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SEC Starts Going After ETFs... With A Job Search For Someone Who Actually Knows What An ETF Is
Yesterday we reported that following the SEC's long overdue porn-laced sabbatical, the "regulator" has launched a massive fact-finding and enforcement-information gathering mission to not only curb those vile HFT frontrunners, but is also seeking to cut off momentum accentuating strategies such a ETFs, aka synthetic stock CDOs, at the knee. This is great, there is only one problem: the SEC has no clue what an ETF is. But all that is about to be remedied. As the attached job search notice indicates, the regulator will generously spend between $126,661 and $198,333 of taxpayer money to finally get someone who actually knows something about basket creation, gamma, convexity, and the 3:30pm daily ETF-induced market ramp. The preamble: "Do you want to perform challenging work in a collegial environment, while enjoying quality of life and a competitive compensation package? Invest in your career at the U.S. Securities and Exchange Commission (SEC)!" Note: not one mention of non stop midget porn: truly a politically correct development. And since the position is for a senior special counsel, you can bet, lots and lots of money, that the SEC is about to start suing everyone in the ETF space. Starting with such Wall Street visionaries as Larry Fink... who also happens to run Wall Street. We just can't wait.
Job Title: Sr. Special Counsel (Exchange Traded Fund Specialist) 0905-16
Agency: Securities & Exchange Commission
Job Announcement Number: 11-523071-DQ-FS
SALARY RANGE: |
$126,661.00 - $198,333.00 /year |
OPEN PERIOD: |
Wednesday, August 17, 2011 to Friday, September 09, 2011 |
SERIES & GRADE: |
SK-0905-16 |
POSITION INFORMATION: |
Full Time Excepted Service Permanent |
DUTY LOCATIONS: |
1 vacancy - Washington DC Metro Area, DC; 1 vacancy - New York City, NY |
WHO MAY BE CONSIDERED: |
United States Citizens |
JOB SUMMARY:
|
Do you want to perform challenging work in a collegial environment, while enjoying quality of life and a competitive compensation package? Invest in your career at the U.S. Securities and Exchange Commission (SEC)!
The Securities and Exchange Commission (SEC) has retained Futurestep, a Korn/Ferry Company to provide strategic talent acquisition solutions to help the agency address its continuing talent needs. The SEC's mission is to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation. The agency seeks high-caliber professionals who share the same values of integrity, fairness, accountability, resourcefulness, teamwork, and commitment to excellence. The SEC offers a number of exceptional enhanced pay and benefits plus the standard Federal benefits: |
|
KEY REQUIREMENTS:
|
Duties
The Division of Investment Management oversees and regulates the $1.5 trillion investment management industry and administers the securities laws affecting investment companies, including mutual funds, and investment advisers. In applying the federal securities laws to the industry, the Division works to improve disclosure to and minimize risk for investors without imposing undue costs on regulated entities.
Duties:
As Senior Special Counsel to the Associate Director (Exemptive Applications) in the Division of Investment Management, the incumbent assists the Associate Director in formulating policy generally concerning a wide range of matters, but with a particular focus on the regulation of exchange-traded funds ("ETFs") registered under the Investment company Act of 1940. Directly engages in and oversees the gathering, analysis, compilation, and evaluation of information and the development of finding and recommendations for projects for which he/she is responsible and develops policy sensitive material, rules and interpretations relating to ETFs.
Provides expert research, analyses and advice to the Division and Commission on complex and unusual applications for exemptive relief relating to ETFs under the 1940 Act and on complex and unusual market structure issues as relevant to the use and development of ETFs. Directly engages in and oversees the initiation, design, order and direction of special research projects and studies designed to suggest appropriate regulatory policies generally and with a particular focus on ETFs, including necessary statutory provision, rules, and forms, to further investor protection and to refine the regulatory system to eliminate duplication of effort and to reduce costs and burdens.
