Americas ETP News Older Than 1 year
If your looking for specific news, using the search function will narrow down the results
Securities Regulators Publish Updated Best Practices for Firms Serving Senior Investors
August 13, 2010-- The Securities and Exchange Commission, Financial Industry Regulatory Authority (FINRA) and North American Securities Administrators Association (NASAA) today updated a joint report that outlines practices being used by financial services firms to strengthen their policies and procedures for serving senior investors as they approach and begin retirement.
The SEC, FINRA and NASAA first published the report in 2008 to highlight proactive steps being taken by some financial services firms in serving senior customers. It was intended to assist the overall industry in enhancing compliance, supervisory and other practices related to older investors. The 2010 Addendum being released today summarizes additional practices now being used by financial services firms and securities professionals in serving senior investors.
view the PROTECTING SENIOR INVESTORS: COMPLIANCE, SUPERVISORY AND OTHER PRACTICES USED BY FINANCIAL SERVICES FIRMS IN SERVING SENIOR INVESTORS
Source: SEC.gov
BATS Gets SEC Approval for 2nd Stock Exchange in U.S., Sets October Launch
August 13, 2010-BATS Global Markets, an innovative global financial markets technology company, received approval today from the U.S. Securities and Exchange Commission to operate a second equities exchange and expects to launch the market in approximately 60 days.
The new exchange is called BATS Y-Exchange, or BYX, as it will be identified on the consolidated tapes (SIPs) with the ‘Y’ identifier. BATS also operates BATS Exchange (BZX), the third-largest U.S. equities exchange that, in only four years, has captured more than 11% market share in U.S. equities.
“As we continue to Make Markets Better, we are excited to launch a second equities exchange in the U.S., one which we will differentiate from our BZX platform,” said BATS Exchange Chief Executive Joe Ratterman. “BYX will utilize the same world-class technology, customer service model and group of associates that has made BZX a success while offering more innovative solutions to members such as greater flexibility in pricing.”
To trade via BYX, current BZX members will be allowed a 90-day grace period to complete the BYX waive-in process. As with BZX, there is no membership cost at BYX. Additional BYX details, including member information is available online at www.batstrading.com/byx.
For more information, members can contact the BATS Trade Desk (tradedesk@batstrading.com) or their U.S. Sales Director.
In addition to BZX and BYX, BATS Global Markets operates BATS Options, a U.S. equity options platform launched earlier this year, and BATS Europe, a pan-European multilateral trading facility, which was launched in late 2008, and currently executes more than 5% of the overall Europe market, including 5% or more in eight major indices.
Source: BATS
Securities Firms Elect Seven Industry Governors to FINRA Board of Governors; Approve Seven Proxy Proposals
August 13, 2010--The Financial Industry Regulatory Authority (FINRA) today announced the results of voting at its 2010 Annual Meeting. In accordance with FINRA By-Laws, firms elected seven Governors of which three will represent large firms, three will represent small firms and one will represent mid-sized firms. Results also indicate that firms supported seven non-binding proxy proposals.
FINRA conducted the 2010 Annual Meeting in Washington, DC, on August 12th. About 50 percent of the 4,698 FINRA member firms eligible to vote participated in the election.
New Governors Elected
At the meeting, securities firms elected seven Governors to FINRA's 22-member Board, which is staggered into three classes:
First Class: Richard F. Brueckner, Chairman and Chief Executive Officer, Pershing LLC and Ken Norensberg, President and Chief Executive Officer, Four Points Capital Partners LLC were elected to one-year terms representing large and small firms, respectively;
read more
Source: FINRA
Claymore Announces Product Lineup Changes
August 13, 2010--Claymore Securities, Inc., an ETF sponsor with approximately $3 billion in ETF assets under management, today announced the closure and liquidation of four lightly followed ETFs.
"We continue to be committed to developing innovative investment solutions for clients and we want to dedicate our resources to areas of greater investor interest," said Steven A. Baffico, senior managing director at Claymore Securities, Inc. "After careful evaluation of our product lineup, we believe these changes are in the best interest of our clients and shareholders."
