Addressing a large and unresolved issue that had pended since 2008, the Securities and Exchange Commission yesterday imposed new restrictions on money-market mutual funds. The rules will perform a sort of balancing act, reducing the risk of the $2.6 trillion industry, but keeping intact the prime utility of the product. Asset management companies, as well as the five-member SEC committee, have given the move mixed reviews, with two members of the latter voting against the new ruling.
Some mo ...
Full article at: BidnessEtc
1 day ago, 6:26pm CDT
Source: Mother Jones
"You don't want to mess with Mary Jo."
Mary Jo is "aggressive."
"Mary Jo is…tough as nails."
That's just a sampling of the many compliments paid to former Wall Street defense lawyer Mary Jo White in January 2013, when President Barack Obama nominated her to run the Securities and Exchange Commission (SEC), a major banking watchdog. But after more than a year in charge, White hasn't lived up to the hype, inst ...
Full article at: Mother Jones
Jul 3 2014, 5:00am CDT
Source: Forbes Real Time
Do you know it when you see it? Unethical corporate behavior that is. It's more than a flip question, since Securities & Exchange Commission Chair Mary Jo White declared last October that the agency would take a "broken windows" approach to enforcement and go after ...
Full article at: Forbes Real Time
Jun 26 2014, 8:55am CDT
Source: Channel News Asia
NEW YORK: New York prosecutors sued British bank Barclays for fraud on Wednesday, saying it ran a "dark pool" securities trading operation to the benefit of "predatory" high-frequency traders.Attorney General Eric Schneiderman said Barclays promised clients that it would protect them from aggressive high-speed trading firms in the dark pools but at the same time took steps that benefited these f ...
Full article at: Channel News Asia
Jun 25 2014, 6:24pm CDT
Source: Financial Post
NEW YORK — The New York Attorney General on Wednesday filed a securities fraud lawsuit against Barclays PLC for misrepresenting the safety of its U.S.-based alternative trading system, or “dark pool,” to investors.
The lawsuit alleges that in order to increase business in its dark pool, Barclays has favored high-frequency traders and has actively sought to attract them by giving them systematic advantages over other inv ...
Full article at: Financial Post
Jun 25 2014, 5:09pm CDT
Source: Canadian Business Online
Energetic stock market pushes toward milestones
NEW YORK (AP) — The U.S. stock market is back to setting records.
After treading water for most of March and April, stocks are nudging deeper into record territory and are closing in on milestones with lots of zeros attached to them. The Dow Jones industrial average is within 53 points of 17,000 while the Standard & Poor’s 500 is just shy of 2 ...
Full article at: Canadian Business Online
Jun 20 2014, 4:48pm CDT
Source: The Washington Post
Securities and Exchange Commission Chair Mary Jo White on Friday called for reforms to the fixed-income market, advocating several proposed regulations that she said would make it cheaper and more efficient for investors to buy and sell bonds. Read full article > ...
Full article at: The Washington Post
Jun 20 2014, 1:55pm CDT
Technology is being used in the bond market to the advantage of intermediaries but not for retail investors, SEC Chai ...
Full article at: CNBC
Jun 20 2014, 11:15am CDT