News Centre

SEC Charges Former Rochdale Securities Broker For Rogue Trades That Brought Down Firm

Date 15/04/2013

The Securities and Exchange Commission today charged a former employee at a Connecticut-based brokerage firm with scheming to personally profit from placing unauthorized orders to buy Apple stock. When the scheme backfired, it ultimately caused the firm to cease operations.

Federal Court In California Orders National Equity Holdings, Inc. And Its Principal, Robert J. Cannone, To Pay Over $3.6 Million To Settle Fraud Charges In CFTC Action

Date 15/04/2013

The U.S. Commodity Futures Trading Commission (CFTC) today announced that it obtained a federal court Order against Defendants National Equity Holdings, Inc. (National Equity) and its Principal,Robert J. Cannone, both of Orange County, California, requiring them to pay restitution to defrauded customers in accordance with restitution set in a related criminal action at $1,059,096 (U.S. v. Cannone, SACR 11-263). The Consent Order of Permanent Injunction also imposes civil monetary penalties of $2.8 million on National Equity and $800,000 on Cannone. The Order also imposes permanent trading and registration bans against the Defendants and prohibits them from violating the anti-fraud provisions of the Commodity Exchange Act (CEA), as charged.

Letter On Margin Requirements For Non-Centrally-Cleared Derivatives

Date 15/04/2013

Click here to download a letter from ISDA, the IIF, the AFME and SIFMA to global policymakers on margin requirements for non-centrally-cleared derivatives.

FINRA Files Complaint Charging John Thomas Financial, CEO Tommy Belesis With Fraud - Intimidation Of Its Reps. And Multiple Market Violations Cited In Complaint

Date 15/04/2013

The Financial Industry Regulatory Authority (FINRA) announced today that it has filed a complaint against John Thomas Financial (JTF), of New York, NY, and its Chief Executive Officer, Anastasios "Tommy" Belesis, charging fraud in connection with the sale of America West Resources, Inc. (AWSR) common stock, intimidation of registered representatives, trading ahead, failing to provide best execution for customer orders and various other violations. The complaint also names Michele Misiti, Branch Office Manager; John Ward, trader; Joseph Castellano, Chief Compliance Officer; and Ronald Vincent Cantalupo, Regional Managing Director.

Trading Technologies To Provide Connectivity To MexDer

Date 15/04/2013

Trading Technologies International, Inc. (TT) and The Mexican Derivatives Exchange (MexDer) today announced that TT has linked its X_TRADER® derivatives trading platform to MexDer, the leading marketplace for trading derivatives on Mexican benchmarks, via the CME Group’s Globex® platform. TT’s connection launched concurrently with CME’s iLink enhancements for MexDer via Globex, which were released on April 14.

Warsaw Stock Exchange Conducted First Trading Session On The New Trading System UTP - Updated

Date 15/04/2013

• The first trading session using the new trading system, Universal Trading Platform (UTP), took place on 15 April 2013.
• Trading proceeded correctly according to the new session schedule and the session opening and closing was uninterrupted.
• During the first session, the total value of trading in shares was PLN 752.8 million and investors made 54 744 transactions in total.

Financial Stability Board Publishes Fifth Progress Report On Implementation Of OTC Derivatives Market Reforms

Date 15/04/2013

The Financial Stability Board (FSB) published today its  fifth six-monthly progress report on the implementation of over-the-counter (OTC) derivatives market reforms. This report takes stock of progress made by standard-setting bodies, national and regional authorities and market  participants  towards  meeting  the  commitments  made  by  G20  Leaders  at  the Pittsburgh 2009 Summit that all standardised OTC derivative contracts be traded on exchanges or electronic trading platforms, where appropriate, and cleared through central counterparties (CCPs); that OTC derivative contracts be reported to trade repositories; and that non-centrally cleared contracts be subject to higher capital requirements.

ADX Companies Pay 15 Billion Cash Dividends For 2012

Date 15/04/2013

Abu Dhabi Securities Exchange (ADX) announced that its listed companies distributed a cash dividend of 15 billion in 2013 for the fiscal year 2012, an increase of 14% vs. the same quarter one year ago.  The 15 billion cash dividend represents 64% of the total AED 23 billion cash dividend distributed by companies listed on the UAE markets. 

Treasury International Data Capital Data For February

Date 15/04/2013

The U.S. Department of the Treasury today released Treasury International Capital (TIC) data for February 2013. The next release, which will report on data for March 2013, is scheduled for May 15, 2013.

Federal Reserve Board Invites Comment On Proposal To Establish Annual Assessments

Date 15/04/2013

The Federal Reserve Board on Monday invited comment on a proposal to establish an annual assessment of bank holding companies and savings and loan holding companies with $50 billion or greater in total consolidated assets and for nonbank financial companies designated by the Financial Stability Oversight Council for supervision by the Federal Reserve.