Opalesque Exclusive: SEC willing to reconsider the proposed ban if FINRA could implement rules to check 'pay to play' activities
Monday, February 08, 2010
From Sagar Chakraverty, Opalesque Asia:
According to a letter sent by Andrew Jr. Donohue, Director of US' Securities and Exchange Commission (SEC) to Richard G. Ketchum, Chairman & CEO of the Financial Industry Regulatory Authority (FINRA) on 18-Dec-09, the SEC indicated that an exception to the ban for registered broker-dealers acting as legitimate placement agents might be feasible if FINRA were to implement rules that would prohibit 'pay to play' activities by those persons (see letter here).
This issue has received a lot of publicity, Donald A. Steinbrugge, managing member of ......................
From the Opalesque team:
Paris-based Algodeal, a quant platform founded by IT professionals Benjamin Filippi (formerly at Lehman) and Jean-Christophe Allemand (formerly at Newedge), will launch its first fund towards the end of 2Q1