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SEC: CR Intrinsic Agrees To Pay More than $600 Million In Largest-Ever Settlement For Insider Trading Case

Date 15/03/2013

The Securities and Exchange Commission today announced that Stamford, Conn.-based hedge fund advisory firm CR Intrinsic Investors has agreed to pay more than $600 million to settle SEC charges that it participated in an insider trading scheme involving a clinical trial for an Alzheimer’s drug being jointly developed by two pharmaceutical companies.
CFTC Commitments Of Traders Reports Update

Date 15/03/2013

The current reports for the week of March 12, 2013 are now available.
The Nigerian Stock Exchange Market Report For The Week Ended 15 March 2013

Date 15/03/2013

A turnover of 2.550 billion shares worth N21.694 billion in 29,335 deals were transacted this week on the floor of The Exchange in contrast to a total of 1.928 billion shares valued at N20.990 billion that exchanged hands last week in 28,832 deals.
CFTC’s Division Of Market Oversight And Office Of Data And Technology Issue Advisory Reminding All Swap Counterparties Of April 10 Deadline To Obtain A CICI Identifier

Date 15/03/2013

The Division of Market Oversight (DMO) and Office of Data and Technology (ODT) of the Commodity Futures Trading Commission (CFTC) today issued an Advisory reminding all swap counterparties of the imminent April 10, 2013, deadline for each counterparty to obtain a legal entity identifier (LEI), currently known as a CFTC Interim Compliant Identifier or “CICI”. The source for obtaining a CICI is the CICI Utility designated by CFTC, available at www.ciciutility.org. Part 45 of the Commission’s regulations requires use of CICIs in all swap recordkeeping and swap data reporting.
SEC Charges Hedge Fund Firm Sigma Capital With Insider Trading

Date 15/03/2013

The Securities and Exchange Commission today announced that New York-based hedge fund advisory firm Sigma Capital Management has agreed to pay nearly $14 million to settle charges that the firm engaged in insider trading based on nonpublic information obtained through one of its analysts about the quarterly earnings of Dell and Nvidia Corporation.

ISE Weekly Listings - Mini Options

Date 15/03/2013

The International Securities Exchange will list mini options classes during on March 18, 2013 as described below.
From Our Man In Boca, Tom Groenfeldt: Competition In Clearing At FIA Boca

Date 15/03/2013

Whether planned, accidental or alphabetical based on last names, it was probably fortunate that the FIA Boca panel on clearing placed Michael Bodson, CEO of the DTCC at the opposite end of the stage from Kim Taylor, president of CME Clearing. Their views do tend to diverge.
SEC Issues Guidance Update On Social Media Filings By Investment Companies

Date 15/03/2013

The Securities and Exchange Commission today published a guidance update from its staff to clarify the obligations of mutual funds and other investment companies to seek review of materials posted on their social media sites.
JPMorgan Chase Whale Trades: A Case History Of Derivatives Risks And Abuses Majority And Minority Staff Report - Permanent Subcommittee On Investigations United States Senate Released In Conjunction With The Permanent Subcommittee On Investigations March 15, 2013 Hearing, Senator Carl Levin Chairman Senator John McCain, Ranking Minority Member

Date 15/03/2013

JPMorgan Chase & Company is the largest financial holding company in the United States, with $2.4 trillion in assets. It is also the largest derivatives dealer in the world and the largest single participant in world credit derivatives markets. Its principal bank subsidiary, JPMorgan Chase Bank, is the largest U.S. bank. JPMorgan Chase has consistently portrayed itself as an expert in risk management with a “fortress balance sheet” that ensures taxpayers have nothing to fear from its banking activities, including its extensive dealing in derivatives. But in early 2012, the bank’s Chief Investment Office (CIO), which is charged with managing $350 billion in excess deposits, placed a massive bet on a complex set of synthetic credit derivatives that, in 2012, lost at least $6.2 billion.
SEC Charges San Diego Lawyers And Others In An International Market Manipulation Scheme

Date 15/03/2013

The Securities and Exchange Commission today charged a group of Canadian stock promoters, two San Diego attorneys, a Bahamas-based broker-dealer, and other participants in an international “pump-and-dump” scheme involving two publicly traded U.S. companies, Pacific Blue Energy Corporation and Tradeshow Marketing Company Ltd.