@Regulatory - November/December 2009 |
The November/December issue of @Regulatory addresses topics of interest for securities and investment management professionals.
Securities: The historic disruptions in the financial marketplace over the past few years have prompted the Obama administration to reform financial market regulation. This proposed reform includes additional regulations over consumer financial products, bond rating agencies and the creation of a regime for regulating systematic risk across all types of financial service firms. The complex over-the-counter (OTC) derivatives market has drawn considerable attention from the U.S. Congress due to its role in the financial crisis. The systematic risks the OTC derivatives market pose and the lack of transparency have led the U.S. Department of the Treasury, U.S. Congress, the International Swaps and Derivatives Association, European regulators and others to make regulatory reform of the OTC derivatives market a top priority. Currently the U.S. House Financial Services Committee, U.S. House Agricultural Committee and U.S. Senate Banking Committee have proposed bills addressing this market. “Momentum Increasing for Over-the-Counter Derivatives Reform” discusses key provisions and primary differences among the three proposed bills and provides a matrix highlighting some of these provisions and differences.
Investment Management: The U.S. Securities and Exchange Commission (SEC) recently released proposed amendments to Rule 2a-7; amendments designed to increase the resilience of money market funds to market disruptions, protect the stable net asset value (NAV) and improve money market funds’ ability to satisfy significant demand for redemptions. An additional proposed amendment includes enhancing the SEC’s oversight of money market funds by requiring funds to report holdings to the SEC on a monthly basis. In September 2009 an interim final temporary rule was adopted by the SEC as a temporary measure to establish reporting requirements immediately. The proposed key amendments are discussed in “Strengthening the Regulatory Framework of Money Market Funds.”
We also have highlighted in our News Bulletins selected policy and supervisory guidance issues that are posing challenges across the banking sector.
Banking
- Federal Deposit Insurance Corporation Releases New Policy Statement on Prudent Commercial Real Estate Loan Workouts
- Federal Reserve Board Issues Proposed Guidance on Sound Incentive Compensation Policies
Read the full issue in the PDF attached below.
@Regulatory - November/December 2009
(1438.58 KB)
