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FINRA Orders Stifel, Nicolaus And Century Securities To Pay Fines And Restitution Totaling More Than $1 Million For Unsuitable Sales Of Leveraged And Inverse Etfs, And Related Supervisory Deficiencies

Date 09/01/2014

The Financial Industry Regulatory Authority (FINRA) today announced that it has ordered two St. Louis-based broker-dealers – Stifel, Nicolaus & Company, Incorporated and Century Securities Associates, Inc. – to pay combined fines of $550,000 and a total of nearly $475,000 in restitution to 65 customers in connection with sales of leveraged and inverse exchange-traded funds (ETFs). Stifel and Century are affiliates and are both owned by Stifel Financial Corporation.

Program Trading Averaged 27.0 Percent Of NYSE Volume During Dec. 30-Jan. 3

Date 09/01/2014

The New York Stock Exchange, a subsidiary of NYSE Euronext (NYX), today released its weekly program-trading data compiled from member firms’ executed volume from NYSE’s orders database. The report includes trading on the NYSE for Dec. 30-Jan. 3.

CFTC Extends Public Comment Period On Proposed Amendment To Aggregation Policy Under Part 150

Date 09/01/2014

The Commodity Futures Trading Commission (Commission) announced today that it will extend the comment period on its proposed amendment to rules on aggregation for the position limits in part 150 of its regulations to February 10, 2014. The comment period had been set to close on January 14, 2014.

Europe Strengthens Its Carbon Market For A Competitive Low-Carbon Economy

Date 09/01/2014

The European Commission welcomes today's vote by EU governments gathered in the Climate Change Committee to postpone the sale of 900 million carbon allowances in the 3rd phase of the EU's Emissions Trading System (EU ETS) which runs up to 2020. This marks a key step in restoring the short term balance in the European carbon market and sets the stage for the proposal of a further structural measure shortly.

New Fund On London Stock Exchange Gives Investors Access To Chinese Stock Markets - Landmark Agreement Means From Today, Investors Able To Invest In Chinese Stock Markets In Renminbi Through The London Stock Exchange

Date 09/01/2014

A landmark agreement between two UK and Chinese firms means that from today (9 January 2014), for the first time, investors will be able to invest in Chinese Stock markets in Renminbi through the London Stock Exchange (LSE). 

Towards The Creation Of The Swiss Power Exchange - Swiss Stakeholders And EPEX SPOT Discuss Market Coupling On Swiss Borders

Date 09/01/2014

he European Power Exchange EPEX SPOT, together with Swiss stakeholders, has held a press conference today in Bern. In the media briefing participated:

• Dr. Walter Steinmann, Managing Director of the Federal Office of Energy (Bundesamt für Energie – BFE),
• Carlo Schmid-Sutter, President of the national regulatory authority Federal Electricity Commission (Eidgenössische Elektrizitätskommission – ElCom),
• Pierre-Alain Graf, CEO of transmission system operator Swissgrid,
• and Jean-François Conil-Lacoste, Chairman of the Management Board of EPEX SPOT.

December 2013: Economic Sentiment Rises Further In Both The Euro Area And The EU

Date 09/01/2014

In December the Economic Sentiment Indicator (ESI) increased by 1.6 points in the euro area (to 100.0) and 1.4 points in the EU (to 103.5). Sentiment in the euro area is thus back to its long-term average for the first time since July 2011. In the EU, the average had already been passed in September.

SEC Charges Alcoa With FCPA Violations

Date 09/01/2014

The Securities and Exchange Commission today charged global aluminum producer Alcoa Inc. with violating the Foreign Corrupt Practices Act (FCPA) when its subsidiaries repeatedly paid bribes to government officials in Bahrain to maintain a key source of business. 

Moscow Exchange Trading Volumes Up 24% YoY In December

Date 09/01/2014

Moscow Exchange's turnover increased 24% YoY in December to RUB 46.6 trln.

Leading European Parliamentary Committee Backs Criminal Sanctions For Market Abuse

Date 09/01/2014

The leading committee of the European Parliament for Economic matters has today given its support to a European Commission proposal for criminal sanctions to tackle the abuse and manipulation of financial markets (IP/11/1218). The Parliament’s Economic & Monetary Affairs Committee (ECON) unanimously backed an agreement on the proposal reached with Member States, represented in the Council of Ministers, late last year (IP/13/1299). Under the new rules for countering insider dealing and market abuse, Member States will have to make sure that such behaviour, including the manipulation of benchmarks, is a criminal offence, punishable with effective sanctions everywhere in Europe. The agreement is now expected to be confirmed by the European Parliament in plenary in February 2014.