Samstag, 29. Januar 2011

Implementing the Dodd-Frank Wall Street Reform and Consumer protection Act

“This law creates a new, more effective regulatory structure, fills a host of regulatory gaps, brings greater public transparency and market accountability to the financial system and gives investors important protections and greater input into corporate governance.”
SEC Chairman Mary L. Schapiro

Most Recent Accomplishments

Proposed rule to revise the “accredited investor” standard.

The proposed amendments would exclude the value of an individual's primary residence in calculating net worth when determining accredited investor status and would clarify the treatment of any indebtedness secured by the residence in the net worth calculation. (January 25, 2011) [§413]

Adopted rules concerning shareholder approval of executive compensation and "golden parachute" compensation arrangements.

The new rules specify that say-on-pay votes required under the Dodd-Frank Act must occur at least once every three years and that companies are required to hold a "frequency" vote at least once every six years in order to allow shareholders to decide how often they would like to be presented with the say-on-pay vote. (January 25, 2011) [§951]

Adopted rules regarding the use of representations and warranties in the asset-backed securities market: The rules require issuers of asset-backed securities to disclose the history of the requests they received and repurchases they made related to their outstanding asset-backed securities. (January 20, 2011) [§943]

Adopted rules regarding asset-backed securities’ issuers’ responsibilities to conduct and disclose a review of the assets: The rules require issuers of asset-backed securities to conduct a review of the assets underlying those securities and make certain disclosures about those reviews. (January 20, 2011) [§945]

Adopted streamlined procedural rules regarding filings by self-regulatory organizations: The rules of practice describe the process the Commission will use when it decides to hold hearings to consider rules proposed by self regulatory organizations and the Public Company Accounting Oversight Board. (January 14, 2011) [§916]

Proposed Rule for the Timely Acknowledgment and Verification of Security-Based Swap Transactions: The Commission voted to propose a rule governing the way in which certain security-based swap transactions are acknowledged and verified by the parties who enter into them. (January 14, 2011) [§763]

See All Accomplishments to Date

Upcoming Activity

Dates to be Determined


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