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News & Commentary
Content tagged with Compliance posted in February 2009
Rethinking Market Regulation
Commentary  |  2/25/2009  | 
Over the years, regulators and legislators have tinkered with the markets, making it virtually impossible to raise capital, says Larry Tabb.
Wall Street to Fight Proposed .25% Tax on Executions to Pay for Bailout
News  |  2/25/2009  | 
Proposed .25% tax on executions has stirred Wall Street to act in opposition.
Why Are We Letting the Shorts Kill the Market?
Commentary  |  2/24/2009  | 
Remember the bullies in the school yard, all picking on a defenseless youngster. They all piled on and took shots at hurting the kid. That’s what’s happening on Wall Street.
Firms Must Prepare for GIPS To Become Mandatory Reporting Standard
News  |  2/23/2009  | 
For firms to be compliant, investment managers will need to ensure their systems are up to snuff, or invest in upgrades or new systems, Aite says in a new report.
How to Transform the SEC Into a '21st-Century Regulator'
News  |  2/20/2009  | 
The Bernard Madoff scandal and the credit crisis have highlighted the need for major changes at the SEC.
Which Regulator Does What on Wall Street?
News  |  2/20/2009  | 
SEC Chairman Mary Schapiro Outlines Priorities
News  |  2/20/2009  | 
Charged with transforming the SEC into a '21st-century regulator,' Schapiro says, 'The crisis facing our capital markets will require aggressive and timely action.'
FINRA Names Vet Reg Ketchum To Succeed Schapiro
News  |  2/19/2009  | 
Ketchum, now the chief executive of NYSE Regulation, previously worked for the SEC, including as head of market regulation.
Oracle New Release Helps Firms Comply With Basel II
News  |  2/17/2009  | 
The solution addresses all major components of ICAAP, including risk assessment, risk monitoring, modeling, stress testing, risk aggregation and allocation as well as regulatory reporting, according to Oracle.
Clearwater Analytics Automates Reporting and Disclosure Requirements to Comply with FAS 157
News  |  2/13/2009  | 
Enhancements streamline selection and tracking of fair-value measurements, level 3 roll forward adjustments and audit trail
Clearwater Analytics Automates Reporting and Disclosure Requirements for FAS 157
News  |  2/12/2009  | 
According to FAS 157 guidelines, organizations must assign a fair-value measurement standard to all investment securities.
Regulatory Action and Market Conditions Will Force Banks and Hedge Funds to Tighten EDM Controls on Sensitive Files
News  |  2/11/2009  | 
Measurable improvements to operational risk controls will be required to prevent Madoff and Kerviel scenarios from jeopardizing a firm's survival
Treasury Revamps Bailout Plan
News  |  2/10/2009  | 
Geithner introduced a four-point plan that aims to restart the flow of credit to businesses and consumers. In addition, a public-private investment fund of $500bn will be created to absorb banks' toxic assets.
Madoff and SEC Agree on a Partial Judgment
News  |  2/9/2009  | 
Madoff will not have to admit or deny and allegations against him, but will have to eventually return investors' money and pay a fine.
SEC Enforcement Director Thomsen Resigns
News  |  2/9/2009  | 
The SEC has announced that Linda Thomsen, Director of the Division of Enforcement, will leave the regulatory body and return to the private sector.
Markopolos: SEC a Group of Chickens Tasked with Catching Foxes
News  |  2/6/2009  | 
Madoff whistler-blower Harry Markopolos shared his recommendations for a new SEC this week at a House Financial Services Subcommittee hearing into Madoff fraud.
Maybe It's The Regulators Who Need Bonuses
News  |  2/4/2009  | 
Regulators have really failed, whether it's with the Madoff scandal or the financial crisis. One problem is that regulators aren't attracting the most talented people.
Whistle-blower Markopolos: In Less Than Four Hours I Knew Mathematically Madoff Was a Fraud
News  |  2/4/2009  | 
A detailed timeline of Harry Markopolos’ contact with the SEC regarding his findings that Madoff was a fraud.
Obama Sets Limit on Executive Pay
News  |  2/4/2009  | 
President Barack Obama is imposing a $500,000 cap on executives whose firms receive bailout money and other restrictions.
The Bank of New York Mellon’s Pershing Unit Establishes Its First Clearing Relationship in Scandinavia
News  |  2/4/2009  | 
Agreement with Nordnet Bank AB enables Pershing to continue expanding its global reach
Compliance to Take Center Stage if SEC Registration is Required of Hedge Funds
News  |  2/2/2009  | 
Two big items are the written code of ethics and an annual compliance review.
SEC Posts Final Rule Mandating XBRL For Big Companies by June 2009
News  |  2/2/2009  | 
Interactive data has the potential to increase the speed, accuracy and usability of financial disclosure, and eventually reduce costs, says SEC.

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