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News & Commentary
Content tagged with Compliance posted in June 2007
Reg NMS Test Set for Saturday, June 30th
News  |  6/27/2007  | 
An industry-wide test will be conducted for Regulation NMS on Saturday, June 30. Brokers that participate can test their Reg NMS compliant trading systems with all the automated trading centers. When the Pilot Stocks Phase starts on July 9th all the broker dealers will have to be in compliance with Reg NMS for 249 stocks.
Wall Street Sets Guidelines on Electronic Communications
News  |  6/27/2007  | 
As Wall Street workers continue to furiously use their BlackBerrys, email, text messages and instant messaging to communicate, regulators have become increasingly concerned about the potential spread of confidential information through unsecure devices.
New Survey Says Corporate Financial Misconduct Is Still Prevalent
News  |  6/15/2007  | 
Over 50% of certified fraud examiners say they have personally observed financial misconduct in the past year, according to a new survey on corporate fraud. Around three-quarters of participants also said they felt institutional fraud was more prevalent today than in 2002, when the Sarbanes-Oxley (SOX) Act was passed in response to accounting scandals at companies such as Enron and WorldCom.
CHX Promotes Whitcomb to EVP and Chief Regulatory Officer
News  |  6/12/2007  | 
As Chief Regulatory Officer Charles Whitcomb will initially lead the exchange through its transition to being full electronic in January 2008.
Fiber Optic Network to Connect NYC and Pennsylvania
News  |  6/8/2007  | 
Wall Street firms are one step closer to getting a fiber optic network connecting lower Manhattan with northeastern Pennsylvania as part of a total back-up solution in the event of a disaster. Level 3 Communications, a global provider of telecommunications solutions, has been selected as the company that will build the fiber optic network, following an agreement between the governor of Pennsylvania, Edward G. Rendell, and Wall Street West.
New Study Finds Buy Side Wants Guidance Around Soft Dollars
News  |  6/5/2007  | 
According to a new research study from Greenwich Associates, the majority of investment managers and pension plan sponsors surveyed are in a favor of a more comprehensive regulatory framework around the disclosure of client commissions paid for equity research.

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