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Overlooked Sections of the Financial Overhaul Law


The financial overhaul law has hidden gems or new regulatory headaches, depending on your vantage point. Here are some overlooked sections

CONFLICT MINERALS

Computer, cell-phone, and other device makers must disclose what they are doing to avoid using tin, tungsten, gold, and other "conflict minerals" from the Democratic Republic of Congo.

DEPOSIT INSURANCE

The temporary increase during the financial crisis in the maximum amount protected by the Federal Deposit Insurance Corp.—to $250,000 from $100,000 per account—is now permanent.

FREE CREDIT SCORES

While consumers already can obtain a free copy of their credit report, that doesn't include the actual credit score. Lenders who deny loans must give customers a copy of their credit-score report.

PUBLISH WHAT YOU PAY

Oil and mining companies must disclose all legal payments—taxes, royalties, fees—to any government.

AIDING & ABETTING

The SEC gets a powerful new tool allowing it to charge lawyers, accountants, and other professionals who knew about a deceptive act, even if they weren't the wrongdoer.

FEDERAL INSURANCE OFFICE

Treasury will set up an office to monitor and modernize state regulation of insurance. The office will help identify systemically risky insurers.

MINE SAFETY

Mine operators must disclose to the SEC violations of health or safety standards and name any mine that has had a pattern of violations.

SHORT SALES

Institutions must disclose amount of short selling in each stock. Brokers must notify investors they can stop their shares from being borrowed for a short sale.


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