Regulation articles

Lemonade for Banker’s Pay Cap

Lemonade for Banker’s Pay Cap

Note:  click on term to see definition Beyonce’s Sipping Lemonade This weekend, Beyonce served up the largest pitcher of LEMONADE I’ve ever seen.  In case you didn’t catch the show on HBO or missed the avalanche of publicity which followed, I’ll spill some 411.  Beyonce is mad at her husband Jay-Z because he (allegedly) had

regulation reform without consequences

Enforcing Wall Street Reform

Regulations are Boundaries Rules are important.  Regulations are important.  Boundaries of acceptable actions are important.  Just as the rules  guiding the behavior of a child, regulations are boundaries.  Telling a child they have to finish their meal and if they don’t finish, they won’t have dessert. Giving a teenager a curfew which if broken will result

the difference between banks and insurance companies

Difference Between Banks & Insurance Companies

When I consider the FSOC’s SIFI Designation for non-banks I’m reminded of two things:  1) The Difference Between Banks & Insurance Companies 2) I’m reminded of the joke: “Do you know the difference between an elephant and a dozen eggs?” “No, what’s the difference” “Well if you don’t know, remind me never to send you to the store

SIFI Designation

SIFI Designation

The SIFI Designation for Non-Bank Financial Companies (NFC) A veritable pot of alphabet soup was put together by the FSOC to handle the task of designating non financial companies as SIFI’s. eight regulators: OCC, FDIC, CFPB, FHFA, FRB, NCUA, CFTC & SEC, one independent member with insurance “expertise” and five non-voting members. Three-Stage Evaluation The

KYC Registry means central source for client data

KYC Registry Means Central Source for Client Data

6 Key Banks Signed up for Global KYS Registry Swift, the global messaging system, has entered into a memorandum of understanding with 6 key banks (Bank of America Merrill Lynch, Citibank, Commerzbank, J.P. Morgan, Societe Generale & Standard Chartered) to develop Swift’s KYC (Know Your Customer) Registry. The KYC Registry means central source for client data,

Dodd Frank Scorecard July 2012

Dodd Frank Scorecard July 2012

Revisions and final rules for Dodd Frank Title VII moves forward at a snails pace.  But forward movement is better than no movement at all.  The Dodd Frank Scorecard July 2012 highlights are: Dodd Frank Deadlines  221 Dodd-Frank deadlines have passed. 140 (63%) passed without a final rule and 81 (37%) have been met with