Securities and Exchange Commission (SEC)
SEC capital rules proposals provoke heavy industry criticism
The capital adequacy rules proposed by the US Securities and Exchange Commission (SEC) have ignited a flurry of criticism from both US and European commentators.
SEC rule on broker-dealers must be equivalent to the EU Directive on Financial Conglomerates, says SIA
The Securities Industry Association (SIA) has urged the Securities and Exchange Commission (SEC) and the US Department of Treasury to ensure that the proposed rule on the Alternative Net Capital Requirements for Broker-Dealers that are part of…
Ex-Merrill Lynch energy trader pleads guilty to fraud
At 24, Daniel Gordon headed Merrill Lynch's energy trading business. He has now pleaded guilty to a $43 million fraud.
Sponsor's article > Accounting for revenue uncertainty
The past 20 years have seen an increasing focus on mark-to-market accounting when determining corporate profits. This has been accompanied by a dramatic growth in contracts where multiple complex contingencies interact to affect valuation. David Rowe…
Boston Options Exchange set for launch this Friday
The Boston Options Exchange (Box), a joint venture by the Boston Stock Exchange, Interactive Brokers Group and the Bourse de Montreal, is on course for launch this Friday (January 30) after successful completion of tests this weekend, a spokeswoman told…
SEC probes NYSE report
The Securities and Exchange Commission (SEC) has opened an investigation into matters raised in a December 2003 report to the New York Stock Exchange (NYSE's) Board of Directors, prepared by independent counsel Dan Webb.
A window on transparency
Hedge funds will no doubt start 2004 where they left off in 2003 - as the investment vehicles of choice for private and institutional investors looking for the best opportunities for decent returns.
Hedge funds find investors on their side in SEC registration debate
After months of dialogue with hedge funds, funds of funds and prime brokers, the SEC released its much anticipated report on the hedge funds industry. But its recommendations have met with widespread scepticism.
Fraud is here to stay, say industry experts
The SEC could not stamp out fraud even if regulation of advisers comes to pass, according to industry experts.
Self-regulation: Speak no evil
In an effort to head off any attempts by regulators to mount Spitzer-style investigations into credit research, banks under the aegis of the BMA are formulating proposals to self-regulate.
Open Platform - Prepare for Even More Scrutiny
As the Attorney General, the SEC and other regulators join forces to oversee the bond market, we may need to police ourselves.
SEC produces maverick Basel II framework, redefines op risk
Throughout the Basel Accord revision process, US regulators have had a reputation for going their own way on key issues, and the Securities and Exchange Commission (SEC) is no exception.
SEC publishes its own Basel II framework
The US Securities and Exchange Commission (SEC) has finally posted its proposals for its own Basel II framework for broker-dealers and investment bank holding companies on its website.
SEC brings landmark case against teenage hacker
The Securities and Exchange Commission (SEC) has filed a complaint against a teenager that it alleges perpetrated a complex options scam. This is the first time the US regulator has brought a securities fraud case against an alleged hacker.
US SEC to begin work on Basel II rules
The US Securities and Exchange Commission (SEC) will soon issue a set of proposals, consisting of rule amendments and new rules, to create two separate voluntary regulatory frameworks for the supervision of broker-dealers and their affiliates on a…
US SEC to begin work on Basel II rules
The US Securities and Exchange Commission (SEC) will soon issue a set of proposals, consisting of rule amendments and new rules, to create two separate voluntary regulatory frameworks for the supervision of broker-dealers and their affiliates on a…
Philippines SEC drafts FX reporting guidelines
PHILIPPINES - The Philippines' Securities and Exchange Commission (SEC) last week announced draft guidelines on the preparation of foreign currency-denominated financial statements for corporations in the country.
Enron files complaint against six of its former banks
Houston-based Enron last month filed a court complaint against six of its former banks, claiming they gave bad financial advice that contributed to its demise in late 2001. As a bankrupt company, Enron is required to try to recover as much as it can for…
System-ready for Sarbanes-Oxley
Energy companies are not alone in having to review their operations to comply with the Sarbanes-Oxley Act. Energy software suppliers, too, are looking at their systems, although most are confident they are already well prepared, finds Clive Davidson
US investment banks create myriad problems for Basel II
NEW YORK - As financial institutions and banking regulators settle down to the challenge of implementing Basel II, a substantial problem has emerged for US investment banks.
ISE moves closer to equity index options trading
New York-based electronic equity options market, the International Securities Exchange (ISE), has stepped up its attempts to go head-to-head with the Chicago Board Options Exchange (CBOE) in trading equity index options by unveiling its first product,…
How to run a market
Former-derivatives-trader-turned-author Frank Partnoy wants to see tougher accounting standards and risk disclosures to deter corporate crooks. But are the regulators listening? Maria Kielmas reports
Exceptional Rates of Failure
With industry exception rates so high that the word exception is hardly appropriate, some firms are taking drastic steps. Among them: demanding that partners meet minimum standards to continue getting business.
SEC Commissioner plans aggressive Sarbanes-Oxley enforcement
WASHINGTON, DC - Despite the serious difficulties financial firms are encountering as they scramble to ensure compliance with Sarbanes-Oxley, SEC commissioner Cynthia Glassman says to expect swift and rigorous enforcement of the mandate.