Unhappy Anniversary of the Flash Crash
> Jim McTague explains why this is the unhappy anniversary of the flash crash: From Jan. 1 through April 30, 2010, investors put $668 million into stock funds, says the Investment Company Institute, the mutual-fund trade group. By the end of 2010, they had withdrawn about $96 billion. In 2011, there were $135 billion in...
Happy 2nd Anniversary, Flash Crash of 2010 !
Joseph Saluzzi (jsaluzzi-at-ThemisTrading.com) and Sal L. Arnuk (sarnuk-at-ThemisTrading.com) are co-heads of the equity trading desk at Themis Trading LLC (www.themistrading.com), an independent, no conflict agency brokerage firm specializing in trading listed and OTC equities for institutions. Prior to founding Themis, Sal and Joe worked for more than 10 years at Instinet Corporation, pioneers in the...
World’s 10 Strongest Banks (by Nation)
“When the crisis erupted, we realized we had stuck to a fairly basic rule, which was that the bulk of Tier 1 capital had to be in equity. That turned out to be very, very important.” -Jamie Dickson, Superintendent, OSFI (Canada’s bank regulator) > Bloomberg Markets has a list of the world’s strongest banks —...
Regulatory Reform since the Financial Crisis
Regulatory Reform since the Financial Crisis Governor Daniel K. Tarullo At the Council on Foreign Relations New York, New York May 2, 2012 As everyone present today knows, the process of post-crisis financial regulatory reform has been elaborate and extended. Numerous rulemakings, most involving multiple agencies and many quite complex, are required to implement...
Lobby Group Pushes Regulators To Amend FATCA
The Private Equity Growth Capital Council is urging changes to the Foreign Account Tax Compliance Act.
Dodd-Franking, to date
April 2012 was a pretty big month in Dodd-Frank Act rulemaking; the SEC and CFTC agreed how to define “swap dealer”, “major swap participant”, et al. under...
Strike when the Iron is Hot
Just a quick note. As you've probably figured out, I am at the Milken Global Conference and it's interesting how much financial reform has faded from the agenda. Two years ago, many, many sessions were devoted to how the financial...
GPs, With An Eye On Fundraising, Wake Up To Bribery Risk
- ATTA KENARE/AFP/Getty Images
The Clean Water Act Worked
Pollution levels off the California coast have dropped significantly since the passage of the Clean Water Act (i.e., contra Repulicans, government is not always the problem): First evaluation of the Clean Water Act's effects on coastal waters reveals major successes,...
9 Biggest Banks = $228.72 Trillion in Derivative Exposure
Via Demonocracy, we see this basic take on derivatives: A derivative is a legal bet (contract) that derives its value from another asset, such as the future or current value of oil, government bonds or anything else. Ex- A derivative buys you the option (but not obligation) to buy oil in 6 months for today’s...
Hong Kong’s new SFC Chief Flexes Muscles
Hong Kong’s new securities watchdog chief is showing that he means business when it comes to doing initial public offerings the right way.
