Academic

So, in case you're waking up today thinking, I'm going to do a quick read of the Restoring American Financial Stability Act of 2010, a word to the wise.  First, it's really long.  In PDF, on my computer, it's over 800 pages long.  Here's the CRS summary, which printed out to around 50 pages on my computer, but it's six months old and the numbering has changed.  If you are just wondering what's in the Act, here are the high points, and I've starred and bolded sections that I'm hoping to talk about later in the forum.

Title I

Subtitle A, Section 111, et seq. -- establishes Financial Stability Oversight Council; grants powers to the FDIC to do certain things to "prevent systemic financial instability during times of severe economic distress" and broadens its powers.  Also anticipates increased regulation of financial holding companies by the Federal Reserve; established the Office of Financial Research.

Subtitle C, Section 161, et seq. -- redefines "bank holding company"; increases reporting requirements of bank holding companies and increases capitalization requirements.

Title II

Section 201 -- provides for "orderly liquidation" of certain financial companies.

Title III

Subtitle A, Section 311 -- Enhancing Financial Institution Safety and Soundness Act of 2010; transfers functions of the OTS to Board of Governors and OCC.

Subtitle C, Section 331 -- improvements to the Federal Deposit Insurance Fund

Title IV

Section 401 -- requires registration of private fund investment advisers (The Prevent Another Bernard Madoff Act , Part I).

Title V

Subtitle A, Section 501 -- creates Office of National Insurance

Title VII -- Wall Street Transparency and Accountability

**Subtitle A, Section 711 et seq. -- addresses the regulation of derivatives, particularly swaps.

Title IX -- Investor Protections and Improvements to the Regulation of Securities

Subitle A, Section 911  -- Investor Protection Act of 2009; establishes Investor Advisory Committee.

**Subtitle B, Section 929H -- SIPC Reforms (The Prevent Another Bernard Madoff Act, Part II).

**Subtitle B, Section 929L et seq. -- enhanced application of antifraud provisions in securities acts.

Subtitle B, Section 929X -- short sale reforms

Subtitle C, Section 931 et seq. -- Improvements to the Regulation of Credit Rating Agencies

**Subtitle D, Section 941 et seq. -- Improvements to the Asset-Backed Securitization Process; amends both the Securities Act of 1933 and the Exchange Act of 1934 to add requirements for the issuance of asset-backed securities, particularly mortgage-backed securities.

**Subtitle E, Section 951 et seq. -- Accountability and Executive Compensation; requires nonbinding "say on pay" shareholder vote and other reforms.

Subtitle F, Section 961 et seq. -- Improvements to the Management of the SEC

Subtitle G, Section 971 -- proxy access

Title X -- Burea of Consumer Financial Protection

Subtitle A, Section 1011 et seq. -- establishes the Bureau of Consumer Financial Protection to prohibit unfair, deceptive, or abusive acts or practices.

Title XI -- Federal Reserve System Provisions

Section 1101, et seq. -- granting addition powers in emergencies.

Title XIV -- Mortgage Reform and Anti-Predatory Lending Act