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Announcement By The Ministry Of Finance Republic Of Cyprus - Possible Questions And Indicative Answers

Date 31/03/2013

The Restrictive Measures.

1. Does the cash withdrawal limit apply per accountholder or per account?

Each accountholder (natural or legal) can withdraw cash up to the daily limit of €300 per credit institution.

2. What restrictions would apply if I have more than one account in the same credit institution? What restrictions would apply if I have different kinds of accounts – for example, a checking account and a deposit account?

All current/sight accounts are consolidated (as well as their balances) for the determination of the total balance and cash limit per individual. Withdrawal cannot be made from deposit (term) accounts.

Press Release By The Central Bank Of Cyprus Regarding The Resolution Measures Implemented At The Bank Of Cyprus And Laiki Bank

Date 31/03/2013

For the better understanding of the resolution measures implemented under the Resolution of Credit and Other Institutions Law, 2013 at the Bank of Cyprus and Laiki Bank, following the agreement of the Eurogroup with the Cyprus Government on 25 March 2013, the Central Bank of Cyprus (CBC) would like to clarify the following points:

NASDAQ Dubai Welcomes US Dollars 750 Million Emirates NBD Bond To Its Market

Date 31/03/2013

NASDAQ Dubai, the Middle East’s international financial exchange, welcomed the listing today of a seven hundred and fifty million US Dollar conventional bond issued by Dubai-based Emirates NBD. 

CFTC Staff Issue Extension Of No-Action Relief To Certain Regional Transmission Organizations (RTOs), Independent System Operators (ISOs), And/Or Their Participants

Date 29/03/2013

Staff from the Division of Clearing and Risk, Division of Market Oversight, and Division of Swap Dealer and Intermediary Oversight of the Commodity Futures Trading Commission issued a No-Action Relief letter today in order to give Regional Transmission Organizations (RTOs) and Independent System Operators (ISOs) time to enact certain tariff, protocol or rate schedule changes and take other steps necessary to (a) satisfy the conditions of the exemption granted to them in the related final order of March 28, 2013 and (b) operate within the scope of that exemption.

Written Statement By The Cyprus Government Spokesman Mr Christos Stylianides - Media Reports Of Cypriot Banks Writing Off Loans To Politicians

Date 29/03/2013

Republic Of Cyprus Second Decree By Virtue Of The Enforcement Of Restrictive Measures On Transactions In Case Of Emergency Law Of 2013

Date 29/03/2013

Click here to download the second decree.

CFTC Commitments Of Traders Reports Update

Date 29/03/2013

The current reports for the week of March 26, 2013 are now available.

Australian Research Analyst Extradited On Insider Trading Charges

Date 29/03/2013

Trent Martin was extradited from Hong Kong yesterday to face insider trading charges, announced U.S. Attorney for the Southern District of New York Preet Bharara and Assistant Director-in-Charge of the FBI New York Field Office George Venizelos, the announced the arrival of . He was arrested in Hong Kong on Dec. 22, 2012, following to a request from the United States. Martin will be presented in New York federal court before U.S. Magistrate Judge Henry B. Pitman this afternoon at 2:30 p.m.  

New York Hedge Fund Portfolio Manager Charged With Insider Trading - Michael Steinberg Allegedly Earned $1.4 Million In Illegal Profits

Date 29/03/2013

Michael Steinberg, a portfolio manager at a hedge fund located in New York, N.Y. (Hedge Fund A) was charged today  with securities fraud for his alleged involvement in an insider trading scheme, announced U.S. Attorney for the Southern District of New York Preet Bharara and Assistant Director-in-Charge of the New York Field Office of the FBI George Venizelos. As alleged, Steinberg executed trades based on material, nonpublic information provided to him by a Hedge Fund A analyst who worked for him, John Horvath, who previously pleaded guilty to securities fraud charges pursuant to a cooperation agreement.  In particular, Steinberg is alleged to have traded in two publicly traded technology companies, Dell, Inc. and NVIDIA Corporation, based on inside information that Horvath obtained from a circle of research analysts at several different investment firms, all of whom have also pleaded guilty for their roles in the scheme.  Those individuals are: Jesse Tortora, a former research analyst at Diamondback; Spyridon “Sam” Adondakis, a former research analyst at Level Global; Danny Kuo, a former research analyst and fund manager at Whittier Trust Company; and Sandeep “Sandy” Goyal, a former research analyst who worked at the Manhattan office of Neuberger Berman.  Steinberg’s trading in Dell and NVIDIA earned Hedge Fund A $1.4 million in illegal profits.  Steinberg was arrested this morning in Manhattan and will be presented and arraigned in New York federal court before U.S. District Judge Richard J. Sullivan at 11:00 a.m.

CFTC Approves Final Regulations Governing Dual And Multiple Associations Of Associated Persons Of Swap Dealers And Major Swap Participants

Date 29/03/2013

The Commodity Futures Trading Commission (Commission) has approved final regulations governing dual and multiple associations of associated persons (APs) of swap dealers (SDs), major swap participants (MSPs) and other Commission registrants. The regulations make clear that each SD, MSP and other Commission registrant with whom an AP is associated is required to supervise the AP and is jointly and severally responsible for the activities of the AP with respect to customers common to it and any other SD, MSP or other Commission registrant.