Drafts or oversees preparation of written interpretations to the industry or the public with regard to the application of various provisions of the securities laws, rules, and regulations thereunder, or the financial plans and other actions proposed by investment companies, including ETFs, and investment advisers. Analyzes, or oversees the analysis of, legal memoranda and reports prepared by the staff of the various divisions and offices, as such documents may affect the incumbent’s program responsibility, and provides the Associate Director and other senior Division officials with recommendations on proper courses of action. Keeps cognizant of current legal developments and trends in the Commission work to inform the Associate Director and present his/her own conclusions as to the possible effects on Commission programs as they pertain to the regulation of investment companies, particularly ETFs, and investment adviser. Supervise attorneys and other in matters that are incumbent’s responsibility.
Qualifications and Evaluations
QUALIFICATIONS REQUIRED:
All qualification requirements must be met by the closing date of this announcement. Qualifying experience may be obtained in the private or public sectors. Qualifying education must have been obtained from an accredited college or university recognized by the Department of Education. Additional information on the qualification requirements is outlined in the OPM Qualifications Standards Handbook of General Schedule Positions. It is available for your review in our office, in other Federal agency personnel offices, and on OPM's web site at http://www.opm.gov/qualifications.
Requirements:
All qualification requirements must be met by the closing date of this announcement. Qualifying experience may be obtained in the private or public sectors. Must possess a J.D. degree and be an active member of the bar in good standing in any state, territory of the United States, the District of Columbia, or the commonwealth of Puerto Rico. Applicants for the SK-16 level must have four or more years of post J.D. work experience as a practicing attorney. Experience must include specialized securities-industry experience with particular focus on the regulation and operation of exchange traded funds (ETFs); demonstrated senior-level legal knowledge and skill to apply relevant regulation, principles, decisions, statutes, and case law to specific issues or problems; and experience as a senior level adviser to lower-graded attorneys. FACTOR: Knowledge of the federal securities laws administered by the Commission and the rules and regulations thereunder and experience with the operations and regulation of investment advisers and investment companies in general and exchange traded funds (ETFs) in particular. FACTOR: Ability to exercise sound judgment and analytical ability in dealing with novel legal issues. FACTOR: Ability to produce timely, concise, accurate, and persuasive legal arguments. FACTOR: Ability to communicate effectively in performing leader work. PLEASE APPLY FOR THIS ANNOUNCEMENT THROUGH THE FOLLOWING LINK: http://sec.futurestep.com/Opportunities/KC242
Information for preference eligible veterans: Generally, preference is granted to veterans who entered military service prior to October 14, 1976; or served on active duty during the period from August 2, 1990, through January 2, 1992, and who are otherwise eligible; or who served on active duty during the period beginning September 11, 2001, and ending on the last day of Operation Iraqi Freedom; or who have served in a military action for which they received a Campaign Badge or Expeditionary Medal. This includes the Armed Forces Expeditionary Medal (AFEM) awarded to those who participated in Operation Joint Endeavor or Operation Joint Guard. Also, you may be entitled to veterans' preference if you are a disabled veteran; you have received a Purple Heart; you are the spouse or mother of a disabled veteran; or you are the widow, widower, or mother of a deceased veteran. You will need to submit a Standard Form (SF) 15 and proof of your claim.
HOW YOU WILL BE EVALUATED:
This position is opened to all U.S Citizens and is being filled through U.S Securities and Exchange Commission's Excepted Service Hiring Authority (ESHA). All applicants who meet the basic qualification requirements will be forwarded for consideration.
Once the announcement closes, your application will be automatically evaluated by the system and a Human Resources Specialist. To determine if you are qualified for this job, a review of your application and supporting documentation will be made and compared against your responses to the occupational questionnaire. Please follow all instructions carefully. Errors or omissions may affect your eligibility.
Benefits and Other Info
BENEFITS:
The Federal Government offers a comprehensive benefits package. Explore the major benefits offered to most Federal employees at http://www.usajobs.gov/EI/benefits.asp.
OTHER INFORMATION:
The SEC provides reasonable accommodations to applicants with disabilities. If you need a reasonable accommodation for any part of the application and hiring process, send an email to DisabilityProgramOfficer@sec.gov. To request sign language interpreting services for interviews, send an email to SECInterpreter@sec.gov at least 5 business days before the date you will need this service. To contact the Disability Program Office by phone, call 202-551-4158.
