SEC Names Dalia Blass as Director of the Division of Investment Management
The Securities and Exchange Commission today announced that Dalia Blass has been named Director of the agency's Division of Investment Management. The SEC's Division of Investment Management works to protect investors and to promote capital formation and innovation in investment products and services through oversight and regulation of the nation’s multi-trillion dollar investment management industry. The Division is responsible for the Commission's regulation of investment companies, variable insurance products, and federally registered investment advisers. "Dalia's years of service here at the SEC and extensive experience in the private sector will make her a valuable asset to the agency and the…
Read MoreSEC and NYU to Host Forum on Exchange-Traded Products
The Securities and Exchange Commission and New York University will host a forum in September to examine the fast growing market for exchange-traded products and its implications for investors. The event, hosted by SEC’s Division of Economic and Risk Analysis and NYU’s Salomon Center for the Study of Financial Institutions, will bring together regulators, industry members, and academics for a half-day dialogue on September 8. It will kick off with welcoming remarks by Commissioner Michael Piwowar at 9:15 a.m. and conclude following remarks by Commissioner Kara Stein at 1:00 p.m. Since the first exchange-traded product (ETP) was introduced in 1993,…
Read MoreFormer Pharma Company Accountant, Three Others Charged With Insider Trading
The Securities and Exchange Commission today charged an accountant and three others with insider trading on market-moving news about the New Jersey-based pharmaceutical company where the accountant formerly worked. The SEC's complaint, filed in federal court in New Jersey, alleges that Evan R. Kita, a CPA and former accountant at Celator Pharmaceuticals Inc., tipped two of his friends with confidential information about the clinical trial results for Celator’s cancer drug and its acquisition by Dublin-based Jazz Pharmaceuticals Plc almost three months later. Celator's stock rose more than 400 percent in March 2016 when it announced positive results for its drug…
Read MoreSEC Monitoring Market Impact of Hurricane Harvey
The Securities and Exchange Commission is closely monitoring the impact of Hurricane Harvey on investors and capital markets. Chairman Jay Clayton has mobilized agency resources to assist affected investors and market participants. "Our thoughts and prayers are with the millions of people in Texas and Louisiana affected by Hurricane Harvey," said Chairman Clayton. "Agency officials have been and will remain in close communication with market participants and key market infrastructure providers, as well as the Financial Industry Regulatory Authority and other regulators concerning the storm and its aftermath. We are also actively working with firms in affected areas to ensure that investors continue…
Read MoreFee Rate Advisory #1 for Fiscal Year 2018
The Securities and Exchange Commission today announced that in fiscal year 2018 the fees that public companies and other issuers pay to register their securities with the Commission will be set at $124.50 per million dollars. The securities laws require the Commission to make annual adjustments to the rates for fees paid under Section 6(b) of the Securities Act of 1933 and Sections 13(e) and 14(g) of the Securities Exchange Act of 1934. The Commission must set rates for the fees paid under Section 6(b) to levels that the Commission projects will generate collections equal to annual statutory target amounts. …
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