The Senate Banking Committee has released a discussion draft of proposed financial reform legislation (see Investor Protection Act) titled, “Restoring American Financial Stability Act of 2009.” The discussion draft varies from the version recently approved House Financial Services Committee in one key respect: it is better for investors.
Posts Tagged ‘Financial Services Committee’
Senate Banking Committee Releases Discussion Draft on Financial Reform Legislation
November 10th, 2009 
Before You Invest 
Posted in Finance Fraud 
Tags: Broker Dealer, Financial Services Committee, Financial Stability, House Financial Services Committee, Independent Broker Dealers, Investment Adviser, Investor Confidence, Investor Protection, Investors, Likelihood, Proposed Legislation, Reform Legislation, Registered Investment Advisers, Securities And Exchange, Securities And Exchange Commission, Senate Banking Committee, Senate Version, Simple Solution, Stability Act, Two Tiered System 
No Comments »FINRA Supports Mandatory Arbitration Clause Removal
October 6th, 2009 Before You Invest Richard Ketchum, Chairman and Chief Executive of FINRA, testified before the House Financial Services Committee today in support of allowing the SEC to ban mandatory arbitration clauses in securities contracts. It is common practice for broker dealers to stipulate a mandatory dispute resolution forum in the event of a broker/client dispute.
Posted in Finance Fraud Tags: Account Applications, Arbitration Clause, Broker Dealers, Brokerage Account, Capital Markets Subcommittee, Chairman Paul, Chief Executive, Contentious Subject, Cost Effectiveness, Dispute Resolution Forum, Fairness, Financial Services Committee, Finra, House Financial Services Committee, Ketchum, Mandatory Arbitration Clauses, Outright Ban, Paul Kanjorski, Securities Industry, Subcommittee Chairman No Comments »Geithner reportedly abandons push to merge SEC, CFTC
June 7th, 2009 Before You Invest Treasury Secretary Timothy Geithner convinced lawmakers at a dinner that he will not push for a merger of the Commodity Futures Trading Commission and the Securities and Exchange Commission, sources said. The proposal already faces opposition in Congress, with Barney Frank, chairman of the House Financial Services Committee, saying resistance from “entrenched interests” makes the move impossible.
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Posted in Finance Fraud Tags: Amp, Apps, Barney Frank, Cftc, Commodity Futures Trading, Commodity Futures Trading Commission, Congress, Financial Services Committee, Futures Trading Commission, House Financial Services Committee, Lawmakers, Merger, Opposition, Pid, Proposal, Resistance, Sec, Securities And Exchange, Securities And Exchange Commission, Sid, Treasury Secretary No Comments »
