SEC rebukes Finra over altered documents
October 28, 2011 - US watchdog Finra has been given a taste of its own medicine, scolded by the Securities and Exchange Commission (SEC) for allegedly doctoring documents before passing them on.
SEC Orders FINRA to Improve Internal Compliance Policies and Procedures
October 27, 2011 - The Securities and Exchange Commission today ordered the Financial Industry Regulatory Authority (FINRA) to hire an independent consultant and undertake other remedial measures to improve its policies, procedures, and training for producing documents during SEC inspections.
GAO: OMB Needs to Improve Its Guidance on IT Investments
October 26, 2011 - The federal government invests heavily in information technology (IT). In recent years, the Office of Management and Budget (OMB) has made efforts to improve the transparency, oversight, and management of the federal government's IT investments.
Data latency and regulation are the biggest IT challenges for banks, study shows
October 21, 2011 - Data latency and incoming regulation are the two toughest technology challenges for banks, a survey has revealed. Sybase's research showed that an equal number of respondents believed that these concerns will take up the largest proportion of their firm's technology budget over the next three years.
MiFID reforms published; compliance bill to hit EUR732m in year one and EUR586m per annum thereafter
October 20, 2011 - Financial markets in Europe are set to undergo a fundamental overhaul, as the European Commission rolls out new rules and regulations covering every aspect of the trade lifecycle, from pre-and post-trade transparency, through to execution and clearing and settlement.
EU financial markets get ready for MiFID II
October 19, 2011 - The European Commission is this week meeting to finalise the details of a new set of rules governing competition and transparency in the capital markets, with implications for high frequency traders, execution venues, clearing firms, and the over-the-counter markets.The updated guidance to the four-year old Markets in Financial Instruments Directive (MiFID) has been the subject of much political jousting and lobbying, with the Commission inviting more input from the buy side and taking a tougher stance on risk management and post-trade transparency.
GAO: Opportunities Exist to Increase Transparency across Federal Reserve Bank Governance
October 19, 2011 - Events surrounding the 2007 financial crisis raised questions about the governance of the 12 Federal Reserve Banks (Reserve Banks), particularly the boards of directors' roles in activities related to supervision and regulation. The Dodd-Frank Wall Street Reform and Consumer Protection Act required GAO to review the governance of the Reserve Banks.
GAO: Opportunities Exist to Improve Role in Information Technology Management
October 17, 2011 - The federal government invests billions in information technology (IT) each year to help agencies accomplish their missions. Federal law, particularly the Clinger-Cohen Act of 1996, has defined the role of Chief Information Officer (CIO) as the focal point for IT management within agencies.
