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Entries in Securities (6)


Upcoming Event: Hot Compliance Topics in a Cyber World

On May 3, Susan Bryant of Verrill Dana, LLP will present a session entitled "Hot Compliance Topics in a Cyber World" at the Maine Bankers Association Trust & Wealth Management Conference at the Harraseeket Inn in Freeport, Maine.  

In this presentation, Susan will cover issues that currently concern regulators and how to build a compliance program to address such issues as cybersecurity, risk management, working with third parties, privacy/confidentiality, the Volcker Rule, fraud prevention, and the new anti-money laundering rule. Susan will also cover the requirements of an adequate compliance program, from adopting written policies and procedures to establishing controls and reporting to senior management.

Susan Bryant is a member of Verrill Dana’s Securities Law Group and the firm’s Business Law Group.  Susan is based in Portland, Maine and Westport, CT.

Learn more and register for the conference online here.


Executive Compensation Reporting After Dodd-Frank

Financial institutions are subject to numerous rules governing compensation, including a number we have discussed in prior blog entries.  Among the new regulatory developments arising from Dodd-Frank are new disclosure requirements with respect to compensation paid to executives who work at SEC-reporting companies.  One example is the “say-on-pay” rule promulgated by the Securities and Exchange Commission (“SEC”), which is already impacting SEC-reporting financial institutions.  Additional requirements are already in the SEC’s pipeline.  Greg Fryer and Gabriel Weiss, members of Verrill Dana's Securities Law Group, have written an article on recent developments in executive compensation disclosures under Dodd-Frank, applicable to SEC-reporting institutions.  In their article, Executive Compensation Reporting After Dodd-Frank: Where We Came From and Where We Are Heading, the authors discuss the evolution of executive compensation reporting requirements and a look at additional future complexities that will be coming down the road.


OCC Issues Guidance Regarding Capital Planning and Adequacy

The Office of the Comptroller of the Currency (“OCC”) recently issued Guidance for Evaluating Capital Planning and Adequacy (the “Guidance”). Although the Guidance is intended to apply to national banks and federal savings associations, the principles should be studied and considered by other banking institutions.

Click to read more ...


Volcker Rule Update: Industry Concerns with the Proposed Rule Persist

There have been a number of recent developments with efforts to finalize the Volcker Rule (the “Rule”). The Rule will prohibit FDIC-insured financial institutions and certain other banking entities from engaging in activities that fall under the Rule’s umbrella definition of proprietary trading.

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Recent Guidance for Maine-Licensed Investment Advisers

Last month, the staff of the Maine Office of Securities hosted two seminars focused on certain differences between SEC and Maine regulation of investment advisers.  SEC-registered investment advisers preparing to switch to Maine regulation as a result of the Dodd-Frank Act “IA switch”, and investment advisers already licensed in Maine, should review some of the best practices highlighted by the Maine Office of Securities at the seminars.  For more information, refer to a recent Client Alert published by Molly Callaghan, an attorney in our Business Law Group.

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