New figures confirm that Dodd-Frank whistleblower tips are pouring into the SEC
A senior official of the Securities and Exchange Commission has confirmed what many observers expected to occur in the wake of the Dodd-Frank Act: the potentially enormous financial rewards offered to whistleblowers in return for information about suspected wrongdoing are generating a deluge of tips to the SEC. According to a recent report, the chief of the SEC’s Office of Market Intelligence revealed in an interview with Law360 that the SEC has been receiving an average of seven whistleblower tips per day — with roughly two to three worthy of investigation — since the Dodd-Frank whistleblower program began.
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Briefings from Simpson Thacher & Bartlett
Basel oversight committee endorses revised liquidity standards
On 6 January, the Group of Central Bank Governors and Heads of Supervision, the oversight body for the Basel Committee on Bank Supervision, endorsed a revised formulation of the new minimum liquidity standard.
New regulatory framework for foreign banks with US operations
On 14 December 2012, the Federal Reserve Board issued a notice of proposed rulemaking to apply enhanced prudential standards and an early remediation framework to foreign banking organizations (FBOs) with $50 billion or more in total global consolidated assets.
