News & Insights

566 News Results
February 09, 2011

February 7, 2011 The FDIC today approved a joint proposed rulemaking to implement Section 956 of Dodd-Frank. Section 956 prohibits incentive-based compensation arrangements that encourage inappropriate risk taking by covered financial institutions and are deemed to be excessive, or that may lead to material losses. Cross References Press Release Notice of Proposed Rulemaking

March 07, 2011

SR-FINRA-2011-13 March 4, 2011 FINRA submitted to the SEC a proposal to establish a new registration category and qualification requirements for certain operations personnel. The proposal would create a new registration category of "Operations Professional," and would make persons covered by the rule subject to a qualification examination and status as an "associated person" under the FINRA rules. The rule would cover (1) senior management with certain operations functions; (2) supervisors and other persons responsible for authorizing certain operations functions; and (3) persons with the

March 28, 2011

SEC Release No. 34-6413 1 [SR-NYSE-2011-12] March 28, 2011 The SEC declared immediately effective an NYSE proposal to delete NYSE Rule 346 and adopt new Rule 3270 to correspond with certain rule changes from FINRA. The change relates to FINRA's adoption of new FINRA Rule 3270 regarding outside business activities of registered persons. Cross References NYSE Rule 346 FINRA Rule 3270 SEC Release No. 34-62762 (approving FINRA rule proposal)

April 05, 2011

SEC Release No. 33-9199, 34-64149 March 30, 2011 The SEC proposed new rules to implement Exchange Act Section 10C (as added by Section 952 of Dodd-Frank). The new rules would direct national securities exchanges and associations to prohibit the listing of equity securities of issuers that are not in compliance with Section 10C 's standards for compensation committees and compensation advisers. Comments on the proposal are due by April 29, 2011. Cross References SEC Press Release 2011-78 Exchange Act § 10C Dodd-Frank § 952 Statements of SEC Commissioners: Schapiro , Casey , Paredes , Aguilar

April 05, 2011

SEC Release 34-64140 March 29, 2011 Pursuant to Section 956 of the Dodd-Frank Act, federal financial regulatory agencies published for comment a proposal to prohibit incentive-based payment arrangements (or any feature of such arrangements) at financial institutions determined to encourage inappropriate risks by a financial institution that could lead to material losses. The proposal would generally apply to financial institutions with more than $1 billion in assets, and would require compensation arrangements that are consistent with three principles: (1) that incentive compensation