News Centre

U.S. Agencies Issue FAQ Document Regarding Collateralized Debt Obligations Backed By Trust Preferred Securities Under Final Rules Implementing The “Volcker Rule”

Date 19/12/2013

Three federal financial institution regulatory agencies today issued a FAQ (Frequently Asked Questions) document to provide clarification and guidance to banking entities regarding investments in "Covered Funds" and whether collateralized debt obligations backed by trust preferred securities (TruPS CDOs) could be determined to be Covered Funds under the final rules to implement section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act.

U.S. Federal Financial Regulators Extend Comment Period For Proposed Policy Statement On Assessing Diversity Policies And Practices Of Regulated Entities

Date 19/12/2013

Six federal financial regulatory agencies announced today that they are extending the comment period for their proposed policy statement for assessing diversity policies and practices of the institutions they regulate to allow the public more time to analyze the issues and prepare their comments.

CBOE Statement On Yesterday's Court Ruling in Favor of S&P Dow Jones Indices Against ISE

Date 19/12/2013

The Chicago Board Options Exchange, Incorporated (CBOE ) announced yesterday that a New York federal judge ruled in favor of S&P Dow Jones Indices (SPDJI) and dismissed an action brought by International Securities Exchange (ISE) that challenged SPDJI's rights to license its indexes for use. The Court observed that ISE was trying "to litigate again the very issues that they lost in the Illinois courts," and the Court ruled, "I hold that ISE cannot do so, that full faith and credit is to be given to the final judgment of the Illinois courts, and that ISE's lawsuit in this court is barred."

SEC Charges ConvergEx Subsidiaries With Fraud For Deceiving Customers About Commissions

Date 19/12/2013

The Securities and Exchange Commission today announced fraud charges against three brokerage subsidiaries and two former employees of a global trading services provider that caused many institutional clients to pay substantially higher amounts than disclosed for the execution of trading orders. 

U.S. Federal Bank Regulatory Agencies Release Annual CRA Asset-Size Threshold Adjustments For Small And Intermediate Small Institutions

Date 19/12/2013

The federal bank regulatory agencies today announced the annual adjustment to the asset-size thresholds used to define small bank, small savings association, intermediate small bank, and intermediate small savings association under the Community Reinvestment Act (CRA) regulations.

CFTC Staff Issues An Extension Of A Time-Limited No-Action Relief To Japan Securities Clearing Corporation And Its Qualifying Participants And Affiliates

Date 19/12/2013

The U.S. Commodity Futures Trading Commission’s (CFTC or Commission) Division of Clearing and Risk (Division) today issued an extension of a time-limited no-action relief to Japan Securities Clearing Corporation (JSCC) and its qualifying participants and affiliates.

SEC Charges Microsoft Senior Manager And Friend With Insider Trading In Advance Of Company News

Date 19/12/2013

The Securities and Exchange Commission today charged a senior portfolio manager at Microsoft Corporation and his friend and business partner with insider trading ahead of company announcements.

Bermuda Stock Exchange Will Be Closed For The Festive Holidays

Date 19/12/2013

The Bermuda Stock Exchange (“BSX”) advises that the BSX will be closed for the Public Holidays on:

1. Christmas Day, Wednesday, 25 December, and Boxing Day, Thursday, 26 December, 2013, and will re-open on Friday, 27 December, 2013; &
2. New Years Day, Wednesday, 01 January, 2014, and will re-open on Thursday, 02 January, 2014.

ICICI Securities Extends FlexTrade Deployment - Renews FlexTRADER EMS For Trading Equities, Options & Futures

Date 19/12/2013

FlexTrade Systems, an international leader in multi-asset execution and order management systems, today announced that ICICI Securities, an integrated financial services firm in India, has extended its agreement to use the FlexTRADER EMS for trading equities, options and futures.  

CFTC: Federal Court In New York Orders Defendant David M. Nunn To Pay A $600,000 Civil Monetary Penalty For Engaging In An Illegal Coffee Futures Trading Scheme And Making False Statements To ICE Futures U.S. - Court Permanently Bans Nunn From Trading Or Registration With The CFTC

Date 19/12/2013

The U.S. Commodity Futures Trading Commission (CFTC) today announced that Judge Lewis A. Kaplan of the U.S. District Court for the Southern District of New York entered a consent Order against David M. Nunn for entering into fictitious sales, engaging in illegal noncompetitive and fictitious trades in coffee futures contracts over a two-year period, and making false statements to representatives of ICE Futures U.S., Inc. (ICE). Nunn is a Vermont resident and a former ICE floor broker.