SEC Chairman Sets Goals for Summer

In a speech June 12th in Washington DC to the Chartered Financial Analyst Institute Conference on Next Generation Asset Management, SEC Chairman Christopher Cox informed audience members  on upcoming issues and items to be addressed by the SEC this summer.  He stated that he expected the commission to soon consider rules on equity-indexed annuities and when those are traded as securities.  The SEC is working closely with NASAA (the North American Securities Administrators Association) and their state securities counterparts on this issue, he said.  Further, Chairman Cox noted that we can expect quick action on a proposal for new interpretive guidance on soft dollars, and to expect the SEC to consider, this summer, among other things:  a final principal trading rule for both broker-dealers and investment advisers, new interpretive guidance for both broker-dealers and investment advisers, as well as the adoption of amendments to Regulation S-P relating to account intrusions.