TTY/ASCII users should use the toll free Federal Relay Service number: 1-800-877-8339 and provide the SEC number of the office or individual you are calling. For more information about using the Federal Relay Service see: http://fts.gsa.gov/frs/tollfree.htm.
REQUIRED DOCUMENTS:
All materials must be received by 11:59 p.m. EST on Friday, September 09, 2011 to be considered.
Please read all instructions before you begin. You are solely responsible for the delivery of your materials. We cannot be responsible for incompatible software, illegible fax transmissions, delays in mail service, etc. Your materials will not be returned; therefore, do not submit original documents that you may need in the future (upload these documents from your files or submit copies instead).
AGENCY CONTACT INFO:
Tamika Cambridge
Phone: (713)285-2541
Fax: (713)583-1533
Email: CAMBRIDGET@SEC.GOVAgency Information:
Office of Human Resources
100 F Street NE
Washington, DC 20549
Fax: (713)583-1533
WHAT TO EXPECT NEXT:
This position is opened to all U.S Citizens and is being filled through U.S Securities and Exchange Commission's Excepted Service Hiring Authority (ESHA). All applicants who meet the basic qualification requirements will be forwarded for consideration.
Once the announcement closes, your application will automatically be evaluated by the system and a Human Resources Specialist. To determine if you are qualified for this job, a review of your application and supporting documentation will be made and compared against your responses to the occupational questionnaire. Please follow all instructions carefully. Errors or omissions may affect your eligibility.
h/t Matthew
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free porn
Apply, bitchez.
Why apply as when you show them the massive fraud, the SEC will fire you and then run and hide under the 'systemic risk'... thus no one gets prosecuted or goes to jail. It is a 'loser' job doomed to fail.
....or shred evidence of committed crimes...
YES FREE PORN!
BUT!!!!
You must first PASS THE 2 TESTS TO GET THE JOB!!!
Test 1 : you'll get a Hat. The first one who is able to pull out a 1 kilo silver bar, a 1 kilo gold bar AND A HORSE FROM THAT HAT!!! Can go on to the second test.
Test 2: EXPLAIN TO THE HORSE HOW YOU DID IT SO HE CAN DO IT TO!!
IF you can do that, YOU'VE GOT THE JOB!!! AND ALL THE MONEY YOU CAN PRINT!!
for real...I didnt think they were into sawed-off (aka midget) porn...thought it was either beastiality or child porn with a dab of rape.
Silly me.
You better give the fucker a huge 2tb hard drive...he's gonna need it!
System as we know it, Is Being Trashed.
Do you get to carry a gun?
Disclaimer: 'could get whacked'
or run down by a BBB (Big Black Benz).
Each applicant will require a reference from either JPM or HSBC
Preferrential treatment for Goldman employees who have changed their names. Did it say anything about not being paid by Goldman while working for the government?
"New York prosecutors are widening their probe into the manner in which Goldman Sachs marketed certain mortgage-linked securities before the financial crisis, the Wall Street Journal reported, citing people familiar with the matter."
http://www.reuters.com/article/2011/09/07/goldmansachs-idUSL3E7K706U2011...
+57 million
http://www.bloomberg.com/news/2011-08-31/ex-goldman-exec-joined-sec-afte...
Hunger and thirst for righteousness indeed...
no capitol gains tax,sweet
Could everyone at ZH please not apply? I really need this job.
The wolves are at 'ol Gils door!
I've been LOLing so hard that I literally fell off of my chair. Need to be careful with these ZH articles no longer about finance, but very much about comedy.
I agree, the clarity with which ZH presents the bread and circuses is excellent. Still amazed that the site hasn't been taken down yet.
My Welsh grandfather would always knock on a piece of wood when he would make a comment like that.
"The land of race car ya-yas... the land where you can't change lanes... where large fuzzy dice still hang like testicles from rear view mirrors... the land of race car ya-yas"
some of your readers are midgets.. and enjoy "pornography for dwarfs"
Midget porn...that's one I haven't tried yet...thanks for the tip.
Old school.
Apparently thighbrows are hot where you live?
Dude, those have to be the biggest set of anal beads I ever saw in my life.
For real
That's fairly nasty 'bro. Had to take my soft boiled eggs back to the kitchen.
