Below is a list of recent posts from 2010 organized by topic. Older posts are searchable through the search function on the main blog page.
Accounting and Auditing
FSA Chair Says Bank Fair Value and Loan Loss Accounting Can Add to Systemic Risk; Notes Tension Between Banking and Securities Regulators
SEC Approves PCAOB Standard on Engagement Quality Review
Financial Crisis Advisory Group Reports to G-20 on Convergence of Accounting Standards
PCAOB Internal Report Reveals Significant Challenges to Board's International Inspections Program
Industry Groups Ask Supreme Court to Overturn Ruling that IRS Can Obtain Tax Work Papers for Financial Statements
Two CFOs Named to IASB to Bring Practical Experience in Preparing Financial Statements
European Commission Allows Exchange of Audit Work Papers with Swiss, Japanese and Canadian Audit Overseers; Now Looks to PCAOB
Blue Sky and State Law Matters
NASAA Reiterates Call for Strong Fiduciary Standard
Kentucky Sets Forth Minimum Recommended Disclosures for Switching Transactions
Mississippi Issues Temporary Rules to Align with New Act
Washington State Proposes Amendments to Mortgage Paper Securities Rules
Brokers
2nd Circuit Affirms Fund Conflicts Dismissal
Corporate Governance
Audit Firm Governance Code Adopted in UK
Leading German Companies Implement Shareholder Advisory Vote on Management Compensation
SEC Amends Proxy Rules to Implement Dodd Amendment Say-on-Pay Mandate for TARP Companies
Council of Institutional Investors Urges Senate Banking Committee to Craft Strong Corporate Governance Provisions
SEC-Approved Revised NYSE Corporate Governance Listing Standards Take Effect January 1, 2010
UK FSA Proposes Enhanced Corporate Governance Regime
Irish Officials Urge Systemic Approach to Corporate Governance while Retaining Comply or Explain Code
Derivatives
NY Fed Study Says Derivatives Clearing Houses May Themselves Pose a Systemic Risk to the Financial Markets
House and Senate Reform Bills Deal With International Nature of Derivatives Regulation
CFTC Set to Propose Energy Position Limits and House Legislation Would Expand Authority
EU Companies Ask for Risk Hedging Exemption in Derivatives Legislation
EC President Calls for Passage of Derivatives Reform Legislation in 2010
Hong Kong SFC Official Examines Investor Protection Proposals and Outlines Renminbi-Denominated Derivatives
Enforcement Matters
SEC Reorganizes Enforcement Division, Revises Manual on Cooperation
Hedge Fund Industry Supports EU OTC Derivatives Legislation; Wants CCP Global Competition
Executive Compensation
SEC and Congress Put Spotlight on Executive Compensation Consultants
SEC Amends Proxy Rules to Implement Dodd Amendment Say-on-Pay Mandate for TARP Companies
Financial Services
Financial Stability Board Welcomes Obama Proposal on Bank Proprietary Trading As It Readies Similar Proposal for G-20
FSA Chair Says Bank Fair Value and Loan Loss Accounting Can Add to Systemic Risk; Notes Tension Between Banking and Securities Regulators
Financial Crisis Inquiry Commission Hearings Reveal Broad Support for Legislation to Regulate OTC Derivatives
President Obama Proposes Legislation Prohibiting Financial Institutions Involvement with Hedge Funds
NY Fed Study Says Derivatives Clearing Houses May Themselves Pose a Systemic Risk to the Financial Markets
Key Senate Banking Committee Member Questions Treasury on Fannie and Freddie
House-Senate Oversight Chairs Support Obama Proposed Fee on Large Banks and Securities Firms
Obama Proposes Financial Crisis Responsibility Fee on Wall Street Firms as House Bill Would Tax Financial Transactions
SEC Amends Proxy Rules to Implement Dodd Amendment Say-on-Pay Mandate for TARP Companies
New EU Commissioner for Internal Market Pledges to Complete Financial Reform Legislation
UK FSA Mandates Reverse Stress Testing in New Stress Testing Regime
Central Bank Chief Lists Elements for Early Detection of Systemic Risk for European Systemic Risk Board
House and Senate Reform Bills Deal With International Nature of Derivatives Regulation
