The Australian Prudential Regulation Authority (APRA) is a statutory authority of the Australian Government and the prudential regulator of the Australian financial services industry. APRA was established on 1 July 1998 in response to the recommendations of the Wallis Inquiry. APRA's authority and scope is determined pursuant to the Australian Prudential Regulation Authority Act, 1998 (Cth).
Options Clearing Corporation (OCC) is a United States clearing house based in Chicago. It specializes in equity derivatives clearing, providing central counterparty (CCP) clearing and settlement services to 16 exchanges. Started by Wayne Luthringshausen and carried on by Michael Cahill. Its instruments include options, financial and commodity futures, security futures and securities lending transactions.
The Committee on Capital Markets Regulation is an independent and nonpartisan 501(c)(3) research organization financed by contributions from individuals, foundations, and corporations.
The Dodd–Frank Wall Street Reform and Consumer Protection Act, commonly referred to as Dodd–Frank, is a United States federal law that was enacted on July 21, 2010. The law overhauled financial regulation in the aftermath of the Great Recession, and it made changes affecting all federal financial regulatory agencies and almost every part of the nation's financial services industry.
Macroprudential regulation is the approach to financial regulation that aims to mitigate risk to the financial system as a whole. In the aftermath of the late-2000s financial crisis, there is a growing consensus among policymakers and economic researchers about the need to re-orient the regulatory framework towards a macroprudential perspective.
Basel III is the third Basel Accord, a framework that sets international standards for bank capital adequacy, stress testing, and liquidity requirements. Augmenting and superseding parts of the Basel II standards, it was developed in response to the deficiencies in financial regulation revealed by the financial crisis of 2007–08. It is intended to strengthen bank capital requirements by increasing minimum capital requirements, holdings of high quality liquid assets, and decreasing bank leverage.
The European Systemic Risk Board (ESRB) is a group established on 16 December 2010 in response to the ongoing financial crisis. It is tasked with the macro-prudential oversight of the financial system within the European Union in order to contribute to the prevention or mitigation of systemic risks to financial stability in the EU. It shall contribute to the smooth functioning of the internal market and thereby ensure a sustainable contribution of the financial sector to economic growth.
The Financial Stability Oversight Council (FSOC) is a United States federal government organization, established by Title I of the Dodd–Frank Wall Street Reform and Consumer Protection Act, which was signed into law by President Barack Obama on July 21, 2010. The Office of Financial Research is intended to provide support to the council.
The Office of Financial Research (OFR) is an independent bureau reporting to the United States Department of the Treasury. It was established by the Dodd–Frank Wall Street Reform and Consumer Protection Act, whose passage in 2010 was a legislative response to the financial crisis of 2007–08 and the subsequent Great Recession. The OFR is tasked with (1) collecting and standardizing data, (2) performing applied research and essential long-term research; and (3) developing risk measurement and monitoring tools. The OFR is also responsible for providing support to the Financial Stability Oversight Council (FSOC).
A systemically important financial institution (SIFI) is a bank, insurance company, or other financial institution whose failure might trigger a financial crisis. They are colloquially referred to as "too big to fail".
The Systemic Risk Council was formed in 2012 by The Pew Charitable Trusts and CFA Institute to help ensure the effective implementation of the Dodd–Frank Wall Street Reform and Consumer Protection Act and related measures related to mitigating systemic risk.
ICE Clear Credit LLC, a Delaware limited liability company, is a Derivatives Clearing Organisation (DCO) previously known as ICE Trust US LLC which was launched in March 2009. ICE offers trade execution and processing for the credit derivatives markets through Creditex and clearing through ICE Trust™. ICE Clear Credit LLC operates as a central counterparty (CCP) and clearinghouse for credit default swap (CDS) transactions conducted by its participants. ICE Clear Credit LLC is a subsidiary of IntercontinentalExchange (ICE). ICE Clear Credit LLC is a wholly owned subsidiary of ICE US Holding Company LP which is "organized under the law of the Cayman Islands but has consented to the jurisdiction of United States courts and government agencies with respect to matters arising out of federal banking laws."
Systemically important financial market utilities (SIFMUs) are entities whose failure or disruption could threaten the stability of the United States financial system. To date eight entities in the U.S. have been officially designated SIFMUs.
Occupy the SEC (OSEC) is an activist group which aims to influence financial regulators to work for the public interest. The "SEC" in its name refers to the US Securities and Exchange Commission, but OSEC's scope covers all financial regulatory activity. OSEC was formed and developed as an outgrowth and working group of Occupy Wall Street.
The Financial Competitive Act of 2013 is a bill that was introduced into the United States House of Representatives during the 113th United States Congress. The bill would require the Financial Stability Oversight Council to conduct a study of "the likely effects that differences between the way the United States and foreign regulators implement the CVA [Credit Valuation Adjustment] would have on financial institutions, users of derivatives, and derivatives markets." The report would be due to Congress within 90 days after the enactment of the act. This study is in response to changes made by the Third Basel Accord, an international agreement among banks and financial regulators. The bill passed the House on July 8, 2013.
Michael Piwowar is a former American federal government official who served as a Commissioner on the Securities and Exchange Commission from 2013 until 2018.
Executive Order 13772, titled "Core Principles for Regulating the United States Financial System", is an executive order signed by U.S. President Donald Trump on February 3, 2017. The eighth executive action by the president during his first 100 days in office, it establishes the "core principles" of regulation under the Trump Administration and tasks the United States Department of the Treasury to review the Financial Stability Oversight Council, originally established under the Dodd–Frank Wall Street Reform and Consumer Protection Act, and report to the President in 120 days on current regulations and their effectiveness in carrying out these core principles.
Heath Price Tarbert is an American lawyer and former government official who most recently served as the 14th Chairman and a Commissioner of the Commodity Futures Trading Commission (CFTC). Prior to leading the CFTC, he served as Assistant Secretary of the Treasury for International Markets and Development and as acting Under Secretary of the Treasury for International Affairs. As of April 6, 2021, he is the Chief Legal Officer of Citadel Securities.
The Dodd–Frank Wall Street Reform and Consumer Protection Act was created as a response to the financial crisis in 2007. Passed in 2010, the act contains a great number of provisions, taking over 848 pages. It targets the sectors of the financial system that were believed to be responsible for the financial crisis, including banks, mortgage lenders, and credit rating agencies. Ostensibly aimed at reducing the instability that led to the crash, the act has the power to force these institutions to reduce their risk and increase their reserve capital.
