Tales from the Trail

from Summit Notebook:

So how plugged in is the SEC chair? (technologically speaking)

Securities and Exchange Commission Chairman Mary Schapiro says her agency has its work cut out to compete with the massive amounts of money that private firms, policed by the SEC, pour into the latest technology.

"Can we keep up with Wall Street? I think we have a fighting chance. We'll never have, under any circumstances, the kind of budgets that would allow us to spend a billion dollars a year on technology as some firms do, I mean that's just not going to happen, and I totally understand that," she said at the Reuters Future Face of Finance Summit. FINANCE-SUMMIT/SCHAPIRO

"If we can build a forensics lab for our enforcement people to be able to download data off of iPhones and iPads and other instruments, then we will be a lot better able to pursue insider trading potentially and other securities law violations," she said.

So how technologically plugged in is the SEC chair personally?

"I have an iPad," Schapiro said.

"No I don't do Twitter, I don't have a Facebook page. You know, in my position it would be complicated," she said with a laugh. "So maybe I'm kind of middling in terms of technology."

Her agency has a Twitter feed and a Facebook page in development.

To see how important technology is to the SEC, just look at the amount of data it must sift through in dealing with cases.

from Summit Notebook:

Against high Hill drama, SEC chief mum on Goldman

First of all, Securities and Exchange Commission Chairman Mary Schapiro would not talk about Goldman Sachs.

There was no drawing her out. The head of the agency that filed a civil fraud lawsuit charging that Goldman misled investors would not say a word about the case. GOLDMAN/

Quite the opposite from the high-drama being played out at the same time on Capitol Hill where Goldman Sachs executives were facing the fusillade at a Senate hearing, where one senator kept repeating "shi--y deal." (There are two t's missing from that word).

from Summit Notebook:

Reuters set to spotlight financial regulation in DC

FINANCIAL-REGULATION/OBAMA
The fight over new rules that will dramatically change Wall Street and financial markets is approaching the finish line in Washington, with both lawmakers and the financial industry making last-ditch efforts to put their stamp on the reform effort. Reuters will be hearing from the key players in the debate on April 26-29 during the 2010 Reuters Global Financial Regulation Summit.

Top regulators, watchdogs, lawmakers and stakeholders will provide their perspectives on how this landmark legislation will impact banks, investors, traders and consumers. The talks will focus in on proposals for a strong new consumer agency, strict oversight of derivatives and attempts to end the perception that some financial firms are “too big to fail.”