From the controversial Volcker Rule to new mortgage standards, several new regulations will test the effectiveness of U.S. oversight of the financial industry in 2014.
An expert panel — including Bob Dannhauser, CFA, head of capital markets policy at CFA Institute — discusses key regulations affecting the financial industry in the coming year. They examine the impact of the Volcker Rule; what’s next for Fannie Mae and Freddie Mac and likely changes to housing finance; and what’s ahead for Dodd-Frank regulations.
Securities and Exchange Commission Chairman Jay Clayton told the House Financial Services Committee that the agency may extend the deadline for submitting comments on its proposed standard for financial advice beyond the customary 90 days. Clayton said he would decide about extending the Aug. 7 deadline "in August." ThinkAdvisor (free registration) (21 Jun.)
The US Supreme Court has ruled in a 7-2 decision the way the Securities and Exchange Commission appoints administrative law judges is unconstitutional. The SEC employs five administrative law judges, but the ruling might have ramifications for almost 2,000 fellow judges, who consider issues such as patent disputes and trade matters. Reuters (21 Jun.)
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