WASHINGTON, July 21 (Reuters) – A U.S. appeals court ordered the Securities and Exchange Commission to reconsider a rule it adopted in the final weeks of former President George W. Bush’s administration to expand scrutiny over annuities linked to equity indexes. (more…)
Financial Regulatory Forum
WASHINGTON, July 21 (Reuters) – The U.S. Treasury Department sent a draft bill to Congress that would prevent credit rating agencies from consulting for the companies they evaluate, and said it hoped new disclosure and conflict-of-interest rules will curb the agencies’ power. (more…)
By Kevin Drawbaugh
WASHINGTON, July 17 (Reuters) – A lobbying group for the U.S. securities industry said on Friday it supports an Obama administration proposal to hold brokers to a higher fiduciary standard — matching that of investment advisers — when they give personalized advice to clients. (more…)
By Kevin Drawbaugh
WASHINGTON, July 16 (Reuters) – The two main regulators of U.S. financial markets should merge, the chief executive of America’s largest options exchange says in remarks to be delivered to a congressional panel on Friday.
By Lisa Lambert and Rachelle Younglai
WASHINGTON, July 15 (Reuters) – Municipal bond issuers must disclose more information about events such as bankruptcies on a timely basis so that investors who buy debt from states and counties will be able to better monitor their investments, securities regulators proposed on Wednesday. (more…)
WASHINGTON, July 13 (Reuters) – Credit rating agencies, such as Standard & Poor’s and Moody’s, are now being targeted by a squad of examiners set up by the Securities and Exchange Commission and are subject to ‘special’ examinations.
The heightened supervision was ordered by SEC Chairman Mary Schapiro, who has also directed staff to consider bringing in new regulations, particularly to prevent companies from shopping around for favorable ratings. (more…)
By David Lawder
WASHINGTON, July 10 (Reuters) – The Obama administration wants to give the U.S. Securities and Exchange Commission broad powers to identify and ban compensation practices at investment brokers and advisers that interfere with their fiduciary duties to clients.
WASHINGTON, July 10 (Reuters) – The Obama administration on Friday proposed legislation to strengthen the Securities and Exchange Commission’s investor protection authority, including the power to ban certain forms of compensation for brokers and investment advisers. (more…)