News Centre

Supporting Innovation Through the Commission’s Mission to Facilitate Capital Formation - Speech by SEC Commissioner Kara M. Stein - Stanford Rock Center for Corporate Governance, Stanford Law School, Stanford, CA

Date 06/03/2015

Before I begin my remarks, I am required to tell you that the views I am expressing today are my own, and do not necessarily reflect those of the Commission, my fellow Commissioners, or the staff of the Commission.

Phillip Boakes Sentenced Following Financial Conduct Authority Prosecution

Date 06/03/2015

Following an FCA prosecution, Phillip Boakes was today sentenced at Southwark Crown Court to ten years’ imprisonment for defrauding investors of at least £3.5m, using false instruments and accepting deposits without authorisation.

Ensuring That Shareholders Have A Meaningful, Effective Vote- Opening Statement At The SEC’s Proxy Roundtable By Commissioner Kara M. Stein

Date 06/03/2015

Welcome, and thank you all for being here today for the SEC’s roundtable on the following two issues: the Universal Proxy and Retail Participation in the Proxy Process. I appreciate that so many of you have taken the time out of your busy schedules to be here, and I am looking forward to hearing the views of our broad array of panelists, as well as the audience. In addition, thanks to the Chair and to the Division of Corporation Finance, in particular Jenny Riegel, for organizing this event. As many of you know, I have been advocating for a roundtable on these important issues, and I appreciate the hard work that it represents.

Japan's Securities And Exchange Surveillance Commission: Recommendation For Administrative Monetary Penalty Payment Order For Market Manipulation By Select Vantage Inc.

Date 06/03/2015

1. Contents of the Recommendation

The Securities and Exchange Surveillance Commission (“SESC”), today, made a recommendation to the Prime Minister and the Commissioner of the Financial Services Agency that an administrative monetary penalty payment order be issued in regard to market manipulation by Select Vantage Inc. (“Select Vantage”) pursuant to Article 20(1) of the Act for Establishment of the Financial Services Agency. This recommendation is based on the findings of the investigation into the market manipulation, whereby the following violations of laws and ordinances were identified.

Apple Set To Join The Dow Jones Industrial Average

Date 06/03/2015

Apple Inc. (NASD:AAPL) will replace AT&T Inc. (NYSE:T) in the Dow Jones Industrial Average (DJIA) after the close of trading on Wednesday, March 18. The change will be effective with the opening of trading on Thursday, March 19. The index change was prompted by Visa Inc.’s (NYSE:V) 4:1 stock split which is scheduled to be effective at the same time. The post-split adjusted lower price of Visa will reduce the weighting of the Information Technology sector in the index. Adding Apple to the index will help to partially offset this reduction. In price weighted indices such as the DJIA, a large change in price of a high priced stock can have a material impact on sector representation in the index and this index change is designed to minimize that impact. The Telecommunication Services sector will continue to be represented in the DJIA by Verizon Communications Inc. (NYSE:VZ).

Bank of England: Capital In The 21st Century - Quarterly Bulletin 2015 Q1 Pre-Release Article

Date 06/03/2015

​Capital in the 21st century
By Andrew Haldane and Rachana Shanbhogue of the Bank of England and Professors Orazio Attanasio of University College London, Timothy Besley of the London School of Economics, Peter Lindert of the University of California, Davis, Thomas Piketty of the Paris School of Economics, and Jaume Ventura of Universitat Pompeu Fabra

EBA, EIOPA And ESMA Consult On Draft Technical Standards On The Credit Quality Steps For Ecais’ Credit Assessments

Date 06/03/2015

The Joint Committee of the three European Supervisory Authorities (EBA, EIOPA and ESMA - ESAs) launched today a consultation on draft Implementing Technical Standards (ITS) on the allocation of External Credit Assessment Institution (ECAIs) to an objective scale of credit quality steps under Solvency II.

Euronext Celebrates International Women’s Day

Date 06/03/2015

Euronext, the leading exchange in the Eurozone, today celebrates International Women’s Day by hosting events across  its markets to highlight women’s contributions to decision-making, performance, sustainability, service and long-term profits of corporations.

Tribunal Partly Upholds UK's Financial Conduct Authority’s Decision To Fine Tariq Carrimjee For Assisting A Client To Commit Market Abuse

Date 06/03/2015

The Upper Tribunal (Tribunal) has released its decision in relation to Tariq Carrimjee of Somerset Asset Management LLP (Somerset).  The Tribunal upheld the FCA’s decision to impose a penalty of £89,004 and found that Carrimjee’s failings were serious and that a significant financial penalty was appropriate.

Xetra/Börse Frankfurt: New UBS ETF Launched On Xetra - ETF Provides Access With Currency Hedging To MSCI Canada Index

Date 06/03/2015

A new equity index fund from the UBS Global Asset Management product family has been tradable on Xetra in Deutsche Börse's XTF segment since Friday.