News Centre

SIFMA Supports President Obama’s Endorsement Of Transatlantic Trade And Investment Partnership

Date 13/02/2013

SIFMA today released the following statement from Kenneth E. Bentsen, Jr., executive vice president, public policy and advocacy, in response to President Obama’s endorsement in his State of the Union Address of beginning negotiations with the European Union on a comprehensive Transatlantic Trade and Investment Partnership.

McGraw-Hill Reports 4th Quarter And Full-year 2012 Results - Says Department Of Justice Civil Lawsuit Entirely Without Factual Or Legal Merit

Date 12/02/2013

• McGraw-Hill Education Reclassified to Discontinued Operations in Anticipation of the Sale Closing in the 1st Quarter
• McGraw Hill Financial Revenue Increased 22% in the 4th Quarter and 13% for the Full Year
• Diluted EPS from Continuing Operations Increased 80% to $0.67 in the 4th Quarter and 19% to $2.37 for the Full Year
• Adjusted Diluted EPS from Continuing Operations Increased 56% to $0.72 in the 4th Quarter and 32% to $2.75 for the Full Year, Creating a Baseline for Future Comparisons
• Introduces 2013 Adjusted Diluted EPS Guidance for McGraw Hill Financial of $3.10 to $3.20, an Increase of Approximately 15% Versus Comparable 2012 EPS of $2.75

New York Business Owner Arrested For Allegedly Running A $1.5 Million Ponzi Scheme

Date 12/02/2013

Jason J. Konior, the founder and manager of a number of related business entities in New York City, collectively referred to as “Absolute,” was arrested today for orchestrating a Ponzi scheme, announced Preet Bharara, the U.S. Attorney for the Southern District of New York, and George Venizelos, the Assistant Director-in-Charge of the New York Office of the FBI. Through Absolute, Konior stole approximately $1.5 million from three hedge fund investors and used the proceeds to pay off prior investors and to pay himself.  He was arrested in New York City and is expected to be presented in federal court before U.S. Magistrate Judge James L. Cott on Wednesday.

CNSX And Pure Trading Family Day Schedule

Date 12/02/2013

CNSX and Pure Trading markets and offices will be closed on Monday, February 18, 2013 for Family Day. Regular trading hours for both CNSX and Pure Trading will resume on Tuesday February 19, 2013. 

Former Galleon Group Employee And Hedge Fund Founder Ali Far Sentenced In New York Federal Court For Insider Trading

Date 12/02/2013

Ali Far, a former employee of Galleon Group and founder/portfolio manager of Spherix Capital Partners, was sentenced today to one year of probation for his participation in multiple insider trading schemes during which he obtained, shared and traded based on material, nonpublic information stolen from several public companies, announced U.S. Attorney for the Southern District of New York Preet Bharara. Far pleaded guilty in October 2009 to one count of conspiracy to commit securities fraud and one count of securities fraud under a cooperation agreement with the government.  He was sentenced today in New York federal court by U.S. District Judge Robert P. Patterson.

Direct Edge Trading Notice #13-08: Market Holiday Reminder – President's Day

Date 12/02/2013

In observance of President's Day, EDGA Exchange, Inc. (EDGA^®) and EDGX Exchange, Inc. (EDGX^®) will be closed on Monday, February 18, 2013. The exchanges will resume normal trading hours on Tuesday, February 19, 2013. 

ISDA Response To The IOSCO Consultation On Financial Benchmarks

Date 12/02/2013

Introduction

On behalf of our members, ISDA appreciates the opportunity to respond to this consultation, withthe goal of contributing to a robust and stable financial market. In this response, we have limited ourselves to commenting on those issues that are directly relevant to ISDA and OTC Derivatives Markets. There are, of course, many important issues discussed in the consultation document that go  beyond  that  scope,  and  we  defer,  in  relation  to  those  issues,  to  other  financial  market respondents with greater expertise and/or a more relevant focus. Equally, we will not address considerations of possible alternatives or successors to relevant indices (e.g. Libor or Euribor), either generically or specifically, in the case of those that we are aware will already be discontinued or those where a decision is yet to be made for the discontinuation of any indices/rates.

CFTC: Federal Court In Texas Orders Jonathan Hansen And His Company, J. Hansen Investments, LLC, To Pay Over $1.3 Million To Settle Commodity Pool Fraud Action

Date 12/02/2013

The U.S. Commodity Futures Trading Commission (CFTC) obtained a federal court Order against Defendants Jonathan Hansen (Hansen) and his firm, J. Hansen Investments, LLC (JHI), requiring them to jointly pay approximately $878,000 in restitution to defrauded investors and a civil monetary penalty of approximately $483,900. The Order also imposes permanent trading and registration bans against the Defendants and prohibits them from violating the anti-fraud provisions of the Commodity Exchange Act, as charged.

ESMA Seeks Feedback For Review Of The Short Selling Regulation

Date 12/02/2013

The European Securities and Markets Authority (ESMA) has published a Call for Evidence on the evaluation of the Regulation (EU) No236/2012 on short selling and certain aspects of credit default swaps (SSR).  This follows receipt of a formal mandate from the European Commission (EC) seeking technical advice on the evaluation of the effects of the SSR.

Financial Stability Board Publishes Peer Review On Risk Governance

Date 12/02/2013

The  Financial  Stability  Board  (FSB)  published  today  a  thematic  peer  review  on  risk governance. The report takes stock of risk governance practices at both national authorities and firms, notes progress made since the financial crisis, identifies sound practices and offers recommendations to support further improvements.