Securities and Exchange Commission (SEC)
New SEC committee set up to examine financial reporting systems
Daily news headlines
SEC issues new compliance alerts
Daily news headlines
SEC issues new guidelines on 404
SEC clarifies on 404
NYSE struggles to implement Reg NMS on time
The New York Stock Exchange (NYSE) has failed to fully comply with the trading phase of Regulation National Market System (Reg NMS), which came into force yesterday.
A Ratings Quandary
The US Securities and Exchange Commission is set to hammer out several key provisions of the US Credit Rating Agency Reform Act, intended to increase transparency in the ratings industry. But some analysts are concerned the legislation could go too far.
US regulators outline rules on structured finance
Five US regulatory organisations have issued a statement of principles on dealing with the risks involved in complex structured financial products.
Is US BCP courting disaster?
The US authorities have fallen silent over business continuity management (BCM) of late, raising fears that the issue will slip down the American business agenda in 2007. Peter Madigan investigates
Is SOX reform about to take off?
Peter Madigan investigates proposals for long-awaited changes to the Sarbanes-Oxley Act
SEC risk chief resigns
Charles Fishkin, head of the US Securities and Exchange Commission's Office of Risk Assessment, has resigned to join an asset-management firm.
International oversight needed for derivatives, say regulators
The complexity of the derivatives market means international regulation is the only way forward, according to the heads of three major regulatory agencies.
SEC proposes relaxation of Sarbox for foreign firms
The Securities and Exchange Commission (SEC) of the US has proposed a relaxation of the Sarbanes-Oxley rules, allowing foreign companies listing on US exchanges an extra year to comply with the regulations.
SEC decides not to appeal hedge fund setback
Christopher Cox, the chairman of the US Securities and Exchange Commission, will not appeal against a court decision limiting the regulator's ability to supervise hedge funds.
American General restates derivatives by $41.5 million
American General Finance, the Indiana-based consumer loans specialist, has become the latest US company to restate its results because of mistakes in applying accounting rules. The company announced it would adjust income upwards by $41.5 million for the…
SEC approves NYSE merger
The US Securities and Exchange Commission (SEC) has cleared the New York Stock Exchange (NYSE) merger with Archipelago next month, opening the way for its transformation into a for-profit company.
BoA mis-states derivatives positions by $345 million
Bank of America has contravened Financial Accounting Standards Board (FASB) rules regarding its treatment of derivatives instruments and will recalculate all of its financial statements since 2002.
Asset managers warn of growing oversight burden
Compliance with new Securities and Exchange Commission (SEC) rules to be brought in next year under the Investment Advisers Act has doubled the cost of oversight at some US asset managers, a survey has found.
SEC puts GE's derivatives use under formal scrutiny
The Securities and Exchange Commission (SEC) has started a formal investigation into General Electric's use of derivatives.
A Shakespeare moment
There I was, sitting in a stuffy conference room in Brussels, watching what I like to call a ‘Shakespeare moment’ – when people interact in a way that captures a part of the essence of human behaviour.
Bayou fraud puts focus on due diligence
The filing of a civil complaint against Stamford, Connecticut-based hedge fund Bayou Management last month has reignited calls for increased regulation in the hedge fund sector.
SEC’s Atkins slams hedge fund rule again
Paul Atkins, a commissioner at the US Securities and Exchange Commission (SEC), has renewed his criticism of the regulator’s hedge fund registration rule – due to go into effect in February 2006.
Is Basel II a hurdle too far for US broker-dealers?
Broker-dealers in the US are having to cope with the SEC's capital requirements, while still being somewhat in the dark about the upcoming Basel II framework. By Choongo Moonga
Hedge fund panel advocates CRO function
The revelation of sizeable hedge fund losses in the structured credit market in May have prompted renewed calls from investors and regulators in the US and Europe for greater disclosure in the hedge fund sector.
SEC: What's Next?
William Donaldson's quick retirement from the chairmanship of the US Securities and Exchange Commission (SEC) last month brings to mind the pithy Italian proverb from the recent Papal Conclave: "After a fat Pope, a skinny pope."
Spitzer probe threatens MBIA bond guarantees
Regulatory scrutiny of accounting practices at MBIA has put pressure on the monoline insurer’s triple-A rating, undermining its guarantees. Hardeep Dhillon reports