Sept. 10, 2010, will be the last day of trading on the NYSE Arca for:
Claymore/Zacks Dividend Rotation ETF (NYSE Arca: IRO)
Claymore/Zacks Country Rotation ETF (NYSE Arca: CRO)
Claymore/Beacon Global Exchanges, Brokers & Asset Managers Index ETF (NYSE Arca: EXB)
Claymore/Robb Report Global Luxury Index ETF (NYSE Arca: ROB)
Shareholders may sell their fund shares prior to the market close on Sept. 10, 2010. Effective after the market close on Sept. 10, 2010, the funds will no longer accept creation or redemption orders for fund shares. It is anticipated that transactions executed prior to Sept. 10, 2010, will be subject to fees normally assessed by broker-dealers for such transactions. From Sept. 13, 2010, through Sept. 17, 2010, shareholders may be able to sell their shares to certain broker-dealers, but there can be no assurance that there will be a market for the funds. All shareholders remaining on Sept. 17, 2010, will receive a cash distribution into their brokerage account representing the value of their shares as of that date, which will also include any capital gains and dividends.
Source: Claymore Securities
CBOE Stock Exchange (CBSX) Offers New Taker Rebates On Select Group Of Securities
August 13, 2010-- The CBOE Stock Exchange, LLC (CBSX) on Monday, August 16 will institute new pricing in 24 of the most-active, lower-priced securities traded on CBSX. The pricing will pay "takers" a substantial rebate to remove liquidity when the security's price is above one dollar, creating an incentive for customers to route their orders to CBSX.
The new pricing inverts traditional maker and taker rates, with "makers" charged an $0.0018 fee per share and "takers" receiving a credit of $0.0014 per share for the following securities:
read more
Source: CBOE
Van Eck files with the SEC
August 13, 2010-Van Eck has filed 2amended application for exemptive relief with the SEC.
view filing
view filing
Source: SEC.gov
CFTC, SEC to Host August 20 Roundtable on Clearing and Listing of Swaps and Security-Based Swaps
August 13, 2010--The Commodity Futures Trading Commission (CFTC) and Securities and Exchange Commission (SEC) staffs will hold a public roundtable on August 20, 2010, to discuss issues related to governance and conflicts of interest in the clearing and listing of swaps and security-based swaps.
The roundtable will assist both agencies in the rulemaking process to implement the Dodd-Frank Wall Street Reform and Consumer Protection Act.
The roundtable will be held in the Lobby Level Hearing Room at the CFTC’s Headquarters, Three Lafayette Centre,1155 21st Street, NW, Washington DC. The discussion will be open to the public with seating on a first-come, first-served basis. Members of the public may also listen by telephone and should be prepared to provide their first name, last name and affiliation.
read more
Source: CFTC.gov
CFTC and SEC Issue Joint Advance Notice of Proposed Rulemaking and Request for Comment Regarding Definitions and the Regulation of Mixed Swaps as Part of Dodd-Frank Act Rulemaking
August 13, 2010-- The Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) today published a joint advance notice of proposed rulemaking requesting public comment to assist the agencies in further defining certain key terms, and in prescribing regulations regarding “mixed swaps,” as required by Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act.
Title VII provides for the comprehensive regulation of swaps and security-based swaps and includes definitions of key terms relating to such regulation. It requires the CFTC and the SEC, in consultation with the Board of Governors of the Federal Reserve System, to jointly further define the terms “swap,” “security-based swap,” “swap dealer,” “security-based swap dealer,” “major swap participant,” “major security-based swap participant,” “eligible contract participant” and “security-based swap agreement.” Title VII also requires the CFTC and SEC to jointly prescribe regulations regarding “mixed swaps” as necessary to carry out the purposes of Title VII.
The CFTC and SEC invite comment with respect to all aspects of the statutory definitions of these key terms. The agencies also invite commenters to express views on the regulation of “mixed swaps.”
This request for comment is in addition to the series of email links on the CFTC’s and SEC’s Web sites to facilitate public comment regarding regulatory reform rulemaking under the Dodd-Frank Act.
The public comment period will remain open for 30 days, following publication of the advance notice in the Federal Register. Commenters are urged to submit comments as soon as possible within the 30-day comment period.
Source: CFTC.gov
U.S. Department of the Treasury Economic Statistics - Monthly Data Update
August 13, 2010---The U.S. Department of the Treasury Economic Statistics - Monthly Data has been updated.
view report
Source: U.S. Department of the Treasury
U.S. Department of the Treasury Economic Statistics - Quarterly Data Update
August 13, 2010--The U.S. Department of the Treasury Economic Statistics - Quarterly Data has been updated and is now available.
view update
Source: U.S. Department of the Treasury