SEC warns financial advisers and investors about
social media
The Securities and Exchange Commission issued two alerts, one to
financial advisory firms and the other to investors, concerning the
risks of using social media. Advisers were told how firms using
social media can comply with record-keeping, compliance and
anti-fraud requirements of U.S. securities law. Get the latest
information you need on social media strategies and practices at
SIFMA's Social Media Seminar, February 3.
PlanAdviser.com(1/5), Reuters(1/5), InvestmentNews (free registration)(1/5)
Bill on AMT could boost demand for private-activity
bonds
Reps. Scott Garrett, R-N.J., and Nita Lowey, D-N.Y., introduced a
bill that would exempt middle-class taxpayers from the alternative
minimum tax, which could help drive demand for private-activity
bonds. Michael Decker, a managing director and co-head of the
municipal securities division at SIFMA, said the bill could provide
certainty about the AMT. "If the AMT doesn’t get re-patched or
fixed permanently, those PAB issuers will face a constrained market
when they try to issue debt," Decker said. The Bond Buyer (special access for readers of SIFMA
SmartBrief)(1/5)
EU lawmaker aims to ensure level regulatory playing
field
Othmar Karas, a leading EU lawmaker, said European banks might not
have to comply with Basel III rules on capital and liquidity if the
U.S. delays implementation. Karas wrote a report about the
implementation of Basel III that notes a number of changes that are
expected to be controversial. Reuters(1/5)
Regulator approves CBSX takeover of
NSX
The Securities and Exchange Commission approved CBOE Stock
Exchange's proposed acquisition of the National Stock Exchange. The
CBSX, which is owned in part by the Chicago Board Options Exchange,
agreed to acquire the NSX in September. The Wall Street Journal(1/5)
