Senator Kaufman Calls for End to Sponsored Access
Senator Ted Kaufman (D-DE) has delivered a letter to SEC Chairman Mary Schapiro and four commissioners urging them to end sponsored access and “combat manipulative high frequency trading algorithms."
Ten Take Aways from Our Trading Summit
I just got back from Advanced Trading's fourth Buy Side Trading Summit. And although the event is off the record (no reporting using trader's or company names - a way to ensure the buy side feels free to open up -) I figured I'd share the top general takeouts from the event.
Two Madoff Programmers Arrested
The SEC has charged two of Madoff’s former computer programmers for their role in covering up the fraud at Bernard L. Madoff Investment Securities for over 15 years.
Money Manager, Ex-SEC Lawyer Pleads Guilty In Dreier Case
A New Jersey money manager, who worked as a lawyer at the SEC in the 1980s, has admitted to helping disgraced lawyer Marc Dreier carry out a scheme to attempt to sell $44.7 million in fake promissory notes by impersonating people at a hedge fund and a pension plan.
New Regulatory Requirements Require Data On-Demand
With a plethora of proposed regulations in the pipeline, financial services firms are facing more strenuous audits and data reporting requirements that could result in penalties if firms get them wrong.
What Will 2010 Bring for the Buy-Side Trading Desk?
The events of the past year and a half forever altered the financial markets. With the fall of top firms, the rise of volatility, the glaring publicity around high-frequency trading and a dramatically new regulatory climate, the trading desk of 2010 is in for some major changes.
Regulators, Be Careful What You Wish For
While some change may be necessary, regulators must remember that even the smallest shifts in policy can have wide-ranging and unpredictable effects on the markets.
Investors Demand Hedge Fund Transparency
Institutional investors are already demanding more transparency from hedge funds. Not to be outdone, regulators are readying new rules for hedge fund reporting.
Seven More Charged in Insider Trading Probe
The latest charges include current and former employees at Galleon Group as well as Incremental Capital and the law firm Ropes & Gray. The charges focus on insider trading activities around mergers and acquisitions.
Spotlight on Regulation: The New Rules of the Game
The SEC has had a busy summer not only revamping its internal processes and procedures but also focusing on potential regulation in four major areas: the over-the-counter derivatives market, short selling, dark pools and sponsored access to exchanges.