An executive overview of the new Financial Regulations Act This book provides an executive summary of the newly passed Financial Regulations Act. It examines the most important sections of the Act, how it impacts the financial industry, as well as what executives must know and do in order to comply with the Act. * One of the first books to provide an executive summary from a compliance perspective * Presents responsibilities of senior level executives regarding this new Act * Reveals what has changed within the regulatory environment * Provides tips and techniques throughout Describing the government regulation of securities, securities markets, and securities transactions in the United States, this timely book succinctly defines, describes, and explains domestic securities regulation for compliance officers, accountants, and broker-dealers.
SANJAY ANAND, CSOX, CGRC, is a recognized expert in governance, risk management, compliance and controls, and has served as chairperson of the SOX and GRC Institutes, and as Steering Committee member of the Open Compliance and Ethics Group's Red Book. He has been accorded over a dozen honorary industry credentials and certifications including a CDE (Certificate in Director Education) from NACD Institute and a CFE (Certified Fraud Examiner) from ACFE. For more information, visit his site at www.sanjayanand.com.
Foreword. Preface. Acknowledgments. 1 Introduction to the Dodd-Frank Act. 2 History and Background. Financial Instability. Scope. Architects of the Dodd-Frank Act. The Plan and Proposal. Time Line. Key Goals of the Act. Summary. Notes. 3 Key Titles and Sections. Title I: Financial Stability. Title II: Orderly Liquidation Authority. Title III: Transfer of Powers to the Office of Comptroller of the Currency, Corporation, and Board of Governors. Title IV: Regulation of Advisers to Hedge Fund and Others. Title V: Insurance. Title VI: Improvements to the Regulation of Bank and Savings Association Holding Companies and Depository Institutions. Title VII: Wall Street Transparency and Accountability. Title VIII: Payment, Clearing and Settlement Supervision. Title IX: Investor Protections and Improvements to the Regulation of Securities. Title X: Bureau of Consumer Financial Protection. Title XI: Federal Reserve System Provisions. Title XII: Improving Access to Mainstream Financial Institutions. Title XIII: Pay It Back Act. Title XIV: Mortgage Reform and Anti-Predatory Lending Act. Title XV: Miscellaneous Provisions. Title XVI: Section 1256 Contracts. Summary. 4 Institutions Impacted. Foreign Banking Organizations. Derivatives. Insurance companies. Consumers and Mortgage Banking. Brokers-Dealers. Banks, Thrifts, and Bank Holding Companies. Summary. Note. 5 Dodd-Frank Act Rulemakings. SEC and Rulemaking. Corporate Governance. Investment Advisers. Securities Lending. Arbitration. Swaps. Credit Rating Agencies. Securitization. Other Legislation. Summary. 6 Role of New and Existing Agencies. Financial Stability Oversight Council. Office of Financial Research. Bureau of Consumer Financial Protection. Bank Holding Companies. Non-bank Financial Companies. Depository institutions. Office of Thrift Supervision. Federal Deposit Insurance Corporation. Office of Comptroller of the Currency. Orderly Liquidation Authority. Securities Investor Protection Corporation. Securities and Exchange Commission. Federal Reserve Board. Commodity Futures Trading Commission. Government Accountability Office. Summary. Notes. 7 Global Impact and Implications. Banking Industry. Investment Industry. Summary. Note. 8 Advice for Specific Professions. Executive Management. Municipal Securities Markets. Brokers-Dealers. Investment Advisers. Insurers. Summary. 9 Relationship with SOX and the Basel Accords. The Dodd-Frank Act and SOX. The Dodd-Frank Act and the Basel Accords. Summary. Appendix A Contents of the Dodd-Frank Act. Appendix B Effective Dates and Deadlines. Glossary of Key Acronyms. About SOX Institute and the GRC Group. Index.