News Centre

Brexit: European Commission Recommends Sufficient Progress To The European Council (Article 50)

Date 08/12/2017

The European Commission has today recommended to the European Council (Article 50) to conclude that sufficient progress has been made in the first phase of the Article 50 negotiations with the United Kingdom.

Change To The UBS Board Of Directors - Jeremy Anderson To Be Nominated For Election To The UBS Board Of Directors At The Forthcoming Annual General Meeting.

Date 08/12/2017

The UBS Board of Directors announced today that it will nominate Jeremy Anderson for election to the Board of UBS Group AG at the Annual General Meeting of Shareholders on 3 May 2018 and for election to the Board of UBS AG.

IMF Statement On Basel III Bank Capital Standards

Date 08/12/2017

IMF spokesman Gerry Rice issued the following statement today in Washington D.C.:

“The IMF welcomes the finalization of the Basel III reform package, which provides greater assurance that the key risks to which the banking system was exposed in the financial crisis are being suitably addressed, and urges national authorities to move swiftly to implement these reforms in a timely and consistent manner.”

SEC: Broker Charged With Defrauding Investors

Date 08/12/2017

The Securities and Exchange Commission charged a registered representative in Pennsylvania with operating a long-running offering and investment advisory fraud.

Daniel Michael Named Chief Of SEC Enforcement Division’s Complex Financial Instruments Unit

Date 08/12/2017

The Securities and Exchange Commission today announced that Daniel Michael has been named chief of the Enforcement Division’s Complex Financial Instruments Unit.

Address At Investment Company Institute’s 2017 Securities Law Developments Conference, SEC Commissioner Kara M. Stein, Washington D.C., Dec. 7, 2017

Date 07/12/2017

Thank you, Dorothy [Donohue], for that kind introduction.  It’s a pleasure to be with you today.

Before I go further, I must state that the views I express today are my own, and not necessarily those of my fellow Commissioners or the SEC staff.

I would like to start out by thanking everyone in this room for what you do every day to help investors from all over the world save for retirement, college, and other important priorities. Although your client in the investment company space may be the fund sponsor, the investment adviser, or the fund itself—depending upon your role—the person who relies on all of you is ultimately the investor. Investors trust in you to design, operate, and service a product that gets them to where they want to go smoothly, and without problems caused by a design or compliance flaw. In many ways, you are like aircraft designers. Passengers need to have confidence in the safety and soundness of the aircraft. Likewise, investors need to have confidence in the safety and soundness of investment products. Of course, investor trust cannot be designed or manufactured. Trust must be earned—through diligence, through restraint, and through experience.

US Treasury Secretary Mnuchin’s Statement On Basel III

Date 07/12/2017

U.S. Treasury Secretary Steven T. Mnuchin issued the following statement on the completion of Basel III Capital Standards:

 "The consensus agreed to by the Group of Governors and Heads of Supervision (GHOS) completes nearly seven years of work on the Basel III bank capital standards. The reforms standardize the approach, improve the quality and consistency of bank capital requirements, and will help level the playing field for U.S. firms and businesses operating internationally."

Keynote Address: ICI Securities Law Developments Conference, Dalia Blass Director, SEC Division Of Investment Management

Date 07/12/2017

Introduction

Good morning. Thank you Dorothy [Donohue] for that kind introduction, and thank you for inviting me to speak today. I am pleased and honored to join in a long tradition of Division of Investment Management Directors speaking at this conference.

U.S. Banking Agencies Support Conclusion Of Reforms To International Capital Standards

Date 07/12/2017

The federal banking agencies on Thursday announced their support for the conclusion of efforts to reform the international bank capital standards initiated in response to the global financial crisis.

Canadian Securities Regulators Publish Notice On Complying With Requirements Regarding The Ombudsman For Banking Services And Investments

Date 07/12/2017

The Canadian Securities Administrators (CSA), Investment Industry Regulatory Organization of Canada (IIROC) and Mutual Fund Dealers Association of Canada (MFDA) today released a joint notice CSA Staff Notice 31-351, IIROC Notice 17-0229, MFDA Bulletin #0736-M Complying with requirements regarding the Ombudsman for Banking Services and Investments (OBSI).