Financial Regulatory Forum

US SEC, CFTC mull joint enforcement squad – sources

October 16, 2009

By Rachelle Younglai
WASHINGTON, Oct 15 (Reuters) – U.S. securities and futures regulators are considering a joint enforcement squad to investigate and root out fraud in the markets, two sources familiar with the matter said on Thursday. (more…)

US SEC to consider rules for dark pools next Wednesday

October 14, 2009

WASHINGTON, Oct 14 (Reuters) – U.S. securities regulators will consider next Wednesday proposals to shed more light on dark pools, or venues where stock trades are hidden from public view, a notice on the Securities and Exchange Commission’s website said.

California pension fund Calpers launches probe of placement agent fees

October 14, 2009

By Jim Christie and Svea Herbst-Bayliss
SAN FRANCISCO/BOSTON, Oct 14 (Reuters) – Calpers, the biggest U.S. public pension fund, said on Wednesday it is probing fees paid by outside money managers to win its business, expanding a review of “pay-to-play” schemes at public retirement systems that has spread across the nation.

Bank of America agrees to give U.S. more details on Merrill

October 13, 2009

People walk past a Bank of America branch in New York August 13, 2009. (File Photo) REUTERS/Lucas Jackson (UNITED STATES BUSINESS)

Elinor Comlay and Rachelle Younglai
NEW YORK/WASHINGTON, Oct 13 (Reuters) – Bank of America Corp’s decision to hand over protected information on what it knew about Merrill Lynch before it merged paves the way for the bank to settle a number of federal investigations and start anew after Chief Executive Kenneth Lewis departs.

EXCLUSIVE – Fast traders push alternative US risk oversight plan

October 9, 2009

By Jonathan Spicer and Herbert Lash
NEW YORK, Oct 9 (Reuters) – A handful of companies, including high-frequency traders, have asked the U.S. stock clearinghouse to act as a market-wide monitor, to guard against the risk of a malfunctioning computer program spreading chaos.

New U.S. derivatives bill addresses end user concerns

October 9, 2009

U.S. Rep. Collin Peterson (D-MN), chairman of the House Agriculture Committee, answers reporters' questions on his views of the relationship between the U.S. Federal Reserve and Wall Street, at the Reuters Financial Regulation Summit  in Washington, April 27, 2009.  REUTERS/Mike Theiler  (UNITED STATES POLITICS BUSINESS) By Kevin Drawbaugh and Christopher Doering
WASHINGTON, Oct 9 (Reuters) – The chairman of the U.S. House of Representatives Agriculture Committee on Friday unveiled a draft bill on regulation of over-the-counter derivatives that differs in some key respects from bills drawn up elsewhere in the House and by the Obama administration.

U.S. SEC to review accounting rules roadmap

October 9, 2009

By Huw Jones
BASEL, Switzerland, Oct 8 (Reuters) – The U.S. Securities and Exchange Commission will review by the end of the autumn its milestones for possible adoption of a global set of accounting rules, its chairman Mary Schapiro said on Thursday.

EXCLUSIVE-U.S., global differences over fair-value accounting can be reconciled – IASB chief

October 6, 2009

tweedie_thb By Emily Chasan
NEW YORK, Oct 6 (Reuters) – Proposed changes to mark-to-market accounting rules are likely to look similar on both sides of the Atlantic in the end, despite a current controversy about how far to expand the rules, the top global accounting rulemaker said.

US SEC won’t finalize proxy access for board nominations until early 2010

October 2, 2009

Mary Schapiro, chairman of the Securities and Exchange Commission (file photo) WASHINGTON, Oct 2 (Reuters) – Finalizing a controversial proposal to give U.S. investors a cheaper and easier way to nominate corporate directors is taking longer than expected and securities regulators will not vote on it until early in 2010.

SEC, CFTC to release harmonization report on Oct 15

September 30, 2009

Gary Gensler (R), chairman of the Commodity Futures Trading Commission, and Mary Schapiro, chairman of the Securities and Exchange Commission, testify before the House Financial services committee during a hearing on Capitol Hill in Washington July 22, 2009 (file photo). REUTERS/Yuri Gripas (UNITED STATES POLITICS BUSINESS) By Christopher Doering
WASHINGTON, Sept 30 (Reuters) – The two main U.S.
regulators policing the securities and futures markets said on
Wednesday they will issue on Oct. 15 a report outlining where
their regulatory frameworks differ and ways to bridge those