Financial Regulatory Forum

Westlaw Business Analysis: SEC Cracks Down on Holdback of Material Schedules

December 23, 2009

WLB-logoWestlaw  business applies a legal lens to the SEC’s latest moves (more…)

US SEC cracks down on how companies are governed

December 16, 2009

Rachelle Younglai

WASHINGTON, Dec 16 (Reuters) – U.S. companies will have to disclose their compensation practices and board members’ qualifications under rules adopted by the Securities and Exchange Commission on Wednesday.

U.S. serves tax probe subpoenas in NY area

By Reuters Staff
October 29, 2009

By Kim Dixon
WASHINGTON, Oct 28 (Reuters) – The U.S. government has served subpoenas on wealthy individuals in recent days in the New York area, targeting those who may have evaded taxes using offshore accounts at Swiss bank UBS AG, lawyers said on Wednesday.

U.S. SEC pursuing “significant” insider cases – source

By Reuters Staff
October 19, 2009

U.S. SEC pursuing “significant” insider cases-source
WASHINGTON, Oct 19 (Reuters) – U.S. securities regulators are pursuing “significant” insider trading cases involving financial professionals, a source familiar with the matter said on Monday.

SEC eyes inspection review; part of 5-yr draft plan

October 9, 2009

Booking mug shot of Bernard Madoff released to Reuters on March 17, 2009. Madoff pleaded guilty March 12, 2009, to orchestrating the biggest investment fraud in Wall Street history and was jailed to await a sentence that could keep him in prison for the rest of his life.  NO SALES   EDITORIAL USE ONLY    REUTERS/UNITED STATES MARSHALS SERVICE/FOIA/Handout   (UNITED STATES)    Oct 9 (Reuters) – The U.S. Securities and Exchange Commission has released a draft five-year strategic plan which includes an overhaul of the way it inspects investment advisors in the wake of the Bernard Madoff Ponzi scheme scandal. (more…)

SEC standardizes rules for U.S. “erroneous trades”

October 6, 2009

USA-FED/   NEW YORK, Oct 5 (Reuters) – The U.S. Securities and Exchange Commission on Monday adopted a single set of rules for “clearly erroneous” trades, eliminating a mixed bag of standards that exchanges used to monitor increasingly electronic trading. (more…)

Draft US bill frees some from derivatives clearing

October 6, 2009

REGULATION-SUMMIT/   By Kevin Drawbaugh
   WASHINGTON, Oct 5 (Reuters) – Firms ranging from airlines to agribusiness would be exempt from new rules on compulsory clearing of derivatives transactions under a bill in Congress aimed at tightening oversight of the financial system. (more…)

SEC changes U.S. municipal bond syndicate rules

October 1, 2009

msrb-logo    WASHINGTON, Sept 30 (Reuters) – The Securities and Exchange Commission has shortened the time period when U.S. municipal bond underwriting syndicates and account managers settle their accounts and when they can sell in the secondary market. (more…)

US regulators propose ban on ‘flash’ trading

September 18, 2009

BRITAIN/   By Karey Wutkowski
   WASHINGTON, Sept 17 (Reuters) – U.S. securities regulators proposed on Thursday a ban on flash orders that stock exchanges send to a select group of traders, fractions of a second before revealing them publicly. (more…)

US SEC scolds, moves to reform credit agencies

September 17, 2009

sec2    WASHINGTON, Sept 17 (Reuters) – Credit agencies will have to disclose more of their ratings history, and banks will have to share data used to rate financial products with all credit agencies, under rules adopted by U.S. regulators on Thursday. (more…)