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FINRA Announces Agreements In Principle With Three Additional Firms To Settle Auction Rate Securities Violations - Agreements Include Offers To Repurchase Over $112 Million Of ARS Holdings At Par

Date 23/10/2008

The Financial Industry Regulatory Authority (FINRA) announced today that it has reached agreements in principle with City National Securities (CNS), of Beverly Hills, CA, BNY Mellon Capital Markets, LLC of New York and Harris Investor Services, Inc. of Chicago, to settle charges relating to the sale of Auction Rate Securities (ARS). Each of the principle agreements is subject to being formalized in an approved settlement document called a Letter of Acceptance, Waiver and Consent (AWC).
Interim US Assistant Treasury Secretary For Financial Stability Neel Kashkari Testimony Before The Senate Committee On Banking, Housing And Urban Affairs

Date 23/10/2008

Chairman Dodd, Senator Shelby, members of the committee, good morning and thank you for the opportunity to appear before you today. I would like to provide an update on the Treasury Department's progress implementing our authorities under the Emergency Economic Stabilization Act of 2008.
ETF Securities Completes Acquisition Of Gold Bullion Securities Products On London And Australian Stock Exchange - Management And Ownership Transfers To ETF Securities Limited - No Change To Operations And Trading

Date 23/10/2008

ETF Securities Limited, the innovator and pioneer of Exchange Traded Commodities (ETC), has formally completed the acquisition of the world's first gold ETCs - Gold Bullion Securities listed on the London Stock Exchange (LSE: GBS) and the Australian Stock Exchange (ASX: GOLD).
CESR And ESCB Consult On Recommendations For Securities Clearing And Settlement Systems And Central Counterparties In The European Union

Date 23/10/2008

The Committee of European Securities Regulators (CESR) and the European System of Central Banks (ESCB) have published today the document entitled “Draft recommendations for securities clearing and settlement systems and draft recommendations for central counterparties in the European Union” for public consultation in the context of the joint work being undertaken by the ESCB and the CESR in the field of securities clearing and settlement. Part 1 of the consultation paper contains 19 recommend
Clearstream: New Global Note Facilitates Access To The Eurosystem

Date 23/10/2008

Issuers issuing assets in the Euro area denominated in US Dollars, Pounds Sterling and Japanese Yen may take immediate advantage of Clearstream’s New Global Note (NGN) facility to ensure that their securities can be considered as eligible as collateral for Eurosystem credit operations when complying with the ECB’s criteria.

EMXCo And FundSettle Further Automate Cross-Border Flows In UK Funds

Date 23/10/2008

Euroclear Bank’s FundSettle platform has launched an automated link to EMXCo’s EMX Message System. FundSettle specialises in cross-border fund settlement and asset servicing, and EMXCo is the UK’s leading provider of fund order routing.
CESR And ERGEG Publish For Consultation Their Advice To The European Commission In The Context Of The Third Energy Package

Date 23/10/2008

This consultation paper is the result of work done by the Committee of European Securities Regulators (CESR) and the European Regulators’ Group for Electricity and Gas (ERGEG) in response to a request for advice by the European Commission (Commission).
UK’s Financial Services Authority Publishes Contracts For Difference Feedback Statement

Date 23/10/2008

The Financial Services Authority (FSA) today publishes its feedback statement on disclosure for contracts for difference (CfDs).
NYSE Euronext Launches TradeCheck, A Low-Cost Service Enabling Customers To Evaluate Equity Trade Execution In A Range Of European Markets

Date 23/10/2008

NYSE Euronext has launched a low-cost online service that enables its users to establish whether they have got the best possible deal when trading equities on 18 European exchanges and other trading venues. Aimed at small- and medium-sized trading firms, TradeCheck will enable asset managers and hedge funds, broker-dealers and compliance officers to assess, optimize and demonstrate the quality of trade execution cheaply, while ensuring that they meet their customers’ needs and comply with th
BME: First Company Authorised By The Spanish Regulator To Offer Transaction Reporting - The Stock Market Act, Which Incorporates The MiFID Directive, Requires Financial Firms To Report The Trades They Carry Out - The New Service For Trades Outside Of BME

Date 23/10/2008

The Spanish stock market regulator, CNMV, has approved BME’s application to create a Reporting System for transaction reporting, as required by the new Stock Market Act.