcement Co-Director George Canellos also plans to leave his post.     

Braunstein joined the Fed in 1987 and was named senior associate director of the Division of Consumer and Community Affairs in 2003. She has served as division director since April 2004.  

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New numbers tracking regulatory deficiencies among investment advisers indicate advisers successfully navigated a Dodd-Frank-mandated switch from federal to state oversight.

Title IV of the Dodd-Frank Act raised the threshold for Securities and Exchange Commission registration to $100 million by creating a new category of advisers called “mid-sized advisers.” About 2,100 mid-sized investment advisers with assets under management between $30 million and $100 million switched from federal to state oversight earlier this year, according to the North American Securities Administrators Association (NASAA). Read on »

The U.S. House Financial Services Committee approved four bills that proponents claim will reduce the regulatory burden on job creators. Three of the bills would modify the Dodd-Frank Act. One such bill would repeal a provision requiring public companies to submit a disclosure comparing employees’ compensation to the chief executive officer’s compensation. 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 »

A key U.S. House committee plans to scrutinize regulators’ efforts to implement the Dodd-Frank Act over the next two years. The House Financial Services Committee oversight plan for the 113th Congress indicated lawmakers will keep close watch on the new agencies created under the act, including the Consumer Financial Protection Bureau, the Financial Stability Oversight Council and the Federal Insurance Office. Read on to learn about the committee’s other areas of focus. Read on »

Securities and Exchange Commission Chairman Mary Schapiro isn’t the only key agency player stepping down as 2012 comes to a close. The commission recently announced three other leaders who helped implement Dodd-Frank’s requirements are leaving their posts. Read on for the details. Read on »