News Centre

FINRA Bars Registered Representative For Unauthorized And Unsuitable Trading In Elderly Customer’s Retirement Account

Date 01/03/2017

The Financial Industry Regulatory Authority (FINRA) announced today that it has barred former K.C. Ward Financial registered representative Craig David Dima for making unauthorized and unsuitable trades totaling approximately $15 million in a 73-year-old retiree’s account, and for misrepresenting the reasons for the trades to the customer.

Opening Statement On Proposed Amendment To Rule 15c2-12, SEC Acting Chairman Michael S. Piwowar

Date 01/03/2017

We now turn to the recommendation from the Office of Municipal Securities to propose rule amendments that would improve public access to information about certain financial obligations incurred by issuers of municipal securities and obligated persons outside the public offering process.  To promote efficient pricing of a municipal issuer’s outstanding securities, investors and other market participants should have access to current information about a municipal issuer’s financial condition and the creation of risks that impact existing security holders.  By facilitating timely access to important information about a municipal issuer’s financial obligations, today’s proposal seeks to equip investors making investment decisions and market participants undertaking credit analyses with continuing disclosures to better assess a municipal issuer’s overall indebtedness and creditworthiness. 

Office Of The Comptroller Of The Currency Releases CRA Evaluations For 17 National Banks And Federal Savings Associations

Date 01/03/2017

The Office of the Comptroller of the Currency (OCC) today released a list of Community Reinvestment Act (CRA) performance evaluations that became public during the period of February 1, 2017 through February 28, 2017. The list contains only national banks, federal savings associations, and insured federal branches of foreign banks that have received ratings. The possible ratings are outstanding, satisfactory, needs to improve, and substantial noncompliance.

Opening Statement On Hyperlinks And HTML Adopting Release - SEC Acting Chairman Michael S. Piwowar

Date 01/03/2017

Next, we will consider and vote on a recommendation from the Division of Corporation Finance to issue an adopting release that will modernize and update our disclosure rules.  Today’s action will bring the Commission further into the 21st Century by harnessing technology to improve the manner in which investors can access public company disclosure.

New York Attorney General Eric T. Schneiderman Responds To Lamar Smith: We Will Not Comply With Your Unprecedented And Unlawful Subpoena - News From Attorney General Eric T. Schneiderman - In Letter To House Science Committee Chairman Smith, NYOAG Makes Clear: Subpoena Oversteps Boundaries Of Federalism, Separation Of Powers, Committee Jurisdiction – And Seeks To Distract, Delay, And Disrupt Multiple State And Federal Investigations Into Whether Exxon Committed Fraud

Date 01/03/2017

Today, New York Attorney General Eric T. Schneiderman responded to a subpoena issued by the Chair of the House Committee on Science, Space, and Technology, Republican Texas Congressman Lamar Smith. In the letter to Smith, the New York Office of the Attorney General (NYOAG) makes clear that the subpoena oversteps the boundaries of federalism, separation of powers, and the Committee’s own jurisdiction – seeking to distract from, delay, and disrupt multiple state and federal investigations into whether ExxonMobil committed fraud.

Opening Statement On Inline XBRL Filing Of Tagged Data, SEC Acting Chairman Michael S. Piwowar

Date 01/03/2017

Next on the agenda is a recommendation that the Commission propose to require the use of Inline XBRL for the financial statement information and mutual fund risk/return summary information that is currently submitted as a separate interactive data file on our EDGAR system. 

SIFMA Statement On DOL's Proposed 60-Day Delay And Review Of The Fiduciary Rule

Date 01/03/2017

SIFMA today issued the following statement from Kenneth E. Bentsen, Jr., SIFMA president and CEO, on the Department of Labor's proposal to delay the fiduciary rule for 60 days and open a 45-day comment period: 

"Given the review requested by the administration, and the DOL's call for comments on the rule, this 60-day delay should be implemented with haste. The delay will allow the new administration an opportunity to review the rule's impact on investors and the market, while providing firms additional time to prepare for potential changes to the rule."

SEC Approves Rules To Ease Investor Access To Exhibits In Company Filings

Date 01/03/2017

The Securities and Exchange Commission today voted to adopt rule and form amendments to make it easier for investors and other market participants to find and access exhibits in registration statements and periodic reports that were originally provided in previous filings. 

OneChicago Announces Trading Volume For February 2017

Date 01/03/2017

OneChicago, LLC (OCX), a securities finance exchange, today announced its February 2017 volume of 853,126, an increase of 8% year-over-year. OneChicago is a CFTC and SEC regulated exchange offering Single Stock Futures (SSF), a Delta One product, on approximately 1,800 equities, including ADRs and ETFs.  

SEC Proposes Rule Amendments To Improve Municipal Securities Disclosures

Date 01/03/2017

The Securities and Exchange Commission (SEC) today voted to propose rule amendments to improve investor protection and enhance transparency in the municipal securities market.