The top U.S. securities regulator wants new rules to help protect exchanges and other trading venues from computer-generated volume spikes and hackers seeking to harm the country’s capital markets. Get the full story »
Inside these posts: Mary Schapiro
Visit our Filed page for categories. To browse by specific topic, see our Inside page. For a list of companies covered on this site, visit our Companies page.
Oct. 27, 2010 at 2:17 p.m.
Comments Off
Filed under: Banking, Government, Regulations, Stock activity SEC sets vote on ‘naked access’ trading ban
The Securities and Exchange Commission will vote Nov. 3 on whether to adopt a proposed ban on “naked access,” a trading arrangement that allows some firms to trade anonymously.
Naked access, offered to customers by some major banks and brokerage firms, allows traders to buy and sell stocks on exchanges using a broker’s computer code, which can shield their identity from regulators and exchanges. Get the full story »
U.S. business groups sue SEC over proxy access
The U.S. Chamber of Commerce and the Business Roundtable sued the Securities and Exchange Commission Wednesday over its rule giving shareholders an easier way to influence corporate boards. Get the full story »
Report detailing May 6 ‘market failure’ expected this week
As the Securities and Exchange Commission finalizes its report on the May 6 “flash crash,” it is being forced to confront the fallout of its own decisions — which Wall Street sought and cheered — that ushered in an era of fast trading dispersed across dozens of venues.
As recently as this spring, many were applauding the speed, lower costs and competitive nature of the U.S. stock market that largely grew out of a series of policy and technology changes over a decade. “Who could argue that competition was a bad thing . . . and that faster trades would be a bad thing?” asks Joseph Saluzzi, co-head of trading at broker Themis Trading.
But the flash crash, he says, shows there have been “huge, unintended consequences.” Get the full story »
July 19, 2010 at 3:46 p.m.
Comments Off
Filed under: Banking, Investing, Policy, Politics, Regulations U.S. SEC sees staff beef-up to enforce new law
The broadest shake-up in U.S. financial services law since the Great Depression will likely require the Securities and Exchange Commission to beef up its staff with 800 new positions, the SEC’s chief said in prepared remarks on Monday. Get the full story »
July 9, 2010 at 11:45 a.m.
Filed under: Economy, Exchanges, Investigations, Regulations, Stock activity SEC still unclear on cause of flash crash
U.S. regulators are still trying to ferret out what caused the Dow Jones industrial average to mysteriously drop nearly 700 points in minutes before sharply recovering, the chairman of the Securities and Exchange Commission said Friday. More than two months after the market briefly crashed in May, market regulators are still exploring a number of theories, including an imbalance between buyers and sellers.
“What we clearly understand are what the exacerbating factors were,” SEC chief Mary Schapiro told Reuters in an interview on the sidelines of a conference in Chicago on corporate governance, “like different trading conventions in different marketplaces, liquidity replenishment points, self-help, banded orders.” Get the full story »
