A plan to extend the corporate bond transparency system to mortgage-backed securities is moving forward, according to an executive slated to speak about the issue late Tuesday.
Joseph Fichera, CEO of the financial advisory firm Saber Partners LLC, said in a report previewing his panel at the Euromoney IMN ABS East conference that the rulemaking process started back in 2007 is now culminating in regulation.
But how and when the information will be made available to all market participants is still unclear, according to the Saber Partners report.
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The approved proposal called for the collection of transaction information ahead of implementation to allow FINRA a chance to study the data prior to determining how to disseminate it.
In other securities market news Tuesday, SEC chair Mary Schapiro was noncommittal when asked at the Securities Industry and Financial Markets Association annual meeting whether she would seek another term after her current one expires in 2014.
Schapiro said she had not considered the question previously as she approaches the job on more of a day-by-day basis. As far as what her long-term thinking is regarding the position, “I don’t have a date in my head or anything like that,” she said.