Council of Institutional Investors Urges Senate Banking Committee to Craft Strong Corporate Governance Provisions
Council of Institutional Investors Urges Senate Banking Committee to Craft Strong Corporate Governance Provisions
American Bankers Association Opposes Consumer Financial Protection Ageny and Pre-Funded Dissolution Fund
Fund "Carve In" for Resolution Fund Remains in House Bill as Passed
Financial Stability Board Welcomes Obama Proposal on Bank Proprietary Trading As It Readies Similar Proposal for G-20
Global Consensus Building For Legislation to Reform and Restart Securitization Markets
Securitization "Skin in the Game" Requirement in Reform Legislation May Be Problematic
Fraud
Court Rejects Media Defense in Bank of America Case
Hedge Funds
President Obama Proposes Legislation Prohibiting Financial Institutions Involvement with Hedge Funds
Legislation Ending Hedge Fund Managers Carried Interest Failed at Close of 2009
Fund "Carve In" for Resolution Fund Remains in House Bill as Passed
Obama-Volcker Proposals Separating Banks and Hedge Funds Gain International Backing
Hedge Fund Industry Supports EU OTC Derivatives Legislation; Wants CCP Global Competition
Jobs Bill Would Establish New Reporting Regime for Foreign Financial Institutions with US Investors, Including Hedge Funds and Private Equity Funds
International Issues
Financial Stability Board Welcomes Obama Proposal on Bank Proprietary Trading As It Readies Similar Proposal for G-20
Audit Firm Governance Code Adopted in UK
UK FSA "Dear CEO" Letter to Investment Firms Faults Compliance with Principle on Protecting Client Assets
Leading German Companies Implement Shareholder Advisory Vote on Management Compensation
New EU Commissioner for Internal Market Pledges to Complete Financial Reform Legislation
UK FSA Mandates Reverse Stress Testing in New Stress Testing Regime
Central Bank Chief Lists Elements for Early Detection of Systemic Risk for European Systemic Risk Board
Financial Crisis Advisory Group Reports to G-20 on Convergence of Accounting Standards
EU Companies Ask for Risk Hedging Exemption in Derivatives Legislation
EC President Calls for Passage of Derivatives Reform Legislation in 2010
FSA Chair Says Bank Fair Value and Loan Loss Accounting Can Add to Systemic Risk; Notes Tension Between Banking and Securities Regulators
Financial Stability Board Welcomes Obama Proposal on Bank Proprietary Trading As It Readies Similar Proposal for G-20
Oral Argument Set and Merits Brief Filed in Supreme Court Case Involving Extraterritorial Reach of US Securities Laws
SEC, FSA Officials Meet to Continue Strategic Dialogue
Obama-Volcker Proposals Separating Banks and Hedge Funds Gain International Backing
UK FSA Proposes Enhanced Corporate Governance Regime
Irish Officials Urge Systemic Approach to Corporate Governance while Retaining Comply or Explain Code
Two CFOs Named to IASB to Bring Practical Experience in Preparing Financial Statements
Hedge Fund Industry Supports EU OTC Derivatives Legislation; Wants CCP Global Competition
Hong Kong SFC Official Examines Investor Protection Proposals and Outlines Renminbi-Denominated Derivatives
UK Supreme Court Rules Market Value of Managing Director's Securities Did Not Have to Account for Special Employment-Related Price
European Commission Allows Exchange of Audit Work Papers with Swiss, Japanese and Canadian Audit Overseers; Now Looks to PCAOB
Global Consensus Building For Legislation to Reform and Restart Securitization Markets
Jobs Bill Would Establish New Reporting Regime for Foreign Financial Institutions with US Investors, Including Hedge Funds and Private Equity Funds
Investment Companies
Commission Strengthens Money Market Regulations
Jobs Bill Would Establish New Reporting Regime for Foreign Financial Institutions with US Investors, Including Hedge Funds and Private Equity Funds
Legislative Matters
Financial Crisis Inquiry Commission Hearings Reveal Broad Support for Legislation to Regulate OTC Derivatives
President Obama Proposes Legislation Prohibiting Financial Institutions Involvement with Hedge Funds
