BizAnalyst Network: 07/01/2010

Gov't to bolster the Property Assessed Clean Energy

Bill would bolster the Property Assessed Clean Energy program

Lawmakers introduced a bill that would prevent mortgage giants Fannie Mae and Freddie Mac from hindering the Property Assessed Clean Energy program. The program allows local governments to sell bonds to help homeowners finance energy-efficient upgrades. Fannie, Freddie and their regulator, the Federal Housing Finance Agency, argued that the program increases risk on the underlying mortgage.

-The Bond Buyer

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Victor Lloyd Smith

Millennium Lyon Asset Management

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SEC to hire 800 new staff

SEC probably will need to add 800 positions,

Mary Schapiro, chairman of the Securities and Exchange Commission, said the agency probably will need to add 800 positions in response to regulatory reform. Schapiro told a House subcommittee that carrying out everything laid out in the bill will be "logistically challenging and extremely labor intensive."

Reuters

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Victor Lloyd Smith

Millennium Lyon Asset Management

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New OTC Derivatives e-Trading & Clearing Platform

Dealers plan to launch an e-trading platform for derivatives

A group of dealers is preparing to launch Javelin, an electronic trading platform for over-the-counter derivatives. The swap-execution facility will gives derivatives users another option for trading privately negotiated derivatives. Javelin, which has been in the works for months, has not formally launched, but it already cleared its first swap.

- The Wall Street Journal/Dow Jones Newswires

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Victor Lloyd Smith

Millennium Lyon Asset Management

Legacy Capital: The Driving Force of the American Dream

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