Financial Regulatory Forum

U.S. SEC adopts permanent ban on “naked” short selling

WASHINGTON, July 27 (Reuters) – U.S. securities regulators made permanent a rule designed to clamp down on an abusive type of market activity known as naked short selling, the Securities and Exchange Commission said on Monday.


U.S. SEC approves two firms to clear credit-default swaps

WASHINGTON, July 23 (Reuters) – ICE Clear Europe and Eurex Clearing AG have been given permission to clear credit default swaps, a type of derivative that exacerbated the global financial crisis, the Securities and Exchange Commission said on Thursday. (more…)

Democrats vow fight with banks over U.S. consumer protections

U.S. Representative Barney Frank (R) By Kevin Drawbaugh
WASHINGTON, July 22 (Reuters) – Congressional Democrats pledged on Wednesday to engage the banking industry in a summer-long debate over the Obama administration’s call for the creation of a U.S. Consumer Financial Protection Agency. (more…)

U.S. agencies unveil crackdown on OTC derivatives

By Kevin Drawbaugh and Christopher Doering h
WASHINGTON, July 22 (Reuters) – Over-the-counter derivatives markets, a “dark corner” of the U.S. financial system, would face much greater public and government scrutiny under proposals detailed by regulators on Wednesday.


U.S. court orders SEC to reconsider annuity rule

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…)

U.S. Treasury sends credit-rating regulation bill to Congress

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…)

Obama broker proposal gets Wall Street backing

Wall Street TradersBy 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…)

Major U.S. exchange chief urges SEC-CFTC merger

seccftc    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.

SEC proposes stricter muncipal bond disclosure

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…)

SEC to require more US muni disclosure -chairman

USA/    WASHINGTON, July 14 (Reuters) – The Securities and Exchange Commission will consider ways to increase disclosure of information about U.S. municipal bonds at a meeting on Wednesday, its chairman told Congress on Tuesday.