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  • Outside Directors Of Mercury Interactive Settle SEC Charges Of Stock Option Backdating

    Date 17/09/2008

    The Securities and Exchange Commission today filed settled charges against Igal Kohavi, Yair Shamir, and Giora Yaron, three former outside directors of California-based software maker Mercury Interactive, LLC. The SEC's complaint alleges that the outside directors recklessly approved backdated stock option grants, and reviewed and signed public filings that contained materially false and misleading disclosures about the company's stock option grants and company expenses.

  • Greg Kuserk Appointed Deputy Director Of The CFTC’s Market Surveillance Section In The Division Of Market Oversight

    Date 17/09/2008

    The Commodity Futures Trading Commission (CFTC) announced today the appointment of Greg Kuserk as Deputy Director for Market Surveillance in the CFTC’s Division of Market Oversight. Kuserk succeeds John Fenton, who recently retired after a long and distinguished career at the CFTC.

  • Minneapolis Grain Exchange: Settlement Process Enhanced For Hard Red Spring Wheat Contract

    Date 17/09/2008

    New enhancements have been made to the MGEX (Minneapolis Grain Exchange or Exchange) Hard Red Spring Wheat (HRSW) futures contract settlement process. As of Monday, September 15, the HRSW futures contract settles to a volume weighted average settlement price for each individual HRSW futures contract month.

  • SEC: Statement On Proposed Lehman Brothers, Inc. Acquisition By Barclays

    Date 17/09/2008

    Since the decision by Lehman Brothers Holdings, Inc. to file for bankruptcy protection on Sunday, Sept. 14, 2008, the Securities and Exchange Commission has moved swiftly to protect investors' securities and cash. Since Sunday, the SEC has worked closely with lawyers and representatives of Lehman, Barclays, and other interested parties, as well as other U.S. and international regulators, including the U.K. Financial Services Authority, to arrange for the orderly transfer of customer accounts.

  • SEC Issues Clarification On Accounting Issues Relating To Bank Support For Money Market Mutual Funds

    Date 17/09/2008

    The Securities and Exchange Commission’s Office of the Chief Accountant clarified that bank support of money market mutual funds generally does not result in a requirement to present the fund on-balance sheet. As a result of recent market events, it is possible that some money market funds could become exposed to declines in the credit worthiness of troubled assets. To protect investors’ principal investment in these funds, sponsoring financial institutions can provide various types of financ