The Securities and Exchange Commission (the “SEC”) filed an action on February 13th in its continued effort to crack down on unregistered brokers. In
Last week, U.S. Representatives and a group of large insurance companies sent letters to U.S. Treasury Secretary, Timothy Geithner, and other key lawmakers requesting that decisions affecting insurers under the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”) be postponed until all appointments are made to the newly created Financial Stability Oversight Council (the “Council”).
On November 10, Senator Dodd released a discussion draft of the Restoring American Financial Stability Act of 2009 (the "Senate Proposal").
Even after passage of two important financial reform bills, the Emergency Economic Stabilization Act of 2008 and the earlier Housing and Economic Recovery Act of 2008, the nation and the rest of the world still face unprecedented economic turmoil, with tight credit markets, plummeting housing prices and growing job losses.