More on Economic Security
Robert Schmidt and Michael J. MooreAug 03, 2012 12:00 am ET
Aug. 3 (Bloomberg) -- The trading losses at Knight Capital Group Inc. renewed pressure on Washington regulators to prove they are equipped to protect investors in markets that are increasingly computerized and fragmented.
Whitney Kisling, ©2012 Bloomberg News
Published 01:28 p.m., Thursday, August 2, 2012
(Updates throughout with more details, comments.)
By Suzanne Barlyn
July 25 | Wed Jul 25, 2012 1:22pm EDT
(Reuters) - U.S. House lawmakers on Wednesday introduced legislation that would require certain investment advisers pay fees to help fund adviser examinations conducted by regulators.
Congresswoman Maxine Waters (D-Calif.) today introduced the Investment Adviser Examination Improvement Act of 2012, which would provide the Securities and Exchange Commission (SEC) with the authority to impose and collect user fees on investment advisors for the purpose of increasing the number and frequency of SEC examinations. This bill is co-sponsored by Reps. Barney Frank and Michael Capuano. The Congresswoman's statement on the introduction of her bill is below:
WASHINGTON, July 10 (Reuters) - A fresh burst of scandals, including allegations that major banks tried to manipulate global benchmark interest rates and another case of missing customer funds at a futures brokerage, has raised Washington's ire on both sides of the political aisle.
Today on Capitol Hill, Congresswoman Maxine Waters (D-CA) introduced the TIGER Grants for Job Creation Act. This bill will provide an emergency supplemental appropriation of one billion dollars over the next two years for the Transportation Investment Generating Economic Recovery (TIGER) program, which creates jobs by funding investments in transportation infrastructure. The bill is cosponsored by 36 of her colleagues.
Rep. Maxine Waters sent the letter below to Treasury Secretary Timothy Geithner and Federal Housing Finance Agency (FHFA) Acting Director Edward DeMarco on implementation of the Hardest Hit Fund (HHF) and the latest version of the Home Affordable Refinance Program (HARP 2.0). The letter is sent in response to a recent report by the Special Inspector General for the Troubled Asset Relief Program, which found that HHF, which was funded at $7.6 billion, has only spent 3 percent of its funding.