“This legislation restores the division between commercial banking and financial market activities – a change that will make our financial system more secure and better able to support the real economy.”
“Without real built-in investor-protection standards, we are seriously concerned that this rule will open the door to mass marketing of hedge funds and other risky and often illiquid ‘private’ securities in a market where abuses are common and SEC oversight is very limited. Fraud and abuse are not good for investors; they’re not good for capital markets, either.”
AFR joined more than 160 public interest groups in urging the Senate to confirm Richard Cordray as Director of the CFPB.
In today’s global financial markets, risk is not bounded by geographic borders but instead flows to whatever entity is ultimately liable for a transaction. While the CFTC hasmoved forward in the face of intense industry pressure, its guidance leaves some doubt about a potential cross-border loophole.
Three years after Dodd-Frank, the Securities and Exchange Commission has yet to write a rule implementing “one of the simpler parts of a mammoth and complicated law.” The Washington Post explores the reasons.
AFR Materials Over the Past Year on the CFTC’s Oversight of International Derivatives
Statement of Privacy and Consumer Groups In Support of CFPB’s Use of Data
Three years after the Dodd-Frank Act, “There is no excuse for further delay… Without cross-border applicability, there is no effective regulation of derivatives.”
AFR joined more than a dozen public interest groups in applauding the recent activities of the CFPB aimed at ending discriminatory lending practices in the auto finance market that harm minority car buyers.
Organizations from across the globe came together in a letter to members of the G20 urging for stronger U.S. action in the derivatives market.