The SEC will need to boost staff by 800, bringing the total to 4,600, in order to tackle all of the new responsibilities set out in recent reform legislation, SEC Chairman Mary Schapiro said in a prepared statement Monday. Her remarks will be part...
The SEC doesn't want any more newfangled products dreamt up by math whizzes on Wall Street to slip through the regulatory cracks. You know, like those mortgage-backed CDOs that messed everything up in 2008 and 2009. And so, it's creating three new...
The Senate voted 60 to 39 Thursday afternoon to pass the Wall Street regulatory reform bill. The bill, which has been the subject of intense debate for months, now goes to President Obama for his signature. Among other things, the legislation is...
Senator Chuck Grassley (R-Iowa) has decided he will vote against the final Wall Street reform bill when it comes to a final vote in the Senate, says The Wall Street Journal, though he voted in favor of the Senate version of the legislation two...
Former SEC Chairman Harvey Pitt writes a column in The Daily Beast arguing that the Wall Street reform bill that may go to final vote in the Senate today is a complete failure. Among other things, it sets the SEC up to fail: ...
NASAA sent a letter to the SEC Tuesday urging it to reject the creation of a new form ADV Part II for SEC-registered investment advisers only. Last week the state regulatory group was informed by SEC staff that they would be recommending adoption...
Senator majority leader Harry Reid of Nevada said Tuesday that he hopes a final vote on the Wall Street reform bill could take place Thursday after a procedural vote schedule for earlier that day takes place. Democrats said Tuesday they had the 60...
SEC examiners should spend less time examining procedural problems, and more time trying to detect fraud, writes Bob Veres in a column today in Advisor Perspectives. He argues that the SEC is not lacking the resources to do its job effectively. It...
American economist, professor and author James K. Galbraith writes in The New Republic that the financial crisis is far from over, and the only way to shore up the economy is to restore the "rule of law" in the banking system. The current reform...
State securities regulators, set to take on greater oversight responsibility for financial fraud if the Wall Street reform bill takes effect, are enlisting the help of medical doctors to catch securities fraudsters who target seniors. According to...
