Securities and Exchange Commission (SEC)
SEC fund reforms may cost investors
Efforts by the US Securities and Exchange Commission (SEC) and legislators to reform mutual fund practices following late trading and market-timing scandals in the US last year may ultimately impair performance and cost investors more in fees and charges.
Smothered by red tape
In response to a string of dubious structured finance transactions (remember Enron?), the ever-watchful regulators have proposed a set of guidelines which observers fear could choke the market.
SEC fund reforms may cost investors
Efforts by the US Securities and Exchange Commission (SEC) and legislators to reform mutual fund practices following late trading and market-timing scandals in the US last year may ultimately impair performance and cost investors more in fees and charges.
Smothered by red tape
In response to a string of dubious structured finance transactions (remember Enron?), the ever-watchful regulators have proposed a set of guidelines which observers fear could choke the market.
SEC fund reforms may cost investors
Efforts by the US Securities and Exchange Commission (SEC) and legislators to reform mutual fund practices following late trading and market-timing scandals in the US last year may ultimately impair performance and cost investors more in fees and charges.
EU calls for review of credit rating agencies
The European Commission has called for a review by the Committee of European Securities Regulators (CESR) of credit rating agencies, amid renewed activity on both sides of the Atlantic on the credit rating agency regulatory debate. Also, according to…
Hedge fund industry grows 34%, says survey
The hedge fund industry grew 34% in 2003, from $592 billion to $795 billion, according to a survey by Hennessee, the New York hedge fund adviser.
Dealers hit out at US structured product proposal
Financial institutions are increasingly concerned about a multilateral proposal by the primary US federal banking and securities agencies aimed at offering best-practice guidelines on their use of complex structured finance. They are fearful the…
VAR: ready to explode?
The SEC plans to force US securities firms to tighten up their value-at-risk reporting. Its decision comes as VAR at the world’s leading financial services firms soared an average 25.8% last year. Who are the biggest risk-takers, and are risk managers…
Fidelity risk chief lands at SEC
The US Securities and Exchange Commission (SEC) has hired Charles Fishkin as director of the newly formed Office of Risk Assessment (ORA). Fishkin will manage the overall risk assessment programme, co-ordinating risk assessment activities across the…
US regulators extend structured product proposal response period
The five leading US federal agencies have agreed a 30-day extension to the comment period on their proposals for sound practices covering complex structured finance activities.
US regulators scorned over "prescriptive" proposal
The financial services industry's reaction to a new proposed statement from US regulators on complex structured finance activities was "somewhere between terrified and scornful", according to one industry association executive. Another industry…
US regulators extend structured product proposal response period
The five leading US federal agencies have agreed a 30-day extension to the comment period on their proposals for sound practices covering complex structured finance activities.
Rating reform
The winds of change that have been forecast to sweep through the credit rating industry are growing stronger, fanned by a set of proposals released by an influential group of finance and treasury bodies, as Saskia Scholtes reports.
US agencies seek feedback on structured finance guidelines
Five US federal agencies have issued a statement describing internal controls and risk management procedures designed to help financial institutions identify and address risks associated with complex structured finance activities.
SEC approves alternative method of capital measurements for broker-dealers
The Securities and Exchange Commission (SEC) has approved a rule that allows certain broker dealers to use internal models to determine their capital requirements. The Commission believes the rule would improve its oversight of broker-dealers.
SIA proposes ways for mutual-fund fees disclosure
The Securities Industry Association has proposed a system of Web-based and toll-free telephone disclosure of brokerage firms' relationships with mutual-fund companies. SIA said this would provide investors with thorough, easy-to-understand disclosure of…
SIA calls for regulatory convergence between EU and US
The Securities Industry Association (SIA) has urged the Securities and Exchange Commission (SEC) and the Committee of European Securities Regulators (CESR) of the European Union (EU) to forge a framework to achieve regulatory convergence.
SEC capital rules proposals provoke heavy industry criticism
The capital adequacy rules proposed by the US Securities and Exchange Commission (SEC) have ignited a flurry of criticism from both US and European commentators.
SEC rule on broker-dealers must be equivalent to the EU Directive on Financial Conglomerates, says SIA
The Securities Industry Association (SIA) has urged the Securities and Exchange Commission (SEC) and the US Department of Treasury to ensure that the proposed rule on the Alternative Net Capital Requirements for Broker-Dealers that are part of…
Ex-Merrill Lynch energy trader pleads guilty to fraud
At 24, Daniel Gordon headed Merrill Lynch's energy trading business. He has now pleaded guilty to a $43 million fraud.
Sponsor's article > Accounting for revenue uncertainty
The past 20 years have seen an increasing focus on mark-to-market accounting when determining corporate profits. This has been accompanied by a dramatic growth in contracts where multiple complex contingencies interact to affect valuation. David Rowe…
Boston Options Exchange set for launch this Friday
The Boston Options Exchange (Box), a joint venture by the Boston Stock Exchange, Interactive Brokers Group and the Bourse de Montreal, is on course for launch this Friday (January 30) after successful completion of tests this weekend, a spokeswoman told…
SEC probes NYSE report
The Securities and Exchange Commission (SEC) has opened an investigation into matters raised in a December 2003 report to the New York Stock Exchange (NYSE's) Board of Directors, prepared by independent counsel Dan Webb.