News Centre

Statement On The Effect Of The Recent Court Of Appeals Decision On The Conflict Minerals Rule, Keith F. Higgins Director, SEC Division Of Corporation Finance

Date 30/04/2014

On April 14, 2014, the United States Court of Appeals for the District of Columbia Circuit issued a decision in National Association of Manufacturers, et al. v. SEC, et al., No. 13-5252 (D.C. Cir. April 14, 2014). That case involved a challenge to Exchange Act Rule 13p-1 and Form SD. Rule 13p-1 and Form SD were adopted pursuant to Exchange Act Section 13(p), which was added by Section 1502 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The Court of Appeals rejected all of the challenges to the rule based on the Administrative Procedure Act and the Securities Exchange Act of 1934. The Court, however, concluded that Section 13(p)(1) and Rule 13p-1 “violate the First Amendment to the extent the statute and rule require regulated entities to report to the Commission and to state on their website that any of their products have ‘not been found to be “DRC conflict free.”’” In so concluding, the Court specifically noted that there was no “First Amendment objection to any other aspect of the conflict minerals report or required disclosures.” In an order issued concurrently with the decision, the Court of Appeals withheld the issuance of its mandate until seven days after disposition of any timely petition for rehearing or petition for rehearing en banc. As a result, the earliest date on which the Court’s mandate is likely to issue is June 5, 2014. Under Rule 13p-1, the first reports are due to be filed on June 2, 2014.

CBOE Holdings Declares Second Quarter 2014 Dividend

Date 30/04/2014

CBOE Holdings, Inc. (NASDAQ: CBOE) announced today that its Board of Directors has declared a quarterly cash dividend of$0.18 per share of common stock payable on June 20, 2014 to the unrestricted common stockholders of record on May 30, 2014.

Statement On WKSI Waivers, SEC Commissioner Daniel M. Gallagher

Date 29/04/2014

In 2005, the Commission adopted a package of new rules referred to as “Securities Offering Reform”—an all-too-rare example of the Commission taking a major action of its own volition to facilitate capital formation.  The release created a new category of issuer—the Well-Known Seasoned Issuer, or WKSI—and granted to WKSIs enhanced flexibility in accessing the capital markets.  WKSIs are defined to include the largest, most widely-followed issuers.  But certain issuers that would otherwise be WKSIs are excluded as “ineligible” under certain conditions (e.g., a criminal conviction).  The Commission can waive ineligible issuer status if it determines that it is not necessary under the circumstances that an issuer be considered ineligible.  This authority to grant WKSI waivers has been delegated to the Division of Corporation Finance.

Direct Edge Trading Notice #14-15: Updates To The EDGA And EDGX Fee Schedules

Date 29/04/2014

EDGA ExchangeSM (EDGA®) and EDGX ExchangeSM (EDGX®) have updated the definitions and general notes sections of the fee schedules.  Effective Thursday, May 1, 2014, shares executed on the following days will be excluded from the monthly Average Daily Volume (ADV) and Total Consolidated Volume (TCV) for tier calculations: (i) day of the Russell Rebalance; and (ii) any day where we experience a system disruption lasting more than 60 minutes during Regular Trading Hours.  

National Banks And Federal Savings Associations Encouraged To Work With Customers Affected By Recent Extreme Weather

Date 29/04/2014

The Office of the Comptroller of the Currency reminds national banks and federal savings associations of guidance to assist financial institutions and customers affected by extreme weather, such as the recent tornadoes in the south central and central United States.

Randy Snook SIFMA Executive Vice President, Business Policies & Practices - 2014 Operations Conference & Exhibition Opening Remarks

Date 29/04/2014

Good morning. I’m Randy Snook, executive vice president of business policies and practices at SIFMA. It is my pleasure to welcome you to our 41st Annual Operations Conference & Exhibit. SIFMA is pleased to provide this forum where our members, regulators and solution providers can come together with the shared goal of improving both the operating efficiency and resiliency of financial markets and the industry.   

MOU Of Strategic Partnership And Cooperation Between Arab Common Exchange Holding And NASDAQ OMX

Date 29/04/2014

NASDAQ OMX (Nasdaq:NDAQ) and Arab Common Exchange Holding (ACX Holding) have signed a Memorandum of Understanding (MOU) that will build on their collective achievements to enter into a long-term strategic partnership to establish a pan-Arab network of exchanges owned and run by the private sector to serve the entire Arab capital markets.

SIX Swiss Exchange: First ETF On New Index Launched

Date 29/04/2014

EGX Grants Beltone Financial Use Of EGX 30 Index To Setup ETF's

Date 29/04/2014

EGX signed yesterday an agreement to grant the 1st license to an Egyptian financial firm to use EGX30 to setup XT Misr ETF's, Beltone Financial wins the 1st license to start the ETF's in the Egyptian capital market.

Federal Court Orders James C. Yadgir Of Palatine, Illinois To Pay $130,000 Penalty For Violating Speculative Position Limits For Cattle Futures

Date 29/04/2014

The U.S. Commodity Futures Trading Commission (CFTC) today announced that Judge Sara L. Ellis of the U.S. District Court for the Northern District of Illinois entered a final judgment and consent Order for permanent injunction against James C. Yadgir of Palatine, Illinois, who has been registered with the CFTC as floor trader since 1993 and as floor broker since 2007. The Order settles charges that Yadgir exceeded speculative position limits in live cattle futures contracts on one day and feeder cattle futures contracts on two other days. The Order requires Yadgir to pay a civil monetary penalty of $130,000 and permanently prohibits him from violating speculative position limits of a registered entity, which have been either approved by the CFTC or certified by a registered entity.