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Speech By SEC Commissioner Luis A. Aguilar: "Better Arming Investors And The SEC With The Ability To Evaluate And Assess Investment Advisers"

Date 22/07/2010

Form ADV serves as a critical disclosure document that contains essential information for both regulators and the investing public. In particular, Part 2 of Form ADV serves as the written disclosure statement that registered investment advisers are required to provide to advisory clients in order to describe, among other things, the adviser's business practices, investment strategies, advisory fees and conflicts of interest.
Speech By SEC Commissioner: "Working Toward Fairness And Transparency In Distribution Costs"

Date 22/07/2010

Today's proposal marks a paradigm shift in the regulatory framework addressing how mutual fund assets may be used to finance distribution. The proposed framework recognizes that investors may be paying more in distribution expenses than they would have traditionally paid in a front-end sales load and seeks to rectify the situation while still balancing the need to compensate fund intermediaries for fund distribution and for the other services they provide.
SIFMA Applauds Decision By SEC On Asset-Backed Securities

Date 22/07/2010

The Securities Industry and Financial Markets Association (SIFMA) today issued the following statement from Richard Dorfman, managing director and head of SIFMA’s Securitization Group, on the SEC’s decision to issue a to issue a ‘no action’ letter allowing issuers for a period of 6 months to omit credit ratings from registration statements filed under Regulation AB.
Speech By SEC Commissioner Elisse B. Walter: Opening Statement At SEC Open Meeting — Amendments To Form ADV (Final Rule)

Date 22/07/2010

I too would like to thank the staff, and especially the Division of Investment Management, Buddy Donohue, Bob Plaze, Sarah Bessin, Dan Kahl, Vivien Liu, and Don Evans, for your labor on the final recommendations before us today. I particularly want to thank you for all the time you spent discussing this matter with me and my office. I also want to thank my counsel, Christian Broadbent, for his outstanding efforts on my behalf. I support the recommendations, and believe that they have the pote
SIFMA Deeply Concerned About Public ABS Markets

Date 22/07/2010

The Securities Industry and Financial Markets Association (SIFMA) today issued the following statement from Richard Dorfman, managing director and head of SIFMA’s Securitization Group, on 436(g), the provision of regulatory reform which is impacting the public asset-backed securities market:

FINRA Orders SunTrust Investment Services To Pay $1.44 Million For Unsuitable UIT, Closed-End Fund And Mutual Fund Transactions - Sanction Includes $540,000 In Restitution To Disadvantaged Customers; Broker Barred In Separate Action, Former Branch Manager

Date 22/07/2010

The Financial Industry Regulatory Authority (FINRA) announced today that it has ordered SunTrust Investment Services, Inc. of Atlanta, GA, to pay $1.44 million to resolve charges related to unsuitable unit investment trust (UIT), closed-end fund (CEF) and mutual fund transactions. Of that amount, $900,000 is a fine that includes nearly $224,000 in disgorgement of commissions earned on the unsuitable trades. The remaining $540,000 represents restitution to 17 customers who incurred losses.
SIFMA Supportive Of GSE Reform Which Preserves Benefits To Consumers And The Economy

Date 22/07/2010

In comments on the reform of the housing finance system, the Securities Industry and Financial Markets Association (SIFMA) expresses its support for some form of continued government support for the mortgage finance industry. Without the benefit of government support, SIFMA believes mortgage credit would be both less available and more expensive, making it more difficult for consumers to obtain loans and realize the g
SEC Charges Dell And Senior Executives With Disclosure And Accounting Fraud - Company To Pay $100 Million Penalty, Michael Dell To Pay $4 Million Penalty

Date 22/07/2010

The Securities and Exchange Commission today charged Dell Inc. with failing to disclose material information to investors and using fraudulent accounting to make it falsely appear that the company was consistently meeting Wall Street earnings targets and reducing its operating expenses.
MGEX Announces Fourth Highest Electronic Trading Volume Day In History

Date 22/07/2010

MGEX, a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO), today recorded electronic futures and options trading volume of an estimated 12,820 contracts for its flagship Hard Red Spring Wheat (HRSW) contract. The total marks the fourth highest electronic volume day in the history of MGEX. Total daily Exchange volume was 13,849 contracts traded.
Program Trading Averaged 28.7 Percent Of NYSE Volume During July 12-16

Date 22/07/2010

The New York Stock Exchange, a subsidiary of NYSE Euronext (NYX), today released its weekly program-trading data compiled from member firms’ executed volume from NYSE’s orders database. The report includes trading on the NYSE for July 12-16.