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SEC Charges Two Florida Residents For Unlawful Short Selling

Date 11/05/2010

The Securities and Exchange Commission today charged two Boca Raton, Fla., residents for engaging in illegal short selling of securities in advance of participating in numerous secondary offerings to make illicit profits.
Futures Industry Coalition Opposes Bingaman Amendment To Wall Street Reform Bill

Date 11/05/2010

The attached letter was sent to key members of the U.S. Senate today. It relates to the jurisdictional boundary between the Federal Energy Regulatory Commission and the Commodity Futures Trading Commission.
Federal Reserve Releases Agreements With Foreign Central Banks To Reestablish Temporary Dollar Swap Facilities

Date 11/05/2010

The Federal Reserve on Tuesday publicly released the text of three agreements with foreign central banks to reestablish temporary dollar swap facilities and announced that, starting Thursday, it would disclose information weekly on use of the swap lines by each of the counterparty central banks.
Testimony Of CFTC Chairman Gary Gensler Before The House Of Representatives Committee On Financial Services, Subcommittee On Capital Markets, Insurance, And Government Sponsored Enterprises, May 11, 2010

Date 11/05/2010

Good afternoon Chairman Kanjorski, Ranking Member Garrett and members of the Subcommittee. I thank you for inviting me to today’s hearing on the unusual volatility in the capital markets last week. I also am pleased to testify alongside Securities and Exchange Commission Chairman Mary Schapiro. Staff of the Commodity Futures Trading Commission (CFTC) and SEC have been in constant communication since Thursday afternoon. We will continue to work closely together to review the events of last week a
New York Attorney General Cuomo Sues Bank Of New York Mellon Unit For Deceiving Clients In Connection With Madoff-Related Investments - Internal E-Mails Reveal Ivy Asset Management and Its Co-Principals Deliberately Misled Clients - Ivy’s Years Of Fraud C

Date 11/05/2010

Attorney General Andrew M. Cuomo today filed a lawsuit against Ivy Asset Management, LLC (“Ivy”), its former Chief Executive Officer Lawrence Simon, and its former Chief Investment Officer Howard Wohl, for deliberately misleading clients about investments tied to Bernard L. Madoff. The suit alleges that Ivy and the two principals kept their clients in the dark about damaging financial information about Madoff so Ivy could bring in millions in advisory fees.

Statement Of CFTC Commissioner Michael V. Dunn On Meeting To Discuss Significant Price Discovery Contracts

Date 11/05/2010

When the initial legislation creating Significant Price Discovery Contracts (SPDC) was enacted, I was under the impression that there might be a half-dozen contracts that would fall into this category. The 90 plus ECM contracts initially identified as potential SPDCs and the subsequent in-depth analysis and Federal Register (FR) release of 41 of these contracts, frankly took me by surprise.
SIFMA Securitization Group Comments On FDIC Proposal

Date 11/05/2010

The Securities Industry and Financial Markets Association (SIFMA) today issued the following statement from Richard Dorfman, managing director and head of the SIFMA Securitization Group (SSG), in response to the Federal Deposit Insurance Corporation’s (FDIC) notice of proposed rulemaking regarding treatment of a bank's securitizations in the event of a conservatorship or receivership:“SIFMA strongly supports reasonable efforts to restore and reshape the securitization market. Securitiz
Statement Of CFTC Commissioner Bart Chilton Regarding The Market Events Of May 6th

Date 11/05/2010

I commend CFTC Chairman Gensler, SEC Chairman Shapiro and Secretary Geithner for their tireless efforts (and those of their staffs) related to the serious and significant market events of May 6th. As we go forward, I am hopeful that we look at four areas of critical importance.
BM&FBOVESPA Announces April 2010 Market Performance

Date 11/05/2010

This month’s highlights: DMA trading reaches historic records in the BM&F segment; Securities lending registers record financial volume. In April 2010, equity markets (Bovespa segment) reached a total volume of BRL 138.74 billion, in 8,098,072 trades, with daily averages of BRL 6.93 billion and 404,904 trades, respectively. In March, total volume reached BRL 148.81 billion, 9,038,122 tr
Michel Barnier Member Of The European Commission Responsible For The Internal Market And Services Building A New Financial Framework Together European Institute Washington, 11 May 2010

Date 11/05/2010

Ladies and gentlemen,1. The US and the EU: stronger togetherI am honoured to be here today.To share some views on US-EU relations. Specifically in relation to the financial crisis and our joint efforts to reform the global financial system.This is my first trip outside Europe as Commissioner.