Turf battle. MarketWatch speculated on the possible reaction of Daniel Gallagher, Commissioner of the US Securities and Exchange Commission (SEC), to remarks made by Stanley Fischer, the US Federal Reserve Board Vice Chair who has called for more regulation of the asset management industry, for which the SEC is the principal regulator. (3/27/2015) Turf battle.
US Treasury asked to help resolve cross-border swaps issue. According to theWall Street Journal, US Senator Pat Roberts has asked Jacob Lew, US Secretary of the Treasury, to help resolve differences between how the European Union and the US Commodity Futures Trading Commission (CFTC) regulate derivative clearinghouses. (3/26/2015) Request.
Legislation ending “too big to bar” introduced. US Representative Maxine Waters has introduced a bill requiring the SEC to employ more stringent standards when it considers whether to waive an administrative disqualification from participation in certain securities activities after a respondent has been subject to an enforcement action. (3/24/2015) Waters press release.