Partner
Norton Rose Fulbright US LLP
Steven Lofchie is a Partner based in New York. He advises financial institutions and corporate clients on the securities laws and the Commodity Exchange Act, with particular focus on the regulation of broker-dealers, swap dealers, investment funds and other market intermediaries. Steven's transactional practice focuses on securities credit and derivative transactions.
Recent Articles & Comments
At least Europe and the United States have something in common.
It is great that the SEC is conducting empirical studies on the way that changes in regulations affect the markets. Unfortunately, there is really not any great reason for the SEC to have conducted this particular study. See, e.g., . Congress might have directed the SEC to seek broader public comment on studies that might be informative. One worth looking at would be on the "trade at" rule; i.e., that a broker-dealer cannot execute a trade…
It is great that the SEC is conducting empirical studies on the way that changes in regulations affect the markets. Unfortunately, there is really not any great reason for the SEC to have conducted this particular study. See, e.g., . Congress might have directed the SEC to seek broader public comment on studies that might be informative. One worth looking at would be on the "trade at" rule; i.e., that a broker-dealer cannot execute a trade internally if it merely trades at the public market…
This hearing sets the groundwork for more focused attention by the SEC and for a broad range of comment from issuers and investors.