Key Senate Banking Committee Member Questions Treasury on Fannie and Freddie
House-Senate Oversight Chairs Support Obama Proposed Fee on Large Banks and Securities Firms
Obama Proposes Financial Crisis Responsibility Fee on Wall Street Firms as House Bill Would Tax Financial Transactions
SEC and Congress Put Spotlight on Executive Compensation Consultants
House and Senate Reform Bills Deal With International Nature of Derivatives Regulation
Council of Institutional Investors Urges Senate Banking Committee to Craft Strong Corporate Governance Provisions
Legislation Ending Hedge Fund Managers Carried Interest Failed at Close of 2009
American Bankers Association Opposes Consumer Financial Protection Ageny and Pre-Funded Dissolution Fund
Fund "Carve In" for Resolution Fund Remains in House Bill as Passed
Securitization "Skin in the Game" Requirement in Reform Legislation May Be Problematic
Jobs Bill Would Establish New Reporting Regime for Foreign Financial Institutions with US Investors, Including Hedge Funds and Private Equity Funds
Litigation
Claim that Hedge Funds Filed False 13Ds with SEC as Part of Creeping Takeover Goes Forward in Delaware Court
Sarbanes-Oxley Whistleblower Entitled to Federal Court De Novo Review if No Timely DOL Final Decision
SEC Delays Effective Date of Rule 151A on Fixed Index Annuities as It Works to Cure Analysis on DC Circuit Remand
Public Policy May Compel Supreme Court to Review Ruling that Audit Work Papers Discoverable by IRS Since Done for SEC-Filed Financial Statements
Supreme Court Asked to Review First Circuit Ruling that Audit Work Papers Discoverable by IRS Since Done for SEC-Mandated Financial Statements
Court Rejects Media Defense in Bank of America Case
Oral Argument Set and Merits Brief Filed in Supreme Court Case Involving Extraterritorial Reach of US Securities Laws
2nd Circuit Affirms Fund Conflicts Dismissal
Industry Groups Ask Supreme Court to Overturn Ruling that IRS Can Obtain Tax Work Papers for Financial Statements
UK Supreme Court Rules Market Value of Managing Director's Securities Did Not Have to Account for Special Employment-Related Price
Proxies
SEC Amends Proxy Rules to Implement Dodd Amendment Say-on-Pay Mandate for TARP Companies
SEC Staff Updates Interpretations under Reg. S-K and Enhanced Proxy Dislcosure Transition
Public Company Accounting Oversight Board
SEC Approves PCAOB Standard on Engagement Quality Review
PCAOB Internal Report Reveals Significant Challenges to Board's International Inspections Program
European Commission Allows Exchange of Audit Work Papers with Swiss, Japanese and Canadian Audit Overseers; Now Looks to PCAOB
Sarbanes-Oxley Act
Sarbanes-Oxley Whistleblower Entitled to Federal Court De Novo Review if No Timely DOL Final Decision
Securities and Exchange Commission
SEC Approves PCAOB Standard on Engagement Quality Review
SEC Delays Effective Date of Rule 151A on Fixed Index Annuities as It Works to Cure Analysis on DC Circuit Remand
SEC Reorganizes Enforcement Division, Revises Manual on Cooperation
SEC and Congress Put Spotlight on Executive Compensation Consultants
SEC Amends Proxy Rules to Implement Dodd Amendment Say-on-Pay Mandate for TARP Companies
SEC Staff Updates Interpretations under Reg. S-K and Enhanced Proxy Dislcosure Transition
Commission Strengthens Money Market Regulations
SEC, FSA Officials Meet to Continue Strategic Dialogue
Tax Matters
Public Policy May Compel Supreme Court to Review Ruling that Audit Work Papers Discoverable by IRS Since Done for SEC-Filed Financial Statements
Supreme Court Asked to Review First Circuit Ruling that Audit Work Papers Discoverable by IRS Since Done for SEC-Mandated Financial Statements
Legislation Ending Hedge Fund Managers Carried Interest Failed at Close of 2009
Industry Groups Ask Supreme Court to Overturn Ruling that IRS Can Obtain Tax Work Papers for Financial Statements
Jobs Bill Would Establish New Reporting Regime for Foreign Financial Institutions with US Investors, Including Hedge Funds and Private Equity Funds