Finance Laws relate to any statutes, policies, regulations, or other forms of rules governing financial transactions in which one party raises money through borrowing, stock sales, bonds, or other means of investment. Examples include antitrust, bankruptcy, and securities laws that protect the financial interests of small businesses and individual investors. These laws may also have an impact on bankruptcy proceedings, particularly for corporate debtors.
Antitrust laws are those laws designed to promote vigorous competition and to protect consumers from anti-competitive market practices. These laws can have relation to finance in situations such as supposed competitors investing in one another or buying another company's stocks in an effort to take over the selling company.
Banking laws can play a part in finance law with regard to regulations on lending requirements, types of investments in which banks can engage, and reporting requirements related to these investments.
Bankruptcy plays a role in finance laws with regard to the way financed debts are protected or discharged in the bankruptcy proceedings.
Securities laws play a heavy role in finance law. If a business sells publicly traded stocks then it must comply with certain reporting and financial disclosure obligations as required by the Securities and Exchange Commission (SEC). These can include creating disclosures and otherwise complying with the requirements of Sarbanes-Oxley.
There are many other areas of law that relate to financing. To learn more, you can review the materials found on this page, as well as many of the other areas identified under the Law tab on the menu bar. Similarly, if you have questions about finance law and need an attorney, you can find one in your area by visiting our Law Firms page.
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Articles on HG.org Related to Finance Law
- SEC v. Dawn J. Bennett: From “Financial Myth Busting” To “Busted”Last fall, the SEC initiated disciplinary proceedings against financial advisor and self-proclaimed “Financial Myth Buster” Dawn Bennett, accusing her of publicly inflating her client assets under management (or “AUM”) and exaggerating her investment returns.
- Perfecting Your Security Interest – Requirements for Listing a Debtor’s Name on Florida Article 9 FilingsFlorida lenders seeking to secure a lien against the personal property of a borrower in default must follow the guidelines detailed in Article 9 of the Uniform Commercial Code (UCC) and Florida’s Article 9, which governs secured transactions and is applied to a wide range of consumer and commercial credit transactions.
- SEC Halts Ash Narayan from Defrauding RGT ClientsThe Securities and Exchange Commission (“SEC”) announced that it obtained a court ordered “freeze” of the assets of three individuals, including Ash Narayan, formerly of RGT Wealth Advisors, who, the SEC alleges, siphoned millions of dollars from the accounts he managed at RGT for professional athletes and others while he was the manager of RGT Wealth Advisor’s Orange County, California office.
- How to Safeguard the Liability Protection of Your Florida LLCA majority of new business entities in the U.S. are formed as Limited Liability Companies (LLC) to provide business owners with a shield from personal liability.
- FINRA Submits Proposed Rule Changes to Clarify Offsetting AwardsFINRA has recently filed proposed rule changes that provide much-needed clarification to how arbitration awards resulting in both sides paying money should be handled.
- SEC Whistleblower ProgramIn 2010, Congress implemented a new act that provides for monetary incentives for whistleblowers who report Securities and Exchange Commission violations. Whistleblowers are individuals with important information about the illegal acts of others.
- What to Do When Your Business Bank Deposit Goes MissingA common business practice for retail stores and other establishments is to have a manager or other agent of the business deposit all cash and check after the close of the business day. This is often completed after the bank has already closed. The agent usually drops a pouch in a deposit box for this purpose.
- Non-Traded REITs: Great for Brokers, Not for ClientsFINRA, the Financial Industry Regulatory Authority, filed a complaint against VFG Securities, Inc., a small broker-dealer that allegedly generated almost 95% of its annual revenue from selling non-publicly traded REITs and other illiquid investments to its clients.
- Transitioning Broker Alert - FINRA Adopts New Comp Disclosure RuleThe Securities and Exchange Commission approved last week a new rule proposed by FINRA, the Financial Industry Regulatory Authority, which requires brokers departing one broker dealer for another, to send “educational information” to clients about their move to another firm and the financial compensation and incentives they will receive from the new firm for making the move.
- New CFPB Rules and the Impact on Hard Money LendingHard-money lending is becoming more popular in the mortgage industry as real estate investors try to find new ways to take advantage of opportunities quickly by accessing this source of liquid capital. In addition, as interest rates rise, hard money lending becomes a way for investors to close deals faster.
- All Banking and Finance Law Articles
Articles written by attorneys and experts worldwide discussing legal aspects related to Banking and Finance including: asset protection, capital markets, corporate finance, financial planning, financial services law, investment law, offshore accounts, private equity, project finance, public finance, securities, trade investment and venture capital.
Finance Law – US
- ABA - Task Force on Financial Markets Regulatory Reform
The American Bar Association has established a Task Force on Financial Markets Regulatory Reform, which has the following mission: To study and analyze the legal and regulatory implications of the recent financial crisis, especially as they relate to the practice of law and effective representation of clients.
- Accountability and Transparency in Rating Agencies Act
Amends the Securities Exchange Act of 1934 to direct the Securities and Exchange Commission (SEC) to review credit ratings issued by each nationally recognized statistical rating organization (NRSRO) to ensure that the NRSRO has established and documented internal processes for determining credit ratings consistent with SEC rules. Requires each NRSRO to make available and maintain such records and information as the SEC may prescribe.
