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The Washington Examiner: Trump, GOP Want Regulators Out of Boardrooms

...But the push to rein in regulators is about more than a specific rule or law. The effort also includes changing the relationship between banks and government regulators, giving less discretion to government representatives and more latitude to bankers...

The Fed's mandate to ensure the safety of banks "justifies all sorts of secret, behind the scenes arm-twisting," said Paul Atkins, head of the financial consulting firm Patomak Global Partners and former transition adviser to Trump. The regulators' involvement "provides challenges for people trying to operate," he said.

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CNBC.com: To Reform the Housing Market, Get Rid of These Two Bloated Behemoths

By Paul Atkins

News of a bipartisan effort underway in the U.S. Senate to reform the housing finance industry is a welcome development, but the devil is in the details.

Almost a decade after the financial crisis, in addition to repairing damage caused by the flawed Dodd-Frank law, policymakers must work swiftly to wind-down Fannie Mae and Freddie Mac, the two institutions at the heart of the last financial crisis.

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The Hill: Trump's labor chief has a chance to set the fiduciary rule straight

By Paul Atkins

This week, the U.S. Department of Labor’s highly controversial fiduciary rule — crafted during the Obama administration — is slated to go into effect. Fortunately, it is not too late for Labor Secretary Alexander Acosta to take decisive corrective action in light of recently changed circumstances to put the entire flawed rule on hold, but time is running out.

 

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Securities and Exchange Commission Staff Provide Guidance to Investment Advisers on Compliance Requirements for Robo-Advisers

The Securities and Exchange Commission’s Division of Investment Management recently issued guidance for investment advisers about the use of robo-advisers, including suggestions on how to fulfill disclosure, suitability, and compliance requirements under the Investment Advisers Act of 1940, “given the unique challenges and opportunities presented by these programs."

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Client AlertIanthe Zabel
WSJ: SEC Says Conflict Minerals, Pay Ratio Rules Remain In Force

Wall Street Journal CFO reporter Tatyana Shumsky writes:

Companies must continue to comply with the Securities and Exchange Commission’s rules on disclosing “conflict minerals” and the ratio comparing executive pay to the median employee, said Shelley Parratt, acting director of the SEC’s division of corporation finance, on Friday.

SEC acting chairman Michael Piwowar in recent weeks has requested public comment on the two provisions of the Dodd-Frank overhaul law. Mr. Piwowar also instructed SEC staff to look at the rule mandate and see if alternate interpretations could offer some relief to companies trying to comply.

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In the NewsIanthe Zabel
WSJ: President Trump Is Turning to These 8 CEOs on Key Business Issues

Wall Street Journal reporter Sarah Krouse writes: 

President Donald Trump is scheduled to meet with a group of chief executives Friday morning to discuss issues including regulation, trade and women in the workforce. Here is the list of the CEOs who are expected to speak about each topic, as circulated by the White House.

Regulation
Paul Atkins, former Republican member of the Securities and Exchange Commission

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In the NewsIanthe Zabel
Securities and Exchange Commission Details Exam Priorities in 2017

The Securities and Exchange Commission's Office of Compliance Inspections and Examinations recently released its 2017 priorities. This year's areas of focus include examining for cybersecurity; investor protection initiatives; and identifying market-wide risks, including money market fund compliance with new rules and systems compliance integrity. Patomak Global Partners has deep expertise in risk management and compliance to help firms evaluate and enhance existing compliance programs. 

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Client AlertIanthe Zabel
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