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Xerox Settles SEC Enforcement Action Charging Company With Fraud - Xerox To Pay Largest Financial Fraud Penalty Ever Against Public Company - Company Agrees To Restatement Of Financial Results, Special Review Of Accounting Controls

Date 12/04/2002

The Securities and Exchange Commission yesterday filed suit against Xerox Corporation in connection with a wide-ranging, four-year scheme to defraud investors. The SEC's complaint alleges that from at least 1997 through 2000, Xerox used a variety of what it called "accounting actions" and "accounting opportunities" to meet or exceed Wall Street expectations and disguise its true operating performance from investors. These actions, most of which violated generally accepted accounting principles (
SWX Swiss Exchange Issues Reprimand To Swiss Life

Date 12/04/2002

The SWX Swiss Exchange has issued a formal reprimand, including public disclosure of the facts, with regard to the 2001 interim financial report of Schweizerische Lebensversicherungs- und Rentenanstalt, Zurich (Swiss Life), due to violation of the SWX Listing Rules. The SWX reprimand pertains to the fact that, in the aforementioned report, the time frame covered by Swiss Life's comparable income and cash flow statements comprised 12 months instead of the prescribed 6 months. The ability to asses
Standard & Poor's Announces Changes In S&P Canadian Indices - Canadian Information Technology Sector

Date 12/04/2002

Standard & Poor's will make the following change in the S&P/TSE Canadian Information Technology Sector: Effective at the close of trading on Monday, April 15, 2002, the following change will take place in the S&P/TSE Canadian Information Technology Sector Index. The weight of Nortel Networks Corporation (TSE: NT) will increase by approximately 5.13% in the S&P/TSE Canadian Information Technology Sector Index. The relative weight change reflects an adjustment to the float shares pur
Securities and Exchange Commission Announces Results Of April 11, 2002 Open Meeting

Date 12/04/2002

The Securities and Exchange Commission (SEC) yesterday voted 3-0 on the following matters: The Commission will issue for comment its proposals to accelerate the periodic report filing dates for domestic issuers and to require disclosure concerning Web site access to these reports. The proposals call for Quarterly reports on Form 10-Q to be filed within 30 calendar days after quarter end instead of the current 45 days; and Annual reports on Form 10-K to be filed w
NYSE To Begin Trading HOLDRS, MidCap SPDR And Select Sector SPDRs

Date 12/04/2002

The New York Stock Exchange on Monday, April 15, will begin trading 17 HOLDRS, the MidCap SPDR and nine Select Sector SPDRs. All 27 exchange-traded fund products begin trading on the basis of unlisted trading privileges (UTP).

Nasdaq Proposes Improvements To Corporate Governance Standards To Benefit Investors. Strengthens Definition Of Independence For Audit Committee Directors; Requires Shareholder Approval Of Officer And Director Stock Option Plans

Date 12/04/2002

The Nasdaq Stock Market, Inc. (Nasdaq®) today announced that the executive committee of its board of directors has approved initial recommendations and ideas from the Nasdaq Listing and Hearing Review Council to enhance corporate governance standards for the companies listed on Nasdaq. These recommendations were sent today to Securities and Exchange Commission Chairman Harvey Pitt in response to his letter to Nasdaq Chairman and CEO Wick Simmons and NYSE Chairman and CEO Richard Grasso on Februa
International Securities Exchange Announces New Chairman And Two Director Appointments - Ivers Riley Succeeds Bill Porter As Chairman

Date 12/04/2002

The ISE announced that at a meeting of its Board of Directors yesterday, Ivers W. Riley was elected as chairman to follow William A. Porter. Mr. Porter, who remains on the board, was ISE's first chairman and a co-founder, while Mr. Riley has served as ISE's vice-chairman since the launch of trading in May 2000. In addition, the Board appointed two new directors: James V. Harkness, chief operating officer of Wolverine Trading, L.P., and Scott Prince, managing director of Goldman, Sachs & Co.
CME's E-Mini S&P 500 Futures Posts Second Consecutive Volume Record. Second Biggest Volume Day for GLOBEX® Electronic Trading

Date 12/04/2002

Trading volume in E-mini S&P 500 futures on Chicago Mercantile Exchange Inc. (CME) rose to a new record for the second consecutive day yesterday, April 11, with 435,039 contracts changing hands. The record surpassed its previous single-day volume record of 417,351 contracts set on April 10.
CFTC Announces The Appointment Of Sandra J. Canery As Director Of The Commission's EEO Office

Date 12/04/2002

Commodity Futures Trading Commission (CFTC) Chairman James E. Newsome announced the appointment of Sandra J. Canery as Director of the CFTC's Office of Equal Employment Opportunity (EEO), effective Monday, April 15, 2002.
CBOT Launches Its First Co-Branded CBOT X-Fund

Date 12/04/2002

The Chicago Board of Trade (CBOT®) today launched the exchange's first co-branded CBOT X-Fund(SM) futures contract, called Zap Futures Extreme CBOT X-Fund. ZAP Futures, a Division of Refco, specializes in professionally managed products and services.