We will defend against the claims asserted in them vigorously and the trades at issue did not violate any rule regulation or statute".
But there is another reason for the volatility: the new Securities and Exchange Commission rule, Regulation FD, which is supposed to help the small investor.
That amendment, which legislative aides said was backed by Morgan Stanley, stated that no law, rule, regulation, order, administrative action, judgment, consent order or settlement agreement shall be imposed by any state on people subject to S.E.C. rules.
The proposed amendment says no law, rule, regulation, order, administrative action, judgment, consent order or settlement agreement shall be imposed by any state on people subject to Securities and Exchange Commission rules.
In any case, the party's over now, thanks to the market's swoon and to a new S.E.C. rule, Regulation FD, which effectively prohibits companies from telling analysts anything in private that they aren't also disclosing to the public.
The United States attorney in Manhattan, James B. Comey, would not comment on the specific cases, but said generally of the government's tactics: "I don't see any violation of any rule, regulation, or law.
11.07am BST Rules, regulations and whatnot..
He launches into a farrago of rules regulations admonitions prohibitions.
There are rules, regulations, mandates and laws to consider.
And so they're accepting that monotony – hours, rules, regulations – for something greater".
But last year, the Federal Register published 74,258 pages of rules, regulations and other documents, a record.
