June 12, 2001 |
Monument Group Inc. is selling its mutual fund lineup to Orbitex Management Inc. for an undisclosed sum, InvestorForce.com reported Monday, as the shakeout of the Internet stock crash continues to ripple through the fund industry. The stock market's plunge over the last year made continuing operations "increasingly difficult" for Monument, the Bethesda, Md.-based company said in a regulatory filing, according to InvestorForce, a site that reports on fund industry trends.
September 27, 2000 |
The Securities Industry Assn. has joined with the National Investor Relations Institute in asking the SEC to delay new rules designed to ensure that key corporate information is released to all investors at the same time. The SEC's rule, Regulation FD (for Fair Disclosure), was approved by the commission in August, with an Oct. 23 start date.
September 23, 1999 |
The securities industry wants to convert stock price fractions to decimals over three months beginning in July, a trade group said Wednesday. That timetable clarifies when exchanges and securities firms will begin quoting stocks and options in decimal increments instead of fractions, ending a two-century tradition. The Securities Industry Assn. said this "phase-in" will "protect the public and avoid major systems problems." But the task is daunting.
July 14, 1998 |
Wall Street's major exchanges and securities firms Monday began the most ambitious test yet of how well their computers will handle the transition to 2000. The test, sponsored by the Securities Industry Assn., is an attempt to determine the impact of the "millennium bug," which could cause computers that recognize only the last two digits of a year to malfunction or fail. After months of testing their own systems, 12 exchanges and 29 Wall Street firms all set test computers Monday to Dec.
April 26, 1997 |
A rewrite of mutual fund prospectuses to put them in plain English should be voluntary and not mandatory, as federal regulators are proposing, the securities industry says. The Securities Industry Assn. submitted comments Thursday on the sweeping initiative being pushed by the Securities and Exchange Commission to make prospectus documents simpler for investors to understand by using plain English and clearing away technical jargon and clutter.
July 7, 1994 |
SEC, Industry Discuss Derivatives Guidelines: As Congress tries to craft rules to rein in the derivatives business, the Securities and Exchange Commission is discussing voluntary guidelines with six of the nation's largest derivatives dealers. The genesis of the talks is an April letter to the SEC from the Securities Industry Assn., Wall Street's main trade group.