News Centre

Statement Regarding The Proposing Release On Crowdfunding, SEC Commissioner Kara M. Stein, Washington, D.C., Oct. 23, 2013

Date 23/10/2013

I’d like to echo my fellow Commissioners in thanking the staff. The proposing release before us today reflects excellent and clearly cross-divisional work on an important and challenging topic, and I commend the staff for their careful drafting and exemplary professionalism. I would also like to provide special thanks to one of my counsels, Blair Petrillo, who has spent countless hours wading through these documents, offering insights, and thoughtfully advising me on a number of the complex issues raised by today’s release.

CFTC Announces Schedule For Publication Of Reports Delayed By The Government Shutdown

Date 23/10/2013

The U.S. Commodity Futures Trading Commission (CFTC) announced an anticipated publication schedule today for reports delayed by the recent U.S. Government shutdown.

Statement At An Open Meeting of the Commission To Consider A Proposal To Implement Title III (“Crowdfunding”) Of The JOBS Act - SEC Commissioner Daniel M. Gallagher, Washington, D.C. , Oct. 23, 2013

Date 23/10/2013

I am glad to be able to support today’s proposal, and I want to thank those who have worked so hard to get us to this point.  In particular, I want to thank Jonathan Ingram and Sebastian Gomez Abero of the Division of Corporation Finance and David Blass and his team – my old team – in the Division of Trading and Markets.  I also want to acknowledge the key role played by FINRA in this rulemaking, so my thanks go out to Rick Ketchum, Bob Colby, and their team.

NYSE Euronext’s U.S. Liquidity Center Wins ‘Gold Award’ From The Uptime Institute - In Recognition Of Three Years Of Continuous Availability Since Coming Online In 2010 - The Second Award For The Liquidity Centers In 2013

Date 23/10/2013

NYSE Euronext today announced that its U.S. Liquidity Center was presented with the Uptime Institute’s ‘Gold Award’ for data centers with three consecutive years of uninterrupted availability.  As a Tier IV guided data center designed to support the global trading community with regulated, high-performance access to markets, the U.S. Liquidity Center offers customers significant levels of reliability, redundancy and efficiency with multiple levels of service. 

Platts Report: China Oil Demand Fell 2.3% In September Versus A Year Ago - Apparent Demand Decline Reflected In Lower Refinery Utilization, Net Imports

Date 23/10/2013

China's apparent oil demand in September fell by 2.3% to an average 9.66 million barrels per day (b/d) or 39.55 million metric tons (mt) versus year-ago data, according to a Platts analysis of Chinese government data.

SEC Sanctions Three Firms Under Compliance Program Initiative

Date 23/10/2013

Securities and Exchange Commission today sanctioned three investment advisory firms for repeatedly ignoring problems with their compliance programs.

Time Synchronization Critical For High-Speed Trading Firms To Stay Compliant And Profitable In 2014 - Human Error, Technology Limitations And GPS Spoofing Among Major Threats

Date 23/10/2013

To successfully execute on complex trading strategies and to stay in compliance, a firm must know the exact time that events happen, such as ticks, trades, and computed correlations. If a time stamp is off, it could be the difference between a successful trade and a debilitating business challenge. For the last 4 years, FSMLabs, has provided some of the world’s leading financial trading firms software and hardware for high-precision time synchronization and distribution to prevent intentional and accidental time errors, manage compliance, and guard against malicious attacks. However, a large number of financial firms still do not recognize just how easily time can be compromised. 

Remarks At Open Meeting, SEC Chair Mary Jo White - Government In The Sunshine Act, Crowdfunding Chair Mary Jo White

Date 23/10/2013

Good morning. This is an open meeting of the U.S. Securities and Exchange Commission on October 23, 2013, under the Government in the Sunshine Act.

Preview: Financial Conduct Authority’s Chief Executive Martin Wheatley's Manion House Speech

Date 23/10/2013

In a speech at Mansion House today, the Financial Conduct Authority’s chief executive Martin Wheatley will discuss fairness, the importance of looking forward, and cultural reform as the key to preventing future crises. Martin will  be speaking at 9pm.

Statement At Open Meeting Regarding Crowdfunding, SEC Commissioner Michael S. Piwowar, Washington, D.C., Oct. 23, 2013

Date 23/10/2013

Thank you, Chair White. 

Eighty years ago, Congress enacted the Securities Act, ushering in a new era in securities regulation.  The law’s fundamental premise was that if a company sought to sell its securities publicly, then it must file a registration statement with the government and deliver a prospectus containing statutorily required information to prospective investors.  Since that time, however, the manner and tools by which investors make investment decisions have changed dramatically.  Information about a company that would be so costly for an individual to obtain in 1933 can now be gathered easily by anyone around the world via the Internet.  And, further, the ability to communicate across the Internet allows persons to collectively express their opinions on any number of subjects, whether reviewing a product, a service provider, a movie, or a restaurant.