I am sure that you have seen the articles and are aware of the discussion on looming Regulatory changes. One battle is likely to be over risk-management and requiring higher cash reserves as a cushion against trading losses.
Fed Staff Monitor Investment Banks - Securities Law Prof Blog link and summary:
Federal Reserve staff onsite at five major investment banks to monitor their financial condition. Cox testified before Senate banking committee, amid inceased Congressional criticism of its performance. Senator Grassley asked SEC inspector general to review the 2005 investigation into Bear's pricing of mortgage-related assets, which SEC closed without filing charges.
WSJ, The Fed Hits the Street. Go to Securities Law Prof Blog w/wsj.com link
http://lawprofessors.typepad.com/securities/2008/04/fed-staff-monit.html
Did you know that in addition to the top Compliance and Legal talent in the marketplace, my network and database includes top Risk Management candidates?
Legend Global's proprietary database of contacts together with my own network built on a 20 year-Regulatory and Compliance career provides insight not available from anywhere else. Legend's website shows the breadth of our services including an overview of the types of jobs we fill: www.ComplianceHQ.com.
Please let me know how and when I can help and I will devote manpower to meet your need(s).
Stuart Rosenthal | Legend Global Search, Inc. | 212.293.8920 SRosenthal@ComplianceHQ.com
Links
http://online.wsj.com/article/SB120631764481458291.html?mod=rss_markets_main
In Washington, a Split Over Regulation of Wall Street http://www.nytimes.com/2008/03/23/business/23regulate.html?_r=1&ref=business&oref=slogin">
Regulatory Underkill: Arthur Levitt, former SEC Chair, calls for regulatory reforms in a Wall St. Journal op-ed piece including: How we can inject greater transparency into the markets and bring about a change in attitude on the part of business leaders and policy makers that puts the interests of investors first. This may require a more fundamental restructuring of how we regulate the markets -- for instance, merging the SEC and the CFTC to create a single securities regulator -- and giving that regulator the resources and the authority to do its job, something the SEC currently lacks.
WSJ Op-ED link http://online.wsj.com/article/SB120605716375753327.html?mod=todays_us_opinion
SEC Chair Cox last week sent letter to chairman of Basel Committee on Banking Supervision expressing strong support for planned updated guidance on liquidity management for banking organizations in light of the recent market turmoil. Chairman Cox Letter to Basel Committee in Support of New Guidance on Liquidity Management March 21, 2008 in SEC Action http://www.sec.gov/news/press/2008/2008-48.htm
-
Posts
