Comment Letter: Response to CFPB’s Proposals and Questions on Streamlining Regulations
AFR in conjunction with several public interest groups, submitted a comment letter to the CFPB in response to their request for ideas on streamlining regulation.
AFR in the News: Not What Paul Volcker Had in Mind
“The Volcker rule, a crucial provision of the Dodd-Frank financial reform law, is supposed to stop banks from doing the sort of risky trading that was one of the big causes of the financial meltdown. The banks hate the rule because less speculation means less profit and lower bonuses for traders and bank executives. …Some advocates also warn that the regulations could still be read as allowing proprietary trading that is longer term in nature, including high-risk arbitrage trades that attempt to profit on price differences among similar assets.”
AFR in the News: Protect your investments from oil shocks
“The last time we saw this speculative feeding frenzy was in 2008, when in July, amidst the meltdown in the credit and housing markets, speculators wildly ran up the price of crude oil to over $140 per barrel. Was the steroidal price explosion in 2008 due to increased demand or a significant reduction in supply? Trading volume was nearly 15 times world oil demand that year, according to research compiled by Americans for Financial Reform.”
This Week in Wall Street Reform
Click here to view this week’s highlights and lowlights in Wall Street Reform – February 25, 2012 – March 2, 2012.
News Articles Explain Dangers and Flaws of the JOBS Act
Below is a sampling of recent articles that highlight the JOBS Act many flaws and explain why so many different groups and individuals have come out in opposition.
Letters from Critics of the JOBS Act
The following letters have been submitted by organizations in opposition to the bipartisan JOBS Act.
CFA Statement: Spurring Job Growth through Capital Formation While Protecting Investors
Read CFA’s statement on the Senate Banking Committee hearing on the JOBS Act.
Testimony: Frmr SEC Accountant Lynn Turner Criticizes the JOBS Act
Read the letter here.
Letter: NASAA Criticizes the JOBS Act
Read the letter here.
News Article: Extraordinary Delusions and the Madness of Crowd(Funding)
Outpouring of Opposition: In a blog at The Huffington Post (“Extraordinary Delusions and the Madness of Crowd(Funding),” March 6, 2012), CFA Director of Investor Protection Barbara Roper documents the broad opposition to the supposedly non-controversial JOBS Act. She points to letters from investor advocates and