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CFTC: Federal Court Orders Ohioans Kevin And Keelan Harris, Canada-Based Karen Starr, And Their Companies, Complete Developments, LLC And Investment International Inc., To Pay Over $23 Million For Fraud In Foreign Currency Ponzi Scheme

Date 13/05/2013

The U.S. Commodity Futures Trading Commission (CFTC) obtained a federal court Judgment requiring Defendants Kevin Harris, Keelan Harris, Complete Developments, LLC (CDL), andInvestment International Inc. (a/k/a/ I3), all of Warren, Ohio, and Karen Starr of Barrie, Ontario, Canada, collectively to pay restitution and civil monetary penalties of over $23 million for solicitation fraud and misappropriation in connection with operating a multi-million dollar off-exchange foreign currency (forex) Ponzi scheme (see CFTC Release 5921-10 , October 7, 2010).
TABB Group CEO Says Questionable Effectiveness Of SEC’s Reg. NMS Rules Needs To Be Investigated - Market Structure Expert Frames The Contentious Debate On Impact Of The SEC’s 2006 Regulations Many Blame For Degrading The Quality Of The US Equity Markets

Date 13/05/2013

In a market structure-focused research report published today, Larry Tabb, founder and CEO of TABB Group, the capital markets research and consulting firm, addresses the need to rethink how markets should operate and tweak, or even scrap, Regulation National Market System (Reg. NMS) that so many institutions have come to loath.
Federal Reserve Board Announces That Results Of Company-Run, Midyear Stress Tests Are Due On July 5

Date 13/05/2013

Eighteen large U.S. bank holding companies are required to submit the results of their company-run, midyear stress tests to the Federal Reserve on July 5, the Federal Reserve said in instructions to those firms Monday.
ISDA Publishes ISDA 2013 Reporting Protocol And Side Letters

Date 13/05/2013

The International Swaps and Derivatives Association, Inc. (ISDA) today announced the launch of the ISDA 2013 Reporting Protocol.
Georgia Southern University Commencement Address: Preparing For Challenges And Opportunities By Commissioner Luis A. Aguilar

Date 13/05/2013

Good morning. Thank you for that kind introduction. Before I begin, I want to recognize President Keel, and the faculty, parents, families, and friends who are here today. Most importantly, I want to congratulate the Georgia Southern University graduating class of 2013. It is a great honor to be your commencement speaker.

FESE Response To IOSCO Consultation Report: Regulatory Issues Raised By Changes In Market Structure

Date 13/05/2013

FESE welcomes the work by IOSCO to identify and analyse the various regulatory issues raised by changes in market structure. Currently, European legislators are negotiating the review of the Markets in Financial Instruments Directive (MIFID I). In its proposal for a new MiFID (MiFID II), the European Commission has stated that ‘market and technological developments have outpaced various provisions in MiFID’. FESE supports the goals of the MiFID Review to further the integration, competitiveness, and efficiency of European markets. However, given the increased levels of competition and the subsequent fragmentation in European markets this IOSCO consultation is a timely contribution to examine how best to assist market authorities in relation to issues raised by market fragmentation.
Remarks At SRO Outreach Conference By SEC Commissioner Elisse B. Walter

Date 13/05/2013

Good morning everyone and welcome. A special welcome to the clearing agencies, for whom this is your first SRO Outreach Conference, and to the newest exchange — MIAX.
ISE President And CEO Gary Katz To Participate In Equity Market Structure Roundtable

Date 13/05/2013

The International Securities Exchange (ISE) announced that President and CEO Gary Katz will participate in an Equity Market Structure Roundtable that will take place today in New York. Hosted by Representative Scott Garrett (R-NJ), Chairman of the Financial Services Subcommittee on Capital Markets and Government-Sponsored Enterprises, the purpose of the roundtable is to facilitate dialogue about current market structure issues and opportunities to improve existing regulations. Mr. Katz will speak on a panel on the topic of "Creating a Level Playing Field for Equity Market Participants."
CBOE Wins In S&P Index Dispute

Date 13/05/2013

The Chicago Board Options Exchange (CBOE) announced today that the Supreme Court of the United States denied the International Securities Exchange's (ISE) petition to review the Illinois Appellate Court's decision that permanently restrained and enjoined ISE from listing or providing an exchange market for the trading of S&P 500 Index (SPX) and Dow Jones Industrial Average (DJX) options and enjoined OCC from issuing, clearing or settling the exercise of such ISE options. This brings to a close over six years of litigation.
BME Welcomes “Reform Of Registration, Clearing And Settlement System” By CNMV

Date 13/05/2013

BME welcomes the publication by the Spanish Stock Market regulator, the CNMV, of the document “The reform of the Registration, Clearing and Settlement System”, whose aim is to show the main progress made in the development of the new Securities Clearing, Settlement and Registration System of the Spanish Market.