Increased regulation typically means a higher workload for people in financial services, because it takes time and effort to adapt business practices that follow the new regulations correctly.
Other sectors of the financial market are regulated by specific entities. Some, such as the Brookings Institution, argue that expanded governmental regulation of banks and financial products (e.g., mortgages) can prevent large-scale financial crises, protect consumers from abusive practices, and stabilize financial markets.
Reducing regulatory uncertainty clears the way for innovation, competition, choice, and ultimately lower prices and expanded access to credit for consumers.
The Federal Reserve took extraneous steps to support the economy and the financial markets during and after the 2008 financial crisis. In addition to its authority to designate monetary policy, primarily the federal funds rate, the Fed also setup many special purpose vehicles for lending to various sectors of the market.
Federal Reserve. The Federal Reserve took extraneous steps to support the economy and the financial markets during and after the 2008 financial crisis. In addition to its authority to designate monetary policy, primarily the federal funds rate, the Fed also setup many special purpose vehicles for lending to various sectors of the market.
The Emergency Economic Stabilization Act provided $700 billion in bailout relief. Post-Dodd-Frank, many new committees and the Federal Reserve were tasked with the responsibilities of greater financial market oversight.
Some of the biggest changes effected by the passing of the Dodd-Frank Act were passed through to these legislations as follows: Securities Act of 1933: Dodd-Frank amended Regulation D to exempt some securities from registration. These exemptions were heavily tied to special securities issuance for accredited investors.
The CFPB was created from Dodd-Frank. Its purpose is to oversee all financial products, services, and market regimes that are available to U.S. consumers. Within its authority, it provides a variety of educational materials.
Investment Advisers Act of 1940: The Advisers Act of 1940 saw changes to the registration requirements for investment advisors, affecting both independent investment advisors and hedge funds.
Emergency Economic Stabilization Act. Federal Reserve. The Bottom Line. Presidents George W. Bush and Barack Obama signed into law several major legislative responses to the financial crisis of 2008. The most influential and controversial of these was the Dodd-Frank Wall Street Reform and Consumer Protection Act, ...
Title IX amends the 1934 Act for issues pertaining to accountability, executive compensation, and corporate governance. Title IX, Sections 932, 935, and 939 of the Dodd-Frank Act amended the 1934 Act for improvements to the regulation of credit rating agencies, including the establishment of the Securities Exchange Commission (SEC) ...
The major downside is that it increases the workload for people in the industry who ensure regulations are adhered to . On the positive side, some regulations help hold companies accountable and increase internal controls, such as the 2002 Sarbanes-Oxley Act. 1.
Regulations That Affect the Stock Market. The Securities and Exchange Commission (SEC) regulates the securities markets and is tasked with protecting investors against mismanagement and fraud. Ideally, these types of regulations also encourage more investment and help protect the stability of financial services companies.
The Government and the Financial Industry. The government plays the role of moderator between brokerage firms and consumers. Too much regulation can stifle innovation and drive up costs, while too little can lead to mismanagement, corruption, and collapse. This makes it difficult to determine the exact impact government regulation will have in ...
Increased regulation typically means a higher workload for people in financial services, because it takes time and effort to adapt business practices that follow the new regulations correctly. While the increased time and workload resulting from government regulation can be detrimental to individual financial or credit services companies in ...
In the area of consumer protection, that is one of the primary reasons for the CFPB’s existence, to prevent and deter fraud and other conduct that undermines the ability of consumers to make decisions for themselves in the marketplace where neither competition nor private legal remedies adequately address the conduct .
In all seriousness, financial regulation generally responds to market events rather than anticipates them. And since the future is fundamentally uncertain, a point astutely made by Alex Pollock in his most recent book 1, it is tough to predict the future direction of financial regulation.
The finalization of Basel III remains a moving target. Our experts outlined and discussed some of the crucial changes.
FRTB — part of the Basel III framework — constitutes a revised set of prudential standards that specify the means by which banks must calculate market risk capital requirements.
Libor — the widely adopted interest rate benchmark that underpins trillions of USD in financial instruments and derivatives — is due to be phased out by the end 2021.
The Markets in Financial Instruments Directive (MiFID) is a regulatory framework set out by the European Union (EU) to regulate its financial markets and promote transparency.
Five notable initiatives are set to shape the industry in 2020 and beyond, including the Risk Reduction Measures (RRM) package, Basel III, and Libor migration. For further details, download the report — Unpacking the regulatory landscape shaping financial services in 2020
The Finance Industry is an important aspect of the economy including banking, credit, securities and insurance activities. It offers many well-paying jobs, and is expected to see growth in the coming years.
As part of its mandate under Title VII of the Civil Rights Act of 1964, as amended, the Equal Employment Opportunity Commission requires periodic reports from public and private employers, and unions and labor organizations which indicate the composition of their work forces by sex and by race/ethnic category.
As one might expect, the finance industry utilizes a highly professionalized work force. Employment in blue collar job groups reported on the EEO-1 is consistently less than 2 percent for each of those job groups. Table 1 shows how employment is divided among white collar job groups for each of the finance subsectors.
In order to examine employment of officials and managers in more detail, each of the examined groups was compared to white males. Specifically, the chances of being officials and managers were compared to the chances of white males being officials and managers.
In examining the Finance subsectors with respect to the employment of women, African Americans, Hispanics and Asians as officials and managers, one must be somewhat cautious in interpreting the positive results for the Securities industry.
For additional information, visit our web site at http://www.eeoc.gov. Click on STATISTICS and JOB PATTERNS FOR MINORITIES AND WOMEN ( http://www.eeoc.gov/stats /jobpat/jobpat.html) for sample copies of the EEO-1 form, an instruction booklet and aggregate statistics.
This Specialization is intended for finance professional who are seeking to develop skills and understanding of FinTech.
You will earn a FinTech specialization certificate offered by the HKUST and Coursera after completing all four courses. You can add to your resume and Linkedin profile which can benefit to your career in finance industry. Also you will gain knowledge and insights in FinTech for your current and future career development in Finance industry.
Everyone who is interested in FinTech and wants to learn more is welcome and will benefit from this course, and is useful for finance executives, government officers, entrepreneurs, consumers and investors of FinTech.
Find out more and watch the FinTech specialization promotional video on Youtube.
Learners will complete 4 peer-graded final projects in 4 courses which require research, analysis and recommendation to finance executives, management and government regulatory bodies, and yourself. You will have a full picture of how FinTech disrupt our society and how we can seize this opportunity to create value and react to these fast changes.
A Coursera Specialization is a series of courses that helps you master a skill. To begin, enroll in the Specialization directly, or review its courses and choose the one you'd like to start with. When you subscribe to a course that is part of a Specialization, you’re automatically subscribed to the full Specialization.
Our primary goal is to help you to understand FinTech and to become more confident and persuasive in your ability to analyze and make recommendations to executives within the finance industry regarding how to react to these changes.