Views on improving the integrity of global capital markets

SEC


SEC Examination Interview: What Portfolio Managers and Research Analysts Need to Know

In an SEC examination prompted by aberrations in investment performance, portfolio managers need to articulate their investment strategy and how it’s being implemented.

Regulation in the United States: Too Much, Too Little, or Just Right?

CFA Institute survey results reveal that more than 50% of members who responded believe there is too much regulation in the US financial markets.

Changes in Financial Regulation in the Time of Trump: Financial Choice Act

Broad-based proposed legislation could bring wide-sweeping reforms to financial market regulation and undo Dodd–Frank and the DOL Fiduciary Rule.

Office of Compliance Inspections and Examinations—Eyes and Ears of the SEC

The OCIE at the SEC takes a transparent, risk-based, and data driven approach in examining whether registered firms are complying with SEC rules and regulations.

Advisers Beware: Create Business Continuity Plans or Risk Committing Fraud

SEC proposing a new rule that would make it unlawful for investment advisers to not have a business continuity and transition plan in place.

Money Market Fund Reforms to Reduce Systemic Risk Take Effect in October

New SEC rules for money market funds, including changes in calculating NAV, that are designed to increase their stability go into effect on 14 October.

SEC Seeks Comments on Quality of Disclosures: Important for Investors to Respond

The SEC has released a request for comment on Subpart 400 in Regulation S-K, which focuses on disclosures related to management, certain security holders, and corporate governance.

SEC’s Regulation Crowdfunding: Benefit for Investors and Industry or Concern?

Crowdfunding as an option for the offer and sale of securities became a reality when the SEC’s Regulation Crowdfunding went into effect in May.

SEC Fines Merrill Lynch $425M for Flouting Regulations, Putting Investors at Risk

Merrill Lynch disregards existing regulations and puts its customers at risk in the pursuit of short-term gains. SEC fines them $425 million.

SEC OKs IEX Application; Can “Flash Boys” Hero Improve Market for Investors?

IEX got approval from the SEC on 17 June to become the 13th registered stock exchange, as of August. Can IEX bring its intended benefits to investors? Will NASDAQ challenge the SEC’s decision?

SEC’s Investor Advisory Committee Urges Full Transparency on Bond Trades

IAC’s Kurt Schacht: “For too long, the fixed-income market has had a veil … around fees, bid-offer spreads, and [broker/dealer] mark-ups. Retail investors in particular are looking for some sunshine.”

SEC Seeks Public Input on Improving Effectiveness of Investor Disclosures

Can the business and financial disclosure requirements of Regulation S-K be improved? Investors have an opportunity to help shape the new rules.

SEC Investor Group: Mutual Funds and ETFs Should Provide Better Cost Disclosures

The group is worried about investment fund costs, said CFA Institute managing director Kurt Schacht, CFA. Our study shows even a 1% annual fee can consume over 30% of investors’ returns over 40 years.

DOL Fiduciary Rule: Though Complex It Moves Investment Advice Model in Right Direction

The US Labor Department has released its final fiduciary rules for retirement advice. While the rules steadfastly maintain their requirement for a best-interests contract for most arrangements between investors and nonfiduciary advisers, the federal agency relented on a number of troublesome implementation matters.

The IEX Application: Some Further Comments

Our TabbFORUM article on the IEX exchange application generated a lot of feedback. Will the SEC OK the current application? Will encouraging time-delay competition among exchanges benefit investors?



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