March 12, 2013

More on “Senator Shelby Introduces Dodd-Frank ‘Roll Back’ Bills”

Last week, I blogged that Senator Richard Shelby (R-AL) has introduced two new Dodd-Frank bills, one of which would stop any Dodd-Frank rulemaking in its tracks. After the bills were introduced, as noted in this blog, Senate Banking Committee Chair Tim Johnson (D-SD) said it did not appear that Shelby’s bills were sufficiently bipartisan to merit committee consideration.

So you have one GOP Senator trying to stop all Dodd-Frank rulemaking. And now you have a group of House Republications berating the SEC for not moving fast enough on JOBS Act rulemaking. As noted in this article, this letter to the SEC criticizes the agency for considering rulemaking about political contributions disclosures when some of the JOBS Act deadlines have not yet been met. And this blog from Jim Hamilton says there is bi-partisan House legislation coming that would impose a deadline on the SEC to adopt the Reg A provisions of the JOBS Act.

Meanwhile, this National Journal article tries to explain “What’s Behind the Endless Delays on New Rules for Wall Street?” And finally this Washington Monthly article will finish the job and demoralize you about how our government really works (you’ve seen some of this movie before: Sen. Shelby working behind the scenes to kill a law in the regulatory process)…

The SEC Plans to Launch an XBRL RoboCop!

Recently, this Financial Times article described how the SEC plans to activate within the next nine months a new software program designed to analyze XBRL tags for unusual accounting practices. Here’s a blog on the topic…

Not-So-Happy Anniversary, XBRL

In this article, details how four years of XBRL have resulted in limited use by investors and analysts, as evidenced by this recent study. And here’s a piece about how little financial executives think about XBRL…

– Broc Romanek