Archive for Dodd-Frank SmartBlogs
SmartBrief caught up with CME Group Executive Chairman and President Terry Duffy this week on the sidelines of the Milken Institute Global Conference. In Part one of this two-part interview, Duffy addressed the evolution of leadership in the exchange world. Today he chats about regulatory reform, the London Interbank Offered Rate and social media.
We are coming up on the three-year anniversary of the Dodd-Frank Act.[…] Continue Reading »
Since virtually the day the Dodd-Frank Wall Street Reform and Consumer Protection Act was enacted, some policymakers and market participants have been working to see elements of the law changed or the entire legislation repealed. Those constituencies have been forced to adjust their tactics in recent months because of unique political winds swirling around the issue of major financial institutions being seen as “too big to fail.”
Lawmakers on both sides of the aisle have voiced their concerns that Dodd-Frank does not do enough to remedy what they see as the threat posed by some of the nation’s largest financial institutions.[…] Continue Reading »
Financial derivatives are sometimes a savior, but in other times, a curse. Although their earliest documented use was in the form of rice futures in the 1700s, they have grown in popularity in recent times for hedging known risks, but have also drawn criticism as a tool of speculation. American International Group, for example, lost $18 billion on credit default swaps during the financial crisis.[…] Continue Reading »
The Committee on Capital Markets Regulation, an independent and nonpartisan 501(c)(3) research organization dedicated to improving regulation of U.S. capital markets, has issued recommendations and alternative proposals for implementation of the Volcker rule. The committee proposed that an approach similar to a flexible one used with respect to investments be used to determine whether the purpose of a trade is hedging, market making or underwriting.[…] Continue Reading »
The U.S. is on the right track with the Financial Accounting Standards Board’s expected-loss model, Tim Bush of Pensions and Investment Research Consultants writes in Financial News: “It is time for the [International Accounting Standards Board] to match the lead taken by the US and deliver accounting rules which help, not hinder, the accurate reflection of the recoverable amount of loans.[…] Continue Reading »
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