News Centre

CalPERS Settles Moody's Negligent Ratings Case For Record $130 Million

Date 09/03/2016

The California Public Employees' Retirement System (CalPERS) today announced it has settled its case against Moody's and Moody's Investors' Services (Moody's) for a record $130 million. The case stemmed from Moody's erroneous ratings of "AAA" rated structured investment vehicles prior to the financial crisis. Early in 2015, CalPERS settled with defendant Standard & Poor's (S&P) for $125 million, bringing total recovery from the now-concluded lawsuit to $255 million.

CFTC Financial Data For Futures Commission Merchants Update

Date 09/03/2016

This information has recently been updated, and is now available.

http://www.cftc.gov/MarketReports/FinancialDataforFCMs/index.htm

SIFMA Research: Long Term Securities Issuance Increases 7.1% In 2015 To $6.7 Trillion

Date 09/03/2016

SIFMA issued its Research Quarterly for the fourth quarter and full year of 2015 today.  The report notes long-term securities issuance totaled $1.48 trillion in 4Q'15, an 8.5 percent decline from $1.62 trillion in 3Q'15 and a 4.9 percent decrease year-over-year (y-o-y) from $1.56 trillion in 4Q'14. Issuance fell quarter-over-quarter (q-o-q) across all asset classes with mortgage-backed, asset-backed and equity recording the largest percentage declines. For full year 2015, long-term issuance totaled $6.7 trillion, an increase of 7.1 percent from $6.3 trillion in 2014. The annual increase was driven primarily by increase in mortgage-related and corporate bond issuance.

SEC: Insider Traders Returning Illegal Profits And Kickbacks

Date 09/03/2016

The Securities and Exchange Commission today announced that a Florida man trading on inside information ahead of a pharmaceutical company merger and a friend who tipped him have agreed to settle enforcement actions against them.

Euronext Announces Annual Review Of The AEX, AMX And AScX

Date 09/03/2016

Euronext, the leading exchange in the Eurozone, today announces the results of the annual review of the AEX®, AMX®and AScX®indices. The changes due to the review will be effective from Monday 21 March 2016.

CFTC Orders CHS, Inc. And CHS Hedging, LLC To Pay $1 Million For Inaccurately Reporting Positions In Corn And Soybeans

Date 09/03/2016

The U.S. Commodity Futures Trading Commission (CFTC) today issued an Order filing and simultaneously settling charges against CHS, Inc. (CHS), a cooperative corporation for failing to comply with its legal obligation to submit accurate monthly CFTC Form 204 Reports, regarding the composition of CHS’s fixed price cash corn and soybean purchases and sales, in violation of the reporting requirements in CFTC Regulation 19.01. CHS is based in Inver Grove Heights, Minnesota.

California Water District To Pay Penalty For Misleading Investors

Date 09/03/2016

The Securities and Exchange Commission today charged California’s largest agricultural water district with misleading investors about its financial condition as it issued a $77 million bond offering.  

MiFID II/Best Execution Legal Opinion With Regard To Routing To Multiple Trading Venues

Date 09/03/2016

An important aim and consequence of the MiFID regime for investment firms has been the introduction of competition, resulting in the establishment of multiple equity and derivatives exchanges. Banks and investment firms need to consider how they will manage the multitude of execution venue-choices in their duty of care towards clients for the MiFID II enhanced Best Execution requirements.

Dubai International Financial Centre Enhances ICT Infrastructure With Inauguration Of First Property Listings Website - Exclusive Platform Designed To Showcase Premier DIFC Properties And Facilitate Direct Communication Between Landlords And Tenants.

Date 09/03/2016

Dubai International Financial Centre (DIFC), the global financial gateway connecting businesses and institutions with emerging market opportunities across the Middle East, Africa and South Asia, has announced the launch of its new property listings website (properties.difc.ae/), an integrated platform that connects landlords of DIFC-registered properties to existing and prospective tenants.

MIAX Options - Daylight Saving Time - March 2016

Date 09/03/2016

Please be advised the MIAX Options Exchange is scheduled to begin Daylight Saving at 2:00 AM on Sunday, March 13, 2016.  The MIAX will adjust the system time ahead 1 hour for trading beginning Monday, March 14, 2016.