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Federal Court In Texas Orders Linda Harris, Chance Harris, CDH Forex Investments, LLC, And CDH Global Holdings, LLC, To Pay Over $5.4 Million In Restitution And A Monetary Sanction For Forex Fraud
Date 21/06/2012
The U.S. Commodity Futures Trading Commission (CFTC) today announced that it obtained a federal court order imposing more than $5.4 million in restitution and a civil monetary penalty on defendants Linda Harris, Chance Harris and their companies, CDH Forex Investments, LLC (CDH Forex) and CDH Global Holdings, LLC (CDH Global), all of Flower Mound, Texas, for fraud in connection with the operation of a commodity pool and managed accounts trading off-exchange foreign currency (forex) contracts.
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NASDAQ Dubai Monthly Trading Report: May 2012
Date 21/06/2012
he value of equities traded on NASDAQ Dubai in May 2012 reached 38.3 million dollars. This was an increase of 4% from 36.9 million dollars in April 2012 and a fall of 39% from 63.2 million dollars in May 2011.
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SEC Charges Florida Broker In Astrology-Based Ponzi Scheme
Date 21/06/2012
The Securities and Exchange Commission today charged that a former broker in Orlando, Fla., defrauded investors in an astrology-based Ponzi scheme.
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Semi-Annual Review Of The OMX Iceland 6 Index
Date 21/06/2012
The NASDAQ OMX Group, Inc. (NASDAQ:NDAQ) announces today the results of the semi-annual review of the OMX Iceland 6 Index, (NASDAQ OMX Iceland: OMXI6ISK), which will become effective at the market open on Monday July 2, 2012.
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FINRA Fines Merrill Lynch $2.8 Million For Overcharging Customers; $32 Million In Remediation Paid To Affected Customers
Date 21/06/2012
The Financial Industry Regulatory Authority (FINRA) announced today that it has fined Merrill Lynch, Pierce, Fenner & Smith, Inc. $2.8 million for supervisory failures that resulted in overcharging customers $32 million in unwarranted fees, and for failing to provide certain required trade notices. Merrill Lynch has provided $32 million in remediation, plus interest, to the affected customers.
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Program Trading Averaged 39.3 Percent Of NYSE Volume During June 11-15
Date 21/06/2012
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 June 11-15.
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SEC Charges Two New Jersey-Based Firms And Owner In Stock-Lending Scheme
Date 21/06/2012
The Securities and Exchange Commission today charged a New Jersey businessman with running a stock-lending scheme that defrauded public company officials and brought restricted stock to the market.
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Merrill Lynch, Pierce, Fenner & Smith, Inc. Action - FINRA Fines Merrill Lynch $2.8 Million For Overcharging Customers; $32 Million In Remediation Paid To Affected Customers
Date 21/06/2012
The Financial Industry Regulatory Authority (FINRA) announced today that it has fined Merrill Lynch, Pierce, Fenner & Smith, Inc. $2.8 million for supervisory failures that resulted in overcharging customers $32 million in unwarranted fees, and for failing to provide certain required trade notices. Merrill Lynch has provided $32 million in remediation, plus interest, to the affected customers.
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Testimony On “Perspectives On Money Market Mutual Fund Reforms” By SEC Chairman Mary L. Schapiro Before The Committee On Banking, Housing, And Urban Affairs Of The United States Senate
Date 21/06/2012
Thank you for the opportunity to testify about the Securities and Exchange Commission’s regulation of money market funds.[1] The risks posed by money market funds to the financial system are part of the important unfinished business from the financial crisis of 2008. One of the seminal events of that crisis occurred in September, after Lehman Brothers filed for bankruptcy and the Reserve Primary Fund “broke the buck,” triggering a run on money market funds and freezing the short-term credit markets. Although the Commission took steps in 2010 to make money market funds more resilient, they still remain susceptible today to investor runs with potential systemic impacts on the financial system, as occurred during the financial crisis just four years ago. Unless money market fund regulation is reformed, taxpayers and markets will continue to be at risk that a money market fund can “break the buck” and transform a moderate financial shock into a destabilizing run. In such a scenario, policymakers would again be left with two unacceptable choices: a bailout or a crisis.
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Dubai Mercantile Exchange Appoints CEO
Date 21/06/2012
DME (Dubai Mercantile Exchange) the Middle East’s leading energy futures exchange and home to the emerging benchmark for crude oil pricing for the East of Suez markets, has today announced the appointment of former BNP Paribas Head of Marketing for Commodity Futures APAC, Christopher Fix, as Chief Executive Officer.
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