If Congress enacts legislation regulating the hedge fund industry, the SEC's activity will intensify.
On August 11, the U.S. Department of the Treasury (the “Treasury”) sent the Over-the-Counter Derivatives Markets Act of 2009 (the “Bill”) to Congress.
On June 10, the United States Treasury Department (Treasury) and the Securities and Exchange Commission (SEC) announced new rules for companies receiving funds under Treasury’s Troubled Asset Relief Program (TARP) and initiatives to reform executive compensation, which reach beyond the financial sector.
In the face of a heightening financial crisis, a delegation of state securities regulators has outlined principles and a legislative agenda to rectify the problems leading to the current predicament and to help “Main Street Americans” safeguard their financial security.
While initial contracts are focused on a relatively few large service providers, we expect significant expansion of the use of additional contractors and subcontractors.