DIRS.INFO top alerts submit data jurnalism about API
login
Top related persons:
Andrew Kelly - 1 Dodd Frank - 1 Dodd Frank Wall - 1 Gary Gensler - 1 Hester Peirce - 1 Goldman Sachs - 1 Douglas Gillison - 1 David Gregorio - 1
Top related locs:
Washington ,
Top related orgs:
U.S . Securities - 1 Exchange Commission - 1 Washington , D.C - 1 REUTERS - 1 SEC - 1 Republican - 1 Senate - 1 Federal Register - 1

Search resuls for: "Dodd Frank"


8 mentions found


☆ Wall St regulator adopts Dodd Frank rule against trader conflicts
  + stars: | 2023-11-27 | by ( ) www.reuters.com   time to read: +2 min
The seal of the U.S. Securities and Exchange Commission (SEC) is seen at their headquarters in Washington, D.C., U.S., May 12, 2021. The SEC move is mandated by the Dodd Frank law, aimed at eradicating behavior seen in the 2008 global financial crisis. The rule is among the last to be adopted under 2010's Dodd Frank Wall Street reform legislation and faced a winding road to completion. Parties covered by the rule include underwriters, placement agents and sponsors for asset-backed securities. The SEC says it will require compliance with the rule for asset-backed securities with closing dates falling 18 months after the rule appears in the Federal Register.
Persons: Andrew Kelly, Dodd Frank, Dodd Frank Wall, Gary Gensler, Hester Peirce, Goldman Sachs, Douglas Gillison, David Gregorio, Marguerita Choy Organizations: U.S . Securities, Exchange Commission, Washington , D.C, REUTERS, SEC, Republican, Senate, Federal Register, Thomson Locations: Washington ,
☆ Silicon Valley Bank's collapse is looming over the Fed as it makes the next move in its war on inflation this week
  + stars: | 2023-03-21 | by ( Ayelet Sheffey | ) www.businessinsider.com   time to read: +5 min
Democrats have been targeting Fed Chair Powell over his role in the bank's shutdown. The first is to remind Chair Powell: he has a dual mandate. Her second point, she said, was that raising interest rates does not solve issues like price gouging or the Ukraine invasion. During a Senate hearing earlier this month, Powell responded to Warren's questioning on interest rates costing jobs. "Will working people be better off if we just walk away from our jobs and inflation remains 5%-6%?"
☆ Elizabeth Warren scoffs at the idea that banks like SVB can be trusted to do their own stress testing: 'I taught school for many, many years. And I did not let my students do their own testing'
  + stars: | 2023-03-15 | by ( Jason Lalljee | ) www.businessinsider.com   time to read: +4 min
She's criticized Trump-era rollbacks on banking oversight for making the SVB failure possible. "Those are much smaller than the bigger banks," CNBC host Sara Eisen said to Warren, referring to banks like SVB. "We've had a number of those CEOs on the shows in the last few days" such as Charles Schwab, she said, who "do their own stress testing." The whole point of stress testing is for someone on the outside of the bank to say, 'what could go wrong here?' What happened to SVB, Warren wrote, is "the direct result of leaders in Washington weakening the financial rules."
☆ Warren unveils bill to repeal Trump-era bank deregulation she says led to SVB, Signature collapses
  + stars: | 2023-03-14 | by ( Christina Wilkie | ) www.cnbc.com   time to read: +2 min
Senator Elizabeth Warren (D-MA) speaks to reporters about codifying gay marriage on Capitol Hill in Washington, September 15, 2022. WASHINGTON — A group of Democratic senators introduced new legislation Tuesday to repeal Trump-era bank deregulations they say created the conditions that allowed for the dramatic collapse of Silicon Valley Bank and the closure of Signature Bank since Friday. Right away, mid-sized banks, including SVB, began lobbying Congress for an exemption from the tighter oversight rule. On the Senate floor Tuesday, Democratic Sen. Elizabeth Warren, Mass., drew a straight line from the 2018 deregulation effort to the 2023 failure of SVB and Signature. "The weakened rules permitted banks like SVB and Signature to load up on risks, run up their profits, pay their executives, giant bonuses, and eventually blow the banks to pieces," said Warren.
☆ Biden vows new bank rules after SVB collapse, cites Trump rollback
  + stars: | 2023-03-13 | by ( Trevor Hunnicutt | ) www.reuters.com   time to read: +4 min
"Americans can have confidence that the banking system is safe. The managers of the banks will be fired, Biden noted, and investors will lose money. Biden also promised new regulation after the biggest U.S. bank failure since the 2008 financial crisis. The U.S. Federal Deposit Insurance Corporation on Monday said it had transferred all Silicon Valley Bank (SIVB.O) deposits to a newly created bridge bank and that all depositors would have access to their money beginning Monday morning. Silicon Valley bank had $209 billion in assets at the end of last year.
☆ Elizabeth Warren criticizes 'overnight' bailout of SVB customers while leaving 'millions of student loan borrowers in limbo'
  + stars: | 2023-03-13 | by ( Ayelet Sheffey | ) www.businessinsider.com   time to read: +4 min
Sen. Warren criticized SVB customer protections as millions of student-loan borrowers are "in limbo." Borrowers have yet to get broad relief and are waiting for the Supreme Court to rule on the legality of Biden's debt cancellation. Warren has long pushed for stricter oversight over big banks, along with protections for student-loan borrowers. Regulators' protections for SVB customers come as millions of borrowers are waiting for the Supreme Court to decide whether President Joe Biden's plan to cancel up to $20,000 in student debt is legal. It's unclear whether borrowers will end up getting the "bailout" GOP lawmakers oppose, but for now, Warren wants to ensure big banks won't be able to escape regulation.
☆ U.S. targets '08 crisis trader conflicts in new rule, decade after 1st try
  + stars: | 2023-01-25 | by ( Douglas Gillison | ) www.reuters.com   time to read: +4 min
The rule is among the last to be adopted under the landmark Dodd Frank Wall Street reform legislation of 2010, according to SEC officials. An earlier version of the conflicts rule first proposed in 2011 was never finalized. SEC officials say it would provide exceptions for legitimate activities, such as hedging to mitigate risk, market-making and meeting liquidity commitments. Better Markets, an advocacy organization that promotes more strict financial sector regulation, welcomed Wednesday's rule proposal but vowed to study it. Without citing prominent recent examples of such conflicts of interest in the asset-backed securities market, SEC officials said the conflicts rule was needed to remove the opportunity and incentive for such conduct.
☆ SEC readies Wall Street 'conflicts' rule, a decade after first try
  + stars: | 2023-01-25 | by ( Douglas Gillison | ) www.reuters.com   time to read: +3 min
An earlier version of the conflicts rule first proposed in 2011 was never finalized. When made effective with an SEC rule, the section would prohibit traders from betting against asset-backed securities they sold to investors. According to SEC officials, the rule would ban such actions for up to a year following sale of the securities. According to SEC officials, traders who disclosed bets contrary to clients' investments would still run foul of the rule. Without citing prominent recent examples of such conflicts of interest in the asset-backed securities market, SEC officials said the conflicts rule was needed to remove the opportunity and incentive for such conduct.
0 next >>
Total: 8