Blog Entries tagged 'financial reform bill' Blog Entries tagged 'financial reform bill' Tue, 14 May 2013 12:12:46 +0100 FeedCreator 1.7.2 FinReg bill reduces transparency

Some of the more interesting features of the new financial reform bill are the overlooked provisions that received virtually no attention before President Obama signed it.

Perhaps the most disturbing: The Securities and Exchange Commission is no longer required to comply with most requests for information, including those filed under the Freedom of Information Act.

According to FOX Business Network, the new law exempts the regulator from disclosing records or information der [...] Tue, 27 Jul 2010 23:00:00 +0100 Securities and Exchange Commission Freedom of Information Act FOIA financial reform bill compliance Retailers get boost from debit card changes

Visa and Mastercard dodged a major bullet as the financial reform signed into law last week didn't regulate debit card network fees, which they collect for each debit card swipe processed through their payment networks. However, the new law will likely reduce debit interchange fees, the fees that merchants pay to banks to process debit card payments from consumers.

As a result, although banks will be negatively impacted by a reduction in debit card fees they receive from merchants, [...] Sun, 25 Jul 2010 23:00:00 +0100 Risk reform financial reform bill debit Deals credit card compliance Banks FinReg bill could lead to more bribery cases

Warning to Corporate America: Brace for a surge in bribery accusations.

The whistleblower provisions of the financial regulation bill signed by President Obama on Wednesday could lead to an increase in enforcement of the Foreign Corrupt Practices Act (FCPA), says law firm Morrison & Foerster.

As Ron Fink noted earlier, the new financial reform bill has four provisions strengthening whistleblower rights, including financial incentives and legal protection against re [...] Wed, 21 Jul 2010 23:00:00 +0100 whistleblower foreign corrupt practices act financial reform bill FCPA compliance Banks not united against financial reform

During 2009 and the first quarter of 2010, 850 businesses and organizations spent $1.3 billion to lobby elected officials on Capitol Hill. While the disclosure forms don't show the exact amount allocated just to financial system reform, it's likely that the subject accounted for several hundred million dollars of the total, according to the Center for Public Integrity.

So it may come as a surprise to find that not all businesses are dead-set against all propo [...] Thu, 08 Jul 2010 23:00:00 +0100 wall street ICBA financial reform bill financial reform Banks banking reform Is a small-business amendment to the financial reform bill helpful or hurtful?

The financial reform bill contains a small-business related amendment  that hasn't received a lot of attention. And it's either very small-business friendly or very unfriendly, depending on whom you listen to.

Sponsored by Senator Olympia Snowe of Maine, the ranking Republican on the Small Business Committee, it directs the new Consumer Financial Protection Bureau to take into account how proposed regulations would affect the cost of cre [...] Thu, 01 Jul 2010 23:00:00 +0100 small business In compliance financial reform bill Consumer Financial Protection Bureau AIG vs. Goldman reveals the flaw in financial reform

The latest revelations  concerning the dispute between AIG and Goldman over collateral show how weak the new financial reform package really is.

After all, Goldman's demands for collateral from AIG as it was failing ended up costing taxpayers billions of dollars. Yet according to the testimony today during the crisis panel's latest hearings, the whole question hinged on what constituted fair value.

 To hear Goldman CFO David Viniar tell it, the Vampire Squid can [...] Wed, 30 Jun 2010 23:00:00 +0100 Risk Regulation Goldman Sachs GAAP financial reform bill financial market reform financial crisis FASB derivatives credit default swaps Congress compliance Banks banking reform Banking bank failures bailout AIG Accounting Companies unprepared for "say-on-pay" provision

Companies are either surprised by the say-on-pay provision in the financial reform bill or dismissing its importance, judging from a new Towers Watson survey.

It found that only 12 percent of respondents said they are very well prepared for the say-on-pay legislation, while 46 percent said they were somewhat prepared. Some 22 percent said they didn't know if their companies were ready.

The financial reform legislation awaiting final action in the House and Senate includes a sa [...] Wed, 30 Jun 2010 23:00:00 +0100 say-on-pay financial reform bill executive compensation career/management