SEC to Examine Fund Disclosure Rules After Archegos Blowup

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SEC to Examine Fund Disclosure Rules After Archegos Blowup

Bloomberg2021-04-22

(Bloomberg) -- U.S. regulators are considering tougher disclosure requirements for investment firms in response to this year’s implosion of Archegos Capital Management and trading gyrations in ...

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LeeYuanKew
·2021-04-22
Bill Hwang is the OG Wall Street bettor!
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Starbucks
·2021-04-22
It is a must! Hope no repeating of history! Banks need to beef up their risk management! [Speechless]
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YH17
·2021-04-22
Please like...
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1
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Shifeng
·2021-04-22
It should be more transparency.
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banchin
·2021-04-22
Wait and see[得意]
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elite
·2021-04-22
Don't do anything
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2
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- 冲冲高:
  Ok
  2021-04-22
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SSVC
·2021-04-22
Long overdue..
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- Starbucks:
  Precisely!
  2021-04-22
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The regulator also faces pressure from Capitol Hill to shed more light on who’s shorting public companies after the GameStop frenzy.\nThe review is in its early stages and Gary Gensler, who took over as SEC chairman last week, will decide how to proceed, the people said. A spokesman for Gensler declined to comment.\nThe SEC is focusing on public documents known as forms 13F and 13D that reveal big stock holdings of hedge funds, mutual funds and family offices. Investment firms that own shares worth at least $100 million must file a 13F detailing their portfolios every quarter, while funds issue a 13D once their stake in a single corporation exceeds 5% -- alerting other investors that they may be pursuing a hostile takeover or the breakup of the company.\nArchegos, which doesn’t appear to have ever filed a 13F or a 13D, used swaps rather than common stock to stealthily amass huge positions, including an estimated $10 billion wager on ViacomCBS Inc. 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The billions of dollars in losses that Archegos triggered for Credit Suisse Group AG and other firms show the consequences of having such blind spots.\n“Current reporting is both too slow and it’s incomplete,” said Andrew Park, a senior policy analyst at Americans for Financial Reform, a Washington-based group that pushes for stringent financial regulations. “Few people knew about Archegos until after it had blown up.”\nMore transparency would be welcomed by business groups that have long argued that investors should be compelled to disclose bets against companies and derivatives that are directly linked to share performance.\nBut hedge funds and activist investors would likely lobby to fend off changes. Such firms claim that having to reveal short positions would make them targets of corporate smear campaigns and deter trading that can expose badly run companies or even frauds. The industry also says more disclosure isn’t necessary because market participants already know the level of negative wagers made against specific companies even if they can’t see who’s making the trades.\nOne thorny issue the SEC is examining is how much legal flexibility it has to revamp rules, some of the people said. Current disclosure requirements are based on equity stakes that give investors the right to vote shares in corporate elections, not complex financial instruments like derivatives or options.\nDemocrats on the House Financial Services Committee are also evaluating whether regulations should be tightened, including by making family offices like Archegos file confidential forms to the SEC that are meant to help identify threats to market stability, a congressional aide said. 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The plan was scuttled late last year amid heavy criticism from public companies.","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":378733841,"gmtCreate":1619059910883,"gmtModify":1704719017406,"author":{"id":"3574805983428726","authorId":"3574805983428726","name":"LeeYuanKew","avatar":"https://static.tigerbbs.com/aa6ccefb04c499ec843ebb0ca258e258","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3574805983428726","authorIdStr":"3574805983428726"},"htmlText":"Bill Hwang is the OG Wall Street bettor!&nbsp;","listText":"Bill Hwang is the OG Wall Street bettor!