04.01.2010

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Updates

Investment Companies

On Thursday, March 25, 2010 the Securities and Exchange Commission announced that it is conducting a review to evaluate the use of derivatives by mutual funds, exchange-traded funds and other investment companies. The review aims at determining what additional protections may be needed for those funds under the Investment Company Act of 1940.

Consumer Protection for Military Families

Also on Thursday, March 25, 2010, Treasury Secretary Geithner hosted a roundtable discussion to hear from military advocacy groups and Department of Defense personnel regarding consumer protection issues facing those in the military and their families.  Following the discussion, Secretary Geithner and David Julian, Director, Office of Personal Finance, Department of Defense, issued remarks regarding the predatory consumer practices that military families face and the need for increased consumer protection.

Reaction to the Dodd Bill

Republican Senator Bob Corker told the Wall Street Journal on Tuesday, March 30, 2010, that he "absolutely cannot support" Senator Dodd's proposed regulatory reform bill in its current form.  Sen. Corker stated that he is "not throwing in the towel," however, and hopes to go back to the negotiating table on the measure.