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Moody's Downgrades Spanish Banks - Ratings Carry Negative Outlooks Or Remain On Review For Downgrade

Date 17/05/2012

Moody's Investors Service has today downgraded by one to three notches the long-term debt and deposit ratings for 16 Spanish banks and Santander UK PLC, a UK-domiciled subsidiary of Banco Santander (Spain) SA. The rating downgrades primarily reflect the concurrent downgrades of most of these banks' standalone credit assessments, and in five cases also Moody's assessment that the Spanish government's ability to provide support to the banks has reduced.
New York Attorney General Schneiderman Announces Civil Lawsuit Against Robert Van Zandt & Others In $35 Million Securities Fraud Scheme - A.G. Sues Indicted Bronx Fraudster In $35 Million Fraud, Including Ponzi Scheme - Schneiderman: We Will Root Out These Frauds And Bring Justice For Investors And Retirees

Date 17/05/2012

Attorney General Eric T. Schneiderman today announced the filing of a civil lawsuit against the recently arrested Robert H. "Bob" Van Zandt, who is currently in custody after being indicted May 14 by a Bronx County Grand Jury on multiple charges of securities fraud, money laundering and grand larceny for an alleged multi-million dollar Ponzi scheme. Today's civil lawsuit charges that Van Zandt targeted clients of his tax-preparation business, the Van Zandt Agency, and abused his knowledge of clients' finances to lure unsophisticated investors into high-risk bets for purported development ventures that he owned or controlled, and stocks.
Direct Edge Trading Notice #12-20: Reminder About IPO Process On EDGA And EDGX Exchanges

Date 17/05/2012

Direct Edge would like to remind its Members how the opening execution price is determined on the EDGA Exchange and the EDGX Exchange for initial public offerings on NASDAQ. The opening execution price will be the mid-point of the first National Best Bid and Offer that is disseminated following the NASDAQ opening print. Orders not matched in the Direct Edge Opening process, either because of their limit price or the absence of a contra side order, will be handled based on each order’s instructions.
SEC Charges Seattle-Based Fund Manager For Secretly Diverting Client Funds To His Own Start-Up Companies

Date 17/05/2012

The Securities and Exchange Commission today charged a Seattle-based investment adviser and his firm with defrauding clients by secretly investing their money in two risky start-up companies he co-founded.
E.MEFF 27 - Launch Of The Bono 10 Futures Contract - Spanish 10-Year Government Bond

Date 17/05/2012

On Tuesday, 29 May, MEFF will launch a new futures contract on a Spanish 10-year Notional Bond based on long-term Spanish Government bonds.

Fitch Takes Negative Rating Actions On Greece

Date 17/05/2012

Fitch Ratings has downgraded Greece's Long-term foreign and local currency Issuer Default Ratings (IDRs) to 'CCC' from 'B-'. The Short-term foreign currency IDR has also been downgraded to 'C' from 'B'. At the same time, the agency has revised the Country Ceiling to 'B-'.
Athens And Korea Exchanges Commit To Dual-Listing Of Companies

Date 17/05/2012

The Athens Exchange (ATHEX) and the Korea Exchange (KRX) signed a Memorandum of Understanding (MOU) today in which they committed to cooperate in facilitating the dual-listing of companies on both exchanges.
Program Trading Averaged 25.7 Percent Of NYSE Volume During May 7-11

Date 17/05/2012

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 May 7-11.
SEC Charges New Jersey Man In Real Estate Investment Scam

Date 17/05/2012

The Securities and Exchange Commission today charged a New Jersey man with operating a Ponzi-like scheme involving a series of investment vehicles formed for the purported purpose of purchasing and managing rental apartment buildings in New Jersey and Pennsylvania.
KCBT Revises Modifications To HRW Wheat Futures & Options Electronic Trading Hours

Date 17/05/2012

The Kansas City Board of Trade announces a modification to the previously announced expansion of electronic trading hours for the KCBT's flagship hard red winter wheat futures and options contracts.