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"Sea Change" Created in SEC Exams by New Quant Analytics Unit: (Dec 4) A SEC unit whose members include a former computer game developer and a rocket scientist leveraging quantitative analytics to strengthen the agency's examination and enforcement efforts as it pushed to keep pace with advances such as high frequency trading based on algorithms. Read more.
Regulated Markets, Risks, Liquidity Concerns Persist Says OFR: (Dec. 2) Fire sales and risk-taking threaten stability, according to the annual report to Congress from the U.S. Treasury Department's Office of Financial Research. The Treasury's OFR pointed to "vulnerabilities associated with declining market liquidity, and the migration of financial activities toward opaque and less-resilient corners of the financial system." Read more.
MSRB to Accept Disclosures in EMMA Service on Muni Asset-Backed Securities: (Dec. 1) The Municipal Securities Rulemaking Board announced the effectiveness of a change to its Electronic Municipal Market Access ("EMMA") service that will add disclosures related to municipal asset-backed securities required under 1934 Securities Exchange Act Rule 15Ga-1. Read the Regulatory Notice.
ESMA Seeks Comment on Guidance for Segregating Alternative Investment Assets: (Dec. 1) The European Securities and Markets Authority published proposed guidelines on the asset segregation requirements when safe-keeping duties are delegated by the depository of an alternative investment fund (AIF") under the Alternative Investment Fund Managers Directive. Read more.
EU Regulators' New Insurance Regime on Track for 2016 After Stress Tests: (Dec. 1) New EU insurance framework known as Solvency II is on track after stress results indicated that most companies would survive a severe scenario. Will likely lead to balance sheet changes for companies in the run up to 2016. Read more.
This is not an all-inclusive list of congressional, agency and market participant actions related to these issues. It is a snap-shot of what we believe is of most interest to institutional investors. Some links are to subscriber-only sites.
Be sure to check our website for this InReview, upcoming events, and all our INVESTORS updates. www.association.institutionalINVESTORS.org
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