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financial reform
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Latest Headlines
A call for Glass-Steagall era banking
One undercurrent of thought in this season of financial reform has been the notion that we'd all be better off if we returned to a previous regulatory era.
By that, many people mean that we'd be better off by returning to the days of Glass-Steagall. A recent commentary picks up on that, writin
Lawyer advertises for whistleblowers on Wall Street
Recall that the Dodd-Frank reform bill encouraged whistleblowers to step forward with information about securities fraud committed by their firms. The rewards are substantial . Employees who provide the SEC with original information that leads to a successful enforcement action will now be able
Dodd-Frank leaves much to the regulators
Civil servants have been put on the hot seat when it comes to the Dodd-Frank financial reform bill. The federal bureaucracy has been tasked with much of the real work of reform, which must be performed largely out of the spotlight. While lobbyists and corporate influencers are licking their chops,
Goldman Sachs to spin off private equity arm?
We noted recently that the Volcker Rule, part of the historic Dodd-Frank financial reform law, might have some counterintuitive effects. The rules are sufficiently unformed so that banks that really want to hold onto some alternative investment units would likely be able to do so. At the same tim
The reform effort: Hedge funds and private equity funds
We've suggested that hedge fund and private equity funds have fared pretty well in the reform process leading up to Dodd-Frank. There will likely be some attempts to tax carried interest in the future, as tax issues in general continue to be controversial . But there are some new requirements.
Wells Fargo responds to new regulatory era
The main narrative from banks as the Dodd-Frank regulatory era gets underway is that revenues will take a hit. Brian Moynihan ( Brian Moynihan news), CEO of Bank of America, among others has been driving home that point to analysts. But the picture is clouded by the fact that we do not yet have
Citigroup explores Volcker Rule options
Citigroup ( C ) is exploring a variety of options to comply with the Volcker Rule, which on the surface reduces the amount of proprietary investing a bank can do. One possibility, which has been discussed at other firms, calls for prop traders to be set up as hedge fund managers.
As reported
SEC seeks comments on fiduciary standard vs. suitability
One of the thorniest issues--one laid bare by the Dodd-Frank law--in the wealth management and brokerage industry is whether advisors and brokers should be held to a fiduciary standard. Currently, registered investment advisers must meet that standard, which requires them to act in the best in
Morgan Stanley best positioned to withstand regulatory reform?
Even before the Dodd-Frank bill was passed into law, there's been heavy speculation about which banks would be hit the hardest. There's no way of really knowing because the real shape of reform in a lot of areas--such as the Volcker Rule--will become evident only after many years. Bank lobbyists w
Wall Street titans not invited to reform bill signing
Perhaps people were afraid they would heckle the president from the cheap seats. Should we be surprised that the likes of Morgan Stanley CEO James Gorman, Goldman Sachs CEO Lloyd Blankfein ( Lloyd Blankfein news), Wells Fargo CEO John G. Stumpf and even JPMorgan Chase CEO Jamie Dimon ( Jamie D