- Dodd-Frank Wall Street Reform and Consumer Protection Act
This is comprehensive legislation to overhaul regulations in the financial sector. It would establish a new Consumer Financial Protection Agency to regulate products like home mortgages, car loans and credit cards, give the Treasury Department new authority to place non-bank financial firms, like insurance companies into receivership, regulate the over-the-counter derivatives market, and more.
- Financial Institutions Policy
The Office of Financial Institutions Policy develops, analyzes, and coordinates the Department's policies on legislative and regulatory issues affecting financial institutions, including depository institutions, insurance companies, government sponsored enterprises, securities firms, finance companies, mutual funds, and all other regulated and unregulated financial intermediaries. The Office's principal focus is on issues dealing with safety and soundness, market structure, condition, and competitiveness, and regulatory structure.
- Financial Stability Plan
In late 2008 and early 2009, our nation faced one of the worst financial and economic crises in its history. A growing financial panic threatened the health of our entire economy. Businesses were shedding hundreds of thousands of jobs per month. Ordinary Americans were questioning the safety of their savings in banks. Access to credit for families and businesses was drying up. Confidence in the basic soundness of our financial system had been severely shaken.
- United States Department of the Treasury
The Department of the Treasury's mission highlights its role as the steward of U.S. economic and financial systems, and as an influential participant in the global economy.
Organizations Related to Finance Law
- Board of Governors of the Federal Reserve System
The Federal Reserve System's structure is composed of the presidentially appointed Board of Governors (or Federal Reserve Board), the Federal Open Market Committee (FOMC), twelve regional Federal Reserve Banks located in major cities throughout the nation, numerous other private U.S. member banks and various advisory councils.
- Community Development Financial Institutions Fund
The vision of the Community Development Financial Institutions Fund (the CDFI Fund) is an America in which all people have access to affordable credit, capital and financial services. The CDFI Fund's mission is to expand the capacity of financial institutions to provide credit, capital, and financial services to underserved populations and communities in the United States.
- Federal Financial Institutions Examination Council (FFIEC)
The Federal Financial Institutions Examination Council (FFIEC) was established on March 10, 1979, pursuant to title X of the Financial Institutions Regulatory and Interest Rate Control Act of 1978 (FIRA), Public Law 95-630. In 1989, title XI of the Financial Institutions Reform, Recovery and Enforcement Act of 1989 (FIRREA) established The Appraisal Subcommittee (ASC) within the Examination Council.
- Financial Management Service
The Financial Management Service is a bureau of the United States Department of the Treasury. Our mission is to provide central payment services to Federal Program Agencies, to operate the federal government's collections and deposit systems, to provide government-wide accounting and reporting services and to manage the collection of delinquent debt owed to the government.
FinCEN’s mission is to enhance U.S. national security, deter and detect criminal activity, and safeguard financial systems from abuse by promoting transparency in the U.S. and international financial systems.
- Money Matters
The Federal Trade Commission (FTC), the nation’s consumer protection agency, created this website to help you tackle some money issues head-on. Use the menu to the right to find tips and resources on money matters.
MyMoney.gov is the U.S. government's website dedicated to teaching all Americans the basics about financial education. Whether you are buying a home, balancing your checkbook, or investing in your 401(k), the resources on MyMoney.gov can help you maximize your financial decisions. Throughout the site, you will find important information from 20 Federal agencies and Bureaus designed to help you make smart financial choices.
- Office of the Comptroller of the Currency
The OCC's primary mission is to charter, regulate, and supervise all national banks. We supervise the federal branches and agencies of foreign banks. Our goal in supervising banks is to ensure that they operate in a safe and sound manner and in compliance with laws requiring fair treatment of their customers and fair access to credit and financial products.
Publications Related to Finance Law
- Business Finance Magazine
Business Finance is the hands-on, how-to authority serving the needs of the senior finance professional. Each issue of Business Finance supplies senior finance executives information and insight into key finance issues, strategies, trends and technologies to help them advance their organizations in today’s highly competitive global economy.
- Forbes - Personal Finance
Forbes.com Inc. a leading Internet media company, is among the most trusted resources for the world's business and investment leaders, providing them the uncompromising commentary, concise analysis, relevant tools and real-time reporting they need to succeed at work, profit from investing and have fun with the rewards of winning.
- Money Smart - A Financial Education Program
The Federal Deposit Insurance Corporation (FDIC) recognizes the importance of financial education, particularly for those with little or no banking experience. In 2001, the FDIC started a national financial education curriculum by launching Money Smart, a comprehensive financial education curriculum designed to help individuals outside the financial mainstream enhance their financial skills and create positive banking relationships.
- Office of Financial Education and Financial Access
As America recovers from the most severe financial crisis since the Great Depression, it’s critical that we strengthen every aspect of our financial system. That means not only strong reforms and consumer protections, but also improved financial literacy and financial access. The Obama Administration is committed to expanding the financial tools and education available to every American to help ensure that families are more secure for their financial futures.