Financial Industry Regulatory Authority (Finra)
Breaking the chains
The need to diversify customer credit risk and the rising importance of fiduciary standards make open architecture distribution vital to structured products’ future. As advisers become concentrated in bigger institutions and market volumes remain static,…
A bridge too far?
As exchange-traded funds become increasingly complex and start to resemble structured products, are product providers stretching the limits too far in terms of what should constitute an ETF? By John Ferry
Schapiro wants a self-funding SEC
Daily news headlines
Finra scrutinises muni-bond market; US Treasury creates Consumer Financial Protection Agency
The US Financial Industry Regulatory Authority (Finra) has launched an investigation into financial institutions' underwriting derivatives contracts used by US municipals to finance debt at lower costs.
Regulators square up to leverage ratio challenge
Bank supervisors are increasingly advocating the introduction of a gross leverage ratio as a restriction on the growth of assets relative to capital, but the biggest challenge will be to create an internationally consistent measure under diverse…
Eight CEOs face congressional bonus questions
The need for discretionary pay was one of numerous thorny issues put to chief executives of eight major banks during a hearing of the US House Financial Services Committee in Washington, DC.
Finra looks to UK for regulatory inspiration
REGULATORY UPDATE
The enforcer
Profile: Richard Ketchum