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February 8, 2013
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News on the capital markets, securities and financial industry

  Morning Bell 
 
Avoid the 3 Data Hazards of Enterprise Risk
How do you navigate and manage enterprise risk with data? We asked global finance leaders to weigh in. The result is an in-depth look at the top risk trends impacting finance leaders. Download the complete global study.
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  Industry News 
 
  • Major ratings agencies face N.Y. investigation, source says
    Standard & Poor's, Moody's Investors Service and Fitch Ratings are facing an investigation by New York Attorney General Eric Schneiderman, a source says. Schneiderman's move follows a U.S. Justice Department lawsuit against S&P over its rating of mortgage bonds before the global financial crisis. The Justice Department's decision to sue S&P and not other rating agencies has prompted questions and speculation among investors and other market participants. Reuters (2/7), Bloomberg (2/7) LinkedInFacebookTwitterEmail this Story
  • Commentary: Be wary of slowing down HFT
    High-frequency trading helps to create efficient markets in a high-information world, and ill-considered regulations can create market distortions that do more harm than good, writes Holly Bell, an assistant professor at the University of Alaska Anchorage. The Wall Street Journal (2/7) LinkedInFacebookTwitterEmail this Story
How to Nurture Superstar Employees
Focus on these three traits to help your top performers flourish—and stick around. Learn more through insights from Kellogg School of Management Professor Carter Cast.
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  Washington Roundup 
  • Senate panel sets hearing to check Dodd-Frank progress
    Next week, the Senate banking committee will hear from seven regulatory officials on their progress in instituting Dodd-Frank Act rules. Elisse Walter, chairman of the Securities and Exchange Commission; Gary Gensler, chairman of the Commodity Futures Trading Commission; and Richard Cordray, director of the Consumer Financial Protection Bureau are among those scheduled to testify. Learn more at SIFMA’s Dodd Frank-Rulemaking Resource Center. Reuters (2/7) LinkedInFacebookTwitterEmail this Story
  • SEC staff considers concerns as it finalizes MA definition
    John Cross, head of the Office of Municipal Securities at the Securities and Exchange Commission, said the agency's staff is close to finalizing the definition of municipal advisor. State and local governments have raised concerns about the MA definition, which the SEC is taking into consideration, Cross said. "Our big project ... this spring, is the municipal advisor regulation project," Cross said. "That is our main, immediate and consuming task." The Bond Buyer (free content) (2/7) LinkedInFacebookTwitterEmail this Story
  • Editorial: White is a worthy nominee to lead the SEC
    President Barack Obama has officially nominated Mary Joe White to head the Securities and Exchange Commission. Although there are a variety of concerns about White, the editors of the New York Times write that she should be considered. "Ms. White is a worthy nominee, though clearly, the White House and Ms. White will have to address the conflicts of interest in her background frankly and persuasively," according to this editorial. "Equally important, she must be able to demonstrate in her confirmation hearing that she is not captive to the financial industry's view of the world, which has dominated her recent professional life." The New York Times (tiered subscription model) (2/7) LinkedInFacebookTwitterEmail this Story
  • Commentary: White is wrong for SEC chief
    Mary Jo White's history as a lawyer for Wall Street firms is likely to make her too soft on the financial industry, despite her having been a federal prosecutor more than a decade ago, Susan Antilla writes. White may be too concerned about how pressuring the banks will affect her eventual return to the private sector, Antilla writes. Bloomberg (2/7) LinkedInFacebookTwitterEmail this Story
  Asset/Wealth Management Report 
  • FINRA concedes RIAs will remain beyond its purview
    After repeated attempts, the Financial Industry Regulatory Authority has conceded that the House Financial Services Committee was not going to expand its powers to include oversight of registered investment advisers. "I'm not a big believer in beating a head against the wall. We'll focus on things we can impact." FINRA CEO Richard Ketchum said. Reuters (2/7) LinkedInFacebookTwitterEmail this Story
  SIFMA News 
  • 2013 Securities Industry Institute (SII) -- March 3-8 -- Philadelphia
    Keep your resolution to invest more in your future by enrolling in SIFMA's Securities Industry Institute® (SII), the premier executive development program for securities industry professionals. Now in its 62nd year, the Institute is held each March at The Wharton School of The University of Pennsylvania. The mission of the Institute is to equip each participant with practical information, ideas and answers directly applicable to their present and future responsibilities. Want to know more about the SII? Hear more from SII Trustees about SIFMA's premier executive education program and the overall value for those interested in attending or nominating employees at their firm. LinkedInFacebookTwitterEmail this Story
  • Announcing SIFMA Tech 2013 in NYC -- early-bird rates available
    For 30 years, SIFMA Tech has brought together several thousand financial service firms, industry leaders, regulators and solution providers for critical updates and expert outlooks on every issue that faces the financial services technologist today. Harness technological solutions to achieve an infrastructure that keeps you and your firm on the cutting-edge and see how products from solution providers stack up against your in-house expertise. Check out the new, official SIFMA Tech website for details on this year's offering and take advantage of early-bird rates. LinkedInFacebookTwitterEmail this Story
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If you want to make enemies, try to change something."
--Woodrow Wilson,
28th U.S. president


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