Advisers should review Chapter 5 of the standards, since it is applicable to them, and consider which of the proposals are most practical to implement. 

Commissioner Stein makes two disparate observations:

"Why has the asset management industry in this country remained so competitive? There are many reasons, of course. But I believe that chief among them, as I have noted throughout my talk tonight, is that investors have faith in the quality of the product. Although they may not know it, investors are protected by a law called the Investment Company Act of 1940, which ensures that there are basic rules of the road that make these…

By implication and steadfast pursuit of this action, the NY Attorney General is making the case that any investor in a fossil fuel company is contributing to the "damage these companies are doing to our planet." It would be interesting to know what the Attorney General believes that his office should or could do with respect to those investors (or for that matter, suppliers and users) who are said to be contributing to such damage.

Regarding the coal company's statement…

There was never any academic support for Section 716's inclusion within Dodd-Frank, and the section was opposed generally by the banking regulators prior to its adoption. According to contemporaneous press reports - see, e.g.,  - Section 716 was added to Dodd-Frank in order to win the support of then-Senator Blanche Lincoln, whose vote was needed to pass Dodd-Frank.

Regarding Senator Warren's implicit suggestion that swaps should be cleared, we refer to the…