According to a recent article, the SEC budget request will seek money for 250 new investment advisor examiners. The SEC has more IAs to examine than public companies, 11,000 vs 8,000. According to sources quoted in the article, under current processes the SEC would really need almost 2,000 additional examiners. It is not going to get them. Continue reading SEC: More Examiners or More Automation?
It used to be that customers at a brick and mortar bank, or visiting the office of a broker, would see badges from the FDIC or SIPC that gave a sense of trust to the institution. These badges, as well as e-Trust badges, migrated to the internet. They said to customers, “Your money is safe, your transactions are secure.” Post 9-11, post the financial crisis, however, confidence has nonetheless declined. Continue reading Communicating Trust: the Badge is not Enough
Recent announcements of changes coming to the Accounting and Transparency Directives of the EU set a timeline for electronic reporting of financial data in a format such as XBRL. This is great news. Congratulations to all that have worked hard to make this happen. Continue reading XBRL mandatory reporting in the EU by 2020