SEC commissioner wants more disclosure
09 May 2014 Washington DC
Image: Shutterstock
Funds should disclose the percentage of assets out on loan and how they split revenue with sponsors, Kara Stein of the US 网爆吃瓜 and Exchange Commission has suggested.
Commissioner Stein delivered a speech to the Council of Institutional Investors on 8 May in Washington DC, in which she pinpointed securities lending as an activity that requires greater disclosure.
鈥淚nvestment company disclosures regarding securities lending activities are also something that we should explore. Shouldn鈥檛 a fund disclose both the percentage of its assets out on loan, and how it splits revenue from securities lending with its sponsor?鈥�
She went on to call for disclosures to be more made 鈥渕ore accessible and useable鈥�.
鈥淚n an era where nearly all data is electronic, it baffles me that such a huge portion of public disclosures are presented in a format that isn鈥檛 structured and easily accessible for analytics.鈥�
鈥淲e should be making sure that as many disclosures as practicable are required to be submitted in useful, structured formats that investors, the public, and the commission can use.鈥�
Commissioner Stein delivered a speech to the Council of Institutional Investors on 8 May in Washington DC, in which she pinpointed securities lending as an activity that requires greater disclosure.
鈥淚nvestment company disclosures regarding securities lending activities are also something that we should explore. Shouldn鈥檛 a fund disclose both the percentage of its assets out on loan, and how it splits revenue from securities lending with its sponsor?鈥�
She went on to call for disclosures to be more made 鈥渕ore accessible and useable鈥�.
鈥淚n an era where nearly all data is electronic, it baffles me that such a huge portion of public disclosures are presented in a format that isn鈥檛 structured and easily accessible for analytics.鈥�
鈥淲e should be making sure that as many disclosures as practicable are required to be submitted in useful, structured formats that investors, the public, and the commission can use.鈥�
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