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SEC signals shake-up of equity market rules
September 7, 2010--A wide-ranging overhaul of the rules governing equity markets, including tougher controls on high-frequency traders, is being weighed by the Securities and Exchange Commission in the wake of the May 6 “flash crash”, the agency’s head said.
Mary Schapiro, SEC chairman, on Tuesday sent the clearest signal yet that the regulators intended to shake up the rules governing market participants’ obligations, which pre-date the rapid growth of high-frequency trading. Requirements for high-frequency traders to maintain liquidity in stocks and to avoid aggressively driving prices down are being considered, along with curbs on “quote stuffing” and revised controls to weed out aberrant orders, she said.
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Source: FT.com
CFTC, SEC to Host Public Roundtable to Discuss Swap Data, Swap Data Repositories and Real Time Reporting
September 7, 2010--Staff from the Commodity Futures Trading Commission (CFTC) and Securities and Exchange Commission (SEC) will hold a public roundtable on September 14, 2010, to discuss issues related to swap data repository (SDR) registration, functions and responsibilities, the mechanics of data reporting, models for real time public reporting and the effect of transparency on liquidity of block trades and large transaction sizes.
The roundtable will assist both agencies in the rulemaking process to implement the Dodd-Frank Wall Street Reform and Consumer Protection Act.
The roundtable will be held in the Lobby Level Hearing Room at the CFTC’s Headquarters, Three Lafayette Centre, 1155 21st Street, NW, Washington DC. The discussion will be open to the public with seating on a first-come, first-served basis. Members of the public also may listen by telephone and should be prepared to provide their first name, last name and affiliation.
U.S./Canada Toll-Free: (866) 312-4390
International Toll: (404) 537-3379
Conference ID: 98801653
A transcript of the public roundtable discussion will be published on the CFTC’s website. Members of the public wishing to submit their views on the topics addressed at the roundtable may e-mail their submissions to the e-mail addresses provided on the CFTC’s website on the Swap Data Repositories Registration Standards and Core Principle Rulemaking page, Interpretation & Guidance page, Data Recordkeeping & Reporting Requirements page or Real Time Reporting page, or through the comment form or e-mail address for roundtable comments provided on the SEC website.
All submissions provided to either the CFTC or the SEC in any electronic form or on paper will be published on the website of the respective agencies, without review and without removal of personally identifying information.
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Source: CFTC.gov
CFTC to Publish All Outside Meetings Regarding Implementation of Dodd-Frank Wall Street Reform and Consumer Protection Act
September 7, 2010--Commodity Futures Trading Commission Chairman Gary Gensler today announced that the agency will begin publishing a list of all meetings that either he or Commission staff has with outside organizations regarding the implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act.
“The CFTC is committed to promoting both market and agency transparency,” Chairman Gensler said. “As we implement the Dodd-Frank Act, we will make meetings that we have with outside organizations regarding the rule-writing process public. We also will continue publishing materials provided to the Commission by outside organizations. This commitment to open government will help promote the integrity of the rule-writing process.”
The list will be available in the “OTC Derivatives” section of the cftc.gov website, at http://www.cftc.gov/LawRegulation/OTCDerivatives/otc_meetings.html.
Source: CFTC.gov
MSCI unveils new ESG indices and branding: exclusive
Index giant launches two environmental benchmarks.
September 6, 2010--MSCI, the US index giant, is to unveil a suite of ESG indices including specialist environmental benchmarks under a newly branded division, MSCI ESG Research, following its acquisition in March of RiskMetrics Group (RMG), Responsible-Investor.com can reveal. The benchmark series will be rolled out publicly from September 7 after being shown to clients last week.
It includes two new environmental benchmarks; a pure play Global Environmental Index covering companies with more than 50% of revenues from environmental technologies, and the MSCI Global Climate Index of 100 larger companies considered as leaders on environmental business. MSCI has now also transitioned over the KLD index family it bought via the RMG purchase. It gives it three main lines of sustainability indices: MSCI ESG indices that are calculated on a best-in-class basis from the broader MSCI Global Investable Market Indices, a series of ‘Values-based’ indices including the KLD 400 Social Index, and the new Environmental indices.
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Source: Responsible Investor
CFTC.gov Commitments of Traders Reports Update
September 3, 2010--The CFTC.gov Commitments of Traders Reports for the week of August 31, 2010 are now available.
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Source: CFTC.gov
BNY Mellon ADR Index Monthly Performance Review- August 10, 2010
September 3, 2010--The BNY Mellon ADR Index Monthly Performance Review is Now Available
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Source: BNY Mellon
PowerShares fies with the SEC
Sptember 3, 2010--PowerShares has filed a post-effective amendment, registration statement with the SEC for
PowerShares KBW Premium Yield Equity REIT Portfolio (KBWY)<
PowerShares KBW High Dividend Yield Financial Portfolio (KBWD)
PowerShares KBW Global ex-U.S. Financial Sector Portfolio (KBWX)
PowerShares KBW Property & Casualty Insurance Portfolio (KBWP)
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Source: SEC.gov
PowerShares files with the SEC
September 3, 2010--Powershares Actively Managed Exchange-Traded Fund Trust has filed an amended application for exemptive relief.
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Source: SEC.gov
Janus files with the SEC
September 3, 2010--Janus has filed an application for exemptive relief with the SEC for actively-managed ETFs.
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Source: SEC.gov
Claymore files with the SEC
September 3, 2010--Claymore has filed an application for exemptive relief with the SEC.
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Source: SEC.gov
