Uncategorized

The Great Debate over how to fix the financial regulatory system in the United States has begun. Lord knows when it will ever end. Washington lawmakers held a flurry of committee meetings last week, both in the House and Senate, to review the credit crisis and ponder what legislation might be necessary in coming months […]

The credit crisis is hogging most of the Securities and Exchange Commission’s attention these days—but that does not mean the Commission’s other rulemaking plans are out of the picture. Speaking last week at a gathering of securities analysts in New York, a top SEC official gave a recap of all the agency’s other plans, before […]

Nasdaq has filed a proposed rule change with the Securities and Exchange Commission temporarily suspending some of its listing requirements, in light of “extraordinary market conditions.” The rule change temporarily suspends, through Jan. 16, 2009, the application of the continued listing requirements related to bid price and market value of publicly held shares. The proposal […]

The Securities and Exchange Commission took action on rules aimed at curbing abusive short selling, making final two rules it had adopted temporarily and publishing an interim final rule for comment.The SEC had used its emergency authority to adopt temporary rules banning short-selling at all companies in mid-September in an attempt to shore up investor […]

A forum intended to debate the future of the Securities and Exchange Commission turned last week into a gripe session about problems the SEC must tackle in the present, as Chairman Christopher Cox called for new powers to regulate the credit derivatives that have shattered Wall Street. Speaking at what originally had been billed as […]

For those looking for some light reading, the Securities and Exchange Commission has posted the 119-page adopting release for its Foreign Issuer Reporting Enhancements, part of a package of amendments approved Aug. 27 to modernize its rules relating to foreign private issuers. As Compliance Week reported, most of the amendments are expected to be helpful […]

Companies involved in litigation will want to take a look at new Federal Rule of Evidence 502, now in effect. The rule was created by S. 2450, which was signed into law Sept. 19 by President Bush. The legislation amends the Federal Rules of Evidence with respect to the disclosure of a communication or information […]

A day after it banned naked short selling, the Securities and Exchange Commission, in concert with the U.K. Financial Services Authority, took temporary emergency action to prohibit short selling in financial companies to shore up investor confidence. The U.K. FSA took similar action yesterday. The Commission’s action, effective immediately, will apply to the securities of […]

The energy industry has generally welcomed the Securities and Exchange Commission’s efforts to modernize its antiquated rules governing how companies disclose their oil and gas reserves, but has also presented a litany of suggested improvements. The SEC published its 171-page proposed overhaul in June, and the comment period ended earlier this month. The existing rules […]

A flurry of Securities and Exchange Commission rule changes that modernize the disclosure requirements for foreign issuers offering securities in U.S. markets are getting a thumbs up from experts, who say companies should find the majority of changes welcome and helpful. While the recently approved amendments to the SEC’s rules related to foreign private issuers […]