Open letter to Securities and Exchange Commission calls for greater transparency and information access - silence causes uncertainty around the globe

(PresseBox) ( Berlin, )
Enterprise Content Management meets Mary L. Schapiro. German software solutions are highly respected all over the world for their ability to improve efficiency. As a hearing before the Senate revealed, an efficiency boost is something America's Securities and Exchange Commission is in urgent need of. Chairman Mary L. Schapiro is now receiving assistance from Germany to help her win the technological catchup race.

ECM Allianz Deutschland is offering practical support to the Securities and Exchange Commission (SEC) under the motto 'German efficiencyboosting software solutions are world class'. The offer was triggered by the 'flash crash' of May 6, 2010, in which the Dow Jones Index fell by nearly 1000 points shortly before the close of trading. So far, the SEC has been unable to explain what caused the stock market to plunge.

This is no surprise, given that one of the two watchdogs responsible still receives all its exchangerelated data by fax and then enters it into its systems by hand. It remains to be seen how Chairman Schapiro will react to the offer of help.
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