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  • Statement By U.S. Treasury Under Secretary David Cohen On Action By The EU And Swift to Terminate Service For Sanctioned Iranian Banks

    Date 15/03/2012

    Treasury Under Secretary for Terrorism and Financial Intelligence David S. Cohen issued the following statement today:
     
    “The United States welcomes today’s action by the Society for Worldwide Interbank Financial Telecommunication (SWIFT) to terminate services for designated Iranian banks, which we understand includes the Central Bank of Iran. We commend the EU for directing that no specialized financial messaging services can be provided by any entity in the EU for sanctioned Iranian entities and for the prompt response by the Belgian Treasury and SWIFT to the EU’s action."

  • IMF Executive Board Approves €28 Billion Arrangement Under Extended Fund Facility For Greece

    Date 15/03/2012

    The Executive Board of the International Monetary Fund (IMF) today approved a four-year SDR 23.8 billion (about €28 billion, or US$36.7 billion) arrangement under the Extended Fund Facility (EFF) for Greece in support of the authorities’ economic adjustment program. The approval allows for an immediate disbursement of SDR 1.4 billion (about €1.65 billion, or US$2.2 billion). The EFF arrangement entails exceptional access to IMF resources, amounting to 2,159 percent of Greece’s quota.

  • SEC Charges Senior Executives At California-Based Firm In Stock Lending Scheme

    Date 15/03/2012

    The Securities and Exchange Commission today charged two senior executives and their California-based firm with defrauding officers and directors at publicly-traded companies in an elaborate $8 million stock lending scheme.

  • Program Trading Averaged 29.4 Percent Of NYSE Volume During Mar. 5-9

    Date 15/03/2012

    The New York Stock Exchange, a subsidiary of NYSE Euronext (NYX), today released its weekly program-trading data compiled from member firms' executed volume from NYSE's orders database. The report includes trading on the NYSE for Mar. 5-9.

  • SEC Charges Bay Area Investment Adviser For Defrauding Investors With Bogus Audit Report

    Date 15/03/2012

    The Securities and Exchange Commission today charged a San Francisco-area investment adviser with defrauding investors by giving them a bogus audit report that embellished the financial performance of the fund in which they were investing.

  • INTL FCStone UK Subsidiary Agrees To Purchase TRX Futures Limited

    Date 15/03/2012

    INTL FCStone Inc. (Nasdaq:INTL), today announced that INTL Holding (UK) Limited, a wholly owned subsidiary in the United Kingdom, has signed a sale and purchase agreement to acquire TRX Futures Limited from Neumann Gruppe GmbH. Closing is conditional upon approval of the Financial Services Authority. TRX Futures is a London-based brokerage and clearing firm for commercial coffee and cocoa customers, as well as energy and financial products. Its clients will benefit from INTL FCStone's infrastructure, commodities expertise and comprehensive array of exchange traded and over-the-counter products. As a clearing member of NYSE Liffe and ICE Futures Europe, TRX will add to INTL FCStone's existing clearing memberships, which include the London Metal Exchange.

  • Iceland To Repay Early Some Outstanding Obligations To The IMF

    Date 15/03/2012

    Iceland announced today that it repaid, ahead of schedule, obligations to the IMF amounting to some SDR 288.8 million (US$ 443.4 million). The payment was made on March 12.

  • FSB: Technical Features Of The Legal Entity Identifier (LEI)

    Date 15/03/2012

    The FSB LEI Expert Group has made significant progress in identifying the key issues and developing framework solutions to be presented in the report to the FSB Plenary by the end of April, to enable the Board to meet the G-20 mandate provided at the Cannes Summit. Work is proceeding intensively under five workstreams - each having its own mandate and deliverables: governance; operational model; scope, confidentiality and access; funding; and implementation and phasing. The Expert Group is supported by an Industry Advisory Panel composed of 34 representatives from different sectors and regions to help provide important industry input into the global public-private LEI initiative.

  • Fitch Affirms The Bank Of England At 'AAA', Revises Outlook To Negative

    Date 15/03/2012

    Fitch Ratings has affirmed the Bank of England's (BoE) Long-term Issuer Default Rating (IDR) at 'AAA' and senior unsecured notes at 'AAA' as well as the senior unsecured short-term rating at 'F1+'. The agency has also affirmed the senior unsecured notes issued under BoE's debt issuance programme at 'AAA'. The Outlook on the Long-term rating has been revised to Negative from Stable.

  • FSB: Enhancing The Contribution Of External Audit To Financial Stability

    Date 15/03/2012

    At its Plenary meeting on 10 January, the FSB Plenary underscored the importance of workto improve the role that external audits play in providing information to prudential supervisors and regulators of financial institutions, and to reinforce the effectiveness of the regulation of external audits, particularly those of financial institutions.