Testimony

'Much Remains to be Done' for FSOC, Says Schapiro

Arielle Bikard May 12, 2011

SEC Chairman Mary Schapiro testified before the Senate last week on the progress of launching the Financial Stability Oversight Council, which was required by the Dodd-Frank Act. She said the FSOC has created an organizational structure, but still has much work to do on designating "systemically important financial institutions."

Current, Former SEC Officials to Testify Before FCIC

Melissa Aguilar May 04, 2010

Current and former Securities and Exchange Commission officials are among those scheduled to testify this week before the panel investigating the causes of the financial crisis.SEC Inspector General H. David Kotz, former Commissioners Christopher Cox and William Donaldson, and former Trading & Markets Division Director Erik Sirri are slated to...

Schapiro Details How the SEC Would Spend 2011 Budget

Melissa Aguilar March 17, 2010

Information that should be of interest to anyone in an organization regulated in any way by the Securities and Exchange Commission: details from its chairman on how the agency plans to spend its resources in the coming fiscal year.SEC Chairman Mary Schapiro took to the Hill this week to provide...

Roundup of SEC News, Happenings for the Week

Melissa Aguilar January 15, 2010

It was another busy week at the Securities and Exchange Commission.In addition to the new cooperation tools and policy statement and the ramp up of the new specialized enforcement units and Office of Market Intelligence previously reported, SEC Chair Mary Schapiro testified before the Financial Crisis Inquiry Commission on her...

Schapiro Says Stronger Regs Needed for OTC Derivatives

Melissa Aguilar September 23, 2009

While the Treasury's proposed legislation to regulate over-the-counter derivatives is "an important step forward," the chairman of the Securities and Exchange Commission called for Congress to strengthen the plan to avoid regulatory gaps and eliminate regulatory arbitrage opportunities.In Sept. 22 testimony before the House Committee on Agriculture, SEC Chairman Mary...

Exec Comp Reform Debate Picks Up Steam

Melissa Aguilar June 12, 2009

The national debate on executive compensation reform picked up steam this week, as the Treasury Department laid out its principles for compensation reform, unveiled its Interim Final Rule on the compensation and corporate governance standards that apply for TARP recipients, and appointed Kenneth Feinberg as Special Master for TARP Executive...

Companies Await New Disclosure Proposals

Melissa Aguilar June 09, 2009

Corporate disclosure departments may be gearing up for even more work, with proposals due in the coming weeks that will require more information about how companies pay employees, among other things.In testimony before a Senate sub-committee June 2, SEC Chairman Mary Schapiro repeated her promise for a broad package of...

Schapiro Seeks Legislation, Details Rule Proposals

Melissa Aguilar March 27, 2009

In a bid before Congress to maintain the SEC’s capital markets regulator and investor protection roles in any regulatory reform, Securities and Exchange Commission Chairman Mary Schapiro also detailed plans to seek legislation from Congress to expand the agency’s powers and rule proposals it will consider in the coming weeks...

SEC Chair Seeks Cash: 2009 Budget Requires Cuts

Melissa Aguilar March 12, 2009

Securities and Exchange Commission Chairman Mary Schapiro offered some details about what’s on her agenda for the coming year as she took to the Hill this week to convince lawmakers to increase the agency’s funding.During March 11 testimony before a House Sub-committee, Schapiro detailed an ambitious agenda that includes improvement...

Madoff Whistleblower Blasts SEC Inaction

Melissa Aguilar February 04, 2009

The whistleblower credited with repeatedly tipping off the Securities and Exchange Commission over the last nine years about the alleged multi-billion dollar Ponzi scheme involving Bernard Madoff publicly blasted the agency as “over-lawyered” and captive to the industry it regulates.Harry Markopolos, the whistleblower who provided the SEC with findings of...

SEC Nominee Schapiro Vows to Reinvigorate Enforcement

Melissa Aguilar January 15, 2009

President-elect Barack Obama’s pick to fill the top spot at the Securities and Exchange Commission plans to make reinvigorating enforcement at the Commission her top priority if she’s confirmed.“With investor confidence shaken, it is imperative that the SEC be given the resources and the support it needs to investigate and...

Cox to Congress: Major Regulatory Holes Need Fixing

Melissa Aguilar September 24, 2008

As lawmakers craft a plan to reform the financial system and calm the crisis in investor confidence, the chairman of the Securities and Exchange Commission urged them to fix two major regulatory holes.In testimony before the Senate Banking Commitee Sept. 23, SEC chairman Christopher Cox warned lawmakers that the lack...

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