DC Policy Update: What to Expect after the Midterm Elections (Podcast)
Where financial policy is likely headed after the midterm elections is the topic of this edition of DC Policy Update. Jim Allen, CFA, head of Americas capital markets policy at CFA Institute, hones in on three issues, and whether or not they will fly in Congress:
- Dodd-Frank Act: Efforts are under way in the Senate Judiciary Committee to review Title II: Orderly Liquidation Authority. Committee members are moving toward creating a new chapter in the bankruptcy code that would address the failure of large institutions. If there isn’t a change in Senate leadership in November, we don’t expect this effort to go anywhere for at least another two years.
- SEC User-Fee Amendment: The amendment would give an underfunded SEC the ability to charge investment advisers user fees for examinations. It isn’t likely to pass without some tweaks, and without significant changes to the composition of Congress.
- JOBS Act, Part Two: It’s a conglomeration of several legislative proposals in the US House of Representatives aimed at further relieving regulatory hurdles for small companies. Some of the proposals are already being addressed, such as the SEC’s proposal for a tick size pilot program, XBRL (eXtensible Business Reporting Language), and the PATH Act on mortgage-market reform.
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