News Centre

Remarks During News Conference Announcing Charges in a $276 Million Insider Trading Scheme By Robert Khuzami, Director Of The SEC’s Division Of Enforcement, U.S. Securities And Exchange Commission

Date 20/11/2012

Good afternoon.

Today, once again, I find myself here alongside our criminal law enforcement partners announcing new charges of insider trading by yet another prominent hedge fund firm and its portfolio manager.

DTCC And STA Agree On Protocol For Presentment Of Physical Securities

Date 20/11/2012

The Depository Trust & Clearing Corporation (DTCC) today announced that is has come to an agreement with representatives of the Securities Transfer Association (STA) on the protocol for the presentment of evidence of ownership in lieu of physical certificates which are currently inaccessible in DTCC’s 55 Water Street offices. The agreement balances the needs of the transfer agents and issuers, while facilitating DTCC’s ability to efficiently continue physical processing on behalf of the industry while its vault inventory is inaccessible.

Speech By Federal Reserve Chairman Bernanke On The Economic Recovery And Economic Policy

Date 20/11/2012

Good afternoon. I am pleased to join the New York Economic Club for lunch today. I know that many of you and your friends and neighbors are still recovering from the effects of Hurricane Sandy, and I want to let you know that our thoughts are with everyone who has suffered during the storm and its aftermath.

IOSCO Emerging Markets Prepare For Bigger Role In The Global Economy

Date 20/11/2012

The emerging market members of the International Organization of Securities Commissions (IOSCO) met in Santiago de Chile this week to continue work aimed at preparing emerging securities markets to play a bigger role in driving growth in the global economy. Fernando Coloma, Chair of the Superintendencia de Valores y Seguros, Chile, chaired the meeting. Masamichi Kono, Chairman of the IOSCO Board attended the meeting.

New York Attorney General Schneiderman Sues Credit Suisse For Fraudulent Residential Mortgage-Backed Securities - Lawsuit Charges Credit Suisse Misrepresented Loan Quality Review Process, Deceived Investors & Contributed To Mortgage Crisis - Continued Legal Action by State-Federal Residential Mortgage-Backed Securities Working Group - Schneiderman: Credit Suisse RMBS Trusts Incurred Billions In Losses And Will Be Held Accountable

Date 20/11/2012

Attorney General Eric T. Schneiderman today filed a Martin Act complaint against Credit Suisse Securities (USA) LLC and its affiliates for making fraudulent misrepresentations and omissions to promote the sale of residential mortgage­-backed securities (RMBS) to investors. According to Attorney General Schneiderman’s lawsuit, Credit Suisse deceived investors as to the care with which they evaluated the quality of mortgage loans packaged into residential mortgage-backed securities prior to 2008. RMBS sponsored and underwritten by Credit Suisse in 2006 and 2007 have suffered losses of approximately $11.2 billion.

Lorraine Echavarria Named Associate Regional Director To Lead Enforcement Program In SEC’s Los Angeles Office

Date 20/11/2012

The Securities and Exchange Commission today announced that Lorraine B. Echavarria has been promoted to lead the Los Angeles Regional Office’s enforcement program as an Associate Regional Director.

S&P Dow Jones Indices, TMX Group Launch Preferred Share Laddered And Equal Weight Sector Indices - Indices Licensed To BMO Asset Management For The Development Of ETFs

Date 20/11/2012

S&P Dow Jones Indices and TMX Group Inc. announced today the launch of three new Canadian indices: the S&P/TSX Preferred Share Laddered index, the S&P/TSX Equal Weight Global Gold index and the S&P/TSX Equal Weight Industrials index. Each of the indices has been licensed by S&P Dow Jones Indices to BMO Asset Management for potential exchange traded products to be listed on Toronto Stock Exchange.

CFTC’s Division Of Swap Dealer And Intermediary Oversight Issues No-Action Letter On The Pay-To-Play Rules For Swap Dealers Conducting Business With Certain Governmental Special Entities

Date 20/11/2012

The Commodity Futures Trading Commission’s (CFTC) Division of Swap Dealer and Intermediary Oversight (DSIO) today issued a no-action letter addressing the pay-to-play rules applicable to swap dealers who conduct business with certain governmental special entities.

SEC Sanctions Two Investment Advisers For Impeding Examinations

Date 20/11/2012

The Securities and Exchange Commission today sanctioned two investment advisory firms for impeding examinations conducted by SEC staff.

CFTC Orders Eagle Market Makers Inc. To Pay Over $223,000 In Penalties And Disgorgement To Settle Charges Of Violating Corn Futures Speculative Position Limits And Failing To Supervise Traders

Date 20/11/2012

The U.S. Commodity Futures Trading Commission (CFTC) today announced that Eagle Market Makers Inc. (Eagle) of Chicago, Illinois, agreed to pay a $220,000 civil monetary penalty and $3,475 in disgorgement to settle CFTC charges that it exceeded spot-month position limits in corn futures and failed to diligently supervise its traders.  Eagle is currently registered with the CFTC as a Futures Commission Merchant, a Commodity Pool Operator, and a Commodity Trading Advisor, according to the order.