Pershing
Regulatory Reform
| SEC Grants Extension to Large Trader Record Keeping and Reporting Deadline May 03, 2012 - The Securities and Exchange Commission (SEC) has extended the April 30, 2012, compliance deadline for the record keeping and reporting provisions of Rule 13h-1, known as the large trader rule. |
| SEC Grants Extension to Large Trader Record Keeping and Reporting Deadline May 03, 2012 - The Securities and Exchange Commission (SEC) has extended the April 30, 2012, compliance deadline for the record keeping and reporting provisions of Rule 13h-1, known as the large trader rule. |
| Retirement Regulatory Update: An Overview of New ERISA Fee and Expense Disclosures April 16, 2012 - Over the past several years, the Department of Labor (DOL) has issued a series of regulations that require additional disclosures of fees and expenses by retirement plan sponsors and providers. These new requirements are designed to increase the transparency of the fees and expenses paid by plan sponsors and participants, enabling them to make well-informed choices about their retirement plans. |
| SEC Rule Mandates Large Trader Registration by December 2011 November 30, 2011 - The Securities and Exchange Commission (SEC), spurred by the May 6, 2010, disruption and concerns of systemic risk in the U.S. securities market, adopted Rule 13h-1 in July 2011. Known as the large trader rule, it is designed to enable the SEC to identify and monitor market participants who engage in significant trading activity. |
| Call to Action Against the DOL Redefinition of Fiduciary May 11, 2011 - In October 2010, the Department of Labor (DOL) proposed a redefinition of fiduciary under the Employee Retirement Income Security Act (ERISA) and the Internal Revenue Code. Many provisions of the regulation do not correspond to existing laws, including the Investment Advisers Act of 1940. They are also inconsistent with the efforts by the Securities and Exchange Commission to establish a uniform fiduciary standard, as mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act. |
| Corporate Governance January 10, 2011 - The governance of public companies is driven by the proper election of a board of directors by the proxy voting of shareholders. An important factor in voting is how securities firms allocate votes to their customers. At the moment, firms allocate votes using various methods; lack of a consistent method can lead to confusion and to votes not being properly allocated. Pershing and BNY Mellon strongly support the notion of "pre-reconciliation," that is, reducing reduces the number of votes held by the number of shares loaned to others. |
| The Dodd-Frank Wall Street Reform and Consumer Protection Act and the Impact on the Hedge Fund Industry January 10, 2011 - The Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank), signed into law on July 21, 2010, will potentially have a dramatic impact on hedge funds and their advisers. The links below describe some of the long-term effects of Dodd-Frank on hedge funds and their investment advisers. |
| Foreign Account Tax Compliance Act (FATCA) December 17, 2010 - The Foreign Account Tax Compliance Act (FATCA), which was enacted as part of the Hiring Incentives to Restore Employment (HIRE) Act on March 18, 2010, increases the ability of the Internal Revenue Service (IRS) to police tax evasion by U.S. persons holding financial assets outside the United States. |
| The Dodd-Frank Wall Street Reform and Consumer Protection Act September 20, 2010 - The number of legal and regulatory changes impacting the financial industry has been unprecedented over the last two years. We are all asking what the immediate impact of this legislation will be for broker-dealers, registered investment advisers, and investors. The most recent, and prominent, legislation is the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank). This legislation, signed by President Obama in July 2010, will affect almost every aspect of the financial services industry. Many of the provisions of Dodd-Frank mandate studies, create new governmental agencies or delegate rulemaking to various governmental agencies, such as the Securities and Exchange Commission (SEC). These agencies may need to draft and implement approximately 250 rules to finalize what Dodd-Frank began in July 2010. |
If you have questions about how recent regulatory changes may impact your business, please
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