Regulatory
SEC Agrees To Propose Rule With 30-Day Comment Period That Would Allow Issuers Of Private Investors To Advertise To The Public
The SEC voted Wednesday to fulfill one of the mandates of the JOBS Act (Jumpstart Our Business Startups) by allowing hedge funds and other issuers of private securities to advertise those offerings to the public.
No Criminal Case Likely In $1 Billion Loss At MF Global; Is America Any Better At Policing Corporate Corruption Than China?
According to a report in today’s New York Times, a criminal investigation into the collapse of the brokerage firm MF Global and disappearance of about $1 billion in customer money is in its final stages and no criminal charges are expected against any top executives, including New Jersey’s former Governor who ran the firm.
“Investigators are concluding that chaos and porous risk controls at the firm, rather than fraud, allowed the money to disappear,” says The Times.
Do you buy that? Can $1 billion get misplaced accidentally without criminal int
SEC's Schapiro Steps Up Efforts To Ensure Integrity And Capacity Of Computer Program Traders
SEC chair Mary Schapiro came down staunchly against Knight Capital LLC after its computer trading debacle on Wednesday, August 1, forcing the firm to find help elsewhere as it faced debilitating losses. The computer trading error has prompted the SEC to step up mandates that exchanges and other trade centers ensure the integrity and capacity of their systems.
Government Accountability Office (GOA) Says FINRA Should Review 10 Of Its Rules
There are 10 rules the Government Accountability Office (GAO) says that FINRA should review. One of those includes instituting a system designed to review rules on a regular basis. Since there is no such system in place, there is no capability for measuring on a systematic basis if the rules FINRA institutes are being effective.
Bachus Backtracks After Democrats Introduce Bill Saying SEC Should Regulate RIAs; A Surprising Turn Of Events But Debate Will Likely Drag Into 2013
On a day when major news broke about the regulation of Registered Investment Advisers, Investment News’s Mark Schoeff Jr. yesterday did the best job of reporting on new developments in one of the biggest stories currently affecting private wealth advisors. Schoeff got a statement from Spencer Bachus, Republican chairman of the House Financial Services Committee, and Bachus made some surprising comments.
More Articles ...
- With So Little Action On Dodd-Frank Over The Past Two Years, Many Are Dubbing It Dud-Frank
- Dodd-Frank Mandates Registering Municipal Advisors But Congressional Committee Says SEC's Proposed Rule Is Over The Top
- Letters From Failed Suicide Attempt Of PFGBest CEO Reveal Lack Of Regulatory Oversight As Well As How Embezzled Funds Were Used
- New Privacy Laws Being Passed By A String Of States May Conflict With FINRA Social Media Rules
