News Centre

SEC Charges Chicago-Based Consulting Firm And Executives With Accounting Violations

Date 19/07/2012

The Securities and Exchange Commission today charged a Chicago-based consulting firm and two of its former executives with accounting violations that overstated the company’s income for multiple years.

SIFMA Statement On Eminent Domain And TBA Trading

Date 19/07/2012

SIFMA today issued the following statement on eminent domain and TBA trading: 

Recent press reports have discussed SIFMA's consideration of the potential impact of a seizure of mortgage loans through an eminent domain process on the To-Be-Announced (TBA) markets for Mortgage-Backed Securities (MBS).  The reports correctly note SIFMA and its members' strong concerns with and objections to such proposed policies that involve the use of involuntary seizures under eminent domain powers. SIFMA's existing TBA trading practice guidelines do not currently contemplate such actions and their impact on the homogeneity of loans eligible for TBA delivery needs to be assessed.  Therefore, SIFMA necessarily discussed this issue with its members. 

SEC Charges CEO With Insider Trading In Secondary Offering Of Company Stock

Date 19/07/2012

The Securities and Exchange Commission today charged the chairman and CEO of a Santa Ana, Calif.-based computer storage device company with insider trading in a secondary offering of his stock shares with knowledge of confidential information that a major customer’s demand for one of its most profitable products was turning out to be less than expected.

KCBT Raises Minimum Margins For HRW Wheat Old Crop/New Crop Spreads

Date 19/07/2012

The Kansas City Board of Trade has raised its minimum margins for the hard red  winter wheat futures contract and wheat calendar swaps old crop/new crop  spreads.

SEC Veteran Michele Wein Layne Named Director Of Los Angeles Office

Date 19/07/2012

The Securities and Exchange Commission today announced that Michele Wein Layne  has been named Regional Director of the Los Angeles Regional Office and will  begin her new role immediately.

OCC Announces Its Designation As A Systemically Important Financial Market Utility

Date 19/07/2012

On July 18 OCC  received notice it has been designated as a systemically important Financial Market Utility (SIFMU) by the Financial Stability Oversight Council (FSOC) as part of the Dodd-Frank financial overhaul law.

“The True Sign of Intelligence” - Remarks By CFTC Commissioner Scott D. O’Malia, Stevens Institute Of Technology- Hanlon Financial Systems Lab

Date 19/07/2012

Albert Einstein said, “The true sign of intelligence is not knowledge but imagination.”  I like the quote very much, and it reminds me of how the Commission must approach its oversight mission going forward.  I believe technology must play a larger and more foundational role in the Commission's execution of its market oversight responsibilities, risk management and in the protection of customer funds.

European Central Bank Governing Council Appoints Members Of The New T2S Board

Date 19/07/2012

The Governing Council of the European Central Bank (ECB) appointed the members of the T2S Board, the new management body for the TARGET2-Securities (T2S) Programme. The T2S Board has been established by the Eurosystem to be a streamlined management body for T2S and its responsibilities will include developing proposals for the Governing Council on key strategic issues and executing tasks assigned to it by the Governing Council, as laid down in the ECB Decision 2012/235/EU of 29 March 2012 on the establishment of the T2S Board. The new body takes over the role fulfilled so far by the T2S Programme Board.

Canadian Securities Regulators Announce Results Of Continuous Disclosure Reviews For Fiscal 2012

Date 19/07/2012

The Canadian Securities Administrators (CSA) today published Staff Notice 51-337 Continuous Disclosure Review Program Activities for the fiscal year ended March 31, 2012, which summarizes the results of the CSA’s continuous disclosure (CD) review program.

Program Trading Averaged 29.2 Percent Of NYSE Volume During July 9-13

Date 19/07/2012

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 July 9-13.