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Axiss Australia Newsletter Issue 84 - 15 March 2004

Date 16/03/2004

Please click here for the latest a2a e-mail newsletter produced by Axiss Australia - a summary of the key events of the past fortnight shaping Australia's position as a global financial services centre in the Asian time zone.
UK's Financial Services Authority Managing Directors Appointed

Date 15/03/2004

The Financial Services Authority has today appointed three new Managing Directors. They will also be members of the FSA Board.
Three Minute Silence In The ICEX Trading System

Date 15/03/2004

Iceland Stock Exchange (ICEX) following a recommendation from the European Council and in conjunction with the NOREX exchanges will today 15 March observe a three minute silence as a mark of respect for victims of the Madrid terrorist attack last week. The silence will be starting at 11:00 Icelandic time or at the same time as the the other NOREX exchanges.
The Copenhagen Stock Exchange Implements Three Minutes Of Silence At 12.00 Today

Date 15/03/2004

The Copenhagen Stock Exchange will today observe three minutes of silence from 12.00 as an expression of our deepest sympathy with the victims of the terrorist attacks in Madrid last Thursday and our dissociation with the terrorist acts.
Standard & Poor's Announces Changes In S&P/TSX Canadian Indices

Date 15/03/2004

Standard & Poor's Canadian Index Operations would like to announce that Canadian Superior Energy Inc. will not be added to the S&P/TSX Composite Index as was previously announced. Due to the decrease in float market capitalization, resulting in a lower relative weight, the company will not be added at this time and will be reviewed for inclusion at the next Quarterly Index Review. Company additions to and deletions from an S&P equity index do not in any way reflect an opinion on the inve

SET And ICAAT Call For New Role Of CFO, To Do More Than Just Oversee The Making Of Financial Statements

Date 15/03/2004

The ICAAT says the contemporary role of a CFO should be more than just overseeing the production of company financial statements, but also to provide advice in regards to company financial strategies to the CEO. The position then requires continued learning about new financial strategies. The seminar "The New Dimension of Professional CFOs" will be held to prepare CFOs for the new era of challenges. The seminar will be held on Wednesday 17 March 2004 at the QSNCC.
SEC's Division Of Enforcement Announces Agreement To Settle Civil Fraud Charges Against Fleet's Columbia Mutual Fund Adviser And Distributor For Undisclosed Market Timing

Date 15/03/2004

The Securities and Exchange Commission's Division of Enforcement today announced that it has reached an agreement in principle regarding its market timing lawsuit against two subsidiaries of FleetBoston Financial Corporation - Columbia Management Advisors, Inc. ("Columbia Advisors") and Columbia Funds Distributor, Inc. ("Columbia Distributor"). The Commission alleged in a February 24, 2004 civil complaint that these two entities allowed certain preferred mutual fund customers to engage in short-
SEC Reaches Agreement In Principle To Settle Charges Against Bank Of America For Market Timing And Late Trading - Bank Of America To Pay $375 Million, Exit Mutual Fund Clearing Business, And Make Other Remedial Reforms

Date 15/03/2004

The Staff of the Securities and Exchange Commission announced a settlement agreement in principle with Bank of America of securities fraud charges arising from arrangements to permit timing in certain Nations Funds mutual funds and for facilitating market timing and late trading by certain customers. The agreement in principle is subject to the approval by the Commission.
RTS Stock Exchange Order-Driven Market: Weekly Market Data

Date 15/03/2004

For the week of March 9th - March 12th, 2004, the total trading volume of direct and indirect transactions (including REPO transactions) reached 6 339 million rubles. Internet trading accounted for 31% of the total trading volume. 8 564 transactions were executed.
RTS Stock Exchange FORTS Derivatives Market: Weekly Market Data

Date 15/03/2004

For the week of March 9th - March 12th, 2004, total trading volume on FORTS (Futures & Options on the RTS) reached 651 thousand contracts and 5 212 million rubles. Total open interest as of March 12th, 2004, reached 3 938 million rubles and 450 thousand contracts.