Financial markets regulation (1 - 10 of 49 items)
Financial Regulation: Complex and Fragmented Structure Could Be Streamlined to Improve Effectiveness
GAO-16-175: Published: Feb 25, 2016. Publicly Released: Mar 28, 2016.
The U.S. financial regulatory structure is complex, with responsibilities fragmented among multiple agencies that have overlapping authorities. As a result, financial entities may fall under the regulatory authority of multiple regulators depending on the types of activities in which they engage (see figure on next page). While the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Fr...
Troubled Asset Relief Program: Winding Down the Capital Purchase Program
GAO-15-367R: Published: Mar 6, 2015. Publicly Released: Mar 6, 2015.
The Department of the Treasury (Treasury) continues to make progress in winding down the Capital Purchase Program (CPP), and returns have surpassed original CPP investments. As of December 31, 2014, Treasury had received $226.4 billion in repayments, sales, dividends, and interest from its CPP investments, exceeding the amount originally disbursed by $21.5 billion. After accounting for write-offs...
Dodd-Frank Regulations: Regulators' Analytical and Coordination Efforts [Reissued on December 18, 2014]
GAO-15-81: Published: Dec 18, 2014. Publicly Released: Dec 18, 2014.
Federal financial regulators—Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency, National Credit Union Administration, Consumer Financial Protection Bureau, Commodity Futures Trading Commission, and the Securities and Exchange Commission—have continued to conduct required regulatory analyses for rules issued pursua...
Financial Stability Oversight Council: Status of Efforts to Improve Transparency, Accountability, and Collaboration
GAO-14-873T: Published: Sep 17, 2014. Publicly Released: Sep 17, 2014.
The Financial Stability Oversight Council's (FSOC) has taken steps to address some of GAO's September 2012 recommendations, but additional efforts are needed. GAO made nine recommendations to FSOC in three areas: emerging threats and risks identification, transparency and accountability, and collaboration and coordination. GAO recommended, among other things, that FSOC:develop a systematic approac...
State Small Business Credit Initiative: Opportunities Exist to Enhance Performance Measurement and Evaluation
GAO-14-97: Published: Dec 18, 2013. Publicly Released: Dec 18, 2013.
As of June 30, 2013, State Small Business Credit Initiative (SSBCI) participants--states, territories, and municipalities--had used $549 million of the $1.5 billion the Department of the Treasury (Treasury) allocated to them, nearly four times the amount used as of June 30, 2012. However, the rates at which participants have used funds continue to vary, as shown below. While initial challenges gen...
Troubled Asset Relief Program: GAO's Oversight of the Troubled Asset Relief Program Activities
GAO-13-840R: Published: Sep 6, 2013. Publicly Released: Sep 6, 2013.
GAO's oversight has been comprehensive. To date, we have issued 65 products on the Troubled Asset Relief Programs (TARP) and activities and we have made 99 performance and financial statement audit recommendations. Our reviews have focused on several key areas, including the activities initiated under TARP and the challenges encountered in implementing them, Treasury's process for deciding how to...
Automated Teller Machines: Some Consumer Fees Have Increased
GAO-13-266: Published: Apr 11, 2013. Publicly Released: Apr 11, 2013.
Automated teller machine (ATM) operators include financial institutions--banks and credit unions--as well as independent firms. Industry representatives GAO spoke with estimate there are approximately 420,000 ATMs in the United States. They estimate that financial institutions operate and set the fees for about half of the market, and independent operators work together with merchants to operate t...
Political Intelligence: Financial Market Value of Government Information Hinges on Materiality and Timing
GAO-13-389: Published: Apr 4, 2013. Publicly Released: Apr 4, 2013.
The Stop Trading on Congressional Knowledge (STOCK) Act of 2012 specifically defines political intelligence as information that is "derived by a person from direct communications with an executive branch employee, a Member of Congress, or an employee of Congress; and provided in exchange for financial compensation to a client who intends, and who is known to intend, to use the information to infor...
Financial Regulatory Reform: Regulators Have Faced Challenges Finalizing Key Reforms and Unaddressed Areas Pose Potential Risks
GAO-13-195: Published: Jan 23, 2013. Publicly Released: Jan 23, 2013.
Implementation of financial regulatory reform is ongoing. Although regulators have made progress in implementing some key reforms required by the Dodd- Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Act), others remain incomplete. Moreover, the effectiveness of some implemented reforms, as illustrated below, remains to be seen.The Financial Stability Oversight Council (FS...
Dodd-Frank Act: Agencies' Efforts to Analyze and Coordinate Their Rules
GAO-13-101: Published: Dec 18, 2012. Publicly Released: Dec 18, 2012.
Federal agencies conducted the regulatory analyses required by various federal statutes for all 54 regulations issued pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) that GAO reviewed. As part of their analyses, the agencies generally considered, but typically did not quantify or monetize, the benefits and costs of these rules. Most of the federal financi...