Financial Regulatory Forum

INTERVIEW: E*Trade bank growth limited by U.S. regulatory asset threshold – CRO Mike Pizzi

April 21, 2015

The Dodd-Frank $50 billion asset threshold used to categorize systemically important banks has been a strategic business factor for E*Trade, the online broker, and unless there are compelling factors to breach the mark, the firm will continue to limit expansion of its balance sheet, chief risk officer, Mike Pizzi, said in an interview this week. (more…)

Shortcomings seen in U.S. nonbank systemic-risk process for insurers

April 21, 2015

Critics of the the Financial Stability Oversight Council’s designation of nonbanks as systemically important got a chance last month to point to what they viewed as shortcomings in its approach, while also offering clues for possible improvements, during a U.S. Senate hearing on the issue. 

Uncertainty over resolution regime may hamper loss-absorbency standard for big banks

March 18, 2015

Even as international standards slowly take shape for total loss absorbency capacity (TLAC) – key element of the regulatory effort to end the perception that major banks are “too-big-to-fail” – pe the end of a consultation period last month left uncertainty lingering over restrictions on many of its provisions, and more importantly, the context in which it would operate.

Not a good start to the year: Goodyear Tire fine and the FCPA lessons

By Guest Contributor
March 3, 2015

By Julie DiMauro, Compliance Complete

NEW YORK, March 3, 2015 (Thomson Reuters Accelus) - The due diligence that companies must perform before acquiring overseas companies and the anti-bribery controls required of foreign subsidiaries came into clear focus this week when the U.S. Securities and Exchange Commission (SEC) sanctioned Goodyear Tire & Rubber Co. $16.2 million for alleged Foreign Corrupt Practices Act (FCPA) violations.

IA Brief: Six steps to address U.S. SEC cybersecurity focus

February 11, 2015

Now that the Securities and Exchange Commission has formally named cybersecurity as a top exam priority, firms must prepare for the impending scrutiny.

Basel committee tightens disclosure requirements for banks

February 6, 2015

In an effort to streamline banks’ regulatory data through increased transparency, and make them more comparable and consistent across the board, the Basel Committee on Banking Supervision has publishedrevised standards on disclosures.

Eight products on FINRA examiners’ watch lists in 2015

By emmanuelolaoye
January 30, 2015

The Financial Industry Regulatory Authority’s 2015 exam priorities letter named eight products that it plans to monitor for risks to investors.

Back-tested performance – often misleading, but not off-limits with precautions

January 29, 2015

(Reporting by Julie DiMauro and Jason Wallace)

In separate actions against a Massachusetts-based exchange-traded funds investment manager, the SEC warned advisers to be careful if they advertise their performance, and to pay particular attention to the distinctions between true actual performance, model performance and back-tested performance.

SEFs 2015 outlook: industry sees more flexible execution rules; harmonization

January 13, 2015

Regulatory efforts to simplify existing swap mandate rules in order to reduce fragmentation between the U.S. and Europe are likely to dominate the focus of participants in the swaps execution facility (SEF) market in 2015.

IA brief: Determine 2015 filing deadlines before it’s too late

December 31, 2014

It’s never too early to start planning for 2015 regulatory filing deadlines. There are deadlines applicable to all registered investment advisers and some that require a firm to determine applicability, usually based on services offered or types of investments managed by the firm.