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FINRA Fines Wells Fargo $2 Million For Unsuitable Sales Of Reverse Convertibles To Elderly Customers And Failure To Provide Breakpoints On UIT Sales - Firm Agrees To Pay Restitution To Affected Customers

Date 15/12/2011

The Financial Industry Regulatory Authority (FINRA) announced today that it has fined Wells Fargo Investments, LLC, $2 million for unsuitable sales of reverse convertible securities through one broker to 21 customers, and for failing to provide sales charge discounts on Unit Investment Trust (UIT) transactions to eligible customers. As part of the settlement, the firm is required to pay restitution to customers who did not receive UIT sales charge discounts and to provide restitution to certain customers found to have unsuitable reverse convertible transactions.
IMF Completes Fourth Review Under The Extended Arrangement With Ireland And Approves €3.9 Billion Disbursement

Date 15/12/2011

The Executive Board of the International Monetary Fund (IMF) has completed the fourth review of Ireland’s performance under an economic program supported by a three-year, SDR 19.47 billion (about €23.02 billion; or US$29.91 billion) arrangement under the Extended Fund Facility (EFF), or the equivalent of about 1,548 percent of Ireland’s IMF quota. The completion of the review enables the immediate disbursement of an amount equivalent to SDR 3.31 billion (about €3.91 billion; or US$5.08 billion), bringing total disbursements under the EFF to SDR 11.05 billion (about €13.07 billion; or US$16.98 billion).
NYSE Technologies Debuts Tokyo Liquidity Center - Further Developing Connectivity And Trading Services In Asia- - Customers Can Begin Trading In Just Weeks

Date 15/12/2011

NYSE Technologies, the commercial technology division of NYSE Euronext, today announced the opening of its latest Liquidity Center installation located in Tokyo, Japan. With growth in Asian markets outpacing many others in the world, the NYSE Technologies Tokyo Liquidity Center offers customers the ability to access these markets with unparalleled speed and reliability with minimal infrastructure costs and a dramatically decreased time to market of only a few weeks to begin trading.
UK's Financial Services Authority: Management Consultant Found Guilty Of Insider Dealing And Sentenced To Two Years

Date 15/12/2011

In a case brought by the Financial Services Authority (FSA), Rupinder Sidhu, a management consultant, was today found guilty of 22 counts of insider dealing at Southwark Crown Court and sentenced to two years imprisonment. Sidhu was found not guilty on one other count of insider dealing.
Dow Jones Indexes Named ‘Best Islamic Index Provider’ By Islamic Finance News For Fifth Consecutive Year - 2011 Honour Marks The 27th Industry Award For Dow Jones Islamic Market Indexes Since Its 1999 Launch

Date 15/12/2011

Dow Jones Indexes today announced it has been named 2011’s “Best Islamic Index Provider” by Islamic Finance News (IFN) – the fifth consecutive year in which the firm has captured the IFN award in recognition of its Dow Jones Islamic Market Indexes.

Market Volatility And MiFID II Reform Are Driving European Buy-Side Firms To Adjust Trading Strategies, Says TABB - Fifth Annual European Equity Trading Study Examines How Core Brokers Are Under Pressure - Rival Brokers Eager To Gain Market Share By Offering Innovative Algorithms, Improved Execution, Added Value And Diversification Of Services

Date 15/12/2011

Hit by the growing political and economic crisis racing across Europe and dealing with sustained market volatility and impending MiFID II regulation reform, as many as 75% of all European equity buy-side traders say they are adjusting their trading strategies. With performance and services from bulge-bracket core brokers under pressure, rival brokers are eager to step forward and grab market share.
Testimony By FINRA Chairman And Chief Executive Officer, Richard G. Ketchum, Before The Subcommittee On Oversight And Investigations Committee On Financial Services

Date 15/12/2011

I am Richard Ketchum, Chairman and CEO of the Financial Industry Regulatory Authority, or FINRA. On behalf of FINRA, I would like to thank you for the opportunity to testify today.
Treasury International Capital Data For October

Date 15/12/2011

The U.S. Department of the Treasury today released Treasury International Capital (TIC) data for October 2011. The next release, which will report on data for November 2011, is scheduled for January 18, 2012.
CFTC Commissioner Bart Chilton Statement Regarding MF Global

Date 15/12/2011

Press reports indicate that the CFTC knows the ultimate landing spot of all MF Global customer funds. While I will not discuss the specifics of the investigation, based upon the most up-to-date information available, I do not have confidence that we know where all the money went.
Final Settlement Prices Determined For December Futures On RTS And MICEX Indices

Date 15/12/2011

The final settlement price of the December futures contract on the RTS Index reached 135,500 points. It is calculated on the basis of the average RTS Index value for the period from 3:00 to 4:00 pm MSK (135,500 points as of December 15, 2011).