Drinking Water: EPA Needs to Collect Information and Consistently Conduct Activities to Protect Underground Sources of Drinking Water, GAO-16-281: Published: Feb 26, 2016. Publicly Released: Mar 28, 2016: “The Environmental Protection Agency (EPA) has not collected specific inspection and complete or consistent enforcement information, or consistently conducted oversight activities, to assess whether state and EPA-managed… Continue Reading
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Search Results for: Dodd-Frank
H.R. 957, Bureau of Consumer Financial Protection – Inspector General Reform Act of 2015
CBO: “H.R. 957 would direct the President to appoint an Inspector General for the Bureau of Consumer Financial Protection (CFPB) within 60 days of enactment, and would require the CFPB to set aside 2 percent of its annual funding to operate the office of the Inspector General. Under the Dodd-Frank Wall Street Reform and Consumer… Continue Reading
Federal Reserve Board releases supervisory scenarios for 2016 Comprehensive Capital Analysis and Review
“The Federal Reserve Board on Thursday, January 28, 2016 released the supervisory scenarios for the 2016 Comprehensive Capital Analysis and Review (CCAR) and Dodd-Frank Act stress test exercises and also issued instructions to firms participating in CCAR. This year, CCAR will include 33 bank holding companies with $50 billion or more in total consolidated assets.… Continue Reading
The Glass – Steagall Act: A Legal and Policy Analysis
CRS – The Glass-Steagall Act: A Legal and Policy Analysis – David H. Carpenter, Legislative Attorney; Edward V. Murphy, Specialist in Financial Economics; M. Maureen Murphy, Legislative Attorney. January 19, 2016. “The phrase “Glass-Steagall” generally refers to the separation of commercial banking from investment banking. Congress effected a separation of commercial and investment banking through… Continue Reading
Regulatory Relief for Banking: Selected Legislation in 114th Congress
Via FAS, CRS report – Regulatory Relief for Banking: Selected Legislation in 114th Congress, January 19, 2016. “The 114th Congress is considering legislation to provide “regulatory relief” for banks. The need for this relief, some argue, results from new regulations introduced in response to vulnerabilities that were identified during the financial crisis that began in… Continue Reading
SEC Issues Annual Staff Reports on Credit Rating Agencies
“The Securities and Exchange Commission issued its two annual staff reports [December 28, 2015] on credit rating agencies registered as nationally recognized statistical rating organizations (NRSROs). The reports show that NRSROs have made operational improvements and have enhanced process accountability, controls and governance, and that smaller NRSROs have made competitive inroads in certain rating categories…The… Continue Reading
Board Identified Areas of Improvement for Supervisory Stress Testing Model Validation Activities
The Board Identified Areas of Improvement for Its Supervisory Stress Testing Model Validation Activities, and Opportunities Exist for Further Enhancement. Board Report: 2015-SR-B-018 October 29, 2015 “The Office of Inspector General conducted this evaluation to assess the extent to which the Board of Governors of the Federal Reserve System’s (Board) model risk management practices in… Continue Reading
Agencies Finalize Swap Margin Rule
“Five federal agencies have issued a final rule to establish capital and margin requirements for swap dealers, major swap participants, security-based swap dealers, and major security-based swap participants regulated by one of the agencies (“covered swap entities”), as required by the Dodd-Frank Act. The final rule, issued by the Farm Credit Administration (FCA), the Federal… Continue Reading
SEC Interpretation of “Whistleblower” Definition
SEC Interpretation of “Whistleblower” Definition Posted by Nicholas S. Goldin, Simpson Thacher & Bartlett LLP, on Sunday, October 4, 2015. “On August 4, 2015, the Securities and Exchange Commission (“SEC”) issued an interpretive release to clarify its reading of the whistleblower rules it promulgated in 2011 under Section 21F of the Securities Exchange Act of… Continue Reading
FDIC Publication Focuses on the Critical Role of Corporate Governance
News release: “The Federal Deposit Insurance Corporation (FDIC) today released the summer 2015 issue of Supervisory Insights. The lead article, “Strategic Planning in an Evolving Earnings Environment,” highlights the critical role of corporate governance and strategic planning in navigating a challenging operating environment. “Although the financial performance of banks is steadily improving, the operating environment… Continue Reading
Agencies Provide Additional Guidance for Certain Resolution Plans
News release: “The Federal Reserve Board and the Federal Deposit Insurance Corporation (FDIC) on Tuesday provided guidance to 119 firms that in December will be filing updated resolution plans. Based on a review of their plans submitted late last year, the agencies are tailoring the requirements for the submissions. Some firms will receive individual feedback… Continue Reading
Regulatory agencies post public sections of resolution plans
“The Federal Reserve Board and the Federal Deposit Insurance Corporation (FDIC) on Monday posted the public portions of annual resolution plans for 12 large financial firms. Each plan must describe the company’s strategy for rapid and orderly resolution under the U.S. Bankruptcy Code in the event of material financial distress or failure of the company.… Continue Reading
