Paul Atkins, chairman of the U.S. Securities and Exchange Commission, said his agency will propose a rule change
It follows President Donald Trump’s call to end earnings reports on a quarterly basis and switch to semiannual. “I welcome that posting by the president, and I have talked to him about it,” Atkins said on CNBC’s “Squawk Box” Friday. “In principle, I think to propose change in what our rules are now, I think would be a good way forward, and then we’ll consider that and move forward after that.” Earlier this week, President Donald Trump proposed the idea that companies should no longer provide earnings reports on a quarterly basis and switching to semiannual instead. The SEC said the agency is actively looking into that plan. “At President Trump’s request, Chairman [Paul] Atkins and the SEC is prioritizing this proposal to further eliminate unnecessary regulatory burdens on companies,” an agency spokesperson said earlier. Current regulations require companies to report earnings on a quarterly basis, though providing forecasts is voluntary. The rules can be changed by just a majority vote on the SEC, where Republicans currently hold a 3-1 voting majority, with one open seat. Source: CNBC
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From the FT >>>
XTX Markets, Alex Gerko’s money-printing forex high-frequency trading heavyweight, posted a job ad last week for a rolling 12–14 week AI Research Internship with a salary of $35,000 a month + a “generous sign-on bonus”! Admittedly, it’s aimed at a pretty high standard of prospective intern. Candidates are required to be pursuing an advanced degree, “ideally Ph.D., in computer science, electrical engineering, mathematics, or a related quantitative field” with at least a year until their graduation. They also need “solid” programming skills and “a proven publication record in leading machine learning and AI venues”. But still, it looks like the race for super-star interns keeps getting fiercer Source: FT Link to article >>> https://lnkd.in/gWeCPJK7
The U.S. Justice Department has launched a criminal mortgage fraud probe into Federal Reserve Governor Lisa Cook
It has issued grand jury subpoenas out of both Georgia and Michigan, according to documents seen by Reuters and a source familiar with the matter. The investigation followed a criminal referral from Federal Housing Finance Agency Director Bill Pulte, and is being conducted by Ed Martin, who was tapped by Attorney General Pam Bondi as a special assistant U.S. attorney to assist with mortgage fraud investigations involving public officials, along with the U.S. Attorneys' offices in the Northern District of Georgia and the Eastern District of Michigan, according to the person, who spoke anonymously since the matter is not public. Source: Reuters
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