Financial Regulatory Forum

‘Panama Papers’ spur calls for U.S. adviser rule on money-laundering controls

April 20, 2016

In the wake of revelations outlining how a Panamanian law firm helped the wealthy stash wealth offshore, 11 financial transparency advocacy groups on Monday urged the U.S. Treasury Department’s anti-money laundering unit to issue a final rule requiring investment advisers to help combat financial crime. An adviser trade group disputed the accuracy of the group’s criticisms, and the Treasury unit developing the rule says it is still weighing public comments. (more…)

COLUMN: Roots of the next financial crisis: the last one’s veterans give views

April 19, 2016

By Lawrence Hsieh, Practical Law for Regulatory Intelligence

(Thomson Reuters Regulatory Intelligence) – There is a general consensus that the next financial crisis will follow the familiar arc of bubble, falling asset values, a run, credit/liquidity crunch, finger-pointing, new regulation, financial innovation, and unintended consequences for both regulation and innovation. There is less consensus about the where, when, how, and why.

Post-election SEC could emphasize enforcement over rule-writing, says former chair

November 9, 2012

By Emmanuel Olaoye

WASHINGTON/NEW YORK (Thomson Reuters Accelus) – With the U.S. Congress still politically divided after the elections that returned President Barack Obama to office, the U.S. Securities and Exchange Commission is likely to take an enforcement approach to supervision rather than look to change conduct by writing new rules, former commission chair Harvey Pitt said.

U.S. financial services can expect more Dodd-Frank in 2012, not less

December 16, 2011

By Rachel Wolcott

NEW YORK, Dec.16 (Thomson Reuters Accelus) – When congressman Barney Frank announced he would not seek another term, enemies were quick to predict the demise of the wide-ranging financial reform act that the Massachusetts Democrat penned with former Connecticut Senator Chris Dodd. These pronouncements are not just premature, but according to regulatory experts, probably wrong. Unless there is a real seismic political shift to the right after the 2012 elections, they say, the Dodd-Frank Wall Street Reform and Consumer Protection Act 2010 will survive, perhaps with a little tinkering, and firms had better be prepared to deal with it.

The best way to handle risk: hedge funds

July 6, 2010

Mockdollar

The following is a guest post by Sebastian Mallaby, the Paul A. Volcker Senior Fellow for International Economics at the Council on Foreign Relations and the author of More Money Than God: Hedge Funds and the Making of a New Elite. The opinions expressed are his own.

from DealZone:

The afternoon deal: Regulation overdrive

June 10, 2010

MOTOR-RACING-NASCAR/A joint Senate-House of Representatives conference committee convened at 2:15 p.m. EDT to begin merging competing bills from each chamber into what will be the biggest overhaul of the financial rules since the 1930s. Columnist John Kemp explains the simple conference process and the not so simple reality of merging the House of Representatives and Senate versions of the financial reform bill. The "base text" for the regulatory bill is here.

from MacroScope:

Spitzer: NY Fed “an absolute sinkhole”

April 14, 2010

To say former New York Governor Eliot Spitzer is no fan of the Federal Reserve Bank of New York would be an understatement.