Financial Regulation

Specifically, the Patriot Act gave federal officials new surveillance authority in terrorism cases, as well as the ability to conduct searches of property without the consent or knowledge of the owner or occupant. Increased federal authority to freeze financial assets of suspected terror groups and individuals. What was the provision…

1. Government business regulations are federal laws and statutes passed to protect businesses and the public interest. These regulations can be used by small businesses to help them grow. For example, government regulations may require using certain safety equipment on the job site if you own a construction company. 2. …

SOX requires corporate executives to certify the accuracy of their company’s financial statements; maintain and assess internal controls to prevent wrong, misleading, or fraudulent financial data; and imposes criminal penalties for misleading shareholders and altering documents to impede an investigation. What are key provisions of the Sarbanes Oxley Act quizlet?…

Who benefits from a short sale? In a short sale transaction, a broker holding the shares is typically the one that benefits the most, because they can charge interest and commission on lending out the shares in their inventory. The actual owner of the shares does not benefit due to…

Authorities Delegated to FinCENFinCENFinCEN is a bureau of the U.S. Department of the Treasury. The Director of FinCEN is appointed by the Secretary of the Treasury and reports to the Treasury Under Secretary for Terrorism and Financial Intelligence. Who is responsible for enforcing the BSA? BSA-related reporting requirements for national…

Title V, subtitle A, of this Act (15 U.S.C. § 6801 et seq.) requires the FTC, along with the Federal banking agencies and other regulators, to issue regulations ensuring that financial institutions protect the privacy of consumers’ personal financial information. What is the main purpose of Gramm-Leach-Bliley Act? The Gramm-Leach-Bliley…

Short sales are voluntary actions by the homeowner; they require approval from the lender. Foreclosures are involuntary for the homeowner; the lender takes legal action to take control of and sell the property. Homeowners who use short sales are responsible for any deficiencies payable to the lender. What are the…

Steven Terner Mnuchin (/məˈnuːʃɪn/ mə-NOO-shin; born December 21, 1962) is an American investment banker and film producer who served as the 77th United States secretary of the treasury as part of the Cabinet of Donald Trump from . Who owns Mnuchin Gallery? Robert E. Mnuchin (born 1933) is an American…

What is the main purpose of the bank secrecy law? The Currency and Foreign Transactions Reporting Act of 1970—which legislative framework is commonly referred to as the “Bank Secrecy Act” (BSA)—requires U.S. financial institutions to assist U.S. government agencies to detect and prevent money laundering. What is bank secrecy law…

BSA is the common name for a series of laws and regulations enacted in the United States to combat money laundering and the financing of terrorism. What is the purpose of a BSA? The Currency and Foreign Transactions Reporting Act of 1970—which legislative framework is commonly referred to as the…

Where does Steve Mnuchin live now? teven Mnuchin’s New York City apartment looks like the home of a treasury secretary. The elevator opens to a gallery with a marble floor, an 11-foot ceiling and a staircase adorned with elegant swirls that resemble dollar signs. How did Steve Mnuchin meet Louise…

Accessing and Checking Your U5FINRA maintains a database of all registered brokerage firms, companies, and stockbrokers within the securities industry. This is known as the Central Registration Depository (CRD), and the information on your Web CRD is going to be found on BrokerCheck. What is U5 for? The Form U5…

SEC compliance is adherence to the rules and regulations that the Securities and Exchange Commission makes and enforces. What is the SEC and what does it regulate? The Securities and Exchange Commission (SEC) is the federal government agency responsible for regulating and enforcing federal securities laws. Who needs to comply…

Regulations Can Increase Costs The most obvious effect of a government regulation is an increase in the cost of materials or labor necessary to make a product or deliver a service. What are the effects of government regulation? According to critics, government regulations slow disruptive innovations and fail to adapt…

Rule 144(a)(3) identifies what sales produce restricted securities. Control securities are those held by an affiliate of the issuing company. An affiliate is a person, such as an executive officer, a director or large shareholder, in a relationship of control with the issuer. What is an affiliate 144? Rule 144…

What does SAR stand for in banking? Suspicious Activity Reports Share This Page: As of April 1, 2013, financial institutions must use the Bank Secrecy Act BSA E-Filing System in order to submit Suspicious Activity Reports. What is SAR in money laundering? Suspicious Activity Reports (SARs) alert law enforcement to…

Regulation S-K is generally focused on qualitative descriptions while the related Regulation S-X focuses on financial statements. What does Regulation SX apply to? Regulation S-X is a U.S. Securities and Exchange Commission rule that covers annual reports and financial statements from companies. What is an SK report? Regulation S-K is…

What does Rule 144A say? Rule 144A provides a mechanism for the sale of securities that are privately placed to QIBs that do not—and are not required—to have an SEC registration in place. Instead, securities issuers are only required to provide whatever information is deemed necessary for the purchaser before…

The federal regulators are: The Office of the Comptroller of the Currency (OCC) The Federal Reserve System. The FDIC. What is a federal regulatory agency? Federal regulatory agencies are regulatory agencies that function on behalf of the federal government. Below is a list of some regulatory agencies in the U.S.…

https://www.sec.gov/Archives/edgar/data/51143/ How do I get access to EDGAR? You can access EDGAR through one of the three websites—the EDGAR Filer Management Website, the EDGAR Filing Website, and the EDGAR OnlineForms Management Website. Please be sure to use the correct website for your filing needs. How do I use EDGAR database?…