FTSE Mondo Visione Exchanges Index:
News Centre
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SEC Charges Joseph S. Forte For Conducting Multi-Million Dollar Ponzi Scheme
Date 08/01/2009
The Securities and Exchange Commission has charged a Philadelphia-area investment fund manager and his firm for conducting a multi-million dollar Ponzi scheme, and has obtained an emergency court order freezing their assets.
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CFTC Charges Philadelphia-Area Resident With Operating $50 Million Ponzi Scheme - Joseph S. Forte Confesses To Fraud Scheme And Failing To Register With The CFTC
Date 08/01/2009
The U.S. Commodity Futures Trading Commission (CFTC) announced today that it charged Joseph S. Forte of Broomall, Pennsylvania with operating a Ponzi scheme involving approximately $50 million in connection with the unregistered Joseph Forte, L.P. commodity futures pool. Forte recently confessed to federal authorities in the wake of the scheme’s collapse. The CFTC’s complaint charges Forte with: solicitation fraud; misappropriation of pool funds; sending customers false account s
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SEC Approves FINRA Rule To Drastically Limit Motions To Dismiss In Arbitration - Abusive Motions To Dismiss Cases Will Face Stringent Sanctions
Date 08/01/2009
The Financial Industry Regulatory Authority (FINRA) today announced that the Securities and Exchange Commission (SEC) has approved an important change FINRA requested to its dispute resolution rules that will significantly reduce the frequency of motions to dismiss arbitration cases before investors have a chance to present their case.
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London Metal Exchange Increases Order To Trade Ratio Policy
Date 08/01/2009
Following the successful implementation of LMEselect release 6, the London Metal Exchange has amended its order to trade ratio policy on LMEselect. With effect from Monday 5 January, the ratio of order to trade for Primary Aluminium and Copper Grade A contracts has increased to 20 order actions to one trade. The increase applies only to transactions between 08.00-18.00 hours London time. The order to trade ratio for all other metals, plastics, steel, index and LMEmini contracts remains at 12
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“Whilst The Credit Crunch Continues To Blunt The Effectiveness Of Interest Rate Reductions, The MPC Will Be Tempted To Follow The US Federal Reserve’s Example And Pursue Quantitative Easing” - Edward Menashy - Chief Economist Of Charles Stanley
Date 08/01/2009
“The continued deterioration in the UK economy has pushed the Monetary Policy Committee (MPC) to cut base rates to 1.5% down 0.5 basis points since the December 2008 meeting. This reduction marks the lowest level of interest rates since the Bank of England was founded in 1694,” says Edward Menashy, Chief Economist at Charles Stanley.
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NASDAQ OMX Introduces A Government Relief Index - New Benchmark Tracks Companies That Are Participating In The U.S. Government's Financial Relief Plan
Date 08/01/2009
The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) today introduced the NASDAQ OMX Government Relief Index(sm) (Nasdaq:QGRI). The index enables investors to track the performance of U.S.-listed securities that are participating in U.S. government sponsored relief programs such as the Troubled Asset Relief Program (TARP) or other direct gov
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Warsaw Stock Exchange: A New IPO Partner From Ukraine – Financial Company Ukranet
Date 08/01/2009
On 7 January 2009, Financial Company Ukranet with its seat in Kyiv, Ukraine was approved by the WSE Management Board into the WSE IPO Partner Programme aimed to attract foreign companies to the Warsaw Stock Exchange. Financial Company Ukranet is the 17th WSE IPO Partner and the 8th Partner from Ukraine.
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UK’s Financial Services Authority Fines Aon Limited £5.25m For Failings In Its Anti-Bribery And Corruption Systems And Controls
Date 08/01/2009
The Financial Services Authority (FSA) has today fined Aon Limited (Aon Ltd) £5.25 million for failing to take reasonable care to establish and maintain effective systems and controls to counter the risks of bribery and corruption associated with making payments to overseas firms and individuals.
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Bank Of England Reduces Bank Rate By 0.5 Percentage Points To 1.5%
Date 08/01/2009
The Bank of England’s Monetary Policy Committee today voted to reduce the official Bank Rate paid on commercial bank reserves by 0.5 percentage points to 1.5%.
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European Energy Exchange: Increase In Trade Volumes Continued In 2008 Power Spot Market Grew By Almost 25 Percent
Date 08/01/2009
European Energy Exchange AG (EEX) has continued the positive trend in trading and concluded the year 2008 with yet another increase in its volumes both on the Spot and on the Derivatives Market. The trade volume in power increased to 1,319 TWh, which corresponds to a gain of 3.6 percent as against the previous year (1,273 TWh).<
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