Dodd-Frank Office of Minority and Women Inclusion (Section 342): Update and Review of Guiding Principles
Dodd-Frank Office of Minority and Women Inclusion (Section 342): Update and Review of Guiding Principles. Webinar. Thursday, April 12, 2012 from 2:00 PM to 4:00 PM (ET).
To regisiter: http://342update.eventbrite.com
Section 342 of the Dodd-Frank Wall Street Reform and Consumer Protection Act contains a “provision creating an Office of Minority and Women Inclusion at various agencies to monitor the diversity efforts of the agencies, the regulated entities and agency contractors.” We estimate new contract opportunities for woman and minority firms will total $205 million per year.
The Section requires the Department of the Treasury, the Federal Deposit Insurance Corporation, the Federal Housing Finance Agency, each of the Federal Reserve Banks, the Board of Governors of the Federal Reserve System, the National Credit Union Administration, the Office of the Comptroller of the Currency, the Securities and Exchange Commission and Bureau of Consumer Financial Protection to create “an Office of Minority and Women Inclusion (‘OMWI’) to be responsible for all agency matters relating to diversity in management, employment and business activities.”
The Directors of the Offices of Minority and Women Inclusion (OMWI) hosted an industry roundtable on January 26th with financial service trade associations. The roundtable was the first step in a collaborative effort to obtain guidance from and provide direction and information to industry participants regarding the implementation of Section 342 of Dodd-Frank.
OMWI Directors will hold meetings with market participants in February, March and April. They will use several fundamental principles to develop uniform OMWI standards. This Webinar will review the First Draft Fundamental Guiding Principles.
As one analyst noted, “In addition to developing standards for and monitoring the employment diversity of the respective agency, the OMWI will have authority over the entities regulated by the agency and contractors providing services to the agencies.” Service providers covered by the Section include “financial institutions, investment banking firms, mortgage banking firms, asset management firms, brokers, dealers, financial services entities, underwriters, accountants, investment consultants, and providers of legal services.”
Continuing Education Credit:
CLE - once attendance is verified, participants are emailed an official certificate of attendance which they submit to their respective State Bar Associations.
CPE - will apply for cerification as continuing professional education.
Office of Professional Responsibility, Internal Revenue Service: we will seek to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering maintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. Our efforts and this notice does not constitute an endorsement by the Office of Professional Responsibility as to the quality of the program or its contribution to the professional competence of the enrolled individual.
To regisiter: http://342update.eventbrite.com
Section 342 of the Dodd-Frank Wall Street Reform and Consumer Protection Act contains a “provision creating an Office of Minority and Women Inclusion at various agencies to monitor the diversity efforts of the agencies, the regulated entities and agency contractors.” We estimate new contract opportunities for woman and minority firms will total $205 million per year.
The Section requires the Department of the Treasury, the Federal Deposit Insurance Corporation, the Federal Housing Finance Agency, each of the Federal Reserve Banks, the Board of Governors of the Federal Reserve System, the National Credit Union Administration, the Office of the Comptroller of the Currency, the Securities and Exchange Commission and Bureau of Consumer Financial Protection to create “an Office of Minority and Women Inclusion (‘OMWI’) to be responsible for all agency matters relating to diversity in management, employment and business activities.”
The Directors of the Offices of Minority and Women Inclusion (OMWI) hosted an industry roundtable on January 26th with financial service trade associations. The roundtable was the first step in a collaborative effort to obtain guidance from and provide direction and information to industry participants regarding the implementation of Section 342 of Dodd-Frank.
OMWI Directors will hold meetings with market participants in February, March and April. They will use several fundamental principles to develop uniform OMWI standards. This Webinar will review the First Draft Fundamental Guiding Principles.
As one analyst noted, “In addition to developing standards for and monitoring the employment diversity of the respective agency, the OMWI will have authority over the entities regulated by the agency and contractors providing services to the agencies.” Service providers covered by the Section include “financial institutions, investment banking firms, mortgage banking firms, asset management firms, brokers, dealers, financial services entities, underwriters, accountants, investment consultants, and providers of legal services.”
Continuing Education Credit:
CLE - once attendance is verified, participants are emailed an official certificate of attendance which they submit to their respective State Bar Associations.
CPE - will apply for cerification as continuing professional education.
Office of Professional Responsibility, Internal Revenue Service: we will seek to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering maintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. Our efforts and this notice does not constitute an endorsement by the Office of Professional Responsibility as to the quality of the program or its contribution to the professional competence of the enrolled individual.