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CFTC Charges Florida Precious Metals Company Kastle & Hawke, Inc. And Its Principals, James A. Ward And Nathaniel R. Walker, With Fraud - Defendants Allegedly Misappropriated At Least $319,000 Of Customer Funds For Personal Expenses And Purchases - Federal Court Issues Order Freezing Defendants’ Assets And Preserving Books And Records

Date 30/03/2011

The U.S. Commodity Futures Trading Commission (CFTC) today charged precious metals firm Kastle & Hawke, Inc. of Ft. Lauderdale, Fla., and its principals, James A. Ward, also of Ft. Lauderdale, and Nathaniel R. Walker of Lauderhill, Fla., with fraud in connection with purchasing, selling or delivering gold, silver, platinum and palladium to customers on a leveraged basis. The CFTC’s lawsuit also alleges that the defendants violated the Commodity Exchange Act’s prohibition against selling palladium on a leveraged basis. Kastle & Hawk has never been registered with the CFTC in any capacity.
Speech By SEC Chairman Mary L. Schapiro: Statement Regarding Compensation Consultants And Compensation Committee Listing Standards

Date 30/03/2011

We now turn to our second matter, which also stems from the Dodd-Frank Act. Section 952 of that Act requires the Commission to direct the national exchanges to adopt certain listing standards relating to:
- The independence of the members on a compensation committee.
- The committee’s authority to retain compensation advisers.
- The committee’s responsibility for the appointment, payment and work of any compensation adviser.
FocusShares Launches 15 New ETFs Linked To Morningstar® Indexes On NYSE Arca

Date 30/03/2011

NYSE Euronext (NYX) announced today that FocusShares, LLC, has launched 15 new exchange traded funds (ETFs) on NYSE Arca. Focus^TM Morningstar ETFs are benchmarked to indexes licensed from Morningstar, Inc., and are the first investment products sponsored by FocusShares since being acquired by Scottrade Financial Services, Inc., in 2010.
TARP Bank Programs Turn Profit After Three Financial Institutions Repay $7.4 Billion

Date 30/03/2011

The U.S. Department of the Treasury announced that the Troubled Asset Relief Program’s (TARP) investment in banks has now turned a profit after three financial institutions repaid a total of $7.4 billion in TARP funds today to taxpayers.
March 2011 “Islamic Market’s Measure” Preliminary Report: Monthly Report On The Performance Of The Dow Jones Islamic Market Indexes

Date 30/03/2011

Based on the close of trading on March 29 the global Dow Jones Islamic Market Titans 100 Index, which measures the performance of 100 of the leading Shari’ah compliant stocks globally, dropped 1.22% month-to-date, closing at 2313.44. In comparison, the Dow Jones Global Titans 50 Index, which measures the 50 biggest companies worldwide, posted a loss of 1.80%, closing at 184.04.

SEC Proposes Rules Requiring Listing Standards For Compensation Committees And Compensation Consultants

Date 30/03/2011

The Securities and Exchange Commission today voted unanimously to propose rules directing the national securities exchanges to adopt certain listing standards related to the compensation committee of a company’s board of directors as well as its compensation advisers, as required by the Dodd-Frank Wall Street Reform and Consumer Protection Act.
CFTC, National Futures Association And AARP Co-sponsor "Don't Lose Your Life Savings To Investment Fraud" During Money Smart Week

Date 30/03/2011

The Commodity Futures Trading Commission (CFTC), the National Futures Association (NFA), and AARP will co-sponsor a seminar that aims to provide individuals with the tools they need to help protect themselves and others from investment fraud. The seminar, Don't Lose Your Life Savings to Investment Fraud, will be held on Friday, April 8, from 12:00 p.m. to 1:00 p.m. at the AARP Illinois office. The office is located on 222 N. LaSalle, Suite 710 in Chicago, Ill. This event is one of more than 450 free classes, seminars and activities promoting financial education that will take place during Money Smart Week Chicago (April 2-9), coordinated by the Federal Reserve Bank of Chicago.
U.S. Agencies Seek Comment On Proposed Rule On Incentive Compensation

Date 30/03/2011

Federal financial regulatory agencies request public comment on a joint proposed rule to ensure that regulated financial institutions design their incentive compensation arrangements to take account of risk.
Dewey & LeBoeuf LLP: Holistic Risk Management, Not More Tax, Needed In Derivatives Clearing

Date 30/03/2011

Dewey & LeBoeuf Financial Regulation partner comments: 'Mr Singh's paper is excellent in many respects but his arguments in favour of a tax to incentivise banks to clear their derivatives contracts and to treat central counterparties (CCPs) as public utilities are unconvincing, especially given his achnowledgement "may be to-big-to-fail" institutions in the making."

Making OTC Derivatives Safe - A Fresh Look - Manmohan Singh's IMF Working Paper

Date 30/03/2011

Recent regulatory efforts, especially in the U.S. and Europe, are aimed at reducing moral hazard so that the next financial crisis is not bailed out by tax payers. This paper looks at the possibility that central counterparties (CCPs) may be too-big-to-fail entities in the making.