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Tag Archive: Transparency

Powerful financial council could deny or delay public information

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A newly created powerful federal financial council will have broad latitude to deny or delay Freedom of Information Act (FOIA) requests if it adopts proposed rules, charges a financial watchdog group.

Under the Dodd-Frank financial reform law, the new Financial Stability Oversight Council (FSOC), is explicity made subject to the Freedom of Information Act. The Council, whose members are representatives of major financial agencies, has authority to collect wide-ranging information about financial institutions, such as internal company documents, in its mission to ensure the stability of the financial system. In late March, the Council published proposed rules on how the ...

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Major banks use one lobbyist to team up on Dodd-Frank

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The international law firm, Cleary, Gottlieb, Steen and Hamilton LLP, is lobbying Congress on behalf of three of the world’s biggest financial institutions regarding the derivatives market -- one of the major issues tackled by the Dodd-Frank financial reform legislation, according to disclosure forms filed this year.

A lawyer with the firm, Edward Rosen is lobbying Congress on behalf of Credit Suisse, BNP Paribas and Wells Fargo regarding the Commodity Futures Trade Commission’s (CFTC) proposal to regulate swaps dealers, increase transparency in the derivatives market and force standardized derivatives into a clearinghouse to ultimately lower the risk incurred from ...

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