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Canadian Securities Regulators Propose Enhanced Oversight of Securitized Products
April 1, 2011--The Canadian Securities Administrators (CSA) today proposed a framework for the regulation of securitized products in Canada that would improve investor protection through enhanced transparency and disclosure requirements for securitized products and modify the current exemptions investors use to access these products in the exempt market.
Under the proposed framework, reporting issuers would be required to provide investors with information on the features and risks of securitized products. This information will be provided to investors at the time of product distribution and on an ongoing basis. These new disclosure requirements have been designed to be consistent with international developments. In addition, non-reporting issuers that distribute securitized products in the exempt market will also be subject to certain initial and ongoing disclosure requirements.
"The proposed rules build on the CSA's efforts to provide increased transparency to investors while taking into account the particular features of the Canadian securitization markets," said Bill Rice, Chair of the CSA and Chair and CEO of the Alberta Securities Commission. "We will work toward striking an appropriate balance between strong investor protection and an efficient, open marketplace."
A key element of the proposed rules is the narrowing of the class of investors who can buy securitized products in the exempt market to a smaller, more sophisticated group. This feature is intended to help investors avoid products whose risk profiles and underlying components may be unsuitable for their investment objectives.
The CSA is seeking input from investors and marketplace participants on the proposals. The comment period is open until July 1, 2011.
The Notice is available on the websites of various CSA members. The CSA, the council of the securities regulators of Canada's provinces and territories, coordinates and harmonizes regulation for the Canadian capital markets.
Source: Canadian Securities Administrators
Canadian Securities Regulators Release Oversight Review of IIROC
April 1, 2011--The Canadian Securities Administrators (CSA) today released the report on the first oversight review of the performance of the Investment Industry Regulatory Organization of Canada (IIROC), the self-regulatory body that regulates investment dealers and trading activity on debt and equity marketplaces in Canada.
In the review, CSA staff assessed IIROC’s compliance with the relevant terms and conditions of recognition, and examined whether regulatory processes at IIROC were adequate, consistent and fair. The review also evaluated the progress of integration following the creation of IIROC in 2008 from the merger of the Investment Dealers Association of Canada and Market Regulation Services Inc.
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Source: CSA
Trading Volume Tops One Million Contracts for the First Time at CBOE Futures Exchange, March is Third Consecutive Record Month
Average Daily Volume Above 40,000 Contracts for the Second Time
18th Consecutive Month of Year-Over-Year Volume Increases
CFE Launches Security Futures on CBOE Gold ETF Volatility Index
April 1, 2011-- The CBOE Futures Exchange, LLC (CFE) today announced that March 2011 was the most active trading month in CFE history as volume surpassed the one-million-contracts milestone for the first time ever.
The 1,066,367 contracts that changed hands during March was a new all-time high and the third consecutive record month at CFE, following the previous highs of 789,734 contracts in February and 778,157 contracts in January. When including November 2010's volume of 751,481 contracts, the four busiest months in CFE history have occurred during the last five months.
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Source: CBOE
Standard & Poor's Announces Changes In The S&P/TSX Canadian Indices
April 1, 2011--Standard & Poor's Canadian Index Operations announces the following index changes:
The shareholders of Fronteer Gold Inc. (TSX:FRG) have accepted the $C14.00 cash per share takeover offer from Newmont Mining Corporation (NYSE:NEM). Fronteer Gold will be removed from the S&P/TSX Composite and Capped Composite, the S&P/TSX Equity, Capped Equity,
Equity Completion and Equity SmallCap, the S&P/TSX Completion, the S&P/TSX SmallCap, the S&P/TSX Global Mining, the S&P/TSX Global Gold and the S&P/TSX Capped Materials indices after close on Friday, April 8, 2011.
Company additions to and deletions from an S&P equity index do not in any way reflect an opinion on the investment merits of the company.
Source: SEC.gov
Standard & Poor's Announces Changes In The S&P/TSX Venture Composite Index
April 1, 2011--Standard & Poor's will make the following changes in the S&P/TSX Venture Composite Index after the close of trading on Monday, April 4, 2011:
Hathor Exploration Limited (TSXVN:HAT) will be removed from the index.
The company will graduate to trade on TSX under the same ticker symbol. Hathor Exploration will remain a constituent of the S&P/TSX Venture 30 Index until the next index rebalancing at the end of July, 2011.
Company additions to and deletions from an S&P equity index do not in any way reflect an opinion on the investment merits of the company.
Source: Standard & Poors
CFTC.gov Commitments of Traders Reports Update
April 1, 2011--CFTC.gov Commitments of Traders Reports have been updated for the week of March 29, 2011 are now available.
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Source: CFTC.gov
Van Eck files with the SEC-Market Vectors Japanese Bond ETF
April 1, 2011--Van Eck has filed a post-effective amendment, registration statement with the SEC for the Market Vectors Japanese Bond ETF.
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Source: SEC.gov
Van Eck files with the SEC -Market Vectors Russia Small-Cap ETF
April 1, 2011--Van Eck has filed a post-effective amendment, registration statement with the SEC for the Market Vectors Russia Small-Cap ETF.
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Source: SEC.gov
Van Eck files with the SEC
April 1, 2011--Van Eck has filed a post-effective amendment, registration statement with the SEC for the Market Vectors Germany Small-Cap ETF.
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Source: SEC.gov
AdvisorShares files with the SEC
April 1, 2011--AdvisorShares has filed a post-effective amendment, registration statement with the SEC for the Meidell Tactical Advantage ETF.
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Source: SEC.gov
