09.15.2010
|
Updates
About Us
中文网站
Offices
Careers
Client Advantage
Client Login
09.15.2010
|
Updates
On Friday, September 10, 2010, the SEC announced the approval of new rules submitted by the national securities exchanges and FINRA to expand circuit breaker rules to all stocks in the Russell 1000 Index and certain exchange-traded funds. The SEC originally approved the circuit breaker pilot program in June, but it applied only to stocks in the S&P 500 Index. The SEC also approved new exchange and FINRA rules providing guidance for breaking erroneous trades.
Read the SEC Press Release.
On Sunday, September 12, 2010, the Basel Committee on Bank Supervision announced that the Group of Governors and Heads of Supervision approved "a substantial strengthening of existing capital requirements." These new requirements include increasing the minimum common equity requirement from 2% to 4.5% and mandating a capital conservation buffer of 2.5%, resulting in the total common equity requirements of 7%. These increased capital requirements will be phased in by January 1, 2015. Additionally, a countercyclical buffer within a range of 0%-2.5% of common equity or other fully loss absorbing capital will be "implemented according to national circumstances."
Read the Basel Committee's Press Release.
All of our current and future Financial Reform Act updates will be posted at http://www.perkinscoie.com/thefinancialreformact/
We use cookies on this website to enhance your user experience and to improve the quality of our site. By continuing to use this website, you are demonstrating your consent to the placement and use of cookies as described in our Cookie Policy.