Thursday, February 12, 2015

SEC Chair Mary Jo White Provides Status Update On Dodd-Frank Act Implementation

On Feb. 12, SEC Chair Mary Jo White made the opening remarks at the first meeting of the Investor Advisory Committee which was established by Section 911 of the Dodd-Frank Act. The committee is tasked with providing advice to the SEC on the regulation of securities products, trading strategies, fee structures, and the effectiveness of disclosures.
Good morning, and welcome to this year’s first meeting of the Investor Advisory Committee. Thank you all for making time in your busy schedules to be here. Today, I want to very briefly update you on a few recent developments at the Commission and give you a glimpse of some of what lies ahead in 2015.
White proceed to provide an update on several rules that regulate market technology and enhance disclosures to investors:
  • In November, the SEC adopted Regulation Systems Compliance and Integrity (“Regulation SCI”) which applies to the regulation and disclosure of "exchanges, clearing agencies, FINRA, the MSRB, securities information processors, and alternative trading systems accounting for the bulk of equity trading on such systems." 
  • In December, White recounts the announcement that the Division of Investment Management is developing recommendations for the SEC to address portfolio composition with the aim of modernizing and enhancing data reporting for funds and investment advisers. 
  • White also discusses the two rules adopted already in 2015, 1) under Title VII of the Dodd-Frank Act, which brings transparency in the over-the-counter derivatives market, and 2) the requirement of disclosure about whether directors, officers and other employees are permitted to hedge the market value of securities obtained through equity-based compensation.
Looking ahead, White discussed the continued implementation of the Dodd-Frank and JOBS Act mandates, including:
the additional Title VII and executive compensation rulemakings under Dodd-Frank, as well as Regulation A and crowdfunding under the JOBS Act. We will also be busy in a number of other important areas, including, to name just a few, enhancements of our equity and fixed income market structure, the asset management initiatives I mentioned, our disclosure effectiveness review, and enhancing broker-dealer financial responsibility requirements.
To read the full speech, click here.

If you like what you're reading, please join my mailing list to receive blog posts and updates as they occur. If you're an investor with all of your assets tied up in the stock market and cash, you might want to consider a few diversification strategies. Gold is the oldest asset in the world and it's inflation proof. Bitcoin is the gold standard for the cryptocurrency world, which is the fastest growing asset class in the world. Diversifying your portfolio into one or both of these assets can help to insure your portfolio against a stock market crash or inflation. Most importantly, it can help to safeguard the gains you've made over the last 10 years.

Please note that there are other companies that sell gold and Bitcoin on the market, and you should always do your research when making decisions about your portfolio. Just like your personal health, if you're planning on having major surgery, you need to get a second, and sometimes a third, opinion. You want to make sure your surgeon is good and has performed the procedure many, many times.  In the same way, you need to trust your broker and you need to make sure they are reputable. This is the process I used when looking for a broker to recommend.

Full disclosure: RegalAssets compensates me for everyone I send their way, but I would receive compensation from any company I chose to recommend. The only broker I'm recommending is Regal, primarily due to its innovative product offering in my favorite commodities - gold, precious metals and cryptocurrency like Bitcoin. They also have a distinguished track record for success (see below).

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