With the health care reform now out of the hands of Congress, there is now movement with financial overhaul. Senator Dodd introduced the Restoring American Financial Stability Act of 2010 last week without a Republican co-sponsor [Dodd Goes Solo]. Instead plugging in amendments, the Senate Banking Committee voted on straight party lines to advance the [...]
Dodd’s Solo View on Private Investment Funds
on March 16, 2010 in Investment Advisers Act, Private Investment Funds
Senator Dodd did not forget about private investment funds. Tucked into page 366 of his 1366 page Restoring American Financial Stability Act of 2010 is the Private Fund Investment Advisers Registration Act. This is largely the same language in the Private Fund Investment Advisers Registration Act of 2009 contained in Dodd’s draft Restoring American Financial [...]
Dodd Goes Solo
on March 16, 2010 in Investment Advisers Act
After months of negotiation, Senator Dodd gave up on his negotiations with Republicans and decided to introduce a financial industry reform bill all by himself. To promote the financial stability of the United States by improving accountability and transparency in the financial system, to end ‘‘too big to fail’’, to protect the American taxpayer by [...]
Another Private Fund Registration Bill
on November 11, 2009 in Private Investment Funds
As expected, Senator Dodd introduced a comprehensive bill for revising the regulatory system for the U.S. financial services industry. Restoring American Financial Stability Act of 2009. You can tell its comprehensive because the discussion draft weighs in at 1,136 pages. I have not read all of it, but I did focus in Title IV: Regulation [...]
U.S. Senate Hears About Madoff
on January 29, 2009 in Fraud
On Tuesday, the U.S. Senate Committee on Banking, Housing, and Urban Affairs held a hearing on the background and implications of the Madoff scandal: Madoff Investment Securities Fraud: Regulatory and Oversight Concerns and the Need for Reform. Video Archive Member Statements Senator Christopher J. Dodd Witness Testimony Professor John C. Coffee, Adolf A. Berle Professor [...]
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