@Regulatory Newsletter – May 2009 |
Published
The May issue of @Regulatory addresses a wide range of topics of interest for banking, investment management and securities professionals.
Banking: The Supervisory Capital Assessment Program (SCAP) was designed to ensure that major U.S. banking organizations have sufficient capital to perform their critical role in the financial system on an ongoing basis. It was developed as a stress test to estimate losses, revenues and reserve needs for bank holding companies. “The Supervisory Capital Assessment Program” article gives an overview of SCAP and the different areas included in the review. The June issue of @Regulatory will discuss the results of the stress tests recently completed by 19 bank holding companies.
Investment Management: Wide variances in performance measurement and reporting practices by investment managers often made it difficult for investors to compare performance results of different investment management firms. Since 1987, investment performance standards have been a feature of the industry. The Global Investment Performance Standards (GIPS®) developed in 1999 and used in more than 25 countries worldwide are currently being updated. The investment management article looks at the next generation of industry standards, due to be implemented in 2011.
Securities: Included in the October 2008 Emergency Economic Stabilization Act is a provision that requires brokers to compute the adjusted costs basis of securities sold and determine the nature of the gain or loss. This provision presents a new set of challenges to broker-dealers and transfer agents, which are addressed in “Costs Basis Reporting: What Broker-Dealers and Transfer Agents Should Know.”
We also have highlighted in our News Bulletins selected policy and supervisory guidance issues that are posing challenges across the banking and insurance sectors.
Banking
- Proposed Clarifications to Credit Card Rules
- Term Asset-Backed Securities Loan Facility (TALF) Update
Insurance
- National Insurance Consumer Protection Act
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@Regulatory Newsletter
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