'Flash Crash' Prompts a Rethinking of the Rules
The Flash Crash quickly spurred the realization that disparate regulation across the interdependent securities and derivatives markets is ineffective. As a result, the SEC and CFTC are wasting no time taking steps to shore up the market structure and to simplify and harmonize rules for all participants.
SEC Adopts New Proxy Voting Rules
Shareholders who own at least three percent of a company's shares continuously for the prior three years, would be eligible to nominate directors to a company's board.
Regulatory Revolving Door Raises Ethics Questions
Last week, Elizabeth King, a long-time regulator at the Securities and Exchange Commission, joined the electronic market making firm's regulatory staff, raising questions about the ethics of such a move.