Archive
Registration
Financial Market Legislation
Senate Passes Insider Trading Bill for Members of Congress
February 06, 2012
Last Thursday, the Senate overwhelmingly (93-7) passed a bill that would prohibit lawmakers and staff from trading on non-public information obtained from private congressional briefings. Whether legislators and staff are already subject to bans on trading non-public information is a matter of debate. Robert Khuzami,… read more
SEC Postpones Broker-Dealer Fiduciary Rule
January 17, 2012
In order to perform additional cost-benefit analysis, the SEC is delaying a new rule proposal that would impose a fiduciary duty on broker-dealers. The rule is authorized by the Dodd-Frank Act and would require broker-dealers to act in the best interest of the customer. This… read more
Analysis: Recent Federal Reserve Proposal to Implement Heightened Prudential Requirements
January 12, 2012
In a recent client publication, Shearman & Sterling summarizes the Federal Reserve's recent proposal to implement heightened prudential requirements for the largest US financial institutions. The proposed rules were required by Dodd-Frank and would require institutions to design and implement compliance, recordkeeping and reporting… read more
SEC Asks Congress for the Authority to Impose Higher Penalties
December 07, 2011
In a recent letter to the Chairman and Ranking Member of the Senate Banking Subcommittee on Securities, Insurance, and Investment, SEC Chairman Mary Schapiro proposed statutory changes that would allow the SEC to levy higher fines on those violating the securities laws. Her proposal included… read more
High Volume of Tips to SEC Whistleblower Program
November 30, 2011
A K&L Gates client alert discusses recently released data on the SEC's new whistleblower program established pursuant to the Dodd-Frank Act. The program makes whistleblowers eligible for rewards if their tips lead to sanctions of more than $1 million. Whistleblowers provided 334 tips to… read more