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Statement On MF Global: Next Steps - CFTC Commissioner Scott D. O’Malia

Date 16/11/2011

Last Thursday, the Commodity Futures Trading Commission (the “Commission”) confirmed that our Division of Enforcement is investigating MF Global, Inc. (“MF Global”) for possible violations of the Commodity Exchange Act (“CEA”) and/or Commission regulations. I fully support the Commission’s efforts to conduct a thorough investigation to determine what happened with the customer funds, how we can return all customer funds as soon as possible, and punish any wrongdoing.

FIA Commends MF Global Trustee For Efforts To Release Customer Funds

Date 16/11/2011

The Futures Industry Association today released the following statement in response to the MF Global Trustee’s most recent effort to release customer funds:

The Futures Industry Association fully supports the Trustee’s expedited motion requesting the Court to approve an interim distribution to MF Global Inc.’s “cash-only customers” in an amount equal to 60 percent of such customers’ cash balances. If granted, approximately $520 million will be released to the 21,000 “cash-only customers,” for whom the past two weeks have been particularly frustrating. The Trustee’s motion is an important step in our shared goal of assuring the prompt return of all customer property."

CFTC Charges California Residents Robert Cannone, Thomas Breen, And Francis Franco And Their Company, National Equities Holdings, Inc. With $1.4 Million Commodity Pool Fraud - The Defendants Charged With Fraudulent Solicitation, Misappropriation Of Customer Funds, And False Statements

Date 16/11/2011

The U.S. Commodity Futures Trading Commission (CFTC) today announced the filing of a complaint in federal court in Santa Ana, Calif., charging defendants Robert J. Cannone of Laguna Niguel, Thomas B. Breen of San Juan Capistrano, Francis Franco of Anaheim, and their company National Equity Holdings, Inc. of Laguna Niguel, with fraudulently operating a $1.4 million commodity futures pool and with registration violations.

CME Group Statement On Enterprise And Enbridge Seaway Pipeline Reversal

Date 16/11/2011

CME Group, the world's leading and most diverse derivatives marketplace, today released the following statement on the Enterprise Products Partners L.P. and Enbridge Inc. reversal of the Seaway pipeline:

"We're pleased to congratulate Enterprise and Enbridge on the reversal of the Seaway crude oil pipeline," said Bryan Durkin, chief operating officer and managing director, products and services, CME Group. "With its reversal, Seaway will be an important addition to our domestic infrastructure and represents a major development for the North American crude oil market. We believe this new project will enhance the significance of our NYMEX Light Sweet Crude Oil (WTI) benchmark."

Instinet Market Structure Research November 2011 - From Canada With Love

Date 16/11/2011

CFTC Files Enforcement Actions Against International Commodity Advisors, ProfitStars Int’l Corp., And Paragon FX Enterprises, Alleging Violations Of The Commodity Exchange Act And Forex Regulations

Date 16/11/2011

The U.S. Commodity Futures Trading Commission (CFTC) today announced it filed separate but related civil injunctive complaints in the U.S. District Court for the Southern District of New York in connection with the operation of two forex pooled investment vehicles operated by International Commodity Advisors (ICA) of Marietta, Ga., and ProfitStars Int’l Corp. (PSI) of Dallas, Texas.  The CFTC filed a third injunctive action against Paragon FX Enterprises, LLC (Paragon FX) of New York, N.Y.

FIA Special Advisory: Update On MF Global Fund Transfers

Date 16/11/2011

The U.S. Bankruptcy Court in New York has confirmed that it will hold a hearing at 11:00 a.m. on Thursday, November 17th, to hear a petition filed by James Giddens, Trustee for the liquidation of MF Global, seeking an expedited transfer of funds to customers. In other developments, Senate Agriculture Committee Chairman Debbie Stabenow (D-Mich.) has asked the Commodity Futures Trading Commission to speed up its MF Global investigation and CFTC Commissioner Scott O'Malia has requested his agency work with the SIPC trustee to ensure an expedited claims process and transfer of customer funds.

EGX Launches NILEX New Trading System On 13 November 2011

Date 16/11/2011

The Egyptian Exchange (EGX) celebrated the launch of NILEX new trading system with a "Ringing of Bell Ceremony" on Sunday 13th of November 2011. EGX's Chairman, Dr. Mohammad Omran, announced that the trading system applied in the main market will be applied to NILEX from this day onwards. 

Remarks Before The University Of Chicago Law School - CFTC Chairman Gary Gensler

Date 16/11/2011

Good morning, I’d like to thank the University of Chicago for inviting me to speak today, and thank you Austan for that kind introduction. Being back here reminds me, Austan, of soon after we first met. You were working out of a cramped office with books and papers piled sky high. Since then, your office moved to a pretty fancy address in Washington. But now that you’re back in Chicago, the real question is, what does your office look like now?

“Here To Help” - Speech Of CFTC Commissioner Bart Chilton To Commodities Week USA, Light House International, New York, NY

Date 16/11/2011

Introduction

Hi!  I’m from the government and I’m here to help.  Well…it is always good to start off a speech with a joke, right?  I’m glad you laughed.  At the same time, though, I’m serious. I guess a reasonable question might be, when does government help and when does it hurt?