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.
Financial Regulatory Forum
By Kevin Drawbaugh
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…)
WASHINGTON, July 8 (Reuters) – The U.S. Securities and Exchange Commission’s top inspector and examiner, Lori Richards, plans to leave the agency Aug. 7, the SEC said on Wednesday. Richards, director of the compliance inspections and examinations unit since it was created in 1995, leaves after a year in which her division and the SEC enforcement unit were accused of failing to spot Bernard Madoff’s $65 billion investment fraud. (more…)
WASHINGTON, July 2 (Reuters) – The Obama administration is aiming to release detailed legislative language for its proposals on corporate governance, shareholder rights, and derivatives regulation next week, sources familiar with the plans said Thursday.
By Rachelle Younglai
WASHINGTON, July 1 (Reuters) – U.S. securities regulators moved to change how companies elect board members and govern themselves, tilting the corporate playing field toward investors who have complained of weak boards and lavish pay for top executives.