Feb
25
Sorting Out Dodd-Frank’s Treatment of Failed Broker-Dealers
ByAll the relevant financial regulators recently got together and released proposed rules regarding the treatment of failed broker-dealers under Dodd-Frank’s Title II (also known as “orderly liquidation authority”). The proposed rules are long, and there was little attention.
But there was one interesting bit: namely, the assertion in the proposed rules that when Dodd-Frank says there is to be “an application for a protective decree under the Securities Investor Protection Act of 1970 as to the covered broker or dealer,” it does not actually mean there would be a case filed under the Securities Investor Protection Act…
Sorting Out Dodd-Frank’s Treatment of Failed Broker-Dealers
