Federal Preemption in the Area of Data Security Breach Laws – an update from Jeff Jinnett

As we have noted in previous postings on this weblog, there appears to be an increasing trend toward the federalization of regulatory areas impacting the financial services industry. Thus, the legislation to create a new Consumer Financial Protection Agency (CFPA), which passed out of the House Financial Services Committee on October 22, 2009  includes a…

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Sai Sireesh: Australian secret sauce for managing risk sprinkled with APRA’s Meta Regulation!

I was fortunate enough to have short work stints in Australia (both Sydney and Melbourne), a beautiful country with its free spirited fun loving sporty population. I continue to be amazed at the sophistication and depth of their financial markets. There is also a lot of cross pollination of global markets expertise, ideas and world…

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Jeff Jinnett: The Nimble Approach to Compliance: Multi-Purpose IT Solutions and “Nexialist” Compliance Attorneys

Regulatory compliance has become an increasingly costly burden. For example, SIFMA has estimated that the U.S. securities industry in 2004 spent $23.2 billion on compliance-related activities(1). In addition, regulatory mandates have become more intrusive in their application to how business is conducted. In response to corporate scandals such as Enron, the mandates have shifted from…

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