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| Industry Update | | |
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- Treasury cites higher foreign investment in December
Concerns about the "fiscal cliff" apparently helped drive stronger international purchases of U.S. financial assets, including stocks and bonds, during December. "The significant increase in December is a reflection of the heightened concern among global investors about the U.S. economy being pushed into a recession by the 'fiscal cliff,' " said Millan Mulraine of TD Securities. "Investors who feared the adverse impact of a U.S. economic slowdown on global activity fled to the safe haven of Treasurys." Bloomberg
(2/15)      
- SEC anti-fraud software is expected to debut this year
Securities and Exchange Commission software that will seek out accounting anomalies and hedge fund performances that don't line up with investment strategies is expected to launch this year. The software will analyze real-time data streamed to the agency from exchanges and will use a model that the SEC has been developing since 2011. "It is a model that allows us to discern whether a registrant's financial statements stick out from the pack," Chief Economist Craig Lewis said. The Washington Post
(2/15), Financial Times (tiered subscription model)
(2/13)
| New York Focus | | |
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- N.J.'s Booker stops short of a commitment to Senate race
Cory Booker, mayor of Newark, N.J., says the Senate seat being vacated by Sen. Frank Lautenberg, D-N.J., is interesting, but he wouldn't commit to entering the race during a talk-show appearance over the weekend. "I'll spend the coming months working on exploring that," Booker said. "But right now we have one election in New Jersey, which is our statewide gubernatorial and legislative elections. As a Democrat in New Jersey, that's where my focus is." The Star-Ledger (Newark, N.J.)
(2/17)
| Career Development | | |
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- Leaders make or break innovation
There's no such thing as fire-and-forget innovation, writes Scott Anthony. Leaders can't just get innovation projects up and running -- they need to remain involved and champion the work being done. "Innovation is enough of an unnatural act in most companies ... that it requires the day-by-day attention of the company's top leadership team or it simply won't stick," Anthony warns. Harvard Business Review online/HBR Blog Network
(2/13)
| People & Personalities | | |
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- Paredes reportedly hopes to exit SEC at end of term
Republican Troy Paredes reportedly wants to leave the Securities and Exchange Commission at the end of his term in June, although sources say he would stay until the Senate confirmed a replacement. The Senate has yet to confirm Mary Jo White, President Barack Obama's most recent nominee to lead the SEC, but Paredes' expected exit may speed up the process. The Wall Street Journal
(2/15)
| On The Economy | | |
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| SmartQuote | | |
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