If the votes go well for them on Tuesday, Nov. 4, what will the Republicans do with their new power? In case you haven’t been following the horse-race coverage in the U.S. media, all the signs point to a good night for Republicans on November 4 when the U.S. votes in another pivotal, mid-term election…. Read More >>
SEC Municipal Securities Director to Leave
The SEC reports that John J. Cross III, who, since 2012 served as the first director of the office of municipal securities, will leave the agency in November. Cross is “expected to rejoin the Office of Tax Policy at the U.S. Treasury Department,” according to the SEC. The office of municipal securities was established under… Read More >>
Firm Charged Again for Violating Custody Rule
The SEC has filed charges against an investment advisory firm and its top three officials for violating the custody rule — the latest in a series of alleged violations for the firm, stretching back to 2004. The custody rule requires firms to follow certain reporting procedures when they control or have access to client money… Read More >>
SEC Names Associate Director for IA/IC Exams
The SEC has named Steven J. Levine as the associate director for the investment adviser/investment company examination program in its Chicago office, officials say. Levine will oversee the IA/IC examination program in nine Midwestern states, with a staff of roughly 65 examiners, accountants and attorneys. Levine joined the IA/IC examination program in Chicago in 2010… Read More >>
SEC Fills OCIE Post
Marc Wyatt, who joined the SEC in December 2012 as a senior specialized examiner focused on advisers to hedge funds and private equity funds, has been named deputy director of the SEC’s Office of Compliance Inspections and Examinations (OCIE). Wyatt also is the national co-coordinator of OCIE’s private fund specialized working group, and recently participated… Read More >>
AxiomSL ‘Computes Haircuts’ to Meet SEC Rules
AxiomSL, a provider of regulatory reporting and risk management software, has unveiled a solution that “computes haircuts,” to comply with the SEC’s regulatory capital and reporting rules for securities broker-dealers, the company says. The solution “assures transparency, traceability and auditability enabling securities broker-dealers to source, calculate, analyze, and generate reports to meet compliance requirements of… Read More >>
Joss Technology to Use OpenCorporates Data
Entity data management vendor Joss Technology will be using the company information datasets of the cutting-edge OpenCorporates website in order to provide data management tools and workflows for key securities operations, officials say. The vendor and the website sponsored by Chrinon Ltd., are hoping that the combined offerings can be applied to compliance, risk management,… Read More >>
SEC Makes Available Swaps Data Analyses
Analyses of data regarding the reporting and dissemination of security-based swap-transaction information are now available at the SEC’s website. The SEC reports that the analyses examine the “effect of the Commodity Futures Trading Commission’s mandated post-trade transparency in the index credit default swaps (CDS) market on total credit exposure, trading volume, and trade size in… Read More >>
FICC Wants to Expand Tri-Party Repo Clearing
The Fixed Income Clearing Corp. (FICC), a DTCC subsidiary, wants to provide centralized clearing for more participants in the estimated $1.6 trillion institutional tri-party repo market and will be asking the SEC and the Federal Reserve for the permission to do so. The FICC oversees the confirmation and settlement of fixed-income securities for U.S. markets…. Read More >>
Greed, Governance and the Trust Factor
Good governance is a watchword of today’s financial services industry. But are the new regulations and requirements enough to restore trust? The public’s trust in the industry “languishes at about the 24 percent level, with many expressing continued concerns regarding both excessive compensation and a lack of integrity among top corporate managers,” SEC Commissioner Luis… Read More >>
