In July 2010, the Dodd-Frank Wall Street Reform and Consumer Protection Act was signed into law. The critical task for the Dodd-Frank Act is to address the increasing propensity of the financial sector to put the entire system at risk to eventually be bailed out at taxpayer expense.
In doing so, it attempts to:
- Identify and regulate systemic risk;
- Propose an end to too-big-to-fail;
- Expand the responsibility and authority of the Federal Reserve;
- Restrict discretionary regulatory interventions;
- Reinstate a limited form of Glass-Steagall (the Volcker Rule) and;
- Regulate the transparency of derivatives.
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● Dodd-Frank Section 922 ►
As part of the identification and regulation of systematic risk, the Act's Section 922 mandates the setup of a program to pay awards (up to 30 percent) to eligible whistleblowers who voluntarily provide original information about potential securities law violations that lead to sanctions of $1 million or more. The premise being that, if whistleblowers feel safe or are provided some sort of incentive to come forward as fraud is discovered; perhaps any future economic issues will take a different course.
● Learn more about EthicsPoint’s Solution ►
All of our solutions feature:
- Flexible, client-defined configuration
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- On-demand, Software-as-a-Service (SaaS) delivery
- Issue & Event Manager Case Management Compliance Attestation
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