The NASD announced today a fine on HSBC Securities for not providing “best execution” to their retail clients for US Treasury trades.
From the NASD release, “In addition, the firm routed orders to HSBC Securities (HSI), an affiliated firm, without taking adequate steps to ensure that customers would not be harmed in the pricing of […]
Oh where oh where did all the equity hyping go??? From an extract in Institutional Investor magazine (page 2):
“When the ’90s bubble burst, of course, regulators took aim at malign industry practices (investment banks hyping equities they have underwitten) by promulgating a host of reforms, from the SEC’s Regulation Fair Disclosure, implemented in October 2000, to rules that […]
Article in Venture Beat about person-to-person Lending Club launching their platform on Facebook…
How the company describes itself… “Lending Club is an online lending community where people can borrow and lend money, bypass the banks, and get better rates. By working together, members can borrow money more easily and at a better rate than they would […]
Fitch Ratings-New York-23 May 2007: Fitch Ratings commends the work of the U.S. Securities and Exchange Commission (SEC) as the new rules adopted by the SEC enacting the Rating Agency Reform Act of 2006 will foster greater competition, transparency and innovation in the ratings industry. While the new rules remove regulatory barriers to entry and […]
Congratulations to the sixth firm to be registered as a “Nationally Recognized Statistical Ratings Organization”. The Japanese firm, Rating and Investment Information, was founded in 1975.
From the firm’s release:
“R&I welcomes the SEC staff’s decision to grant R&I this important recognition. “We believe recognition of R&I as an NRSRO is an important step toward improving the […]
More bonds to list on the NYSE Bonds platform… wonderful…
The SEC Commissioners approved the Final Rules for Nationally Recognized Statistical Ratings Organizations (NRSROs) today in a 5 - 0 vote. The precise details of the Rules are still being finalized and will not be published in the Federal Register for a several working days.
Based on the webcast of the Commission’s discussion several key points were […]
Virgin eyes US peer-to-peer loan market…
Richard Branson’s Virgin Group has taken a majority stake in Massachusetts-based CircleLending, a provider of loan administration services that specialises in managing loans between relatives and friends. The investment will form the foundation for a new Virgin-branded financial services offering in the US.
http://uk.virginmoney.com/
Lots of heat on Moody’s Ratings and the other agencies about the difference between their taxable and non-taxable ratings scale….very long article in Bloomberg. From the article:
“Standard & Poor’s and Fitch Ratings, Moody’s New York-based competitors, also assign ratings to tax-exempt debt that may exaggerate the risk of default. Moody’s is the one under fire because its new dual-rating […]
Wonderful news from NYSE Bonds…
During June, the NYSE will launch a bond-information site at http://www.nyse.com/bonds that will provide 20-minute delayed bond-price quotes as well as a look at the market for individual bonds. The site will contain listings of all available bonds and give users the ability to search the inventory, based on criteria such […]
