NYSE exec suggests reducing execution fees
NYSE Euronext Chief Operating Officer Lawrence Leibowitz suggested that the exchange could be willing to lower execution fees on trades in concert with measures that move more volume back to the traditional exchange. "Lowering that access fee in exchange for something that forced more volume to respect the public quote, I think would be exactly an appropriate trade off," Leibowitz said at a roundtable organized by Rep. Scott Garrett, R-N.J. There's still time to register for an update on the rapidly evolving structure of equity markets at SIFMA's Equity Markets Forum on Wednesday in NYC. Bloomberg
(5/13)
Institutional investors turn to new risk-management tools
After the financial crisis demonstrated that they were far more exposed to risk than they thought, institutional investors are employing new tools for evaluating risk. Sebastian Ceria, CEO of Axioma, said it is crucial for pension funds and other asset owners to focus on three key issues. "Understand performance and risk on assets, understand liabilities and exposures on assets, and understand exposure an institution takes on with its counterparties, particularly through derivative transactions," he said. Pensions & Investments (free access for SmartBrief readers)
(5/13)
|
SEC needs to review market framework, Gallagher says
Mary Jo White, chairwoman of the Securities and Exchange Commission, agrees that a review of the equity market framework is needed, according to Commissioner Daniel Gallagher. "We have to do a holistic review. Nobody is arguing against it," Gallagher said. Reuters
(5/14)
SEC tackles cybersecurity concerns
Securities and Exchange Commission Chairwoman Mary Jo White will be briefed by SEC staff on cybersecurity disclosure practices for companies that are publicly listed, according to a letter the agency sent to Sen. Jay Rockefeller, D-W.Va. That information will be used to assess whether companies are fulfilling their disclosure duties and complying with SEC guidance, the letter said. The Wall Street Journal/Risk & Compliance Journal blog
(5/13)
New SEC policies are mostly positive steps, Moody's says
The Securities and Exchange Commission's stricter stance on disclosures from local governments will improve the entire industry, according to a report by Moody's Investors Service. The report also forecast that proposed rule changes to money market mutual funds will make them safer, although it may "lead to a reshaping of the industry, as some funds close or consolidate, and some of the smaller money-market fund managers either exit the business or reassess their business models," the report said. Reuters
(5/13), Bloomberg
(5/13)
Possible Bernanke successor Yellen would face big task, experts say
Janet Yellen, one of the candidates to take over as head of the Federal Reserve should Ben Bernanke step down, will face the difficult task of deciding when to end the current accommodative policies of the Fed, according to experts. Yellen’s history of emphasizing unemployment makes some market analysts nervous that she will not be vigilant enough in fighting the prospect of inflation, although many consider her strong background to be an ideal profile for the position. The Wall Street Journal
(5/12)
|
FBI increases communication with banks over cyberattacks
The FBI granted a host of bank executives temporary security clearances to brief the banks in a videoconference on investigations regarding cybersecurity and the persistent attacks that online banking websites have faced in the past year, said FBI Executive Assistant Director Richard McFeely. The videoconference is part of an FBI effort to change its approach and better cooperate with the private sector on cybersecurity matters. Reuters
(5/13)
|
| Asset/Wealth Management Report |
 |
SIFMA Collateral Conference
The half-day SIFMA Collateral Conference May 21, brings buy-side and sell-side experts with insights on requirements across multiple asset classes due to changing global regulations. Get the facts on collateral for various asset classes including derivatives, securities lending and more. |
|
SIFMA Asset Management Derivatives Conference 2013 -- May 22, NYC
Prominent speakers from asset management firms as well as central clearinghouses, FCMs and SEFs, will discuss how asset managers are handling new derivatives regulatory requirements and setting priorities for implementation. The full-day program will include an overview of the new market agreed coupon (MAC) structure for interest rate swaps introduced by the SIFMA Asset Management Group, and will cover important topical issues including cross-border regulatory requirements. Register today and gain insight from all sides of the derivatives market as new regulations begin to go into effect and the new market environment begins to develop.
SIFMA-TCH Prudential Regulation Conference -- June 4, Washington, D.C.
Join us for the first annual SIFMA-TCH Prudential Regulation Conference on Tuesday, June 4. This one-day conference will feature thought leaders, regulators and industry executives on the macro-prudential policy framework and will examine the current issues as well as the role of regulation in the financial-services industry. The program will include panel discussions on bank capital and liquidity regulation, and the prudential standards for domestic and foreign banking organizations. A reception will follow the conference where you will have the opportunity to network with your peers.
|
 |
Be not angry that you cannot make others as you wish them to be, since you cannot make yourself as you wish to be."
-- Thomas á Kempis, Dutch religious scholar
|
|
Please contact one of our specialists for advertising opportunities,
editorial inquiries, job placements, or any other questions.
|
Mailing Address:
SmartBrief, Inc.®, 555 11th ST NW, Suite 600, Washington, DC 20004
|
|
|
