As noted by the president of the Federal Reserve Bank of Kansas City, the Glass-Steagall Act (“GSA”) was intended to “separate the higher risk, often more leveraged, activities of investment banks from activities tied to the nation’s payments system and … Read More
On April 17, 2012, in testimony before the House Oversight and Government Reform subcommittee, Mary Schapiro advised the SEC to consider rules issued by congressional mandates, as well as rules the SEC develops through its own authority. Schapiro acknowledged the … Read More
Lately, we are receiving many inquiries relating to ERISA fiduciary considerations. Section 3(21)(A) of ERISA defines a “fiduciary” to a plan as persons who fall into any one of the three categories, whether or not they entered into a formal … Read More
The Jumpstart Our Business Startups Act (the “JOBS Act”), which was signed into law by President Obama on April 5, 2012, ushers in significant changes to many of the federal securities laws. In addition to lowering the costs associated with … Read More
On December 8, 2011, the SEC announced that the national compliance seminar for CCOs and senior personnel at investment management firms is open for registration. The Compliance Outreach Program will be held on January 31, 2012, at the SEC’s headquarters … Read More