Sky Blog
The SEC and CFTC (the “Commissions”) have jointly requested public comment on how to draw clearer regulatory boundaries for classifying, within statutory bounds, innovative derivatives and related products that implicate the jurisdiction of the Commissions and whether there are opportunities …
On March 25, 2026, the Financial Stability Oversight Council (the “Council”) unanimously voted to propose amendments to its interpretive guidance (the “Proposed Interpretive Guidance”) regarding the designation of nonbank financial companies as “systemically important financial institutions” (“SIFIs”) for supervision by …
Difficulties in valuing the assets and liabilities of the largest banking organizations aggravated the 2007-08 financial crisis. Regulation under the Dodd-Frank Act sought to increase transparency and reduce complexity among these institutions. With the benefit of significant hindsight, it is …
Guarantees of confidentiality and anonymity are important considerations for whistleblowers seeking to report information on violations to regulators and other public entities. These guarantees ensure the safety of whistleblowers when filing complaints, often against entities with substantial resources and some …
“Too big to fail” became a household phrase during the 2007–08 Global Financial Crisis. When giant financial institutions teetered, the government reached for ad hoc bailouts, fearing contagion and a broader economic collapse. Congress responded with the Dodd-Frank Act, which …
Corporate transparency is often assumed to be driven by law, regulation, and public scrutiny. Yet new research shows that private pressure – quiet, anonymous inquiries sent through companies’ grievance channels – can meaningfully shape how firms disclose sensitive information.
In …
Shareholders and investor advocacy groups have long criticized executives for being paid top dollar while achieving subpar returns for shareholders. In response, the Securities and Exchange Commission (SEC) passed the Dodd-Frank Act of 2010, which has two, related provisions that …
The District Court for the Northern District of Texas recently ruled that a company breached its fiduciary duties under the Employee Retirement Income Security Act of 1974 (“ERISA”) for permitting BlackRock’s inclusion as an investment manager of its employees’ retirement …
The most important question in whistleblowing is a straightforward one: Why does whistleblowing work? Modernized whistleblower award laws, such as the False Claims Act and Dodd-Frank Act, have had immense impacts on the detection and prosecution of white-collar crimes. …
Good afternoon. Thank you to Bruce Carton for the invitation to speak today and for the kind introduction. I appreciate the opportunity to be able to talk to you about the work of the SEC’s Division of Enforcement.
As is …
Almost exactly a year after issuing a Notice of Proposed Rulemaking (NPRM) on Personal Financial Data rights, on October 22, 2024, the Consumer Financial Protection Bureau (CFPB) issued its final Rule under Section 1033 of the Consumer Financial Protection Act. …
The Supreme Court recently upheld the Consumer Financial Protection Bureau’s funding structure in a 7–2 decision that will likely pave the way for renewed regulatory activity by the agency in the near future.
Enacted as part of the Dodd-Frank Act, …
On May 6, 2024, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency and the Federal Housing Finance Agency re-proposed their joint rule to implement Section 956 of the Dodd-Frank Act, which requires federal financial regulators …
On March 7, 2024, in a speech before the American Bar Association, Deputy Attorney General Lisa Monaco announced a “90-day sprint” to establish a new Justice Department whistleblower program. In her speech, Monaco pointed to other highly successful whistleblower …
If you follow the financial press, you have probably seen coverage of the new bank capital requirements that federal regulators proposed last year. These rules would strengthen capital levels for the United States’ largest banks and thereby complete the implementation …
Each subsidiary issuing or guaranteeing a public company’s listed debt securities is itself subject to the clawback rules recently adopted by the NYSE and Nasdaq.
In October 2022, the SEC adopted the final clawback rule mandated by the Dodd-Frank Act …
The Dodd-Frank Wall Street Reform and Consumer Protection Act (“DFA”) was signed into law in July 2010. The DFA introduced several reforms; collectively, these reforms were intended to reduce the risk of the financial sector and to provide financial stability …
The U.S. Treasury Department and the Financial Crimes Enforcement Network (FinCEN) are in the midst of drafting regulations to implement the anti-money laundering (AML) whistleblower program. The program, established in 2021 by the AML Act of 2020 and reformed in …
Today [June 7], the Commission is considering adopting two final rules related to the security-based swaps markets. I am pleased to support these rules because they will enhance the integrity of the security-based swaps markets.
The 2008 financial crisis had
The 1990s was the decade of Michael Jordan and the Chicago Bulls. The Cold War was over. It was the dawn of the internet and the Spice Girls. Seinfeld was on TV. Bill Clinton brought blue jeans and Domino’s delivery …