{"id":17246,"date":"2010-08-17T06:45:28","date_gmt":"2010-08-17T10:45:28","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=17246"},"modified":"2010-08-17T06:56:45","modified_gmt":"2010-08-17T10:56:45","slug":"grant-thornton-llp-outlines-key-financial-reform-issues-in-dodd-frank-act","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/08\/2010\/grant-thornton-llp-outlines-key-financial-reform-issues-in-dodd-frank-act.html","title":{"rendered":"Grant Thornton LLP outlines key financial reform issues in Dodd-Frank Act"},"content":{"rendered":"<p>HedgeCo.net (Whitepaper) &#8211; The  recently enacted Dodd-Frank  Wall Street Reform and Consumer Protection Act (the Act) will change the  landscape for financial services firms and financial institutions. The  Act addresses  four major issues: transparency, risk management, accountability and  structural oversight; and will create new regulators, bring new firms  and markets under regulatory oversight, and provide new rulemaking and  enforcement powers to regulators.<\/p>\n<p>Although  central elements of the Act focus on regulating the financial services  sector, it also includes provisions affecting every public company,  including  enhanced SEC enforcement authority and additional corporate governance  requirements.<\/p>\n<p>Grant  Thornton LLP\u2019s Financial Service practice has created a paper \u2013     <em><a rel=\"nofollow\" href=\"http:\/\/www.gt.com\/portal\/site\/gtcom\/menuitem.8f5399f6096d695263012d28633841ca\/?vgnextoid=fd228e106cc5a210VgnVCM1000003a8314acRCRD\" target=\"_blank\">Financial   reform: What public companies  and their audit committees need to know about the Dodd-Frank Act<\/a><\/em>\u2013 that<em> <\/em>outlines some key financial  reform issues that public companies and their audit committees should  understand, as well as actions they can consider to help guide their  companies through  this changing regulatory landscape.<\/p>\n<p>\u201cAlthough many audit committee members  may not want  to mire themselves in the minutiae of this complex legislation, they  need to know that the important details are being addressed by their  management teams,\u201d noted Jack Katz, national managing  partner of Grant Thornton\u2019s Financial Services practice.<\/p>\n<p><strong>Some of the  issues covered in the paper include:<\/strong><\/p>\n<p><a href=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2010\/08\/Dodd-Frank1.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-full wp-image-17251\" title=\"Dodd-Frank\" src=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2010\/08\/Dodd-Frank1.jpg\" alt=\"\" width=\"291\" height=\"200\" \/><\/a>1.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Enhanced whistleblower  protections<\/p>\n<p>2.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Nonbinding shareholder  votes on \u201cSay on Pay\u201d and golden parachutes<\/p>\n<p>3.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Risk committees<\/p>\n<p>4.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Independence of  compensation committees<\/p>\n<p>5.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 SOX Section 404 (b)  exemption<\/p>\n<p>To download a full copy of <em>Financial reform: What public companies and their  audit committees need to know about the Dodd-Frank Act<\/em>,  please click     <a rel=\"nofollow\" href=\"http:\/\/www.gt.com\/portal\/site\/gtcom\/menuitem.8f5399f6096d695263012d28633841ca\/?vgnextoid=fd228e106cc5a210VgnVCM1000003a8314acRCRD\" target=\"_blank\"> here<\/a>.<\/p>\n<p>Many  of the specific rules of the Act have  yet to be shaped by regulators, and firms must stay a step ahead. To  help companies navigate this uncharted territory, Grant Thornton LLP has  created the Financial Regulatory  Reform Resource Center. For more information about the legislation and  emerging issues from the legislation, visit     <a rel=\"nofollow\" href=\"http:\/\/www.grantthornton.com\/financialreform\" target=\"_blank\">www.GrantThornton.com\/financialreform<\/a>.<\/p>\n<p>Editing by Alex \u00c5kesson<\/p>\n","protected":false},"excerpt":{"rendered":"<p>HedgeCo.net (Whitepaper) &#8211; The recently enacted Dodd-Frank Wall Street Reform and Consumer Protection Act (the Act) will change the landscape for financial services firms and financial institutions. The Act addresses four major issues: transparency, risk management, accountability and structural oversight; [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12,3],"tags":[],"class_list":["post-17246","post","type-post","status-publish","format-standard","hentry","category-hedge-fund-regulation","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/17246","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=17246"}],"version-history":[{"count":4,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/17246\/revisions"}],"predecessor-version":[{"id":17249,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/17246\/revisions\/17249"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=17246"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=17246"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=17246"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}