Developments in Securities Regulation, Corporate Governance, Capital Markets, M&A and Other Topics of Interest. MORE

The Department of the Treasury has issued a proposed rule to implement Section 155 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, which directs the Department to establish by regulation an assessment schedule for bank holding companies with total consolidated assets of $50 billion or greater and nonbank financial companies supervised by the Board of Governors of the Federal Reserve to collect assessments equal to the total expenses of the Office of Financial Research, or OFR. Included in the OFR’s expenses are expenses of the Financial Stability Oversight Council, or FSOC, as provided under Section 118 of the Dodd-Frank Act, and certain expenses of the Federal Deposit Insurance Corporation, as provided under Section 210 of the Dodd-Frank Act. The proposed rule outlines the key elements of Treasury’s assessment program, which will collect semiannual assessment fees from these companies beginning on July 20, 2012.

Check dodd-frank.com frequently for updates on the Dodd-Frank Act and other important securities law matters.

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