U.K. firms offering retail investment products will from this coming week be able to tell clients about their services using a new form.
A Securities Industry and Financial Markets Association committee has raised concerns over an International Securities Exchange plan to define and regulate professional account holders.
Luis Aguilar was sworn in Thursday as a commissioner of the Securities and Exchange Commission.
The Second U.S. Circuit Court of Appeals reversed the convictions of Michael Hayward and Michael Stern, formerly specialists at Van der Moolen Specialists USA, for alleged improper trading at the New York Stock Exchange. “We are thrilled with the result and pleased that the Court of Appeals agreed that Mr. Stern should be cleared of all charges,” said a lawyer for Stern. “Mike Hayward is very happy to have been vindicated,” said Hayward's attorney. (Wall Street Journal)