Securities (21 - 30 of 328 items)
Private Fund Advisers: Although a Self-Regulatory Organization Could Supplement SEC Oversight, It Would Present Challenges and Trade-offs
GAO-11-623: Published: Jul 11, 2011. Publicly Released: Jul 11, 2011.
Over the past decade, hedge funds, private equity funds, and other private funds proliferated but were largely unregulated, causing members of Congress and Securities and Exchange Commission (SEC) staff to raise questions about investor protection and systemic risk. To address this potential regulatory gap, the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) brought cert...
Person-To-Person Lending: New Regulatory Challenges Could Emerge as the Industry Grows
GAO-11-613: Published: Jul 7, 2011. Publicly Released: Jul 7, 2011.
Over the last decade, Internet-based platforms have emerged that allow individuals to lend money to other individuals in what has become known as person-to-person lending. These online platforms present a new source of credit for borrowers and a potential investment opportunity for those with capital to lend. Both for-profit and nonprofit options exist, allowing for income-generating and philanthr...
Troubled Asset Relief Program: Status of Programs and Implementation of GAO Recommendations
GAO-11-476T: Published: Mar 17, 2011. Publicly Released: Mar 17, 2011.
This testimony discusses our work on the Troubled Asset Relief Program (TARP), which Congress established on October 3, 2008, in response to the financial crisis that threatened the stability of the U.S. financial system and the solvency of many financial institutions. Under the original TARP legislation, the Department of the Treasury (Treasury) had the authority to purchase or insure $700 billio...
401(K) Plans: Improved Regulation Could Better Protect Participants from Conflicts of Interest
GAO-11-119: Published: Jan 28, 2011. Publicly Released: Feb 28, 2011.
Recent volatility in financial markets highlights the need for prudent investment decisions if 401(k) plans are to provide an adequate source of retirement income. While plan sponsors and participants may receive help in assessing their investment choices, concerns have been raised about the impartiality of the advice provided. GAO was asked to describe circumstances where service providers may ha...
Troubled Asset Relief Program: Third Quarter 2010 Update of Government Assistance Provided to AIG and Description of Recent Execution of Recapitalization Plan
GAO-11-46: Published: Jan 20, 2011. Publicly Released: Jan 20, 2011.
Assistance provided by the Department of the Treasury (Treasury), under the Troubled Asset Relief Program (TARP), and the Board of Governors of the Federal Reserve System (Federal Reserve) to American International Group, Inc. (AIG) represents one of the federal government's largest investments in a private-sector institution since the financial crisis began in 2008. AIG is a holding company that,...
Dodd-Frank Wall Street Reform Act: Role of the Governmental Accounting Standards Board in the Municipal Securities Markets and Its Past Funding
GAO-11-267R: Published: Jan 18, 2011. Publicly Released: Jan 18, 2011.
This letter formally transmits the documents used for an oral briefing we gave to Congress on January 12-13, 2011, in response to the Dodd-Frank Wall Street Reform and Consumer Protection Act. GAO was directed to study the role and importance of the Governmental Accounting Standards Board (GASB) in the municipal securities markets as well as the manner and level at which GASB has been funded. GASB...
Securities and Exchange Commission: Action Needed to Improve Rating Agency Registration Program and Performance-Related Disclosures
GAO-10-782: Published: Sep 22, 2010. Publicly Released: Sep 22, 2010.
In 2006, Congress passed the Credit Rating Agency Reform Act (Act), which intended to improve credit ratings by fostering accountability, transparency, and competition. The Act established Securities and Exchange Commission (SEC) oversight over Nationally Recognized Statistical Rating Organizations (NRSRO), which are credit rating agencies that are registered with SEC. The Act requires GAO to revi...
Defined Benefit Pension Plans: Plans Face Valuation and Other Challenges When Investing in Hedge Funds and Private Equity
GAO-10-915T: Published: Jul 20, 2010. Publicly Released: Jul 20, 2010.
Millions of Americans rely on private or public defined benefit pension plans, which promise to pay retirement benefits that are generally based on an employee's salary and years of service. Plan sponsors are increasingly investing in "alternative" assets such as hedge funds and private equity. This has raised concerns, given that these two types of investments have qualified for exemptions from s...
State-Level Information on Negative Home Equity and Loan Performance in the Nonprime Mortgage Market
GAO-10-633R: Published: May 14, 2010. Publicly Released: Jun 14, 2010.
The decline of home prices in many parts of the country has left millions of homeowners with negative home equity, meaning that their outstanding mortgage balances exceed the current value of their homes. As we reported to you previously, a substantial proportion of borrowers with active nonprime mortgages (including subprime and Alt-A loans) had negative equity in their homes as of June 30, 2009...
Troubled Asset Relief Program: Update of Government Assistance Provided to AIG
GAO-10-475: Published: Apr 27, 2010. Publicly Released: Apr 27, 2010.
Assistance provided by the Department of the Treasury (Treasury) under the Troubled Asset Relief Program (TARP) and the Board of Governors of the Federal Reserve System (Federal Reserve) to American International Group, Inc. (AIG)--a holding company that, through its subsidiaries, is engaged in a broad range of insurance and insurance-related activities in the United States and abroad--represents...