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CFTC Charges North Carolina Foreign Currency Firm Barki, LLC And Its Recently Deceased Principal Bruce C. Kramer In Alleged $40 Million Ponzi Fraud - North Carolina Federal District Court Issues Restraining Order Freezing Assets And Appointing A Receiver

Date 18/03/2009

The U.S. Commodity Futures Trading Commission (CFTC) announced today that it charged Barki, LLC of Mint Hill, North Carolina, and Bruce C. Kramer with fraudulently soliciting at least $40 million to trade leveraged foreign currency contracts (forex), misappropriating at least $30 million of customer funds to pay purported profits, return principal to customers, and for personal expenses. The defendants concealed their fraud and trading losses through false account statements for
SEC Charges Madoff Auditors With Fraud

Date 18/03/2009

The Securities and Exchange Commission today charged the auditors of Bernard Madoff's broker-dealer firm with committing securities fraud by representing that they had conducted legitimate audits, when in fact they had not.
Federal Open Market Committee Statement Released By The Board Of Governors Of The Federal Reserve System

Date 18/03/2009

Information received since the Federal Open Market Committee met in January indicates that the economy continues to contract. Job losses, declining equity and housing wealth, and tight credit conditions have weighed on consumer sentiment and spending. Weaker sales prospects and difficulties in obtaining credit have led businesses to cut back on inventories and fixed investment. U.S. exports have slumped as a number of major trading partners have also fallen into recession. Although the near-
Brokers Tap Execution Cost Management (ECM) Technology To Manage Trading Costs, Measure Client Profitability And Improve Buy-side Relationships, Says New TABB Research On Variable Execution Costs

Date 18/03/2009

TABB Group in a recently published research note, “Execution Cost Management: Improving Margins, Strengthening Relationships,” projects that brokers who mine critical variable cost considerations with execution cost management (ECM) technology gain in three distinct ways. By lowering net trading costs, trading profit margins will improve. By sharing trade routing and costing information with buy-side clients, brokers can differentiate themselves from their competition. Third, by incorporat
Turner Review Press Conference: Speaking Notes And Slides For The Press - Speech By Adair Turner, Chairman, UK Financial Services Authority , 18 March 2009

Date 18/03/2009

Related information Slides: The Turner ReviewA regulatory response to the global banking crisis [PDF] The Turner Review

UK's Financial Services Authority Publishes Consultation Paper On Remuneration

Date 18/03/2009

The Financial Services Authority (FSA) has today published a consultation paper (CP) which formally consults on whether to incorporate its Code of practice on remuneration into the Handbook and its application to large banks and broker dealers.
London Stock Exchange: New Equity Research Service For Smaller Companies Launches

Date 18/03/2009

New equity research service for smaller companies launches · Developed to address the need for greater coverage of smaller quoted companies · Complements research from existing providers · Equity research can form a vital element of a company’s investor relations strategy
FORTS Ranked 11 In The FIA’s 2008 Rating

Date 18/03/2009

According to the annual report issued by the Futures Industry Association (FIA), one of the world’s major professional associations of derivative exchanges FORTS, RTS derivatives section, was rated 11th among 52 global derivative exchanges ranked by the number of contracts traded in the year 2008.
The Financial Services Authority Publishes "The Turner Review": A Wide-Ranging Review Of Global Banking Regulation

Date 18/03/2009

The Financial Services Authority (FSA) has today published the Turner Review of global banking regulation. Lord Turner, chairman of the FSA, was asked by the Chancellor of the Exchequer to review the events that led to the financial crisis and to recommend reforms.
RTS Index Futures Contract Exceeds 800,000 Contracts

Date 18/03/2009

March 17, 2009 saw new trading volume and market participants’ activity hit record highs on FORTS, RTS derivatives section.