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Federal judge questions CFTC’s position limits

A federal judge refused a request on Monday for a preliminary injunction to stop the Commodity Futures Trading Commission from instituting a mandate that limits the number of oil contracts a speculator can control. The Securities Industry and Financial Markets Association and the International Swap and Derivatives Association are challenging... Read More...

SEC, CFTC call for programs to protect against identity theft

The Securities and Exchange Commission announced a joint proposal with the Commodity Futures Trading Commission on Tuesday that requires mutual fund, commodities and securities brokers to design programs intended to protect investors from identity theft. Under the Dodd-Frank Act, sections of the Fair Credit Reporting Act were amended and... Read More...

Serve to allow payments on the Facebook website

American Express has launched a Facebook application that will allow users to send payments to each other for free without leaving the Facebook website. The Serve application allows users to select a Facebook friend and request money, and the requested amount appears on the recipient’s wall. Then, the recipient can pay the amount through the... Read More...

Former Goldman VP calls Dodd-Frank “detrimental to the financial system”

Chris Meek, the Republican candidate for Connecticut's fourth congressional district, recently said that the Dodd-Frank Act of 2010 is detrimental to the financial system. The former vice president of Goldman Sachs, Meek says that financial regulations are hindrances for the U.S. economy, citing the Volcker Rule as an example, the National... Read More...

SEC revises qualifications for accredited investors

The SEC adopted a final ruling earlier this month that revises the net worth standards that qualify an individual as an accredited investor, excluding the property value of a primary residence from the net worth assessment. Under the final ruling, effective as of Monday, Feb. 27, when an individual files jointly or with a spouse, the... Read More...

G20 expresses confidence that Volcker Rule will be minimized

Senior officials from the Group of 20 economic powers expressed confidence at a recent financial conference that the U.S. will minimize the Volcker Rule. “There is a concern that it could have [an] unintended consequence, that it will restrict the traditional role that banks have played as go-betweens,” a U.K. official attending the G20... Read More...

Kentucky congressional candidate calls for Dodd-Frank repeal

Kentucky congressional candidate Tom Wurtz criticized the Dodd-Frank Act on Monday, saying that the legislation “attacks financial institutions” and that the U.S. should repeal the legislation. In the latest post on his column, Poli-ticked, Wurtz called for a repeal of the Dodd-Frank Act, citing the complexities of the rules and their... Read More...

SEC member says Volcker Rule should be removed from Dodd-Frank

A member of the Securities and Exchange Commission said last Friday that regulators should consider ridding the Dodd-Frank Act of the Volcker Rule and replacing it with a new proposal that does not affect market stability. “There is a considerable risk that as proposed, the regulatory infrastructure to implement the Volcker [Rule] could... Read More...

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