This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

SEC Lays Out FinReg Timetable

WASHINGTON ( TheStreet) -- The Securities and Exchange Commission has released a timetable highlighting upcoming rule proposals for new measures under the historic Dodd-Frank Wall Street Reform and Consumer Protection Act.

Between October and December, the SEC plans to issue proposals in several categories from the new law including oversight of investment advisors to hedge funds and other private funds, derivatives (issues with security-based swaps), clearing and settlement, credit ratings (such as establishing a new Office of Credit Rating), asset-backed securities, corporate governance disclosure including executive compensation rules and municipal securities.

Some of the more notable rule proposals in the first leg include a revision to Regulation FD to "remove exemption for entities whose primary business is the issuance of credit ratings," new rules regarding the use of representations and warranties in the asset-backed securities market, corporate governance hot button issues including 'say-on-pay,' golden parachutes and restrictions to independent director compensation committee measures.

Between January and March of next year, the SEC will propose further rules and, in the early part of the year, (along with the Commodities Futures Trading Commission) present a report to Congress regarding the "feasibility of requiring the derivatives industry to adopt standardized computer-readable algorithmic descriptions."

The SEC is also preparing another report on the obligations of broker-dealers and investment advisers when it comes to fiduciary duty, due this winter.

The SEC also plans to adopt rule changes in the January to March timeframe regarding the reps and warranties issues for asset-backed securities as well as corporate governance issues, laid out in the next few months.

Finally the SEC plans to adopt further rule changes between April and July 2011.

The controversial FinReg law, ultimately named the Dodd-Frank Act, was signed by President Obama on July 21, 2010. In the new law are measures that span everything from curbing proprietary trading at the big banks to new consumer protections to getting a chance at peeking under the Federal Reserve's books.

The timetable was first cited by corporate governance firm, RiskMetrics.

--Written by Laurie Kulikowski in New York.

To contact the writer of this article, click here: Laurie Kulikowski.

To submit a news tip, send an email to: tips@thestreet.com.
Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
AAPL $122.50 -0.71%
FB $95.03 -0.27%
GOOG $631.93 0.63%
TSLA $263.82 -0.38%
YHOO $37.67 -0.13%

Markets

Chart of I:DJI
DOW 17,751.39 +121.12 0.69%
S&P 500 2,108.57 +15.32 0.73%
NASDAQ 5,111.7330 +22.5270 0.44%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs