Financial Regulatory Forum

Offshore investment funds included in U.S. Congress registration bill

U.S. Rep. Paul Kanjorski (D-PA), chairman of the House Financial Services Subcommittee on Capital Markets, briefs reporters on the challenges and opportunities of reforming the U.S. financial markets, at the Reuters Financial Regulation Summit  in Washington, April 27, 2009.   REUTERS/Mike Theiler   (UNITED STATES POLITICS BUSINESS) By Kevin Drawbaugh and Rachelle Younglai
WASHINGTON, Oct 27 (Reuters) – Offshore funds would have to register with U.S. regulators under an amendment added to a bill mandating more oversight of private capital pools under debate on Tuesday in a U.S. congressional committee.

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Goldman Sachs tells U.S. SEC “dark pools” help investors

Oct 27 (Reuters) – Anonymous trading venues known as “dark pools” are a technological evolution that have benefitted both institutional and retail trading by bringing down transaction costs, Goldman Sachs Group Inc said in a memo to the U.S. Securities and Exchange Commission.

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US SEC seeks to curb “naked access,” expose fast trades

U.S. Securities and Exchange Commission Chairman Mary Schapiro testifies before the Senate Banking Committee on Capitol Hill in Washington, June 22, 2009.  (File Photo)  REUTERS/Jim Young    (UNITED STATES POLITICS BUSINESS)  By Elinor Comlay
NEW YORK, Oct 27 (Reuters) – The top U.S. securities regulator said she was looking for ways to crack down on “naked access,” the practice of brokers giving high-frequency traders unfettered access to public markets.

Securities and Exchange Commission Chairman Mary Schapiro said on Tuesday that she had concerns with sponsored naked access, where brokerages that have been approved to trade on an exchange rent their access to clients who are able to shave milliseconds from the time it takes to access the markets.

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U.S. SEC proposes rules to illuminate “dark pools”

By Rachelle Younglai
WASHINGTON, Oct 21 (Reuters) – U.S. securities regulators proposed rules to shed light on anonymous trading venues known as “dark pools,” which have triggered concerns that only a privileged few are benefiting.

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EXCLUSIVE-CFTC has looked into high-frequency trading, wants fair access

By Jonathan Spicer
CHICAGO, Oct 21 (Reuters) – The Commodity Futures Trading Commission has looked into the growth of high-frequency trading in U.S. futures markets, Chairman Gary Gensler said in an interview on Wednesday.

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U.S. Senator Schumer jumps into dark pool debate before SEC meeting

U.S. Senator Charles Schumer speaks in New York, July 12, 2009. (file Photo) REUTERS/Chip East By Jonathan Spicer
NEW YORK, Oct 20 (Reuters) – U.S. Senator Charles Schumer on Tuesday jumped in to the debate over anonymous trading venues known as dark pools, calling for tough new regulations a day before the U.S. Securities and Exchange Commission meets to consider new rules.  Schumer, among the most vocal of lawmakers pressing for market structure reform, urged in a letter to SEC Chairman Mary Schapiro that the regulator adopt some of the most robust measures now on the table, and called for a new market-wide monitor.

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

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.

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Liquidnet sees exemptions for large block share trades despite SEC “dark pool” review

By Jonathan Spicer
SCOTTSDALE, Arizona, Oct 16 (Reuters) – The head of Liquidnet, a top alternative U.S. venue for trading large “blocks” of stock, said on Friday he expects special exemptions for block trading if regulators adopt new rules for the scores of anonymous venues known as dark pools.

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INTERVIEW-Delaware judge sees “symbiotic” relations with U.S. government on corporate law

By Tom Hals
WILMINGTON, Del., Oct 16 (Reuters) – Delaware will preserve its “symbiotic” relationship with the federal government on corporate law, even as Washington takes an activist role on American business, said the newest member of the state’s corporate law court.

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US SEC, CFTC push for tougher enforcement laws

Mary Schapiro, chairman of the Securities and Exchange Commission,  July 22, 2009. (file photo) By Charles Abbott and Rachelle Younglai
WASHINGTON, Oct 16 (Reuters) – U.S. securities and futures regulators asked Congress on Friday for more authority to police their markets, including legislation to help rein in insider trading in the commodity futures markets.

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