The U.S. Securities and Exchange Commission has proposed a relaxation of the rule governing the access of foreign brokerage firms to U.S. markets.The Securities Industry and Financial Markets Association applauded the SEC’s decision to open the rule, which governs how overseas investment professionals may approach potential U.S. clients and how those parties conduct business, to […]
The U.S. Securities and Exchange Commission announced an initiative to design the disclosure system of the future.The SEC pledged to examine fundamental questions about the way the SEC acquires information from public companies, mutual funds, brokers, and other regulated entities, and the way it makes that information available to investors and the markets. The aim […]
U.S. regulators and law enforcement brought charges against two former portfolio managers from Bear Stearns Asset Management over the collapse of their hedge funds last summer.The US Securities and Exchange Commission charged the fund managers with misleading investors about the financial state of the firm’s two largest hedge funds, and their exposure to subprime mortgage-backed […]
Many fixed income investors need additional information on structured finance instruments
Staff of the U.S. Securities and Exchange Commission are seeking to modernize the reporting requirements for oil and gas companies.The existing requirements concerning oil and gas reserves were adopted more than 25 years ago, and the recommendations that the SEC’s Division of Corporation Finance and Office of the Chief Accountant are providing to the commission […]
Rating agencies would differentiate ratings they issue on structured products from those they issue on bonds
The U.S. Securities and Exchange Commission today announced the list of panelists scheduled to participate in a roundtable on the use of interactive data for financial reporting.Panelists and participants include Ontario Securities Commission vice chair, Jim Turner, along with representatives from Spain, India, China, the Netherlands, Israel and Japan, among others. The meeting is scheduled […]
First results of SEC-CFTC memorandum of understanding
Schedule announced for process agreement to be completed mid-June; IIAC lends industry support
The U.S. Securities and Exchange Commission announced that it has signed protocols enabling it to share information with financial regulators in four European countries on the application of International Financial Reporting Standards.The arrangements with regulators in Belgium, Bulgaria, Norway and Portugal are in line with the work plan previously agreed to between the SEC and […]