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Date 23/12/2003

SEC Halts $800 Million Investment Fraud In Orange County

The Securities and Exchange Commission announced today the filing of charges to halt a fraudulent scheme in which over 5,200 investor accounts purportedly hold investments of over $813 million through an Orange County, Calif., business known as Financial Advisory Consultants (FAC). The SEC's complaint, filed yesterday in federal district court, names James P. Lewis, Jr., of Laguna Niguel, Calif., who allegedly has sold securities in two funds, known as the Income Fund, Ltd. and the Growth Fund,
Date 23/12/2003

SEC Files Emergency Action Against Security Brokerage, Inc. And Daniel Calugar For Engaging In Mutual Fund Late Trading And Market Timing Schemes - Court Orders Immediate Freeze Of Defendants' Assets And Orders Defendants Not To Destroy Documents

The Securities and Exchange Commission yesterday filed civil fraud charges against Security Brokerage, Inc. of Las Vegas and its president and majority owner, Daniel Calugar, for their participation in a scheme to defraud mutual fund shareholders through improper late trading and market timing. From at least 2001 to 2003, Calugar, trading through Security Brokerage, reaped profits of approximately $175 million from improper late trading and market timing, principally through mutual funds managed
Date 23/12/2003

Santa Claus Makes His First Stop To Ring The Closing Bell<SUP>™</SUP> At The NYSE

In celebration of the Christmas holiday, the Exchange will close at 1:00 p.m. on December 24 and Santa Claus will ring the Closing Bell.
Date 23/12/2003

S&P Equity Market Analysts Reports Pension Under-Funding At Historic High Despite Market Gains; New Reporting Requirements By FASB To Offer Investors More Insight Into Pensions

Standard & Poor's, the independent financial research, ratings and indices leader, today announced research from its Investment Services division showing that pension funding continued to deteriorate through 2003 even given sharp market increases. Despite the first market gain since 1999, pension under-funding in the S&P 500 grew to a record $259 billion from $212 billion in 2002.
Date 23/12/2003

OMHEX Completes Overview Of Energy Product Portfolio

As a part of OMHEX's (then OM) streamlining program announced on June 30, 2003, OMHEX has conducted an overview of the products and operations within the Energy product portfolio. The overview has resulted in the following:

Date 23/12/2003

NYSE Closed On December 25 - Early Closure On December 24 And 26

The Exchange will be closed on December 25, 2003 for Christmas and will close early on December 24th and 26th.
Date 23/12/2003

LCH.Clearnet Merger Completes

Euronext NV welcomes the announcement by The London Clearing House ("LCH") that the merger of LCH and Clearnet has been completed yesterday as scheduled to create Europe's leading provider of clearing and central counterparty services.
Date 23/12/2003

ICEX News & Views

ICEX co-operation with VP in Denmark, business hours during the holiday season and report on corporate governance are the subjects of this issue.
Date 23/12/2003

Hong Kong Futures Exchange Announces Revised Margins For H-Shares Index Futures Contract

Hong Kong Futures Exchange Limited (HKFE), a wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited (HKEx), announced that with effect from the commencement of trading on Monday, 29 December 2003, the minimum margins to be collected by an Exchange Participant from its clients in respect of their dealings in the following futures contract will be as outlined in the table below. The adjustments are based on the clearing company's normal procedures and standard margining methodology.
Date 23/12/2003

Copenhagen Stock Exchange: Four 'SKAGEN Fondene' Admitted To The XtraMarked

On 5 January 2004, the Copenhagen Stock Exchange will be admitting four investment funds from Norwegian SKAGEN Fondene to the XtraMarked - the Exchange's authorised market place for non-stock market listed investment funds.