RIVERWOODS, Ill., Nov. 12 /PRNewswire/ -- CCH Principal Securities Law Analyst
Jim Hamilton, JD, and CCH Analyst Richard Roth, JD, have authored a new white
paper, Senate Banking Committee Releases Draft Legislation: Restoring American
Financial Stability Act of 2009. This is the latest version of legislation
aimed at fundamental regulatory reform of the U.S. financial and securities
markets. CCH is part of Wolters Kluwer Law & Business, a leading provider of
research information and software solutions in key specialty areas for legal
and business professionals (business.cch.com).
The authors examine each aspect of the proposal in depth, from creation of a
systemic risk regulator and regulation of OTC derivatives to creation of a
single federal bank regulator, a Consumer Financial Protection Agency and new
rules on corporate governance and executive compensation.
"If enacted, this legislation would provide a sweeping overhaul of U.S.
financial services and markets," Hamilton said. "It addresses a wide range of
securities, corporate governance and banking issues, realigns regulatory
agencies and would subject entities such as credit rating agencies and
derivatives to a level of scrutiny they have never known before."
In the whitepaper, the authors examine each aspect of the comprehensive
proposal, including: creation of a systemic risk regulator; regulation of OTC
derivatives; registration of hedge fund advisors; creation of a Consumer
Financial Protection Agency; self-funding for the SEC; oversight of auditors
of broker-dealers by the PCAOB; reordering of federal-state regulation of
investment advisers; SEC authority to bar mandatory arbitration of disputes
between investors and broker-dealers; new rules on corporate governance and
executive compensation; increased regulation of credit rating agencies and
creation of an Office of Credit Ratings at the SEC; creation of a single
federal bank regulator; a new resolution procedure for managing failure of
large non-depository financial institutions; creation of a private right of
action against secondary actors who aid and abet securities fraud; raising and
indexing for inflation the financial threshold for an accredited investor
under the Securities Act; and international aspects of financial regulation.
About the Authors
Jim Hamilton is a prolific blogger on current issues in the securities field.
Jim Hamilton's World of Securities Regulation can be found at
http://jimhamiltonblog.blogspot.com/. He has written and spoken extensively on
federal securities law and has been cited as an authority by a federal court.
His analysis of the Sarbanes-Oxley Act, the Sarbanes-Oxley Manual: A Handbook
for the Act and SEC Rules, is considered a definitive explanation of the Act.
In addition to his many books and articles, Hamilton serves as a leading
contributor to the industry-standard publication, the CCH Federal Securities
Law Reporter. This latest white paper from Hamilton is one of a series he has
authored.
Richard Roth has been analyzing and writing about federal banking laws and
regulations for more than 10 years, after nearly 15 years in the active
practice of law. Roth contributes his editorial expertise to the CCH Federal
Banking Law Reporter, CCH Bank Compliance Guide and Bank Digest. Roth was
co-author of CCH Law and Explanation books on Financial Services Modernization
and the Bankruptcy Abuse Prevention and Consumer Protection Act.
For More Information
Members of the press interested in speaking with Jim Hamilton or Richard Roth
should contact: Neil Allen at 847-267-2179, neil.allen@wolterskluwer.com or
Leslie Bonacum at 847-267-7153, mediahelp@cch.com.
For a copy of the white paper, visit:
business.cch.com/whitepapers/doddbill.pdf.
CCH Financial Crisis News Center
CCH offers a wealth of special resources related to the financial crisis and
reform at the CCH Financial Crisis News Center, financialcrisisupdate.com. The
Center provides the legal community and others with a cohesive and robust
selection of breaking news stories, analysis and links to the full text of
source documents for regulatory actions and serves as a central entry point
for CCH banking and securities law resources related to the crisis. To access,
visit www.financialcrisisupdate.com. Visitors may also subscribe to receive
the site's content via RSS feed or e-mail.
About Wolters Kluwer Law & Business
Wolters Kluwer Law & Business is a leading provider of research products and
software solutions in key specialty areas for legal and business
professionals, as well as casebooks and study aids for law students. Its major
product lines include Aspen Publishers, CCH, Kluwer Law International and
Loislaw. Wolters Kluwer Law & Business, a unit of Wolters Kluwer, is based in
New York City and Riverwoods, Ill. Wolters Kluwer is a leading global
information services and publishing company. Wolters Kluwer is headquartered
in Alphen aan den Rijn, the Netherlands. Its shares are quoted on Euronext
Amsterdam (WKL) and are included in the AEX and Euronext 100 indices
www.wolterskluwer.com.
SOURCE Wolters Kluwer Law & Business
Neil Allen, +1-847-267-2179, neil.allen@wolterskluwer.com, or Leslie Bonacum,
+1-847-267-7153, mediahelp@cch.com, both of Wolters Kluwer Law & Business
