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Speech By SEC Commissioner Luis A. Aguilar: Reducing The Temptation Of Advisers To Misuse Political Contributions

Date 22/07/2009

State and municipal pension plans have over $2.3 trillion of assets and represent one-third of all U.S. pension assets. This is a lot of money. These state and municipal plans are typically administered and managed by elected officials who also have the responsibility for selecting the investment advisers who oversee the plans. Obviously, these plans pay significant advisory fees to investment advisers making the management of these plans highly desirable business. Advisers compete fiercely t
Assistant Secretary For Financial Stability Herbert M. Allison, Jr. - Testimony On The Troubled Assets Relief Program - House Committee On Financial Services - Subcommittee On Oversight And Investigations, July 22, 2009

Date 22/07/2009

Chairman Moore, Ranking Member Biggert and members of the Subcommittee on Oversight and Investigations, thank you for the opportunity to introduce myself and to discuss Treasury's efforts to stabilize and repair the nation's financial system. Today, I will provide you with an update on our efforts to stabilize the financial system through a comprehensive range of programs under the both the Troubled Assets Relief Program (TARP) and the Financial Stability Plan (FSP). I will also update you on
Statement From New York Attorney General Andrew M. Cuomo On The Sec Proposing New Rules On Pay-To-Play

Date 22/07/2009

"We applaud the SEC for the new rules it proposed today. These rules will institutionalize on a national scale the principles we established in our Code of Conduct and settlement agreements with Carlyle, Riverstone, PCG and others. These reforms are essential to eliminating the corruption in the current system."
Fact Sheet: U.S. Administration’s Regulatory Reform Agenda Moves Forward - Systemic Risk Legislation Sent To Capitol Hill

Date 22/07/2009

Continuing its push to establish new rules of the road and make the financial system more fair for consumers and investors, the Administration today delivered proposed legislation to Capitol Hill that would require strong, consolidated supervision and regulation for all financial firms. The legislation also provides a regulatory regime to monitor, mitigate, and respond to risks
SIFMA: Administration Proposal For Systemic Risk Supervisor - Another Positive Step Forward

Date 22/07/2009

The Securities Industry and Financial Markets Association (SIFMA) today released a statement from President and CEO Timothy Ryan in response to the Obama Administration’s proposed legislation to create a systemic risk supervisor and the Financial Services Oversight Council.

SEC Proposes Measures To Curtail "Pay To Play" Practices

Date 22/07/2009

The Securities and Exchange Commission today voted unanimously to propose measures intended to curtail "pay to play" practices by investment advisers that seek to manage money for state and local governments. The measures are designed to prevent an adviser from making political contributions or hidden payments to influence their selection by government officials.
Energy Segment In MEFF CCP

Date 22/07/2009

MEFF is preparing to launch an Energy segment in its CCP. This segment will co-exist with the financial derivatives segment, and any other segments that may be created in the future, within the same legal entity, enabling it to take advantage of the efficiencies offered by this type of structure. Both segments will operate on the basis of a "no contamination" principle, with complete segregation of the guarantees associated with each segment, and no offsetting between them. Consequently, thos
Oral Testimony Of CFTC Chairman Gary Gensler, House Financial Services Committee

Date 22/07/2009

Click here to download the testimony of CFTC Chairman Gary Gensler to the House Financial Services Committee.
ICE Announces October Launch Of Buy-Side Solution For CDS Clearing: Segregated Funds Solution Offers Robust Protection For CDS Market Participants

Date 22/07/2009

IntercontinentalExchange(R) (NYSE: ICE), a leading operator of regulated global futures exchanges, clearing houses and over-the-counter (OTC) markets, announced today that it has developed a solution that provides segregation of customer funds and positions in credit default swap (CDS) clearing. The solution, which will enable buy-side participation in CDS clearing, is expected to be introduced in October 2009, subject to regulatory approval.
Speech By SEC Chairman Mary L. Schapiro: Statement At SEC Open Meeting

Date 22/07/2009

We meet today to consider a proposal that would significantly curtail the corrupting and distortive influence of pay to play practices, including, among other things, campaign contributions made to influence the selection of investment advisers to manage public pension plans and similar government investment accounts.