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Standard & Poor's Announces Changes In The S&P/TSX Venture Composite Index

Date 18/09/2008

Standard & Poor's will make the following changes in the S&P/TSX Venture Composite Index after the close of trading on Thursday, September 18, 2008: The shares of Copper Mountain Mining Corporation (TSXVN:CUM) will be removed from the index. The company will graduate to trade on TSX under the same ticker symbol. The shares of Hard Creek Nickel Corporation (TSXVN:HNC) will be removed from the index. The company will graduate to trade on TSX under the same ticker symbol.
Statement From SEC Chairman Christopher Cox

Date 18/09/2008

Securities and Exchange Commission Chairman Christopher Cox today made the following statement: "While I have great respect for Senator McCain, we have sometimes disagreed, and this is one such occasion. The SEC has made plain that we have zero tolerance for naked short selling. In this market crisis, the men and women of the SEC have responded valiantly as they always do—with the utmost dedication and professionalism. Addressing the extraordinary challenges facing our marke
SIFMA Testifies On Auction Rate Securities Before House Financial Services Committee

Date 18/09/2008

In testimony delivered today at the House Financial Services Committee hearing on the auction rate securities market, Leslie Norwood, managing director and associate general counsel at the Securities Industry and Financial Markets Association (SIFMA), outlined the factors which led to failed auctions and presented the steps SIFMA has taken to obtain regulatory relief for issuers and investors in auct
KCBT Wheat Daily Price Limit For Trade Date September 19, 2008 At 60 Cents

Date 18/09/2008

Price limits for KCBT hard red winter wheat futures are at 60 cents for trade date September 19, 2008 (effective with the September 18 evening session).
Charlie McCreevy, European Commissioner For Internal Market And Services - The Importance Of Smaller Quoted Companies To The European economy - Quoted Companies Alliance's Annual Dinner London, 17 September 2008

Date 18/09/2008

My Lord [Strathclyde], Ladies and Gentlemen, It is an honour to be here with you this evening and it is always a personal pleasure for me to be in London. When this Dinner was planned several months ago most of us did not anticipate the most recent developments of what can hardly still be called a "financial turmoil". I have been involved in several economic and financial crises in my professional life and this is certainly one of the most serious ones I have w

Program Trading Averaged 17.8 Percent Of NYSE Volume During Sept. 8-12

Date 18/09/2008

The New York Stock Exchange, a subsidiary of NYSE Euronext (NYX), 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 Sept. 8-12.
CFTC: Pennsylvania Resident Gary Scholze Ordered To Pay $1 Million Civil Monetary Penalty In Commodity Futures And Options Anti-Fraud Case - Federal Court Finds That Scholze Misappropriated Customer Funds

Date 18/09/2008

The U.S. Commodity Futures Trading Commission (CFTC) announced today that it obtained a $1 million civil monetary penalty judgment against Pennsylvania resident Gary F. Scholze to settle a CFTC anti-fraud enforcement action. The order also permanently prohibits Scholze from trading, soliciting funds, and seeking registration with the CFTC or otherwise engaging in any commodity interest-related activity.
UK's Financial Services Authority Statement On Short Positions In Financial Stocks

Date 18/09/2008

The Board of the Financial Services Authority (FSA) today (Thursday 18 September) agreed to introduce new provisions to the Code of Market Conduct to prohibit the active creation or increase of net short positions in publicly quoted financial companies from midnight tonight.
CFTC Files Action To Revoke The Registration Of Portland, Oregon, Hedge Fund Beacon Rock Capital, LLC - CFTC Action Is Result Of The Fund’s Criminal Conviction For Fraudulent Market Timing In The Trading Of Mutual Funds

Date 18/09/2008

The U.S. Commodity Futures Trading Commission (CFTC) today revoked the registrations of Portland, Oregon hedge fund Beacon Rock Capital, LLC (Beacon Rock) as a Commodity Pool Operator and Commodity Trading Advisor. The CFTC’s Opinion and Order is based on Beacon Rock’s conviction in the first criminal case in U.S. history against a hedge fund for engaging in fraudulent market timing.
UK Government Acts On HBOS - Lloyds TSB Merger Proposals

Date 18/09/2008

Earlier today, the Secretary of State for Business and Enterprise John Hutton announced his intention to issue an intervention notice in the proposed merger of HBOS and Lloyds TSB on public interest grounds to ensure the stability of the UK financial system.