SEC Plans Could Have Major Impact on Securities and Commodities Industry.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Two developing Security and Exchange Commission (SEC) initiatives - an initiative within agency lending and a portfolio margining initiative - will have a major impact on those involved in the securities and commodities industry, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Grant Thornton LLP's most recent edition of SecuritiesAdviser, a quarterly newsletter that covers trends in the securities and commodities industry. The initiatives and the changes involved are briefly described below: Agency lending initiative * What is the goal? To improve the information flow from agent banks to the brokers who borrow their securities. * Who will it affect? Agent banks, brokers and securities lending Securities Lending When a brokerage lends securities owned by its clients to short sellers. Notes: This allows brokers to create additional revenue (commissions) on the short sale transaction. participants. * What changes will be made? The existing regulatory rules would remain in place, but certain modifications of reporting by the agent banks will help the brokers better comply with the regulations. It will require considerable communication and alterations of the credit and infrastructure operational departments for both agent banks and brokers. Portfolio margining initiative * What is the goal? To establish margins for investment portfolios that will provide U.S. markets with risk-based margin rules, creating many advantages for U.S. markets and investors. * Who will it affect? All participating brokers and eligible investors. * What changes will be made? It will require changes to systems, operations and other infrastructure components. Firms will need to develop and implement written policies and procedures Policies and Procedures are a set of documents that describe an organization's policies for operation and the procedures necessary to fulfill the policies. They are often initiated because of some external requirement, such as environmental compliance or other governmental for portfolio margining. Grant Thornton Assurance Partner Rich Flowers and Business Advisory Services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal Principal Steven Goldberg provide detailed information on each of these initiatives in the latest issue of SecuritiesAdviser, a newsletter distributed by Grant Thornton's national financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. practice based out of New York. To download the latest issue or to sign up to receive your own copy, visit www.GrantThornton.com/SecuritiesAdviser. About Grant Thornton LLP  This article or section is written like an .Please help [ rewrite this article] from a neutral point of view. Mark blatant advertising for , using . Grant Thornton LLP is the U.S. member firm of Grant Thornton International, an accounting, tax and business advisory organization. Through member firms in 112 countries, including 49 offices in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , the partners and employees of Grant Thornton member firms provide personalized attention and the highest quality service to public and private clients around the globe. Visit Grant Thornton LLP at www.GrantThornton.com. |
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