Financial Regulatory Forum

SEC cracks down on disclosure of lawsuit costs (Westlaw News & Insight)

By Guest Contributor
February 3, 2011

By Carlyn Kolker

NEW YORK, Feb 3 (Reuters Legal) – The U.S. Securities and Exchange Commission is cracking down on corporate disclosure of litigation costs, a Reuters Legal analysis has found. In particular, the agency is targeting banks and other institutions that have reported large settlements of financial crisis-related lawsuits that they had not disclosed in prior regulatory filings. (more…)

SEC whistleblower rules raise risk for companies, lawyers say (Complinet)

By Guest Contributor
February 3, 2011

By Emmanuel Olaoye

NEW YORK, Feb. 2 (Complinet) Proposed increases in federal rewards for whistleblowers who report securities violations to the Securities and Exchange Commission raise the risk that employees will go outside their firms to report trouble, according to industry officials. Firms can avoid being the victims of potential whistleblowers by better publicizing their internal channels for reporting wrongdoing and getting creative with incentives for using them, they said. (more…)

ANALYSIS-Companies could get caught in Asia as corruption rules tighten

By Reuters Staff
January 21, 2011

By Rachel Armstrong

SINGAPORE, Jan 20 (Reuters) – Multinational firms trying to get a bigger piece of the Asia growth story face a rising risk of becoming embroiled in corruption scandals unless they enforce stricter compliance norms and new regulations.

ANALYSIS-New U.S. funds regulator at SEC must shed Goldman skin

By Reuters Staff
January 20, 2011

The headquarters of the U.S. Securities and Exchange Commission (SEC) are seen in Washington, July 6, 2009. REUTERS/Jim Bourg (UNITED STATES BUSINESS POLITICS)By Ross Kerber and Sarah N. Lynch

BOSTON/WASHINGTON, Jan 19 (Reuters) – For U.S. Securities and Exchange Commission Chairman Mary Schapiro, the choice of a Goldman Sachs Group  insider as her new top funds regulator could be a double-edged sword.

Can hedge funds double dip under Dodd-Frank whistleblower rules? (Westlaw Business)

By Guest Contributor
January 6, 2011

By Jesse R. Morton

NEW YORK, Jan 6 (Westlaw Business) – Whistleblower provisions in Dodd-Frank may have handed hedge funds a golden opportunity and the SEC a unique challenge.

U.S. financial regulation: Three things to watch, and two not to, in 2011 – Complinet column

By Guest Contributor
January 3, 2011

MARKETS-STOCK/By Scott McCleskey, Complinet

The past year was a busy one for those interested in financial reform – you know, Dodd-Frank and all that. But the new year will be even more fateful in shaping the markets for decades to come. It is likely to be the most critical of the post-financial crisis period. The reason is that Dodd-Frank only gave the regulators their marching orders, and 2010 mostly saw just the preliminaries to the really tough regulation. It will be in 2011 that actual rules will be proposed, finalized and implemented – and all by mid-year, if deadlines are met. It will also be when the Republicans hit the beach in the House and attempt to moderate or reverse many of the reforms already underway.

Swapping the rules: derivatives concern SEC, CFTC and the market (Westlaw Business)

By Guest Contributor
September 24, 2010
Gary Gensler, chairman of the U.S. Commodity Futures Trading Commission, gestures as he testifies before the Financial Crisis Inquiry Commission hearing on the Role of Derivatives in the Financial Crisis on Capitol Hill in Washington July 1, 2010. REUTERS/Yuri Gripas (UNITED STATES - Tags: POLITICS BUSINESS)

Gary Gensler, chairman of the U.S. Commodity Futures Trading Commission.

(Westlaw Business) - Swap markets and players were a main focus of Dodd-Frank, yet the SEC and CFTC were left to work out the details. The market, from Ropes & Gray to the Reinsurance Association of America, has provided these regulators with public comment and disclosure commentary. Now that the public comment period has drawn to a close, one thing is clear: issues from “security-based swap” to “swap participant” are certain to have big impact on a broad array of companies, both in financial services and beyond.

ANALYSIS-EU, U.S. supervisors face derivatives test

By Reuters Staff
September 15, 2010

By Huw Jones

LONDON, Sept 15 (Reuters) – Differences between new European Union and U.S. rules to crackdown on derivatives will be a key test of how well transatlantic regulators can coordinate to iron out loopholes banks may be tempted to exploit.

ANALYSIS-New Jersey case puts U.S. muni issuers on alert

By Reuters Staff
August 20, 2010

By Lisa Lambert and Joan Gralla

WASHINGTON/NEW YORK, Aug 19 (Reuters) – Municipal bond issuers are on high alert after the Securities and Exchange Commission charged the state of New Jersey with fraud for failing to disclose to bond buyers it had underfunded the state’s pensions.

ANALYSIS-When in doubt on Wall Street reform, order a study!

By Reuters Staff
July 2, 2010

By Kevin Drawbaugh

WASHINGTON, July 1 (Reuters) – The sweeping Wall Street reform bill moving through the U.S. Congress calls for no fewer than 39 studies — an impressive level of trying to look busy while dodging controversy, even by Washington standards.