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 Jointly Proposes Prohibitions and Restrictions on Proprietary Trading (2011) resource Agency Guidances OCEG Reviewed
Washington, D.C., Oct. 12, 2011 - The Securities and Exchange Commission today voted to propose a rule implementing the so-called "Volcker Rule" requirements. The requirements stem from Section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act.
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.
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.
Corporate Governance - King III report - Introduction and overview (PwC) resource Standards and Guidelines OCEG Reviewed
The release of King III (King Report on Corporate Governance for South Africa) report on 1 September 2009 represents a significant milestone in the evolution of corporate governance in South Africa and brings with it significant opportunities for organisations that embrace its principles. Documents on the site include:
United Kingdom, Financial Service Act 2010 resource National Laws OCEG Reviewed
From the Executive Summary: FSMA currently sets out four objectives for the FSA (Financial Services Authority). These are: maintaining confidence in the financial system; promoting public understanding of the financial system; securing the appropriate degree of protection for consumers; and reducing financial crime.
Credit Risk Retention, Notice of Proposed Rulemaking (2011) resource National Regulations OCEG Reviewed
March 31, 2011 - Six federal agencies are seeking comment on a proposed rule that would require sponsors of asset-backed securities (ABS) to retain at least 5 percent of the credit risk of the assets underlying the securities and would not permit sponsors to transfer or hedge that credit risk.
Objectives Of The Dodd-Frank Act (November 2010) resource Articles OCEG Reviewed
Introduction: President Barack Obama signed the Dodd-Frank Act into law on 21 July 2010. The main objective of the Act is to avert a repeat of the 2008 financial crisis by making financial institutions more accountable for their actions and by enhancing oversight of the industry to detect and prevent systemic risk before it reaches crisis level.
AICPA, Technical Practice Aid 8700.03, “Auditor’s Responsibilities for Subsequent Events Relative to a Conduit Debt Obligor" (September 2010) resource Standards and Guidelines OCEG Reviewed
The TPA provides guidance on the effect of FASB Accounting Standards Update no. 2010-09 on ASC Topic 855, Subsequent Events, regarding the auditor’s responsibilities for subsequent events relative to a conduit debt obligor and the date of the auditor’s report.
Dodd-Frank Act mandates new corporate governance and executive compensation requirements (July 2010) resource Articles OCEG Reviewed
Introduction: On July 21, 2010, President Obama signed into law the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Act”). In addition to changes affecting financial service companies, the Act includes a number of corporate governance and executive compensation provisions that apply to all publicly traded companies (subject to exemptions for smaller issuers).
