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SEC: Leech charged with cherry picking trades for WAMCO funds

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The SEC has charged Ken Leech with fraud. The bond trader was former co-chief investment officer at Western Asset Management (WAMCO), which holds US$336.1...

SEC rule defining all market makers as ‘dealers’ thrown out

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The US Securities and Exchange Commission (SEC) has had its rule, that would have defined electronic market makers as ‘dealers’, vacated in case tried...

Gensler confirmed to depart SEC

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The Securities and Exchange Commission has announced that its 33rd Chair, Gary Gensler, will step down from the Commission effective at 12:00 pm on...

SEC fines MIMBT $79.8m for overvaluing 4,900 CMOs

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Investment adviser Macquarie Investment Management Business Trust (MIMBT) has been fined US$79.8 million for overvaluing around 4,900 largely illiquid collateralised mortgage obligations (CMOs). The US...

SEC appoints six new Investor Advisory Committee members

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The US Securities and Exchange Commission (SEC) has added six new members to its Investor Advisory Committee.  The new members, who will serve four-year terms,...

Rules & Ratings: Rating agencies hit with US$49 million in SEC...

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The SEC has charged six nationally recognised statistical rating organisations (NRSROs) with failures to maintain and preserve electronic communications. In total, more than US$49...

Do regulators understand ‘best execution’ in corporate bond markets?

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What is best execution in bond markets? In fixed income a best execution process matches up trade metrics to the investment parameters. “Trading is simply how...

ICE begins exchange offer for outstanding unregistered 3.625% senior notes

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Intercontinental Exchange (ICE) has begun the exchange offer for its outstanding unregistered 3.625% senior notes, due in 2028. They will be exchanged with equivalent...

CFTC commissioner voices cost concerns around proposed technical data reporting standards

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Along with a number of financial regulatory agencies, the Commodity Futures Trading Commission (CFTC) has approved a rule proposal to establish technical data reporting...

“Fundamentally flawed […] inadequate”; SIFMA slams SEC’s best execution proposal

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In a recent post from the Securities Industry and Financial Markets Association (SIFMA), former chief economist and director of the Division of Economic and...

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