Sifma : News on the capital markets, securities and financial industry
25/01/2012 SIFMA- Other News
More than 200 named managing
directors at Morgan Stanley
Bloomberg (1/24)
Loreley Financing sues
Citigroup over CDO fraud claims
Reuters (1/24)
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Sen. Corker blasts Volcker rule's
government-bond exemption
Sen. Bob Corker, R-Tenn., questioned the proposed
Volcker rule's exemption for government debt. "I don't know why
trading in U.S. Treasurys would be different than buying a [General
Electric bond?" he said. "If you bet the wrong way on a U.S.
Treasury you can lose just as much money as trading a GE bond."
Stanford professor Darrell Duffie released a study on the effect the proposed Volcker
rulewould have on market-making. American Banker (subscription required)(1/24),
MarketWatch(1/24), Bloomberg Businessweek(1/24)
Industry groups remain concerned
about DOL's fiduciary request
SIFMA and other industry groups met with officials at
the Department of Labor to discuss a request from the department
for information related to a proposed fiduciary standard for
brokers. The groups want seeking clarity on the request, but after
the meeting they remained unsure about how much help they can
offer, because of the difficulty of gathering the requested
information. Learn more about a fiduciary standard. AdvisorOne.com(1/24)
FINRA to propose new rules for fixed
income research
The Financial Industry Regulatory Authority plans to
file new rules with the Securities and Exchange Commission to that
deal with conflicts of interest in fixed-income research.
Financial Times(tiered subscription
model)(1/24)
OCC's Walsh warns about
derivatives-market overhaul
John Walsh, acting comptroller of the currency, said
regulators' efforts to revamp the global derivatives market risk a
"vast overreaction." "Lack of understanding feeds misperception,
and derivatives are not particularly well understood, even by some
top policymakers," Walsh said. "I'm not trying to suggest that this
isn't a big market or that it doesn't involve sizable risks, but
the risk ascribed to derivatives is often many orders of magnitude
greater than the reality." Bloomberg(1/24), Risk.net (subscription required)(1/25)
Fed official raises concerns about
rate projects
Charles Plosser, president of the Federal Reserve
Bank of Philadelphia, is concerned that the central bank's new
policy of releasing forecasts about benchmark interest rates might
cause some confusion. He said he is concerned some investors might
consider the projections to be promises. Bloomberg(1/24)
- Other News
Volcker rule should be
reproposed, lawyer says
Reuters (1/24)