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Second Largest Private Bank In India, ICICI Bank Receives License To Set Up A Branch In Dubai International Financial Centre (DIFC)

Date 22/12/2005

ICICI Bank Limited (“ICICI Bank”), India’s second largest Bank, has enhanced its presence in the region by setting up a branch in Dubai International Financial Centre (DIFC). The license to open a branch was granted by Dubai Financial Services Authority (DFSA). This is in addition to the existing Representative office in the UAE. The services of this branch are available to high net worth clients with liquid assets of US$ 1 million or more.
SEC Sues NCFE Executives For Role In $2.6 Billion Fraud

Date 22/12/2005

The Securities and Exchange Commission today sued top executives of National Century Financial Enterprises, Inc. (NCFE), alleging that they participated in a scheme to defraud investors in securities issued by the subsidiaries of the failed Dublin, Ohio company. NCFE, a private corporation, suddenly collapsed along with its subsidiaries in October 2002 when investors discovered that the companies had hidden massive cash and collateral shortfalls from investors and auditors. The collapse caused i
SEC Charges Veras Capital Master Fund, VEY Partners Master Fund, Veras Investment Partners, LLC, Kevin D. Larson, And James R. Mcbride In Fraudulent Market Timing And Late Trading Scheme - Respondents To Pay Over $35 Million In Disgorgement

Date 22/12/2005

The Securities and Exchange Commission today announced a settled enforcement action against two hedge funds, their investment adviser, and two of its senior executives.
Program Trading Averaged 65.5 Percent Of NYSE Volume During Dec. 12-16

Date 22/12/2005

The New York Stock Exchange today released its weekly program-trading data submitted by its member firms. The report includes trading in all markets as reported to the NYSE for Dec. 12-16.
New York Attorney General Eliot Spitzer: Texas Hedge Funds Settle Improper Trading Investigation - Will Pay $37.7 Million For Late Trading And Market Timing

Date 22/12/2005

Attorney General Eliot Spitzer today announced an agreement with two related Texas hedge funds and their managers to resolve an investigation of improper trading of mutual funds.

New listing On Euronext: Newton 21 Europe S.A.

Date 22/12/2005

Newton 21 Europe was listed today on the Free Market of Euronext Brussels.
London Stock Exchange Block Listing

Date 22/12/2005

An application has been made to the UK Listing Authority for block listings totalling 2,800,000 Ordinary shares of 5 5/6p each in the Company to be admitted to the Official List of the UK Listing Authority and admitted to trading on the London Stock Exchange upon issuance. The shares will rank pari passu with the existing ordinary shares of the Company.
Letter From NYMEX Chairman Mitchell Steinhause

Date 22/12/2005

Mitchell Steinhause, chairman of the NYMEX Holdings, Inc., released a letter today to NYMEX stockholders, members and staff. The content of the letter, in its entirety, is below:
Kotak Mahindra (UK) Ltd., First Indian Institution To Set Up Operations At Dubai International Financial Centre

Date 22/12/2005

Kotak Mahindra (UK) Limited (KMUK), has been licensed by the Dubai Financial Services Authority to conduct its operations from its branch in Dubai International Financial Centre. It is the first Indian institution to set up at DIFC. This announcement was made by Mr .Shyam Kumar, Director, KMUK in Dubai on December 20.
ICEX News and Views - 22 December 2005 - Volume 5, Issue 26

Date 22/12/2005

This issue: further co-operation between ICEX and FME (Financial Supervisory Authority), liquidity of shares on the NOREX exchanges, impact of trading halts on trade volume and liquidity of listed equities, and a new SAXESS course scheduled 5 - 6 January.