Heath P. Tarbert, partner and head of Weil’s Financial Regulatory Reform Working Group, was quoted on BankDirector.com regarding the predicted effect of the Dodd-Frank Act’s Volcker rule. The Volcker rule goes into effect next month and will place two significant restrictions on financial institutions: (1) a prohibition on proprietary trading; and (2) a ban on certain hedge fund and private equity activities.
Mr. Tarbert was quoted as follows:
I am generally skeptical of the Volcker rule’s purposed benefits to bank safety and soundness. I think appropriate capital, leverage, and liquidity requirements—when combined with a robust risk management framework and culture inside each institution—will do far more to lower the risk profile of large banks. Moreover, the Volcker rule in its current form only compounds the problem by requiring regulators and market participants to make, in some cases, spurious distinctions between and among proprietary trading, market making and hedging.
The June 26, 2012 article, entitled “Volcker Rule: Hero or Villain?” was written by Kelsey Weaver and was published on BankDirector.com.
On April 5, 2012, President Obama signed into law the Jumpstart Our Business Startups Act (the JOBS Act). The new legislation enlarges the menu of choices that private companies will have to raise capital while also reducing the burdens on “emerging growth companies” that ultimately resort to the public markets. It also offers benefits for private investment funds. Many aspects of the JOBS Act are effective immediately; others require rulemaking by the SEC, generally on an expedited basis.
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April 25, 2012
CFPB [Consumer Financial Protection Bureau] Update at RMA’s GCOR VI
For more information, visit the conference website.
Weil partner Walter Zalenski will speak on the new Consumer Financial Protection Bureau (CFPB), established by the Dodd-Frank Reform Act, at the Risk Management Association’s 6th Annual Governance, Compliance, and Operational Risk Conference (GCOR VI), to be held in Cambridge, Massachusetts on April 25-26, 2012.
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April 17, 2012
2012 Financial Women’s Association Dinner
New York, NY
Weil Corporate Governance partner Holly Gregory will be among a panel of experts sharing their experiences and views on board service in an informal, off-the-record discussion at the upcoming 2012 Financial Women’s Association Directors’ Dinner, which will take place at Weil’s New York office on Tuesday, April 17, 2012 at 5:45pm. Other panel members include Elisabeth DeMarse, CEO of Newser.com and founder of DeMarseCo, Inc.; Barbara J. Krumsiek, Chair, CEO and President of Calvert Investments, Inc. and a Director and Chair of Acacia Life Insurance Company; and Pamela J. Packard, a corporate director and a retired vice chairman of a public accounting and consulting firm. Merrie S. Frankel, a Senior Credit Officer and Vice President in the Commercial Real Estate Finance Group at Moody’s Investors Service, will serve as moderator.
For more information visit the event website.
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