You'd expect gravity to have less of a impact on a midgets tits right?
You dated yourself by your choice of childhood porn!
I am can make fun of you.. becuase we are in the same age bracket.
thanks for the flash back!
my best to You and Yours.. as always!
Wow Hedgeless, that has to be in the poorest taste imaginable. Your karma just took a huge nose-dive.
A naked, pregnent tribal, with something clearly sacred, symbolic in her hand is old school midget porn to you.
Now you can see why you and your ilk are so screwed. So screwed.
Pity.
V
And so the wheel turns
Naked? She is fully clothed for a Pygmy.
Pregnant? Distended bellies more often indicate malnutrition in her population.
Sacred? That's looks like either a chocolate dipped DQ cone or a dildo in her hand.
Karma? I don't believe in it, and I just took a heifer to the butcher last week. Maybe someone you knew?
Besides, I thought you injuns believe the photographer steals the soul, not the blogger that posts the image.
Old school? Indeed, times were tough for horny kids before the Internet.
The ETF's need to ban together and take a stand against this obvious infringement of the circle jerk.
hehehe
My lawnguy makes more than that.
muhahahahaaaa!
senior what again?
Your lawn mower makes $200,000 a year? Take a hike clown.
large yards out here sheep.
Professional Lawn Care is a very profitable business. It's not like the old days when a kid pushing a lawn mower around the neighbourhood knocking on doors was common. Today you'll see cube vans pulling trailers loaded with equipment and illegals working like NASCAR pit crews that can do your lawn in about the time it takes to change the oil in your car.
What they really want is someone who is willing to "play ball".
Is Ted's brain still on ice somewhere?
Did I miss the announcement that Mary Schapiro of the SEC finally ended her two year long meetings with the criminal syndicate known as Wall Street...meetings about which SEC regulations Mary should just forget about and which SEC regulations the syndicate was comfortable with her enforcing? Can this be true?
Facts on the ground, with government bodies suing criminal banks, would suggest that this is, indeed, true.
Hmmmm?
www.roadtoroota.com
Fresh meat to be culled as a scapegoat later?
Yea its all funny jokes and nervous tittering...but when will conquered americans ever do anything? Never, apparently. Yea its all just a big funny joke.
relax sheepie , only your world has ended......
hehehe
Oh go fuck yourself pompous assclown.
lie down and rest a bit , it will look better once you get over the nervous around tits attitude.
Take a hike loser.
hehehe
hehehe
dear sheepie , plz don't take it like a sheep.
hehehe
hahaha
This is not fair.
Now karzai is out-trolling me!
All trolls must pay the trolling fee for trolling registration papers. Hit the donate button karzai. Borrow money from your lawn guy if you have too.
Not a joke, but what's a ZH reader to do, we warn our friends & family who give us the deer in headlights look, we protect ourselves by staying out of the system and with physicals. What next drive to DC and start busting caps? Self Immolation?
never resort to violence, you will play right into the nwo agenda and help bring in the crackdown/police state. peaceful noncompliance en masse is required. all we need is 20% of the population to be politically awake to force positive change
I was attempting to make a point, I don't advocate violence, but we are a long ways from massive marches on DC.
It doesn't have to be marches...protest by taking money out of the system, not buying things at mega stores that are imported from China, tax protests, use local banks, local stores, local everything, vote for non-party supported candidates, etc.
There is more to do than marching.
perp walks , selection season has started dontcha know!
comedy will be over the top , i hope they don't put the daily show out of biz...............
You left out your signature 'teeheeheehee' jackass!
heheheh
better.........
calm down, you are ok take a deep deep breath and relax
I bet you do that around the office, prance around saying 'tee hee hee' all day.
office---what is that?
Your slave condtioning is showing....
While you two kids were playing, Bob Pisani told the rest of us what "the important thing is..."
Let that be a lesson to you both.
The position is in the SEC's Division of Investment Management. That's part of the regulatory/rule-writing side of the agency, not the enforcement/subpoena-sending side. (Though the enforcers would hopefully be soliciting viewpoints from this person if they were doing an investigation related to ETFs.) Also, this job is open because the person who used to hold it recently left the agency. So there's a space to fill now. Bottom line, this means nothing -- don't expect any impact from this on the potential regulation -- or investigation -- of ETFs.
