The SEC reports that Erin E. Schneider has been named the associate regional director for enforcement in the San Francisco office, and will oversee the office’s enforcement efforts for northern California and the Pacific Northwest. Schneider began working in the San Francisco office in 2005 as a staff attorney and became an assistant regional director… Read More >>
Blue River Partners Hires CFO, Managing Director
After a year of growth, compliance and administrative services provider Blue River Partners is preparing for the future via adding executive staff, the launch of a new service offering, and internal promotions, officials say. Last year “was a phenomenal year at Blue River Partners,” says Mark Fordyce, CEO at Blue River Partners in a prepared… Read More >>
S&P to Pay $58M to SEC Over Fraud Charges
One of the Big Three ratings agencies, Standard & Poor’s Ratings Services, has reached a $58 million deal with the SEC, settling charges of “fraudulent misconduct in its ratings of certain commercial mortgage-backed securities,” officials say. The settlement of the case is likely to further erode the industry’s trust in the already tarnished ratings agencies,… Read More >>
SEC’s Director of Investment Management to Exit
The SEC reports that Norm Champ, director of the division of investment management, will leave this month, after five years at the agency. Champ “played a key role in the SEC’s completion of landmark reforms in 2014 to strengthen the $3 trillion money market fund industry. He also led numerous structural and policy changes at… Read More >>
Can Good Come from the Sins of Wall Street?
Thanks to the fines imposed upon Wall Street and insurance firms for their sins during the Great Recession, the New York State government has a $5.1 billion surplus for fiscal year 2016. New York Gov. Andrew Cuomo and other politicians in Albany are scrambling to sort out how to spend the windfall in the best… Read More >>
SEC Adopts Rules for Security-based Swap Repositories
The SEC has adopted rules that will require security-based swap data repositories (SDRs) to register with the regulator, and will prescribe reporting and public dissemination requirements for security-based swap transaction data, officials say. This is not the culmination of rules for reporting of security-based swaps, but only the start. The SEC has regulatory authority over… Read More >>
SEC Forms Market Structure Committee
The SEC has announced the members of a new Equity Market Structure Advisory Committee, which will look at the structure and operations of the U.S. equities markets, officials say. The committee “will provide a formal mechanism through which the Commission can receive advice and recommendations specifically related to equity market structure issues,” according to an… Read More >>
Will T+2 Make the Most Progress in 2015?
FTF News gathered forecasts from three vendors — Advent Software, DataArt and FSMLabs — to get their Ops predictions for 2015. This piece is part of a series in January exploring what key industry participants think will be the top Ops issues this year. Advent Software: T+2 to Progress the Most in 2015 Investment management… Read More >>
SEC Sets Exam Priorities for 2015
SEC officials will focus their exams in 2015 on retail investors, market-wide risks and data analytics to uncover illegal activity, according to the Office of Compliance Inspection and Examinations (OCIE). The priorities for exams this year will be “protecting retail investors, especially those saving for or in retirement; assessing market-wide risks; and using data analytics… Read More >>
FSOC Targets Risks Posed by Asset Managers
The Financial Stability Oversight Council (FSOC) reports that, on December 18, it voted unanimously to issue a public request for comment (RFC) regarding “potential risks to U.S. financial stability from asset management products and activities.” The FSOC is “seeking input from the public about potential risks to the U.S. financial system associated with liquidity and… Read More >>
