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SG Cowen And Lehman Brothers Settle Enforcement Actions With SEC And NYSE For Supervisory Failures In Frank Gruttadauria Case

Date 14/08/2003

The Securities and Exchange Commission and the New York Stock Exchange today announced joint actions against SG Cowen Securities Corporation and Lehman Brothers, Inc. for failing to supervise Frank D. Gruttadauria, a former branch office manager and broker. Beginning in 1987, while employed at a series of broker- dealers, Gruttadauria misappropriated over $115 million from his customers. He stole approximately $47 million of this total during the 27-month period that SG Cowen employed him and $2
SEC Statement Of August 14, 2003

Date 14/08/2003

An SEC spokesman made the following statement: "The SEC is carefully monitoring today's power failure and is in regular communication with the markets and clearing agencies."
Program Trading Averaged 42.0 Percent Of NYSE Volume During Aug. 4-Aug. 8, 2003

Date 14/08/2003

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 Aug. 4-Aug. 8, 2003.
New Zealand Exchange Limited Releases Final Corporate Governance Submission

Date 14/08/2003

NZX wishes to advise that it has released the final version of its proposed Listing Rule changes on Corporate Governance and will be making a submission to the Minister of Commerce within the next two weeks.
Donald Nicolaisen Named SEC Chief Accountant

Date 14/08/2003

Securities and Exchange Commission Chairman William H. Donaldson today announced the appointment of Donald T. Nicolaisen as the Commission's Chief Accountant. Mr. Nicolaisen will oversee the Commission's accounting policy initiatives and lead the SEC's efforts with national and international standard-setters on critical accounting and auditing issues, including international convergence and efforts to adopt principles-based accounting standards. Mr. Nicolaisen will also work closely with the Pub

Copenhagen Stock Exchange: Surveys Made By The Exchange's Committee For Good Corporate Governance Show That Managements And Majority Shareholders Are Positive Towards Good Corporate Governance

Date 14/08/2003

In continuation of the Nørby Committee, the Copenhagen Stock Exchange at the end of 2002 appointed a committee for good corporate governance, the objective of which is to promote the development of sound corporate governance practices in listed Danish companies.
CBOT Has No Plans To Delay Trading Due To NY Power Outage

Date 14/08/2003

As of 5:00 p.m. on Thursday, August 14, 2003, trading on the Chicago Board of Trade electronic trading platform will open as scheduled at 8:00 p.m.(Chicago Time). The CBOT® open auction markets also will open as scheduled on Friday, August 15, 2003, at 7: 20 a.m. (Chicago Time)
Borsa Italiana: In July, Trading In ETFs Records A New Historical High And A Record Number Of Trades In A Single Session - The MIB Index Grows By 6.7% Since The End Of 2002 And By 21.7% Since The Annual Low - Tender Offers Achieve The Second Best Ever Le

Date 14/08/2003

In July, trading in ETFs recorded a new historical high with a turnover of €198.3 million and, on Thursday 10 July, set a new record for the number of trades in a single session achieving a turnover of €47.3 million. With the conclusion of the operations relating to Telecom ordinary and savings shares, tender offers achieved the second best ever level, with a total of more than €16 billion.
American Stock Exchange Announces Mid-Year Results - Announcement Of Acquisition, Business Gains Among First Half Highlights

Date 14/08/2003

The American Stock Exchange (Amex) today announced business results for the first half of 2003. During the first six months, the Amex reported significant highlights and business developments: An agreement in principle was reached for GTCR Golder Rauner, LLC, a leading private equity firm, to acquire the Amex from the NASD. The Amex Composite Index continued its strong performance, increasing 18% during the period. The Amex added significantly to its growing closed-end funds busi
SEC: Former Tyco Auditor Permanently Barred From Practicing Before The Commission - SEC Finds Pricewaterhousecoopers Engagement Partner Recklessly Issued Fraudulent Audit Report And Engaged In Improper Professional Conduct

Date 13/08/2003

The Securities and Exchange Commission today issued an Order instituting settled cease-and-desist proceedings and proceedings pursuant to Rule 102(e) of the Commission's Rules of Practice against Richard P. Scalzo, CPA, the PricewaterhouseCoopers LLP (PwC) engagement partner for that firm's audits of the financial statements of Tyco International Ltd. (Tyco) for Tyco's fiscal years 1997 through 2001. The Commission's Order finds that Scalzo recklessly violated the antifraud provisions of the fed