The first meeting of the Securities and Exchange Commission’s Asset Management Advisor Committee ended without selecting which industry topics that the various subcommittees would address. Committee chair Edward Bernard, a senior advisor to T. Rowe Price, noted that we would send out an email to committee members later in the day asking which topics they…
Tag: SEC
Current Events, Regulations
SIFMA Annual Meeting Takeaways
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•According to comments made by US Securities and Exchange Commission (SEC) Chair Mary Jo White during today’s annual SIFMA meeting, the industry should not expect regulatory oversight easing any time soon. White expects the regulator to continue its use of “aggressive tools” like wire taps and stings to discover evidence of fraud. However, budget restraints…
Current Events, Regulations
Knight Capital Pays $12 million for 15c3-5 Violation
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•The US Securities and Exchange Commission (SEC) announced today that Knight Capital Americas is the first broker-dealer it has fined for breaking market-access Rule 15c3-5 during its infamous rouge algo incident, which happened on August 1, 2012. The singular honor will cost the firm $12 million on top of the $460 million that it lost…
Current Events, Fi-Tech Culture, Regulations, Risk, Trading
We Get It: The Markets are Fine
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•Since today is the US quasi-holiday Columbus Day and Thanksgiving Day for our northern neighbor, I do not feel really bad about sharing my thoughts about the Investment Company Institute‘s Capital Markets Conference held on October 10. I have to admit that the conference had a pretty impressive line up. Commodity Futures Trading Commissioner Scott O’Malia started the…
Current Events, Trading
BATS New Data Fees Published in Federal Register
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•In filings dated July 3, but posted in today’s Federal Register, the US Securities and Exchange Commission (SEC) published the new fees that the BATS Exchange charges for its major market data feeds and logical port connections, which went into effect on July 1. Officials from exchange operator announced in April that it would begin charging…