You just got to come along and spoil all of the fun, huh? ;-)
Besides, this is politics, never let the facts stand in the way of a good story.
Continuing with the humor
Harvey Dent is the hero gotham needs right now.
... six months later ....
You were the best of us. Two-Face, I mean Spitzer. That is why now you get to spend all your time watching porn and a cush job at CNN.
[stab...stab....stab...]
Currently stabbing myself in the ear with an ice pick. Cannot....stand........constant cliche bile on the BlowHorn [CNBC]....the zero cred network presenting criminal syndicate Wall Street equity pumpers with...the all time cliche that....."stocks are historically cheap here."
When was the last time anyone on Wall Street ever told you that stocks were expensive? 2007? Nope...back then, the mortgage mess was....gulp....ug......."priced in."
ATTENTION FCC: due to The BlowHorn's perpetually misleading of the people regarding financial news, please revoke said network's license to broadcast. Thank you. Seriously, the brain matter closest to my inner ear thanks you.
interviewees would be wise to wink and nod frequently while saying "jamie sent me".
Brooksley Borne and Janet M. Tavakoli r not in the outer space .
pff ....
There are some cute midgets out there. I am going to look for a midget dating site. Let u know what I find.
I just cannot even comment on this. What a farce.
GDX day high. Sell miners. Geesh.
Allow me, then: Anyone that meets the qualifications fer the job, ain't gonna work that cheap!
God forbid they did what they are supposed to do, like go after the real crooks at GS. End up shutting mom and pop down, no shorting etf, etc then let it rip and all funds flow directly to NYC.
I have a feeling the state of the US combined with the event horizon of FUCKING STUPIDITY have just made the infamous death cross.
Do we know if they're going ater ALL ETFs or specific ones that are flawed re: FAZ, FAS, UNG, USO?
What about PM mining ETFs like GDX GDXJ SIL or an energy ETF like XLE which has been around for awhile?
Will they get affected?
If the PM mining ETFs do get shut down, do the owners of the ETFs then get to aqurie the underlying stock holdings? However, are there even any holdings by these mining ETFs as they claim or are they all just simply "backed by nothing" derivatives?
This is making me want to sell out and buy physical.
Too Small To Succeeds going down all over America. Damn shame really. Can't obtain financing for commercial property with rates at all time lows. TBTF are charging 28% intrest and borrowing at zero. Can't borrow against properties as values have decreased by 50% in recent years. If we join a party which represents our intrest, we will be labled as racists, terrorist, and whatever else the labor party can come up with. Bullshit!!!!!!!!!!!!!!!!!!
so, shorting stocks is okay for price discovery but ETFs are not?! if ETFs are anything close to CDOs then short positions are even more so. trading copy-pasted assets across the market surely doesn't help discovering prices, yet we can see at ZH frequent cries whenever some regulator issues short selling ban.
another thing you can't see: after successfully dismantling last fiat currency safe haven, now it's time to bash gold and silver by disrupting last "fiat commodity" safe haven substitute candidate: capital running into paper PMs rather than stocks will not be tolerated!
If..
someone were too..
keep track of and catalogue the investigations "one" were to take part in..
after "one" was let go.. for doing "one's" job..
"one" could write a book and make a nice little fortune.. either too or not too publish.
The information shredded by the SEC would trump any work of fiction seen in the last 100 years, or better.
The "new" hire will start out taping the shreddings back into documents... Government work...
$300,000,000,000 - $198,333 = $299,999,801,667 (1 job created)
SEC asks WTF is an ETF. Sometimes to keep your job it is better to be stupid.
http://lonerangersilver.wordpress.com/2011/08/30/pyramid-of-capital-syst...
Tyler: Are you applying??
All kinds of Wall Street expense account freebies (Read: 4 star restaurants, invites to the Hamptons, hookers & cocaine)... if you just learn to muck the investigations up...
And...
Unlimited tranny porn man... Chicks with dicks, Tyler... Maybe your new boss Mary Schapiro will show you hers...
Nice oppertunity for those who posses teamwork,integrity and all aspects that could suit to the SEC.