iif statement October 21, 2007
Posted by Bradley in : self-regulation , add a commentToday the Institute of International Finance made an announcement:
..the IIF’s Board of Directors is launching a major initiative to refine best practices for market participants. Our Board brings together leaders of some of the largest financial institutions from across the globe who are committed to this initiative.
The Board is establishing a committee to produce recommendations by the Spring of 2008 that reflect the views of leaders of our industry and that can enjoy strong support from financial services firms across the world and that complement efforts underway by the official community.
The committee’s agenda will concern a variety of key aspects of important issues, including those relating to structured products, comprising:
* Risk management, credit underwriting practices, and pricing of risks;
* Conduits and the contingent liquidity risks that firms have been exposed to by using off-balance sheet instruments;
* Valuation questions, especially where markets are thin or absent;
* Ratings – interpreting and evaluating them; and,
* Transparency, disclosure and communications to define appropriate standards.
boston stock exchange September 5, 2007
Posted by Bradley in : self-regulation , add a commentSEC Press Release: SEC Charges Boston Stock Exchange and Former President James Crofwell With Failing to Police Specialists:
The Commission’s Order against the Exchange and Crofwell finds that the Exchange’s failure allowed hundreds of violations per day to go undetected even after the Commission staff had repeatedly warned the Exchange it needed to improve its surveillance systems.