At a Securities Industry and Financial Markets Association conference last month, the Securities and Exchange Commission’s Division of Trading and Markets acting director John Ramsay said that the regulator will likely consider reworking a 2012 proposal that would establish margin requirements on specific swap trades now that international financial supervisors have established new margin requirements….
Securities and Exchange Commission Seeks Comments Regarding Its ‘Security-Based Swap Rules’ Implementation Plan
Now that the SEC has unveiled its plan via a “statement of general policy ” that lays out how it intends to phase in its new rules that govern security-based swap markets, it is seeking comments. Commenters have 60 days within when the statement is published in the Federal Register to make their thoughts known….
Financial Firms File Securities Fraud Lawsuits Against Each Other Over 2008 Credit and Subprime Crisis
In what one investment banking official is calling a “second wave” of securities litigation stemming from the credit and subprime crisis of 2008, financial firms are now suing other financial institutions for damages. While speaking on a Practising Law Institute panel, Morgan Stanley managing director D. Scott Tucker noted that this “second wave” is the…