Conduct Risk and Financial Stability [11]

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Bullet points include: Title. Comments (non-exhaustive). Financial Stability. Overarching macro-prudential bias of the Act. Orderly Liquidation Authority. c.f. importance now placed on “resolvability”. Transfer of Powers to the Comptroller, the FDIC, and the Fed. Streamlining banking regulation. Regulation of Advisers to Hedge Funds and Others. Catches entities who did not previously need to register as advisors. Insurance. Reflects view that insurance can also be ‘systemically important’. Improvements to Regulation. Limits bank proprietary trading. Wall Street Transparency and Accountability. More regulation of derivatives markets, e.g. OTC swaps. Payment, Clearing and Settlement Supervision. Seeks to mitigate systemic risk in these areas. Investor Protections and Improvements to the Regulation of Securities. Addresses e.g. powers and structure of SEC, regulation of credit rating organisations and client-broker interactions. Bureau of Consumer Financial Protection. Bureau will regulate consumer financial products and services. Federal Reserve System Provisions. Introduces some changes to how Fed operates. Improving Access to Mainstream Financial Institutions. Incentivises financial system participation for lower-income people. Pay It Back Act. Identifies how TARP etc. would be unwound. Mortgage Reform and Anti-Predatory Lending Act. E.g. imposes obligations on mortgage originators vs borrowers. Miscellaneous Provisions. Miscellaneous. Section 1256 Contracts. Refers to tax treatment of some futures contracts

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