"The Dodd-Frank Act: Commentary"

CFTC Compliance Dates Timeline As of April 19, 2013

April 22, 2013 | Skadden, Arps, Slate, Meagher & Flom LLP | Mark D. Young, Maureen A. Donley, Rachel Kaplan Reicher, Elizabeth A. Doyle, Ryan K. Elsey, Prashina J. Gagoomal, Theodore M. Kneller, Daniel S. Konar II

Over the past two and a half years, the Commodity Futures Trading Commission (CFTC) has adopted many rules to implement Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act, which establishes a comprehensive regulatory regime for swaps. This chart identifies certain CFTC swap...

ISDA Dodd-Frank Protocol Update: ISDA Requests the CFTC to Delay Compliance With Business Conduct Standards Rules

December 3, 2012 | Skadden, Arps, Slate, Meagher & Flom LLP | Mark D. Young, Maureen A. Donley, Prashina J. Gagoomal, Theodore M. Kneller

The Commodity Futures Trading Commission’s (CFTC) external business conduct standards (BCS) for swaps require compliance for registered swap dealers by January 1, 2013.1 To facilitate compliance with the BCS rules, the International Swaps and Derivatives Association, Inc. (ISDA) published the...

Court Vacates CFTC Position Limit Rules

October 2, 2012 | Skadden, Arps, Slate, Meagher & Flom LLP | Mark D. Young, Maureen A. Donley, Prashina J. Gagoomal

On September 28, 2012, Judge Robert Wilkins of the U.S. District Court for the District of Columbia granted the summary judgment motion of the International Swaps and Derivatives Association and Securities Industry and Financial Markets Association (collectively, Plaintiffs) to vacate and remand...

NYSE and Nasdaq Propose New Compensation Committee Rules

Originally Published October 1; Updated October 2 | Skadden, Arps, Slate, Meagher & Flom LLP | Brian V. Breheny, Marc S. Gerber, Richard J. Grossman, Neil M. Leff, Regina Olshan, Erica Schohn, Joseph M. Yaffe, Stuart N. Alperin

Pursuant to the Dodd-Frank Act and related SEC rules, the New York Stock Exchange (NYSE) and the Nasdaq Stock Market (Nasdaq) recently proposed amendments to their respective listing requirements relating to compensation committees of listed companies. Specifically, the proposed amendments: ...

SEC Adopts Conflict Minerals Rules

September 5, 2012 | Skadden, Arps, Slate, Meagher & Flom LLP | Brian V. Breheny, Marc S. Gerber

On August 22, 2012, the SEC adopted final rules to implement the conflict minerals provisions in Section 1502 of the Dodd-Frank Act, which require companies to make disclosures concerning their use of conflict minerals originating in the Democratic Republic of the Congo and adjoining countries....

SEC Makes Its First Award Under the Dodd-Frank Whistleblower Program

August 22, 2012 | Skadden, Arps, Slate, Meagher & Flom LLP | Erich T. Schwartz, Charles F. Walker, Colin D. Forbes

The Award On August 21, 2012, the Securities and Exchange Commission (SEC) issued its much-anticipated first award under its new whistleblower program.1 The whistleblower, who chose to remain anonymous, will receive nearly $50,000, representing the statutory maximum of 30 percent of the amount...

Executive Compensation and Benefits Alert: The JOBS Act – Executive Compensation Reporting Implications and Opportunities

April 25, 2012 | Skadden, Arps, Slate, Meagher & Flom LLP | Neil M. Leff, Regina Olshan, Erica Schohn, Joseph M. Yaffe, Stuart N. Alperin, Alessandra K. Murata

On April 5, 2012, President Obama signed into law the Jumpstart Our Business Startups Act. The JOBS Act consists of a package of bills intended to make it easier for smaller companies to raise public and private capital in the U.S. financial markets. A general summary of the JOBS Act is available...

Consumer Financial Protection Bureau Inquiry Into Overdraft Fees Highlights Focus on 'Unfair, Deceptive, or Abusive' Acts or Practices

April 12, 2012 | Skadden, Arps, Slate, Meagher & Flom LLP | Joseph L. Barloon, Anand S. Raman, Austin K. Brown, Darren M. Welch

The Consumer Financial Protection Bureau is in the midst of a comprehensive effort to obtain comments, proposals, and data from both consumer groups and financial institutions relating to bank account overdraft protection programs. The Bureau’s inquiry is the latest in a series of actions by...

CFTC Adopts Internal Business Conduct Standards for Swap Dealers and Major Swap Participants

March 12, 2012 | Skadden, Arps, Slate, Meagher & Flom LLP | Mark D. Young, Rachel Kaplan Reicher, Grey A. Tanzi

On February 23, 2012, by a 3-2 vote, the Commodity Futures Trading Commission (CFTC) adopted rules (the Rules) to implement an array of swap reforms called for by six different sections of the Commodity Exchange Act (CEA), as amended by the Dodd-Frank Act: CEA §§ 4s(f) and (g) (imposing...

CFTC Proposes Minimum Block Trade Sizes and Swap Counterparty Identity Protections

March 6, 2012 | Skadden, Arps, Slate, Meagher & Flom LLP | Mark D. Young, Rachel Kaplan Reicher, George M. Gilbert

On February 23, 2012, by a 3-2 vote, the Commodity Futures Trading Commission (CFTC) proposed rules (the Proposal) to set the block trading levels for swaps and to prevent identity disclosure of swap counterparties. On December 20, 2011, the CFTC adopted rules to implement for swaps the real-time...

The CFTC’s New Business Conduct Standards

February 17, 2012 | Skadden, Arps, Slate, Meagher & Flom LLP | Mark D. Young, Maureen A. Donley, David C. Olstein, Rachel Kaplan Reicher, Prashina J. Gagoomal

The Commodity Futures Trading Commission (CFTC) published in the Federal Register final rules imposing business conduct standards (BCS) on swap dealers (SDs) and major swap participants (MSPs). See Business Conduct Standards for Swap Dealers and Major Swap Participants With Counterparties, 77 Fed....

Registration of Advisory Entities Affiliated With a Registered Investment Adviser

February 13, 2012 | Skadden, Arps, Slate, Meagher & Flom LLP | Heather Cruz, Lawrence D. Frishman, Anastasia T. Rockas, Andrew Deas

On January 18, 2012, the Division of Investment Management of the Securities and Exchange Commission (the “SEC”) issued a no-action letter (the “No-Action Letter”)1 in response to a request from the American Bar Association’s Subcommittee on Hedge Funds (the “ABA...