News Centre

Moscow Exchange: Risk Parameters Change For The Securities RUAL And RUALR

Date 13/10/2016

The following risk parameters will be changed:

• IR risk (downward scenario) - SECΔ_1 (Y0/Y1)

Statement At Open Meeting On Investment Company Liquidity Risk Management Programs, Investment Company Swing Pricing, And Investment Company Reporting Modernization Releases, SEC Commissioner Michael S. Piwowar, Oct. 13, 2016

Date 13/10/2016

Thank you, Chair White.

I want to start by thanking the staff who worked so hard on these rules. People outside the agency may not appreciate the amount of time and energy involved in a rulemaking, particularly when there are changes at the end of the process in response to Commissioner comments. Every change in the rule text requires corresponding edits throughout the release. Doing this for one rulemaking is daunting. Here, the staff was incorporating changes for three complex rulemakings at the same time, which required them to spend evenings and weekends turning around updated drafts within a tight timeframe.

The Impact Of SEC Enforcement On Public Finance, Andrew J. Ceresney, Director, Division of Enforcement, Oct. 13, 2016, Keynote Address At Securities Enforcement Forum 2016

Date 13/10/2016

Introduction

Good afternoon and thank you for that very kind introduction.  It’s a pleasure to speak with you all today.  Before I start, I must give our standard disclaimer that the views I express today are my own and do not necessarily reflect the views of the Commission or its staff.

Statement On Adoption Of Open-End Fund Liquidity Risk Management Programs And Swing Pricing, SEc Commissioner Kara M. Stein, Oct. 13, 2016, Open-End Fund Liquidity Risk Management Programs

Date 13/10/2016

I want to thank the staff for their hard work on these rules. In particular, I want to thank Zeena Abdul-Rahman, John Foley, Andrea Ottomanelli Magovern, Naseem Nixon, Amanda Hollander Wagner, Thoreau Bartmann, Melissa Gainor, Kathy Joaquin, Christof Stahel and Sarah ten Siethoff.

Statement On Adoption Of Investment Company Reporting Modernization, SEC Commissioner Kara M. Stein, Oct. 13, 2016, Investment Company Reporting Modernization

Date 13/10/2016

In 2015, the Commission issued two proposals to modernize reporting requirements for registered investment advisers and registered investment funds. We adopted the first of these proposals in August. Those updates will enhance the information that investment advisers must provide on Form ADV – the form that advisers use to register and report annually. The enhancements will fill important data gaps, such as providing the Commission with new detail about the size and activities of separately managed accounts. Because we finalized the Form ADV revisions without an open meeting, I want to take this opportunity to acknowledge the excellent work of the staff on the August release. Thank you to all who contributed – in particular, to the rulemaking staff in the Division of Investment Management.

SIFMA AMG Statement On Today’s SEC Rulemakings

Date 13/10/2016

SIFMA’s Asset Management Group (AMG) issued the following statement on today’s rulemakings by the Securities and Exchange Commission (SEC) from Timothy Cameron, managing director and head of SIFMA AMG:  

“Today the SEC adopted comprehensive new rules on fund reporting and liquidity risk management.  SIFMA AMG supports the SEC taking the initiative to enhance its ability to monitor and regulate asset management activities, and therefore we have supported each of the rulemaking efforts addressed at today’s open meeting.  While we are still in the process of reviewing the final rules, it is clear that the Commission maintained its commitment to the goals of the proposal, including strengthening the SEC's regulatory effectiveness and protecting investors, while showing thoughtful consideration of comments by SIFMA AMG and others.  The rule was strengthened by changes to the proposed classification system, which reduce unnecessary complexity, as well as changes to the proposed three day liquid asset minimum.  We look forward to reviewing the final rules and adoptive guidance and working with the SEC as the industry works toward implementation.”

SEC Adopts Rules To Modernize Information Reported By Funds, Require Liquidity Risk Management Programs, And Permit Swing Pricing - Rules Enhance Investor Protection, Provide More Effective Data Collection By Commission

Date 13/10/2016

The Securities and Exchange Commission today voted to adopt changes to modernize and enhance the reporting and disclosure of information by registered investment companies and to enhance liquidity risk management by open-end funds, including mutual funds and exchange-traded funds (ETFs).  The new rules will enhance the quality of information available to investors and will allow the Commission to more effectively collect and use data reported by funds.  The new rules also will promote effective liquidity risk management across the open-end fund industry and will enhance disclosure regarding fund liquidity and redemption practices. 

Office Of The Comptroller Of The Currency Releases CRA Evaluations For 26 National Banks And Federal Savings Associations

Date 13/10/2016

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 September 1, 2016 through September 30, 2016. 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.

SEC: Hedge Fund Firm And Supervisor Charged With Failing To Prevent Insider Trading

Date 13/10/2016

The Securities and Exchange Commission today announced that a hedge fund advisory firm and a senior research analyst have agreed to settle charges related to their failures to detect insider trading by one of their employees.

Statement Of CFTC Chairman Timothy Massad On Order Extending De Minimis Threshold Phase-In Termination Date

Date 13/10/2016

I thank my fellow Commissioners for unanimously supporting this order, which extends the phase-in of the de minimis threshold for swap dealing by one year.