May 17, 2010

New York Fed Releases Report of Task Force on Repo Reform

The Federal Reserve Bank of New York ("New York Fed") tasked the Payments Risk Committee (PRC), a private-sector group of senior U.S. bank officials sponsored by the New York Fed, with forming a group of industry stakeholders to address tri-party repo market infrastructure weaknesses exposed during the financial crisis of 2008 and 2009.

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May 17, 2010

Advisory Committee Holds Meeting

The SEC’s Investor Advisory Committee held a public meeting in Washington, D.C., in order to advise the SEC as to its regulatory priorities.

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May 13, 2010

SEC Issues an Alert About an Entity Calling Itself “U.S. Securities and Equities Administration”

The SEC warned investors about an entity that holds itself out as the "U.S. Securities and Equities Administration," the "U.S. Securities Administration," the "U.S. Securities Bureau” and other similar names.

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May 12, 2010

Insider Trading Charges Brought Against Two Californians

The SEC brought insider trading charges against individuals who passed and traded on inside information about Google, Inc.

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May 12, 2010

SEC Charges Argentine Adviser with Being an Unregistered Adviser in the U.S.

The SEC brought an administrative action against an unregistered overseas investment adviser who opened online accounts at an online securities and commodities broker with offices in the U.S.

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May 11, 2010

Mutual Fund Portfolio Manager Illegally Tips Family Members About Large-Scale Money Market Fund Redemption Requests

The SEC brought an administrative action against a former portfolio manager who violated provisions of the Securities Act of 1933 and the Securities Exchange Act of 1934 prohibiting fraudulent conduct in the offer and sale of securities and in connection with the purchase or sale of securities.

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May 11, 2010

SEC and CFTC Create Joint CFTC-SEC Advisory Committee on Emerging Regulatory Issues

The SEC and CFTC formed a new committee called the “Joint CFTC-SEC Advisory Committee on Emerging Regulatory Issues” that will address emerging regulatory issues.  Specifically, the joint committee will develop recommendations on emerging and ongoing issues relating to both agencies.

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May 11, 2010

IM Director Donohue Speaks at CPA Conference

SEC Division of Investment Management Director Buddy Donohue spoke about recent amendments to Rule 2a-7 and the custody rule and explored the need to address investment companies' use of derivatives in light of rapid changes in the derivatives market.

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May 5, 2010

SEC Backs Fund Shareholder Proposal

The SEC rejected the Swiss Helvetia Fund’s attempt to omit a shareholder proposal from its 2010 proxy materials. At issue was whether the fund could reject shareholder Walter Baer’s proposal on the grounds that the fund had already “substantially implemented” the proposal by considering it and rejecting it at a closed meeting.

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May 5, 2010

SEC to Hold XBRL Seminar

The SEC will hold a public seminar on XBRL, XBRL is designed to provide investors with quicker access to the data they want in a format that is easily used, searched, and analyzed.

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