Contact Information
Leslie Bo nacum
847-267-7153
mediahelp@cch.com
Neil Allen
847-267-2179
neil.allen@wolterskluwer.com
New CCH White Paper Provides In-depth Look at Provisions of Financial Regulatory
Reform Legislation
(RIVERWOODS, ILL., January 5, 2010) – A new white paper from CCH provides in-depth
analysis of the securities, derivatives, corporate governance, systemic risk and
dissolution authority components of the Wall Street Reform and Consumer Protection Act ,
passed by the House in December. CCH is part of Wolters Kluwer Law & Business, a
leading provider of research information and software solutions in key specialty areas for
legal and business professionals (business.cch.com).
To read the special new report, House Passes Historic Securities, Derivatives and
Systemic Risk Reforms: HR 4173 , click here, or visit
www.cch.com/press/news/CCHWhitePaperHR4173.pdf.
“This bill would be the most significant reform of the U.S. financial system since the New
Deal of the 1930s,” said white paper author and CCH Principal Securities Analyst Jim
Hamilton, JD.
The legislation would create a Financial Services Oversight Council to monitor
systemically significant financial institutions, counterparties and potential threats to the
financial system. This ensures that there is no place to hide by closing loopholes,
improving consolidated supervision and establishing robust regulatory oversight.
The measure also would provide for the orderly wind-down of failing firms that are
systemically significant, ending the notion of “too big to fail.” By dissolving these firms,
the Act would end them and avoid more taxpayer bailouts. The bill also offers robust
consumer protections and reforms. It puts the regulation of consumer protection on a
level playing field with the regulation of safety and soundness of financial institutions. It
would create an independent agency focused solely on writing meaningful consumer
protection standards and keeping watch over predatory practices that some lenders have
shown a propensity to pursue.
Moreover, the legislation increases transparency and accountability by establishing, for
the first time, a regulatory system for the over-the-counter derivatives market. Under the
new regime, most derivative trades will take place on exchanges or through
clearinghouses. Other important aspects of the bill include the registration of hedge
funds and the doubling of SEC funding to hire more experts and investigators. Investor
protection is substantially strengthened. Also, the regulation of credit rating agencies is
enhanced under a new regime supervised by the SEC. A federal insurance office is
created to gather information, mitigate systemic risk and provide for insurance expertise
to the federal government.
The legislation passed by the House is different from the proposal issued by the Senate
Banking Committee last year. A conference committee will likely have to iron out any
differences, assuming that the Senate proposal is passed by the full body.
For More Information
Members of the press interested in speaking with CCH securities and banking law experts
should contact: Leslie Bonacum at 1-847-267-7153, mediahelp@cch.com; or Neil Allen at
1-847-267-2179, neil.allen@wolterskluwer.com.
For a copy of the white paper, House Passes Historic Securities, Derivatives and Systemic
Risk Reforms: HR 4173 , click here, or visit
www.cch.com/press/news/CCHWhitePaperHR4173.pdf.
CCH Financial Crisis News Center
CCH also offers a wealth of special resources related to the financial crisis at the CCH
Financial Crisis News Center, financialcrisisupdate.com. The Center provides the legal
community and others with a cohesive and robust selection of breaking news stories,
analysis and links to the full text of source documents for regulatory actions and serves
as a central entry point for CCH banking and securities law resources related to the
crisis.
About Wolters Kluwer Law & Business
Wolters Kluwer Law & Business is a leading provider of research products and software
solutions in key specialty areas for legal and business professionals, as well as casebooks
and study aids for law students. Its major product lines include Aspen Publishers, CCH,
Kluwer Law International and Loislaw. Its markets include health care organizations, law
firms, law schools, corporate counsel and professionals requiring legal and compliance
information. Wolters Kluwer Law & Business, a unit of Wolters Kluwer, is based in New
York City and Riverwoods, Ill.
Wolters Kluwer is a leading global information services and publishing company. The
company provides products and services for professionals in the health, tax, accounting,
corporate, financial services, legal, and regulatory sectors. Wolters Kluwer had 2008
annual revenues of €3.4 billion, employs approximately 20,000 people worldwide, and
maintains operations in over 35 countries across Europe, North America, Asia Pacific, and
Latin America. Wolters Kluwer is headquartered in Alphen aan den Rijn, the Netherlands.
Its shares are quoted on Euronext Amsterdam (WKL) and are included in the AEX and
Euronext 100 indices. Visit www.wolterskluwer.com for information about our market
positions, customers, brands, and organization.
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