Swaps Push-Out Prospects
On December 3, Bloomberg discussed the future of the swaps push-out rule, the provision of the Dodd-Frank Act which requires banks to move their swaps trading activities to affiliates which do not have access to federal assistance. Push-Out Prospects.
Recommendation for Early Disclosure of Audit Fees
On December 2, CFO.com summarized the findings of a report which concluded that companies should disclose their audit fees when they are negotiated and not wait until the following year’s proxy statement to make the disclosure. An increase in audit fees frequently indicates difficulties at the company and early disclosure of that increase could help soften market reaction to those difficulties. Early Warning.
Due Diligence Guidelines
On December 2, Think Advisor provided a list of “do’s and don’ts” for investment advisors performing due diligence on their third-party services providers. Do’s and Don’ts.
Cyber Hackers Allegedly Access Corporate Email Accounts
On December 1, the Guardian reported cybersecurity company FireEye has uncovered a plan in which computer hackers have gained access to corporate email accounts in order to gain insider information. Hackers. See also Los Angeles Times.
IOSCO Seeks Comments on Cross-Border Regulation
On November 25, the International Organization of Securities Commissions published the consultation report of the IOSCO Task Force on Cross-Border Regulation, which identifies and describes cross-border regulatory tools and challenges. The consultation report describes three cross-border regulatory tools that have been used, or are under consideration, by IOSCO members to help address the challenges they face in protecting investors, maintaining market quality and reducing systemic risk. The tools can be broadly classified into three main types: national treatment, recognition, and passporting. Comments on the report should be submitted on or before February 23, 2015. IOSCO Press Release.