On Friday, July 28, 2017, Treasury Secretary Mnuchin will preside over an executive session of the Financial Stability Oversight Council (Council) at the Treasury Department. The preliminary agenda includes a discussion about...more
In remarks before the Economic Club of New York, new SEC Chairman Jay Clayton discussed eight guiding principles:
Principle #1: The SEC’s mission is our touchstone. Investors and capital markets will suffer if the SEC...more
7/13/2017
/ Best Interest Contract Exemptions ,
Capital Markets ,
Disclosure Requirements ,
Enforcement Actions ,
Fiduciary Rule ,
Financial Institutions ,
Investment ,
Investment Adviser ,
Publicly-Traded Companies ,
Regulatory Oversight ,
Reporting Requirements ,
Retirement Plan ,
Securities and Exchange Commission (SEC)
The U.S. Department of the Treasury yesterday issued its first in a series of reports to President Donald J. Trump examining the United States’ financial regulatory system. Appendix B to the report includes 16 pages of...more
The Board of Governors of the Federal Reserve System has assessed its first penalty for violation of the Volcker Rule against Deutsche Bank AG.
The Volker Rule required Deutsche Bank’s Chief Executive Officer to annually...more
In a Presidential Memorandum, President Trump directed the Secretary of the Treasury, as a member of the Financial Stability Oversight Council, not to cast a nonemergency vote to subject nonbank financial companies to...more
President Trump has issued an Executive Order which requires the head of each agency to designate an agency official as its Regulatory Reform Officer, or RRO. Each RRO will oversee the implementation of regulatory reform...more
President Donald Trump’s Executive Order requiring two regulations be repealed for every new one adopted and related OMB guidance have been challenged in a law suit commenced in the U.S. District Court for the District of...more
2/9/2017
/ Administrative Procedure Act ,
Executive Orders ,
New Regulations ,
NRDC ,
OMB ,
Public Citizen ,
Regulatory Agencies ,
Regulatory Oversight ,
Regulatory Reform ,
Repeal ,
Trump Administration ,
Two For One Rule
OMB’s Office of Information and Regulatory Affairs has provided interim guidance on the requirements in Section 2, “Regulatory Cap for Fiscal Year 2017,” of the Executive Order of January 30, 2017, titled “Reducing Regulation...more
As we reported, the House and Senate have passed a joint resolution under the Congressional Review Act disapproving the SEC Resource Extraction Rule and that President Trump was expected to sign the legislation that...more
2/6/2017
/ Coal ,
Coal Industry ,
Congressional Review Act ,
Department of the Interior ,
Disability ,
Disability Insurance ,
Disclosure Requirements ,
Dodd-Frank ,
Energy Sector ,
Fair Pay and Safe Workplaces ,
Federal Acquisition Regulations (FAR) ,
Federal Contractors ,
Firearms ,
Gun Laws ,
Labor Law Violations ,
Mental Illness ,
Mineral Extraction ,
Natural Resources ,
NICS ,
Oil & Gas ,
Regulatory Oversight ,
Resource Extraction ,
Second Amendment ,
Securities and Exchange Commission (SEC) ,
Social Security Act ,
Social Security Administration (SSA) ,
Trump Administration
Under current law, stockbrokers are only required to recommend suitable investments to their clients. The Department of Labor has issued a so called “fiduciary rule” which requires brokers, advisors and insurance agents, when...more
2/6/2017
/ Best Interest Standard ,
Department of Labor (DOL) ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
Fiduciary Rule ,
Financial Adviser ,
Financial Institutions ,
Investment Adviser ,
Popular ,
Regulatory Oversight ,
Retirement ,
Retirement Plan ,
Trump Administration
President Trump has signed an executive order titled “Presidential Executive Order on Core Principles for Regulating the United States Financial System.“
The “Core Principles” are...more
Fulfilling a campaign promise set forth in President Trump’s Contract with the American Voter, President Trump has signed an executive order to implement a requirement that for every new federal regulation, two existing...more
Reince Priebus, President Trump’s Chief of Staff, issued a memo ordering an immediate regulatory freeze. The memo was addressed to heads of executive departments and agencies. According to the memo...more
We are thrilled to bring you the third installment of Stinson Leonard Street's Emerging Trends newsletter. We are proud of the depth and breadth of experience and knowledge across our firm's 13 offices nationwide and are...more
10/17/2016
/ Acquisitions ,
Americans with Disabilities Act (ADA) ,
Automotive Industry ,
CFTC ,
Chemicals ,
Class Action ,
Confidentiality Agreements ,
Connected Cars ,
Controlling Stockholders ,
Covered Entities ,
Cybersecurity ,
Cybersecurity Framework ,
Data Retention ,
Department of Justice (DOJ) ,
Disability Discrimination ,
Disgorgement ,
Dodd-Frank ,
Drinking Water ,
Driverless Cars ,
Employee Training ,
Enforcement Actions ,
Entire Fairness Standard ,
Fiduciary Duty ,
Financial Institutions ,
Geolocation ,
Incident Response Plans ,
Mergers ,
Mobile Apps ,
New Amendments ,
Niantic Inc. ,
Nintendo ,
NYDFS ,
OEHHA ,
OSHA ,
Pokemon ,
Proposition 65 ,
Public Nuisance ,
Regulatory Oversight ,
Risk Management ,
Safe Harbors ,
Sarbanes-Oxley ,
Securities and Exchange Commission (SEC) ,
Severance Agreements ,
Smartphones ,
Statute of Limitations ,
Technology ,
Teva Pharmaceuticals ,
Third-Party Service Provider ,
Toxic Chemicals ,
Toxic Exposure ,
Vendors ,
Video Games ,
Virtual Reality ,
Warning Labels ,
Website Accessibility ,
Websites ,
Whistleblowers
House Financial Services Committee Chairman Jeb Hensarling (R-TX) unveiled details of the Financial CHOICE Act – the Republican plan to replace the Dodd-Frank Act and promote economic growth. CHOICE stands for Creating Hope...more
6/7/2016
/ Chevron Deference ,
Consumer Financial Protection Bureau (CFPB) ,
Disclosure Requirements ,
Dodd-Frank ,
Financial Institutions ,
FSOC ,
Insider Trading ,
MSRB ,
PCAOB ,
Proposed Legislation ,
Regulatory Oversight ,
Reporting Requirements ,
Securities and Exchange Commission (SEC) ,
Securities Fraud ,
SIFIs
The Financial Stability Oversight Council, or FSOC, released an update of its review of asset management products and activities. The statement notes that its review of the use of leverage in the hedge fund industry suggests...more
A GAO study found the U.S. financial regulatory structure is complex, with responsibilities fragmented among multiple agencies that have overlapping authorities. As a result, financial entities may fall under the regulatory...more
The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency issued an advisory to indicate their support for the principles and...more
The Consumer Financial Protection Bureau, or CFPB, was created to enforce various consumer finance laws like the Equal Credit Opportunity Act, Fair Credit Reporting Act, Fair Debt Collection Practices Act, Home Mortgage...more
9/9/2015
/ Banking Sector ,
Banks ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Lenders ,
Creditors ,
Debt Collectors ,
Depository Institutions ,
Financial Institutions ,
Loans ,
Regulatory Oversight ,
Residential Real Estate Market