Services News 2001
- The House Financial Services Committee recently held hearings
on "America's Insurance Industry: Keeping the Promise."
To read the transcripts for this hearing, along with Chairman
Michael Oxley's opening statement, visit: http://www.house.gov/financialservices/092601tc.htm.
Pursuant to rule 3(d) of the Rules of the Committee
on Financial Services, the Committee on Financial Services has
scheduled a hearing on Wednesday, September 26, 2001, at 9:30
a.m., in 2128 Rayburn House Office Building, entitled "America's
Insurance Industry: Keeping the Promise". Witnesses will
be by invitation only.
At the beginning of the hearing, the Committee will receive
a brief update on the status of the Nation's securities markets
from the Chairman of the Securities and Exchange Commission,
the Honorable Harvey Pitt. Following Chairman Pitt's brief
testimony, the Committee will hear testimony from a panel
of witnesses on the status of the insurance industry. In order
to permit Members, staff, and the witnesses to observe the
Yom Kippur holy day, it is the Chair's intention to conclude
the hearing not later than 1 p.m. The cooperation of all Members
in this regard will be appreciated.
A staff briefing for this hearing will be held on Monday,
September 24, 2001, at 5 p.m. in room 2220 Rayburn House Office
If you have any questions concerning this hearing, please
contact Robert Gordon or Charles Symington at extension 202-225-7502
- REAL ESTATE SERVICES UNDER GRAMM-LEACH-BLILEY
September 20, 2001
12:00 noon -- 1:30 p.m.
National Press Club
The Federalist Society's Financial Services Practice Group
will host a briefing on the Federal Reserve Board's and the
Treasury Department's proposal to permit financial holding companies
and financial subsidiaries of national banks to offer real estate
brokerage and real estate management services, as authorized
by the Gramm-Leach-Bliley Act.
Rich Whiting, Financial Services Roundtable
Andrew Cochran, Commitee on Financial Services, U.S.
House of Representatives
RSVP to firstname.lastname@example.org
or by calling (202) 822-8138.
August 31, 2001
- Todd Zywicki has written an article in the Spring 2001 issue
of Texas Review of Law & Politics concerning "Bankruptcy
Law as Social Legislation." The article examines the idea
of bankruptcy law as social legislation, investigating the implicity
moral and social judgments embedded in bankruptcy law and in the
recent arguments over the propriety of bankruptcy reform legislation.
July 23, 2001
July 18, 2001
July 11, 2001
- The SEC says it currently has about 260 accounting investigations
underway, according to the Wall Street Journal. See: http://www.cfo.com/article/1,4616,0|83|AD|4036,00.html
- "Congress May Hold Hearings on Accounting Fraud" http://www.cfo.com/article/1,4616,0|83|AD|4052,00.html
- CFO.com has created a special report for entitled, "The
Goodwill Games: How to Tackle FASB's New Merger Rules." This
package provides tips on understanding the rules, tackling the
goodwill impairment test, surviving SEC inquiries, and finding
valuation experts. It also includes articles from both CFO.com
and CFO Magazine, an extensive Web directory and dedicated message
boards. Visit the comprehensive guide at http://links.cfo.com/tracker1/fasb.
- "Law Firms Scramble to Meet FTC Rule" Many law firms
have not realized that certain kinds of their activities were
affected by the privacy policies of the Gramm-Leach-Bliley Act.
July 3, 2001
- July 1 marks the deadline for U.S. banks, brokers, insurers,
and a host of other companies providing financial services to
be in compliance with new privacy protections included in a landmark
1999 banking law. The law for the first time requires financial
firms to tell customers how their personal information is collected
and used, and to allow them to block some of it -- like account
balances, account numbers or spending records -- from being sold
to outside companies, such as telemarketers.
May 16, 2001
April 11, 2001
- Internet Privacy laws expanded beyond court room -- Is the Constitutional
right to freedom of Speech at risk? http://www.wired.com/news/politics/0,1283,42894,00.html
- HEARING OF THE COMMERCE, TRADE AND CONSUMER PROTECTION SUBCOMMITTEE
OF THE HOUSE ENERGY AND COMMERCE COMMITTEE
SUBJECT: AN EXAMINATION OF EXISTING FEDERAL STATUES ADDRESSING
CHAIRED BY: REP. CLIFF STEARNS (R-FL)
WITNESSES: PANEL I MICHAEL LAMB, CHIEF PRIVACY OFFICER,
CORPORATION; RICHARD VARN, CIO, STATE OF IOWA; ANNE FORTNEY,
MANAGING PARTNER, LOVELLS; RICK FISCHER, PARTNER, MORRISON AND
FOERSTER; RICHARD SMITH, CHIEF TECHNOLOGY OFFICER, THE PRIVACY
PANEL II RONALD PLESSER, PARTNER, MARBURY, RUDNICK
AND WOLFE; RICHARD VARN, CHIEF INFORMATION OFFICER, THE STATE
OF IOWA; FRANK TORRES, LEGISLATIVE COUNSEL, THE CONSUMER UNION;
JONATHAN ZUCK, PRESIDENT OF ASSOCIATION FOR COMPETITIVE TECHNOLOGY;
ED MIERZWINSKI, CONSUMER PROGRAM DIRECTOR, U.S. PUBLIC INTEREST
2123 RAYBURN HOUSE OFFICE BUILDING, WASHINGTON, D.C.
2:00 P.M. TUESDAY, APRIL 3, 2001
- Protecting Online Privacy: Government Regulation or Free
by Douglas J. Wood
Working Paper, Washington Legal Foundation
The rapid expansion of the Internet as a means of commerce has
given rise to concerns over how advertisers and businesses collect
and use information on customers who visit their web sites. The
high-profile efforts of privacy activists and a steady stream
of anecdotes and foreboding articles in the mass media have created
the impression that violations of consumers rights are rampant,
and that only government action can stop them. But as this publication
argues, if policy makers embrace this view without considering
the benefits of information collection and the merits of self-regulation,
their actions could seriously threaten the viability of the Internet
as a New Economy engine of economic growth. In making out this
case, the author examines the ongoing drive towards and benefits
of online self-regulation, as well as how government agencies
are enforcing the existing laws effectively against egregious
privacy violators. 42pp. CONTACT: http://www.wlf.org.
- A Policy for E-Commerce: Stifle Regulation, Not Innovation
by Richard J. Mahoney
CEO Series No. 44, Weidenbaum Center
This essay deals exclusively with the regulatory aspect of e-commerce.
It outlines ten E-Commerce Regulatory Guidelines broad
principles for legislators and regulators to consider in developing
rules for e-commerce oversight. All are based on the overriding
principle of "act only if the market fails or is highly likely
to fail in protecting citizens and consumers."
March 7, 2001
February 20, 2001
2006 The Federalist Society