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REGULATORY/LEGAL

U.S. derivatives regulator faces test in big courtroom showdowns
By Reuters
07/28/2014 1:02:28 PM ET

WASHINGTON (Reuters)—The U.S. federal agency regulating derivatives has fought just three trials since 2011, all against small-time fraudsters in Florida.
U.S. SEC to review accredited investor rule
By Reuters
07/25/2014 3:56:39 PM ET

WASHINGTON (Reuters)—A U.S. Securities and Exchange Commission review of its "accredited investor" rule could ultimately make it tougher for brokers to sell privately traded securities, a high-risk, high-reward, high-commission staple at some small and independent firms.
U.S. SEC targets 10 firms in high frequency trading probe: SEC document
By Reuters
07/17/2014 6:38:27 PM ET

NEW YORK (Reuters)—The U.S. Securities and Exchange Commission has been seeking information on 10 registered broker dealers as part of an ongoing investigation into high-frequency trading strategies, according to an internal SEC document reviewed by Reuters.
U.S. House passes spending bill with Dodd-Frank changes
By Reuters
07/17/2014 4:08:31 PM ET

WASHINGTON (Reuters)—The Republican-led U.S. House of Representatives on Wednesday [July 16] passed a bill to slash funding for Wall Street oversight and revamp new agencies dedicated to cracking down on fraud against consumers and policing risks after the financial crisis.
U.S. SEC official vows to defend agency from Fed encroachment
By Reuters
07/15/2014 5:28:38 PM ET

WASHINGTON (Reuters)—A member of the U.S. Securities and Exchange Commission is vowing to defend the regulator's turf against what he said is growing encroachment by the Federal Reserve and a council of financial regulators on everything from asset manager regulation to high-speed trading.
Global financial watchdog calls for FX fix reforms, urges banks to clean up
By Reuters
07/15/2014 12:44:18 PM ET

LONDON (Reuters)—The world's top financial regulator on Tuesday [July 15] urged deep-rooted change to how currency benchmarks are set, encouraging market players to tighten up their governance, practices and controls rather than imposing stringent new regulation. The proposals come in response to allegations being investigated by regulators that dealers at major banks colluded and manipulated key reference rates in the $5.
Why U.S. election season donations can trip up advisers
By Reuters
07/10/2014 12:00:23 PM ET

NEW YORK (Reuters)—The U.S. election season is under way, which means opportunities are mounting for public retirement plan advisers to do the wrong thing.
Wall Street watchdog launches exams into order routing practices
By Reuters
07/09/2014 12:47:28 PM ET

NEW YORK (Reuters)—Wall Street's self-regulator said on Tuesday [July 8] it is conducting examinations of 10 firms to ensure they are in compliance with regulations requiring that investors receive the best execution for their stock orders. The Financial Industry Regulatory Authority did not disclose which 10 firms were sent letters demanding records and other documents on their execution and order-routing practices.
U.S. SEC review of alternative mutual funds is imminent
By Reuters
07/09/2014 11:05:00 AM ET

WASHINGTON (Reuters)—A surge of investment in alternative mutual funds has caught the attention of the U.S. Securities and Exchange Commission, which will launch examinations of fund companies targeting funds' leverage, liquidity and other concerns, according to an official.
U.S. SEC issues guidance for proxy firms, investment advisers
By Reuters
07/01/2014 2:33:40 PM ET

WASHINGTON (Reuters)—Asset managers who use proxy advisory firms to help them make corporate voting decisions on behalf of investors should be routinely reviewing their policies to ensure they are acting in their clients' best interest, U.S.
U.S. SEC beefs up administrative court to meet rising demand
By Reuters
06/30/2014 3:57:00 PM ET

WASHINGTON (Reuters)—The U.S. Securities and Exchange Commission is hiring two new administrative law judges and three law clerks as its lawyers turn increasingly to the agency's administrative court as a preferred venue over federal court for filing enforcement actions.
EU throws down gauntlet to U.S. over derivatives
By Reuters
06/27/2014 3:21:42 PM ET

LONDON (Reuters)—The European Union said it will help build a seamless global market in financial derivatives by accepting rules used in five countries, adding the United States would get the green light too if it showed flexibility. After the 2007-09 financial crisis in which derivatives like credit default swaps played a key part in creating uncertainty, countries across the world have introduced rules to make the market more transparent and safer.
U.S. SEC adopts portion of cross-border derivatives rules
By Reuters
06/25/2014 2:34:51 PM ET

WASHINGTON (Reuters)—U.S. securities regulators adopted part of a long-awaited rule on Wednesday [June 25] that spells out when foreign banking operations that deal in derivatives will be required to comply with new U.
U.S. Senate, House unveil dueling budget plans for SEC, CFTC
By Reuters
06/24/2014 3:22:07 PM ET

WASHINGTON (Reuters) - The U.S. Senate and House of Representatives have released dueling fiscal 2015 budget proposals for the country's top two financial market regulators, with Democrats seeking more funding and Republicans urging more belt-tightening and limits on how money is spent.
FINRA moves to cloud, big data, to boost capabilities
By Reuters
06/20/2014 4:16:02 PM ET

NEW YORK (Reuters)—A Wall Street regulator has begun to migrate its surveillance and other watchdog duties to cloud computing, which in combination with crunching big data, will dramatically boost the organization's capabilities, two officials at the agency said. The Financial Industry Regulatory Authority began using cloud computing at the beginning of this year in a roughly 30-month roll-out that will save FINRA $10 million to $20 million annually while making the agency operationally far more agile.
Senate's Wyden presses government over hedge funds' tax strategy: report
By Reuters
06/17/2014 5:36:43 PM ET

WASHINGTON (Reuters)—Senate Finance Committee Chairman Ron Wyden has asked the Obama administration why the United States failed to stop a tax-avoidance strategy used by hedge funds, including John Paulson's Paulson & Co., Bloomberg reported.
Limits on arbitrators with Wall St. ties to go to SEC
By Reuters
06/12/2014 2:13:06 PM ET

NEW YORK (Reuters)—Wall Street's self-regulator will ask the U.S. Securities and Exchange Commission next week to review a plan that would restrict industry veterans from acting as arbitrators in many disputes between investors and their brokerages, an official said on Wednesday [June 11].
U.S. Senate confirms Massad as CFTC chairman
By Reuters
06/04/2014 5:15:32 PM ET

WASHINGTON (Reuters) - The U.S. Senate on Tuesday confirmed Timothy Massad as the new chairman of the U.S. Commodity Futures Trading Commission and approved two others as commissioners, filling a leadership gap at the nation's derivatives regulator.
U.S. SEC officials seek clarity on compliance officers' liability
By Reuters
05/21/2014 5:32:34 PM ET

WASHINGTON (Reuters)—The securities industry's compliance officers and lawyers need better guidance on whether they can be held liable for the misdeeds of other employees at their firms, two U.S.
FINRA prepares to launch data collection plan in 2015
By Reuters
05/20/2014 3:42:34 PM ET

WASHINGTON (Reuters)—Wall Street's industry-funded watchdog aims to build and launch the initial phases of a mammoth broker data collection system in 2015, assuming it secures approval for the plan, the regulator's head said on Tuesday [May 20]. Brokerages have objected to the plan, known as the Comprehensive Automated Risk Data System, or CARDS.






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