&nbsp;","text":"Bill Hwang is the OG Wall Street bettor!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/378733841","repostId":2129805122,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":378489676,"gmtCreate":1619055258295,"gmtModify":1704718908529,"author":{"id":"3573818563583937","authorId":"3573818563583937","name":"Starbucks","avatar":"https://static.tigerbbs.com/adf9c30b19f3cc477ca4f1198d2c8b81","vip":1,"hat":"https://static.tigerbbs.com/b073a07f77dbe6b3bec6b12311fde6bd","crmLevel":6,"crmLevelSwitch":1,"idStr":"3573818563583937","authorIdStr":"3573818563583937"},"htmlText":"It is a must! Hope no repeating of history! Banks need to beef up their risk management!&nbsp;[Speechless]&nbsp;","listText":"It is a must! Hope no repeating of history! Banks need to beef up their risk management!&nbsp;[Speechless]&nbsp;","text":"It is a must! Hope no repeating of history! Banks need to beef up their risk management! [Speechless]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/378489676","repostId":2129805122,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":378545485,"gmtCreate":1619052727047,"gmtModify":1704718836033,"author":{"id":"3574221145623189","authorId":"3574221145623189","name":"YH17","avatar":"https://static.tigerbbs.com/f600caf80ccbe52f6a8d46d71da20f19","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"3574221145623189","authorIdStr":"3574221145623189"},"htmlText":"Please like...","listText":"Please like...","text":"Please like...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/378545485","repostId":2129805122,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":378566054,"gmtCreate":1619051115378,"gmtModify":1704718793033,"author":{"id":"3554690739454545","authorId":"3554690739454545","name":"Shifeng","avatar":"https://static.tigerbbs.com/7eba636a69f64b047187455fad28835a","vip":1,"hat":"https://static.tigerbbs.com/f84d87792f02cf78e80ee34979fd31e5","crmLevel":5,"crmLevelSwitch":0,"idStr":"3554690739454545","authorIdStr":"3554690739454545"},"htmlText":"It should be more transparency.&nbsp;","listText":"It should be more transparency.&nbsp;","text":"It should be more transparency.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/378566054","repostId":2129805122,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":378568439,"gmtCreate":1619051111721,"gmtModify":1704718792707,"author":{"id":"3582063342503280","authorId":"3582063342503280","name":"banchin","avatar":"https://static.tigerbbs.com/5c4c72eded6f6ba8a8c66bbf3cd0e90c","vip":1,"hat":"https://static.tigerbbs.com/7b75ce0c34afff716602792a5d0929dd","crmLevel":6,"crmLevelSwitch":0,"idStr":"3582063342503280","authorIdStr":"3582063342503280"},"htmlText":"Wait and see[得意]&nbsp;","listText":"Wait and see[得意]&nbsp;","text":"Wait and see[得意]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/378568439","repostId":2129805122,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":378533691,"gmtCreate":1619049725413,"gmtModify":1704718749433,"author":{"id":"3555312962232191","authorId":"3555312962232191","name":"elite","avatar":"https://static.tigerbbs.com/2601d446a3f18f0e9bf7927e9dc30a0e","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3555312962232191","authorIdStr":"3555312962232191"},"htmlText":"Don't do anything&nbsp;","listText":"Don't do anything&nbsp;","text":"Don't do anything","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/378533691","repostId":2129805122,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4097769,"gmtCreate":1619050701733,"gmtModify":1680785029335,"authorId":3577967326862109,"author":{"id":3577967326862109,"idStr":"3577967326862109","authorId":3577967326862109,"name":"冲冲高","avatar":"https://static.tigerbbs.com/b1bdedaa222e1b8ec019d660176bc827","vip":1,"currentWearingBadge":{"badgeId":"44212b71d0be4ec88898348dbe882e03-3","templateUuid":"44212b71d0be4ec88898348dbe882e03","name":"President Tiger","description":"The transaction amount of the securities account reaches 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overdue..","listText":"Long overdue..","text":"Long overdue..","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/378504792","repostId":2129805122,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4098870,"gmtCreate":1619055292295,"gmtModify":1680785053134,"authorId":3573818563583937,"author":{"id":3573818563583937,"idStr":"3573818563583937","authorId":3573818563583937,"name":"Starbucks","avatar":"https://static.tigerbbs.com/adf9c30b19f3cc477ca4f1198d2c8b81","vip":1,"crmLevel":6,"crmLevelSwitch":1,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":378504792,"type":1,"supId":0,"prevId":0,"content":"Precisely! ","text":"Precisely! ","html":"Precisely! "}],"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":14,"commentSize":7,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}