News Centre

Trading Technologies Launches MultiBroker Trading Solution

Date 10/07/2013

Trading Technologies International, Inc. (TT), a global provider of high-performance trading software for derivatives professionals, today announced the production release of its MultiBroker trading solution.

Statement At Open Meeting Regarding Proposed Amendments To Regulation D, Form D And Rule 156 Under The Securities Act By SEC Commissioner Daniel M. Gallagher

Date 10/07/2013

Thank you, Chair White.

I cannot support today’s proposal.

I believe that the proposal, presented under the guise of “investor protection,” would thwart the purposes of the JOBS Act and threatens real harm to the private markets that are so essential to capital formation, particularly for small businesses. 

Some aspects of the proposal might make sense and could result in the Commission gaining useful insights, but in the aggregate – and in particular given the nature and intent of certain questions posed – I believe the proposal would do more harm than good.

The JOBS Act passed in both the Senate & the House of Representatives with overwhelming bipartisan support.  The President both encouraged enactment of the law in his 2012 State of the Union address and praised it in a bipartisan signing ceremony, saying that the law was a “potential game changer” for small businesses. 

U.S. Federal Agencies Issue Proposed Rule To Exempt Subset Of Higher-Priced Mortgage Loans From Appraisal Requirements

Date 10/07/2013

Six federal financial regulatory agencies today issued a proposed rule that would create exemptions from certain appraisal requirements for a subset of higher-priced mortgage loans. The proposed exemptions are intended to save borrowers time and money and to promote the safety and soundness of creditors. The appraisal requirements for higher-priced mortgages were imposed by the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). Under the Dodd-Frank Act, mortgage loans are considered to be higher-priced if they are secured by a consumer's home and have interest rates above a certain threshold.

SEC: Opening Remarks Regarding The Adoption Of Rules Eliminating The Prohibition Against General Solicitation, The Adoption Of Rules Regarding Disqualification Of “Bad Actors” From Rule 506 Offerings And The Proposal Of Amendments To Regulation D, Form D And Rule 156

Date 10/07/2013

I too would like to thank the staff who worked tirelessly on these releases. Thanks especially to the staff of the Division of Corporation Finance for your thoughtful consideration of our comments and questions.

Canadian Securities Regulators Release Three-Year Business Plan

Date 10/07/2013

The Canadian Securities Administrators (CSA) yesterday released its Three-Year Business Plan for the period April 1, 2013 through to March 31, 2016. 

Facilitating General Solicitation At The Expense Of Investors By SEC Commissioner Luis A. Aguilar

Date 10/07/2013

Today, among other things, the Commission considers amendments to Rule 506 of Regulation D, to remove the prohibition against general solicitation and advertising, if sales are made only to accredited investors. I do not support this action because both the process followed in proposing the amendments and the actual amendments being considered today come at the expense of investors and place investors at greater risk. I am particularly disappointed because this flies in the face of the Commission’s mission and did not have to be the case.

ISDA Credit Derivatives Determinations Committee: Cengage Learning Acquisitions Bankruptcy Credit Event

Date 10/07/2013

The International Swaps and Derivatives Association, Inc. (ISDA) today announced that its Americas Credit Derivatives Determinations Committee resolved that a Bankruptcy Credit Event occurred in respect of Cengage Learning Acquisitions, Inc.

Limiting — But Not Eliminating — Bad Actors From Certain Offerings By SEC Commissioner Luis A. Aguilar

Date 10/07/2013

Today, after too lengthy a delay, the Commission implements the Dodd-Frank mandate to disqualify felons and certain other bad actors from participating in unregistered offerings under Rule 506 of Regulation D. Limiting felons and bad actors from participating in Rule 506 offerings is simply the right thing to do, and I support the amendments to Rule 506.

Hellenic Exchanges S.A.: Notification About A Significant Change In Voting Rights (Law 3556/2007)

Date 10/07/2013

The HELLENIC FINANCIAL STABILITY FUND (HFSF) informed the Company in writing on 09.07.2013 that, because of a triggering transaction on 03.07.2013 it indirectly holds, through companies controlled by it, 5.90% of the share capital of HELEX (from 3.40% before the transaction).

Statement At The SEC Open Meeting By SEC Chairman Mary Jo White

Date 10/07/2013

Good morning. This is an open meeting of the Securities and Exchange Commission on July 10, 2013, under the Government in the Sunshine Act.