There is nothing we at Bankless Times like more than to profile the innovative doings of creative business types from around the world.
Sometimes, however, our focus shifts to government regulation – what they are doing, what they are not doing, and what they should be doing.
Government’s relationship with banks and corporations, and their efforts to enact regulations make up most of today’s Daily Dig.
SEC guidance helps take the crowd out of Michigan crowdfunding
The fact that social media accounts reach people outside individual states of origin is a problem for the SEC as it regulates how companies can promote equity offerings. Using Facebook, Twitter, LinkedIn and the like will probably be taboo, says Brian Edwards.
Errant capital ratio calculation forces B of A to cancel plans to pay shareholders
Bank of America was planning on paying dividends and undertaking a stock buyback, but the Fed put the kibosh on that when it discovered B of A made an “incorrect adjustment” related to previous bad debts, reports Matt Egan.
Heavy hitters protest increased government scrutiny
PIMCO, BlackRock and other global financial heavyweights are protesting plans for government to enact tougher regulations on their activities, saying, among other things, that proposed regulations do not accurately consider the risks involved in some of their undertakings. Jim Brundsen of Bloomberg breaks it down.
German banks may have to triple their existing payments into proposed new stability fund
Plans for a new European bank restructuring fund could see German banks pay three times what they currently are into a similar fund. Germany is pushing for a bigger share to fall on the bigger banks with a smaller share or outright exemption for smaller banks with little risk of contagion, according to a Reuters report.
Oxfam report criticizes Aussie big bank dealings in developing world