Bitcoin strives to be a secure online medium of exchange that provides anonymity and doesn’t require purchasers to surrender credit card information to sellers. While it is not currently a significant market mover, the virtual currency’s regulatory and legal issues are troubling policymakers.
CFTC’s Mandatory Exchange Trading For Certain Interest Rate Swaps Starts February 15, 2014
On January 16, 2014, staff of the Commodity Futures Trading Commission’s (CFTC) Division of Market Oversight (Division) announced that the first “made-available-to-trade” determination (MAT Determination) will become effective on February 15, 2014.
Europe Reaches Deal on Derivatives Trading
Banks Dodge One Volcker Rule Bullet But Anticipate Another
Banks will avoid a costly, forced divesture of assets after an “interim final rule” was approved by regulators on January 14, exempting certain collateralized debt obligations backed by trust-preferred securities (TruPS CDOs) from ownership restrictions imposed by the Volcker Rule.
Five Federal Agencies Adopt Interim Rule Providing Relief from the Volcker Rule with Respect to Collateralized Debt Obligations that Hold Trust Preferred Securities
The Federal Reserve Board, the OCC, the FDIC, the SEC and the CFTC (collectively, the “Agencies”) adopted an interim final rule (the “Interim Rule”) that provides relief from certain requirements of the Volcker rule for banking entities that hold investments in or that have sponsored issuers of collateralized debt obligations (“CDOs”) backed by trust preferred securities (“TruPS”). (more…)
Will the Supreme Court Further Limit the Powers of Bankruptcy Judges in Executive Benefits?
On Tuesday, January 14, 2014, the Supreme Court heard Executive Benefits Insurance Agency v. Arkison, a case that will settle important questions regarding the limits of bankruptcy judges’ powers.
D.C. Circuit’s Ruling on “Net Neutrality” Creates Waves in Internet Marketplace
The Silicon Valley and Internet companies worldwide are pouring over a landmark decision, released yesterday, by a three-judge panel of federal appellate judges sitting in Washington, D.C.
Compensation Clawbacks and Code Section 409A Acceleration
When the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) became law in 2010, it included a requirement for public companies to recoup, or “clawback,” incentive compensation from executives in the event of certain accounting restatements.
SEC Approves New FINRA Supervision Rules
Financial Industry Regulatory Authority (“FINRA”) rules require broker-dealer members to establish and maintain a system and written procedures to supervise the activities of their personnel, which are reasonably designed to achieve compliance with the federal securities laws and FINRA rules.
Men’s Wearhouse Moving Closer to Jos. A. Bank Takeover
The Fremont, California-based men’s suit retailer has made its second offer to take over its smaller rival, Jos. A. Bank.