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Thailand Futures Exchange To Start Accepting Brokers Early Next Year - Is Preparing All Work Systems And Human Resources For Index Futures Trading

Date 16/12/2004

Thailand Futures Exchange Pcl. (TFEX) will start accepting brokers for derivatives trading in early 2005. It has been preparing all work systems and human resources on both the brokerage and investor sides to be ready for the trading of its first product, index futures.
Stockholm Stock Exchange Intends To Incorporate The Swedish Corporate Governance Code Into Its Regulations

Date 16/12/2004

Stockholm Stock Exchange welcomes the code of corporate governance for Swedish companies and intends to incorporate it into the Exchange Rules. Initially, the Exchange wants the code to be applied for companies on the A-list and large companies on the O-list. A dialog with representatives of the listed companies regarding amendments of the Exchange Rules will be initiated immediately after the Christmas holiday period.
Stock Exchange Of Thailand Announces Securities To Be Included In SET50 Index Calculation In 1st Half of 2005, Effective 1 January

Date 16/12/2004

Executive Vice President of The Stock Exchange of Thailand (SET) Mr. Suthichai Chitvanich disclosed that, starting from January 1, 2005, the SET will adjust the list of securities to be included in the SET50 Index calculation for 1H/2005, or from Jan. 1 – Jun. 30, 2005. The SET has selected eligible securities based on their market capitalization and trading liquidity data collected between December 1, 2003 – November 30, 2004.
Share Changes In The S&P/ASX 50 Index

Date 16/12/2004

Standard & Poor’s will make the following changes in the S&P/ASX 50 Index effective after the close of trading Tuesday December 21th, 2004:
SEC: Office Of The Chief Accountant Issues Statement On Fannie Mae Accounting

Date 16/12/2004

Donald T. Nicolaisen, Chief Accountant for the Securities and Exchange Commission (Commission), issued the following statement regarding the compliance of the Federal National Mortgage Association's (Fannie Mae) accounting practices for deferred purchase price adjustments and for derivatives and hedging activities with Statement of Financial Accounting Standards No. 91, "Accounting for Nonrefundable Fees and Costs Associated with Originating or Acquiring Loans and Initial Direct Costs of Leases"

SEC, NASD Sanction Knight Securities $79 Million For Fraudulent Sales To Institutional Customers - Includes $25 Million In Fines, $41 Million In Ill-Gotten Gains, $13 Million In InterestNASD Investigation Into Activities Of Individuals Involved In Scheme

Date 16/12/2004

The Securities and Exchange Commission (SEC) and NASD announced today that Knight Securities, L.P., now known as Knight Equity Markets, L.P. will pay over $79 million to settle charges that it defrauded its institutional customers. Under this joint settlement, Knight will pay a $12.5 million fine to NASD and a $12.5 million civil penalty to the SEC. Knight is also ordered to pay $41 million in ill-gotten profits and $13 million in prejudgment interest into a Fair Fund established by the SEC fo
SEC Establishes Advisory Committee To Examine Impact Of Sarbanes-Oxley Act On Smaller Public Companies

Date 16/12/2004

Securities and Exchange Commission Chairman William H. Donaldson today announced the establishment of an advisory committee to assist the Commission in examining the impact of the Sarbanes-Oxley Act and other aspects of the federal securities laws on smaller public companies.
SEC Chief Accountant Statement On FASB Statement No. 123(R), Share-Based Payment

Date 16/12/2004

Earlier today, the Financial Accounting Standards Board (FASB) issued its Statement of Financial Accounting Standards No. 123 (revised 2004), Share-Based Payment (Statement 123R), which addresses the accounting for employee stock options. The Commission's Chief Accountant, Donald T. Nicolaisen, issued the following comments on Statement 123R:
SEC And NASD File Fraud Case Against Knight Securities, L.P. - Knight Settles And Agrees To Pay $79 Million In Disgorgement And Penalties

Date 16/12/2004

The Securities and Exchange Commission today announced the settlement of civil fraud charges against Knight Securities, L.P. The Commission issued an Order that found that Knight defrauded its institutional customers by extracting excessive profits out of its customers' orders while failing to meet the firm's duty to provide "best execution" to the institutions that placed those orders. Without admitting or denying the SEC's findings, Knight, now known as Knight Equity Markets, L.P., agreed to p
Program Trading Averaged 54.1 Percent Of NYSE Volume During Dec. 6-10

Date 16/12/2004

The New York Stock Exchange today released its weekly program-trading data submitted by its member firms. The report includes trading in all markets as reported to the NYSE for Dec. 6-10.