Obama Proposes OTC Derivatives Reform: The Obama administration sent suggested wording for legislation that will regulate OTC derivatives, including credit default swaps (CDS), to Congress. The plan calls for OTC derivatives markets to be “comprehensively regulated for the first time.” Read more.
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New BLOG: Regulatory Reason
WealthManagerWeb is delighted to introduce a new blog on re-regulation and compliance by Knut A. Rostad.
Disclosures and Evoking the Lewis Liman Defense: U.S. District Judge Jed Rakoff wants to find out why the SEC accepted a $33 million settlement in light of its allegations that Bank of America failed to disclose that bonus payments were authorized for up to $5.8 billion. Rakoff called the fine “strangely askew.” Read more.