News Centre

SIFMA Statement Urging Swift Passage Of A Debt Ceiling Deal

Date 11/02/2014

SIFMA today released the following statement from Kenneth E. Bentsen, Jr., president and CEO, on the debt ceiling:

"SIFMA strongly urges the Congress and President to work together and reach a prompt agreement on the debt ceiling.  A default and failure to pay on a Treasury security is an unprecedented event with unpredictable consequences on the global financial system.  Our debt is the currency of the world and default should never be an option. Congress and the Administration must not delay any further to avoid market disruption and a negative hit to the economy.” 

Two Hong Kong-Based Firms To Pay $11 Million For Insider Trading Ahead Of Nexen Acquisition By Company In China - SEC’s Quick Action After Trades Prevented Illegal Profits

Date 11/02/2014

The Securities and Exchange Commission today announced that two Hong Kong-based asset management firms whose accounts were frozen in a major insider trading case have agreed to pay nearly $11 million to settle the charges against them.

SIFMA Recommends Full Market Close On February 17 for Trading Of US Dollar-Denominated Fixed-Income Securities In Observance Of The Presidents Day Holiday

Date 11/02/2014

SIFMA has confirmed its previous recommendation for a full market close on Monday, February 17 for the trading of US dollar-denominated fixed-income securities in the United States, the United Kingdom and Japan in observance of the U.S. Presidents' Day Holiday. 

Statement On Verdict In Jury Trial Of Fund Manager Involved In Petters Ponzi Scheme - Andrew Ceresney Director, SEC Division of Enforcement, Feb. 11, 2014

Date 11/02/2014

"We’re very pleased the jury found Marlon Quan liable for securities fraud and that he will be held accountable for his deception in funneling several hundred million dollars of investor money into the Tom Petters Ponzi scheme."

Direct Edge Trading Notice #14-04: Market Holiday Reminder – President’s Day

Date 11/02/2014

BATS BYX Exchange, BATS BZX Exchange, EDGA Exchange, EDGX Exchange, and BATS Options will be closed on Monday, February 17, 2014 in observance of Presidents’ Day.  Normal trading will resume Tuesday, February 18, 2014.

Federal Court Orders North Carolina Resident Michael Anthony Jenkins And His Company, Harbor Light Asset Management, To Pay Over $5.2 Million For Solicitation Fraud, Misappropriation, And Embezzlement In A Ponzi Scheme

Date 11/02/2014

The U.S. Commodity Futures Trading Commission (CFTC) today announced that Judge James C. Fox of the U.S. District Court for the Eastern District of North Carolina entered an Order for a permanent injunction against Defendants Harbor Light Asset Management, LLC (HLAM) and its President and owner, Michael Anthony Jenkins, both of Raleigh, North Carolina. The Order requires HLAM and Jenkins jointly to pay restitution totaling $1,301,406.60 and a civil monetary penalty of $3,904,219.80. The Order also imposes permanent trading and registration bans against the Defendants and prohibits them from violating the Commodity Exchange Act and CFTC Regulations, as charged.

Hogan Lovells: Survey: Cross-Border Litigation On The Rise - Many Corporations Identify Legal Systems In The U.S. And China As The Most Challenging

Date 11/02/2014

Complex and costly cross-border legal disputes are projected to grow significantly in the years ahead, according to a new survey of multinational corporations. At the top of many companies' list of most challenging legal systems: China, India, Brazil, and the United States. 

SEC Names Michael Maloney As New Chief Accountant in Enforcement Division

Date 11/02/2014

The Securities and Exchange Commission today announced that Michael F. Maloney has been named the new chief accountant in the SEC’s Division of Enforcement.

ESMA Provides Further Details On Trade Reporting In updated EMIR Q&A

Date 11/02/2014

The European Securities and Markets Authority (ESMA) has issued today updated Question & Answers (Q&As) on the implementation of the European Markets Infrastructure Regulation (EMIR). These updated Q&As clarify, among others, issues related to reporting to trade repositories (TRs) such as on how to construct and generate Unique Trade Identifiers (UTI), the reporting of empty/not available fields and the UPI taxonomy.

SIX Swiss Exchange - January 2014: Strong Start to The Year

Date 11/02/2014