Monday, January 25, 2010

Posts by Topic

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