Prohibitions and Restrictions on Proprietary Trading and Certain Interests in, and Relationships With, Hedge Funds and Private Equity Funds, Proposed Rule (November 2011) resource National Regulations OCEG Reviewed
SUMMARY: The OCC, Board, FDIC, and SEC (individually, an ‘‘Agency,’’ and collectively, ‘‘the Agencies’’) are requesting comment on a proposed rule that would implement Section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (‘‘Dodd-Frank Act’’) which contains certain prohibitions and restrictions on the ability of a banking entity and nonbank financial company supervised by
SEC, Prohibition Against Conflicts of Interest in Certain Securitizations (Proposed Rule, 2011) resource National Regulations OCEG Reviewed
Section 621 of the Dodd-Frank Act adds new Section 27B to the Securities Act.
Authority to Require Supervision and Regulation of Certain Nonbank Financial Companies (2011) resource National Regulations OCEG Reviewed
SUMMARY: Section 113 of the Dodd- Frank Wall Street Reform and Consumer Protection Act (the ‘‘Dodd-Frank Act’’) authorizes the Financial Stability Oversight Council (the ‘‘Council’’) to require a nonbank financial company to be supervised by the Board of Governors of the Federal Reserve System (the ‘‘Board of Governors’’) and be subject to prudential standards in accordance with Title I of the
SEC, Registration of Security-Based Swap Dealers and Major Security-Based Swap Participants (2011) resource National Regulations OCEG Reviewed
Title VII of the Dodd-Frank Act broadly categorizes covered products as ‘‘swaps,’’ regulated primarily by the CFTC, ‘‘security-based swaps,’’ regulated primarily by the Commission, or ‘‘mixed swaps,’’ jointly regulated by the Commission and the CFTC.
NCUA, Corporate Credit Unions (2011, Final Rule) resource National Regulations OCEG Reviewed
Summary: NCUA is issuing final amendments to its rule governing corporate credit unions (corporates). The amendments include internal control and reporting requirements for corporates similar to those required for banks under the Federal Deposit Insurance Act and the Sarbanes-Oxley Act.
SEC, Securities Whistleblower Incentives and Protections (2011, Final Rule) resource National Regulations OCEG Reviewed
Summary: The Commission is adopting rules and forms to implement Section 21F of the Securities Exchange Act of 1934 (‘‘Exchange Act’’) entitled ‘‘Securities Whistleblower Incentives and Protection.’’ The Dodd-Frank Wall Street Reform and Consumer Protection Act, enacted on July 21, 2010 (‘‘Dodd- Frank’’), established a whistleblower program that requires the Commission to pay an award, under re
Defense Federal Acquisition Regulation Supplement; Display of DoD Inspector General Fraud Hotline Posters (DFARS Case 2010–D026)(2011, Proposed Rule) resource National Regulations OCEG Reviewed
DoD is proposing to issue a rule amending the Defense Federal Acquisition Regulation Supplement (DFARS) to require contractors to display the DoD fraud hotline poster in common work areas.
76 Federal Register 13327 (March 11, 2011)
SEC: Public Company Accounting Oversight Board; Order Approving Proposed Rules on Auditing Standards Related to the Auditor’s Assessment of and Response to Risk and Related Amendments to PCAOB Standards (2010) resource National Regulations OCEG Reviewed
The Board adopted eight auditing standards and related amendments that are designed to benefit investors by establishing requirements that enhance the effectiveness of the auditor’s assessment of and response to the risks of material misstatement in an audit. Assessing and responding to risks underlies the entire audit process.
SEC, Public Company Accounting Oversight Board; Notice of Filing of Proposed Rules on Auditing Standards Related to the Auditor’s Assessment of and Response to Risk and Related Amendments to PCAOB Standards (2010) resource National Regulations OCEG Reviewed
Board’s Statement of the Terms of Substance of the Proposed Rules On August 5, 2010, the Board adopted the following eight auditing standards:• Auditing Standard No. 8, Audit Risk• Auditing Standard No. 9, Audit Planning• Auditing Standard No. 10, Supervision of the Audit Engagement
Incentive-Based Compensation Arrangements, Proposed Rule (April 14, 2011) resource National Regulations OCEG Reviewed
SUMMARY: The OCC, Board, FDIC, OTS, NCUA, SEC, and FHFA (the Agencies) are proposing rules to implement section 956 of the Dodd-Frank Wall Street Reform and Consumer Protection Act.
