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Category: Securities Law
Jim Hamilton\'s World of Securities Regulation - January 31, 2012
Senate legislation would end a tax loophole that allows traders in complex derivatives to buy and sell these instruments in days or even seconds, yet claim a large portion of the resulting income as a long-term capital gain. Introduced by Senator Carl Levin (D-Mich) the Closing the Derivatives ...
Jim Hamilton\'s World of Securities Regulation - January 31, 2012
In a bi-partisan letter to the SEC, seventeen House Members, including Capital Markets Subcommittee Chair Scott Garrett (R-NJ), asked the Commission to delay the March 30, 2012 implementation of regulations requiring the registr
Jim Hamilton\'s World of Securities Regulation - January 30, 2012
The Senate is set to pass legislation barring members of Congress from profiting on inside information they obtain as part of the job and that is not readily available to the public. The dispute over the applicability of insider trading laws to Congress centers largely on the issue of whether ...
Jim Hamilton\'s World of Securities Regulation - January 30, 2012
Noting that wherever he goes in the world the one question asked more than any other is will the US come on board with IFRSs, IASB Chair Hans Hoogervorst emphasized that the US will ultimately come on board. While conceding that he has no privileged insight regarding the SECs internal decision ...
Jim Hamilton\'s World of Securities Regulation - January 30, 2012
The United States Sentencing Commission has implemented the directives of Section 1079A of the Dodd-Frank Act regarding cases involving securities fraud and cases involving mortgage fraud and financial institution fraud. Section 1079A requires the Commission to review and, if appropriate, amend ...
Jim Hamilton\'s World of Securities Regulation - January 29, 2012
Legislation exempting inter-affiliate swaps from margin and other requirements under the derivatives provisions of the Dodd-Frank Act was approved by voice vote by the House Agriculture Committee. Sponsored by Rep. Steve Stivers (R-OH) and Rep. Marcia Fudge (D-OH),
Jim Hamilton\'s World of Securities Regulation - January 29, 2012
Comment letters on the PCAOBs concept release on auditor independence and audit firm rotation reveal a growing consensus among the audit committee chairs of complex global corporations that mandatory audit firm rotation would undermine the audit committee as overseer of the companys relationship ...
Jim Hamilton\'s World of Securities Regulation - January 28, 2012
The House Agriculture Committee approved by a voice vote bi-partisan legislation providing certainty and direction with regard to the Dodd-Frank definition of swap execution facility. Sponsored by Rep. Scott Garrett (R-NJ), Chair of the Capital Markets Subcommittee, the Swap Execution Facility ...
Jim Hamilton\'s World of Securities Regulation - January 28, 2012
The Financial Crimes Enforcement Network is working on a regulatory proposal that would require investment advisers to establish anti-money laundering programs and report suspicious activity. In remarks at a recent American Banker
The 10B-5 Daily - January 27, 2012
The use (and sometimes abuse) of confidential witnesses in securities cases is a contentious issue. Prior to full discovery, what remedy does the defendant have if a confidential witness was misquoted in the complaint? One possibility, recently approved by the...
Jim Hamilton\'s World of Securities Regulation - January 27, 2012
The SEC, CFTC and banking agencies must achieve a uniform approach to enforcement of the Volcker Rule so as not to favor certain entities with an advantage and not to create opportunities for regulatory avoidance, emphasized Senator Kirstin Gillibrand (D-NY). In a
Jim Hamilton\'s World of Securities Regulation - January 27, 2012
The securities industry and the Society of Corporate Secretaries and Governance Professionals have urged the SEC to employ a negotiated rulemaking process when adopting pay ratio regulations under Dodd-Frank that will allow a representative group of stakeholders on a rulemaking advisory committee ...
Jim Hamilton\'s World of Securities Regulation - January 26, 2012
The proposed regulations implementing the Volcker Rule provisions of the Dodd-Frank Act may unintentionally narrow the scope of permitted activities, such as market making, that Congress preserved and could siphon liquidity from capital markets and harm US capital formation, said Senator Kay Hagan ...
Jim Hamilton\'s World of Securities Regulation - January 26, 2012
The possible revisions to standards on the reports of outside auditors on company financial statements suggested by a PCAOB concept release would fundamentally change the role of the auditor from an independent analyst to an original source of information for investors, said the Society of ...
Jim Hamilton\'s World of Securities Regulation - January 26, 2012
The House Agriculture Committee has approved bi-partisan legislation clarifying that commercial end users would not be subject to margin requirements for uncleared swaps under derivatives provisions of the Dodd-Frank Act. The Business Risk Mitigation and Price Stabilization Act
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