News Centre

SIFMA Statement On The Current TTIP Negotiations

Date 17/12/2013

SIFMA today issued the following statement from Kenneth E. Bentsen, Jr., SIFMA president and CEO, on this week’s TTIP negotiations: 

“The TTIP negotiations in Washington, DC this week offer the opportunity for U.S. and E.U. policymakers to enhance their financial regulatory coordination process.  This is fundamental to our intertwined economies and financial markets. SIFMA supports a trade agreement that includes financial services regulatory coordination.  This is a critical opportunity to enhance coordination, reduce conflict and confusion, and improve the efficiency of regulations across jurisdictions.  Importantly, a financial services regulatory framework between the U.S. and E.U. would facilitate and guide efforts to promote consistent high-quality regulatory standards in global markets. 

European Banking Authority Publishes Final Draft Technical Standards On Securitisation Retention Rules

Date 17/12/2013

The European Banking Authority published today its final draft Regulatory Technical Standards (RTS) on securitisation retention rules and related requirements, as well as its final draft Implementing Technical Standards (ITS) on the convergence of supervisory practices related to the implementation of additional risk weights in the case of non-compliance with the retention rules.

A Comprehensive EU Response To The Financial Crisis: Substantial Progress Towards A Strong Financial Framework For Europe And A Banking Union For The Eurozone

Date 17/12/2013

This memo will be updated regularly to reflect latest developments. This memo is meant as information tool: it is not a legal text.

INTRODUCTION

The financial crisis highlighted the need for better regulation and supervision of the financial sector. It is the reason why the European Commission has since 2010 proposed nearly 30 sets of rules to ensure all financial actors, products and markets are appropriately regulated and efficiently supervised. These rules are the basic framework for all 28 Member States of the EU and underpin a properly functioning single market for financial services.

NASDAQ IPOs Surge 74 Percent In 2013 - Led U.S. Exchanges With 125 IPOs And 30 Listing Venue Switches - 7 Of The Top 10 And 60 Percent Of The Top 100 Best Performing IPOs In 2013 Listed On NASDAQ - More Technology And Health Care Companies Listed On NASDAQ Than Any Other U.S. Exchange In 2013

Date 17/12/2013

The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) welcomed 233* new listings to The NASDAQ Stock Market in 2013, including 125 initial public offerings (IPOs) - more IPOs than any other U.S. exchange, representing a 74 percent increase from the 72* IPOs that occurred on NASDAQ in 2012. 60 percent of the top 100 best performing IPOs overall this year, including seven of the top 10, listed on NASDAQ and combined proceeds raised by NASDAQ-listed IPOs in 2013 totaled more than $15 billion. NASDAQ also led the industry with 30 listing venue switches with $66.6 billion in combined market value switching from our competitors' exchanges to NASDAQ in 2013.

Remarks At SEC Open Meeting, Statement At An Open Meeting of the Commission to Consider a Proposal for Amendments to Regulation A to Implement Section 401 of the Jumpstart Our Business Startups Act - SEC Commissioner Daniel M. Gallagher, Washington, D.C., Dec. 18, 2013

Date 17/12/2013

Thank you, Chair White.

I am happy to support today’s proposal, which implements an important provision of the JOBS Act: Congress’s mandate, in Title IV, that we add a new exemption for small offerings pursuant to Section 3(b) of the Securities Act. I salute Chair White for her leadership in making this proposal a Commission priority. I want also to add my appreciation for the staff’s expert work in bringing us to this point. In particular, I want to thank Zach Fallon, Karen Wiedemann, Shehzad Niazi, and their team in the Division of Corporation Finance who, under Keith’s leadership, have done a great job on this proposal.

European Banking Authority Publishes Outcome Of 2013 EU-Wide Transparency Exercise

Date 17/12/2013

The European Banking Authority (EBA) disclosed today updated information on 64 European banks from 21 countries of the European Economic Area (EEA). The data covers the first half of 2013 and is based on 730,000 data points including capital, Risk Weighted Assets (RWAs) and sovereign exposures. Through this disclosure exercise, the EBA aims to promote greater understanding of capital positions and exposures of EU banks, thus contributing to market discipline and financial stability in the EU.

Office Of Financial Research Releases Second Annual Report - Report Identifies Threats To Financial Stability And Tools To Monitor Them, Including Prototype Financial Stability Monitor

Date 17/12/2013

The Office of Financial Research (OFR) today submitted to Congress its 2013 Annual Report,fulfilling a requirement to annually assess the state of the United States financial system and analyze threats to U.S. financial stability.

SEC Announces Enforcement Results For FY 2013

Date 17/12/2013

The Securities and Exchange Commission today announced that the agency’s enforcement actions in fiscal year 2013 resulted in a record $3.4 billion in monetary sanctions ordered against wrongdoers.

Direct Edge Trading Notice #13-51: Market Holiday Reminder - Christmas

Date 17/12/2013

In observance of the Christmas holiday, EDGA Exchange^SM (EDGA^®) and EDGX Exchange^SM (EDGX^®) will close early on Tuesday, December 24, 2013, with the regular trading session ending at 1:00 p.m. and extended session ending at 5:00 p.m. In addition, both EDGA and EDGX will be closed on Wednesday, December 25, 2013. Both exchanges will resume normal trading hours on Thursday, December 26, 2013.

Two New Public Governors Appointed To FINRA Board Of Governors, FINRA Creates New Investor Committee

Date 17/12/2013

The Financial Industry Regulatory Authority (FINRA) has named two new public Governors — Dr. Brigitte C. Madrian and Dr. Luis M. Viceira — to its Board of Governors. Dr. Madrian, the Aetna Professor of Public Policy and Corporate Management at the Harvard Kennedy School, and Dr. Viceira, the George E. Bates Professor at the Harvard Business School, will join the Board in January 2014. Governors are appointed or elected to three-year terms and may not serve more than two consecutive terms. FINRA today also announced the creation of a new Investor Issues Committee to advise FINRA staff on matters that significantly affect individual and institutional investors.