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Entries tagged "Regulatory"Finra replaces Merrill, Lehman vetsSeth Waugh, CEO of Deutsche Bank Americas and chairman of Deutsche Bank Securities, and James Weddle, managing partner of Edward Jones, are headed to Finra. PCAOB's Olson to leaveMark W. Olson, the head of the Public Company Accounting Oversight Board, is leaving a year before his term is set to expire. Alaska Air calls Virgin America un-AmericanAlaska Air citing a speculative news story called on the government to launch a probe into whether rival Virgin America continues to meet the standards for being a U.S. carrier. For more read Corporate Dealmaker. Paul Hastings' Poerio on rules that would forbid $1,200 trash cansWith all of the talk about Wall Street's cash bonuses, corporate jet purchases and office decorating, there's no question that the Senate, which just gave President Obama access to the second tranche of the Troubled Asset Relief Program and confirmed Timothy Geithner as Treasury secretary, will place heavier restrictions on executive compensation. We spoke with Paul Hastings Janofsky & Walker LLP partner Mark Poerio about what sort of restrictions executives may see on compensation and perks under stricter TARP oversight and Rep. Barney Frank's proposed bill.... National City takeover gets Fed OKThe Federal Reserve Board Monday approved PNC Financial Services Group Inc.'s $5.58 billion acquisition of National City Corp.... Christopher Cox demands an exit strategyWe'll miss these little missives Christopher Cox, temporarily the chairman of the Securities and Exchange Commission, has been wafting to The Wall Street Journal. On Thursday, Cox offered up a sermon on the abiding wisdom of the 1930s securities laws, which established, among other things, the SEC. Cox praised the fact that the SEC was established to referee the activities of the market, not play in the game itself. And he wished, plaintively, that we can get back to a sensible arm's length regulation as soon as the cataclysm clears.... Rodgin Cohen on bank M&A in the crisisCognoscenti alert. The Harvard Corporate Law School Corporate Governance Blog has a video up of Sullivan & Cromwell LLP chairman Rodgin Cohen discussing issues in financial services M&A in the current crisis. ... Today's M&A columns: A bank scheme and carping at GeithnerThe two M&A reporters for the big dailies appear together again; we've been wondering what The Wall Street Journal's Dennis Berman has been up to. Perhaps he's been mulling over how to solve the credit crisis. In any event, Berman rolls out a plan Tuesday -- plan may be overstating it really -- for the government, having failed to convince the banks to lend, to abandon the effort and start afresh with brand new banks. Berman suggests putting $10 billion in taxpayer money, matched by private investment, and send it off, with its balance sheet pure, to lend to a... Banks look to head off regulation of credit default swapsInvestment banks are reportedly giving their full backing to a mandatory central clearing house for over-the-counter credit derivatives in hopes of heading off a more heavy-handed attempt to regulate the market by creating an exchange. The Financial Times obtained a Morgan Stanley memo regarding an initiative by dealer banks to present an alternative to an overhaul of the $54 trillion industry. ... More on Volcker and his role in an Obama administrationLast week, I questioned whether former Federal Reserve Chairman Paul Volcker is the right person to lead the economy out of its doldrums. The post prompted some debate in the comments section of Dealscape. In response to one comment, let me say that I never meant to argue that Volcker's actions to stem inflation were wrong. I simply highlighted that the actions produced a deep recession. However, I did make it clear that Volcker's efforts eventually broke years of stagflation the U.S. economy had suffered through in the 1970s. In fact, I may not have been clear in my post,... SEC wants to fast track creation of CDS exchangeThe Securities and Exchange Commission wants to speed up the creation of a regulated exchange to trade credit default swaps and, according to a document obtained by Reuters, has told the various exchanges vying for that opportunity that they'll be exempt from certain regulations.... Barney Frank calls for moratorium on Wall Street's bonusesWall Street may not like regulation, but they'll live with it. Now, however, House Financial Services Committee Chairman Barney Frank is going after something much closer to home -- the hallowed year-end bonus. The Massachusetts Democrat suggested a moratorium on bonuses until the Wall Street firms figure out a way to curtail excessive risk-taking by those looking for big year-end payouts.According to Bloomberg, Frank told reporters last night that "there should be a moratorium on bonuses." Frank told Bloomberg that bonuses "have a negative incentive effect because they are the ones that say if you take a risk and it... Top tagsYou have executed a tag search on Dealscape. On the left,you will find a comprehensive list of stories tagged "Regulatory." Below are the most-popular tags for Dealscape. On the right of the page you will find a search box to dig deeper into our content.
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