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Clearstream's Reputation Is Cleared As Luxembourg Investigation Closes

Date 30/11/2004

The investigative authority in Luxembourg has formally cleared Clearstream of any wrongdoing following detailed investigation after false allegations were published in the books entitled 'Révélation$' and 'La Boîte Noire'. The authority has confirmed to Clearstream that investigation is now completed and closed. Already in July 2001 the Luxembourg prosecutor had concluded there was no evidence of systematic money laundering within Clearstream. Following over three years of detailed inve
CESR Consults On Potential Regulatory Approaches For Credit Rating Agencies

Date 30/11/2004

CESR published today a consultation paper which discusses the issue of how to deal with credit rating agencies in a regulatory context within Europe. In particular, whether there are any market failures and whether there is a need for the introduction of some sort of recognition and/or regulation of rating agencies as these are generally not regulated in Europe today. CESR must provide its advice to the European Commission by 1 st of April 2005, which will then assess the need, or not, for intro
CBOT Sets New Trading Record; Volume Surpasses 5.7 Million

Date 30/11/2004

The Chicago Board of Trade (CBOT) announced today that the exchange yesterday experienced its best ever volume in a single day, surpassing 5.7 million contracts traded for the first time in its history. Additionally, the exchange’s premier electronic trading platform, as well as the CBOT U.S. Treasury complex, shattered previous volume records.
Amsterdam Derivatives Products Successfully Transferred To LIFFE CONNECT® - Euronext Cash And Derivatives Market Migrations Completed

Date 30/11/2004

On 29 November Euronext.liffe Amsterdam successfully migrated its derivatives products on to Euronext’s derivatives trading system: LIFFE CONNECT®.
UK’s HM Treasury Announces New Non-Executive Directors Of The Financial Services Authority

Date 29/11/2004

The Financial Secretary to the Treasury Stephen Timms today announced that Karin Forseke and Michael Slack have been appointed Non-executive Directors of the FSA.

UK’s Financial Services Authority Rules Herald New Era Of Financial Advice

Date 29/11/2004

A new era of financial advice will begin on December 1st when the FSA's rules allowing depolarisation come into effect. The new regulations, detailed in today's policy statement, remove the artificial restrictions of the old system of 'polarisation', increasing the range of products available to consumers as well as giving them a clearer picture of what they are paying for advice.
UK’s Financial Services Authority Censures The Underwriter And Fines Its Former CEO Mr Keith John Rutter £20,000

Date 29/11/2004

The FSA has today imposed a statement of public censure on The Underwriter Insurance Company Limited (The Underwriter) and fined its former CEO Mr Keith John Rutter (Mr Rutter) £20,000. These actions relate to steps taken by The Underwriter in 2001 and 2002, when Mr Rutter was CEO, which had the effect of circumventing regulatory requirements set by the FSA.
The Spanish Stock Exchange Trades 72 New Warrants Issued By Banesto And Commerzbank - The Number Of Warrants Admitted To Trading Up To November Amounts To 1,469, Which Exceeds By 50% All The Warrants Listed All Through 2003

Date 29/11/2004

The Spanish stock exchange today began trading 72 new warrants issued by Banesto Banco de Emisiones and 45 by Commerzbank.. The issue is linked to a wide scope of underlying assets, among which there are domestic and foreign shares and indices.
Thailand’s Listed Firms To Gain Tax Privileges Corresponding To Their Paid-Up Capital Under The New Listing Rules

Date 29/11/2004

Starting from January. 1, 2005, onwards new listing requirements will apply for companies seeking listing on the SET and the mai. The new listing requirements will bring with them new tax privileges corresponding to the paid-up capital of the companies seeking listing. Firms wishing to list using the current rules must notify the SET by no later than November 30, 2004.
Standard & Poor’s Announces Changes to U.S. Indices

Date 29/11/2004

Standard & Poor’s hereby announces changes to the S&P 500 and S&P SmallCap 600 Indices. Both company additions will be made at full market cap weight, and are as follows: