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Van Eck files with the SEC
November 16, 2012--Van Eck has filed a post-effective amendment, registration statement with the SEC for the Market Vectors High-Yield/Treasury Bond ETF.
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Sage Quant Management LLC files with the SEC
November 16, 2012--Sage Quant Management LLC has filed a preliminary Prospectus for the Sage Low Volatility Dividend Fund.
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ISE Elects New Member to Board of Directors
November 16, 2012--The International Securities Exchange (ISE) today announced that Marcus Thompson was elected by the Board of Directors for a two-year term.
Mr. Thompson, who is a Managing Director within the CFO division of Deutsche Börse AG, will serve as a non-industry director.
“I would like to welcome Marcus Thompson to ISE’s Board,” said Gary Katz, President and Chief Executive Officer of ISE. “Many of us at ISE have had the opportunity to work with Marcus in his role at Deutsche Börse Group over the past five years, and his knowledge of our business and the exchange industry will make him a valuable contributor in this new capacity as a member of our Board of Directors.”
In his role at Deutsche Börse Group, Mr. Thompson currently is responsible for Financial Accounting & Controlling. He also serves on the executive board of the Group’s Clearstream subsidiary. Prior to joining Deutsche Börse in 2000, Mr. Thompson worked for KPMG, Thomas Miller & Co and Citigroup. He is a member of the Institute of Chartered Accountants in England & Wales.
ISE Weekly Listings November 16, 2012
November 16, 2012--The International Securities Exchange listed new options classes during the week beginning November 12, 2012 as described below.
Effective Wednesday, November 14, 2012, the ISE will list options on the following product(s) along with their related symbol(s):
Bin 6- UBS Securities LLC
Equity
Sandstorm Gold Ltd. (Symbol: SAND, Trading Symbol(s): SAND) will trade on a March expiration cycle with exercise and position limits of 50000.
Nationstar Mortgage Holdings Inc (Symbol: NSM, Trading Symbol(s): NSM) will trade on a January expiration cycle with exercise and position limits of 250000.
Bin 8 - Citadel Securities LLC Equity
Active Network Inc. (Symbol: ACTV, Trading Symbol(s): ACTV) will trade on a January expiration cycle with exercise and position limits of 75000.
OECD-Latin American Economic Outlook
New SME policies needed to boost Latin America's growth, say OECD and ECLAC
November 16, 2012--After nearly a decade of continuous expansion, GDP growth in Latin America will slow from 4.4% in 2011 to 3.2% in 2012 and 4.0% in 2013.
The outlook remains relatively positive, but is exposed to global uncertainty and volatility. Latin American governments must act now to strengthen growth and development and counter these risks, according to the 2013 Latin American Economic Outlook, jointly produced by the OECD Development Centre and ECLAC.
“Now is the time for Latin America to go structural, to build on previous reforms and make further progress to reduce inequality and strengthen economic growth. The global context calls for structural change to enhance productivity, to enhance productivity in the region.” said OECD Secretary-General Angel Gurría, launching the report at the XXII Iberoamerican Summit in Spain. “SMEs in Latin America have the potential to act as catalysts and help the region drive up productivity. Greater coordination is needed to help SMEs overcome obstacles in terms of access to financing, human capital and innovation.”
view the Latin American Economic Outlook 2013
Pimco files with the SEC
November 16, 2012--Pimco has filed a post-effective amendment no.52, registration statement with the SEC.
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Fee Rate Advisory #2 for Fiscal Year 2013
November 15, 2012-The Securities and Exchange Commission is operating under a continuing resolution through March 27, 2013. Accordingly, the fees paid under Section 31 of the Securities Exchange Act will remain at their current rate until 60 days after the enactment of a regular appropriation for the Commission.
Under the Dodd-Frank Wall Street Reform and Consumer Protection Act, the Commission will be required to publish a revised fee rate 30 days after the Commission’s regular appropriation for FY 2012 is enacted, and this new fee rate will become effective 60 days after the appropriation is enacted. Until this time, the Section 31 fee rate will remain at the current rate of $22.40 per million. The Section 31 assessment on round turn transactions in security futures also will remain at $0.0042 per transaction.
SEC Issues Staff Summary Report of Examinations of Nationally Recognized Statistical Rating Organizations
November 15, 2012--The Securities and Exchange Commission today issued its second annual staff report on the findings of examinations of credit rating agencies registered with the SEC as Nationally Recognized Statistical Rating Organizations (NRSROs).
The staff determined that with one exception, all NRSROs appropriately addressed the staff's recommendations in the first annual report in 2011. In addition, the staff announced a new initiative to highlight compliance issues at credit rating agencies between examinations.
RBS PLC Launches Five RBS Rogers Enhanced ETNs
November 15, 2012--RBS Securities Inc. (RBSSI) today announced the launch of five exchange traded products in its growing suite of exchange traded notes (ETNs). The RBS Rogers Enhanced Commodity Exchange Traded Notes will be issued by The Royal Bank of Scotland plc (RBS plc) and will be listed on the NYSE Arca, Inc.
“We are pleased to announce the launch of the five RBS Rogers Enhanced ETNs which feature the combined experience of RBS and Wall Street investor Jim Rogers,” said Thomas Haines, Head of North American Custom Indices and Listed Products. “We believe these new ETNs offer investors a unique opportunity to get exposure to the innovative RICI EnhancedSM Indices.”
The following are the new RBS Rogers ETNs and their exchange ticker symbols.
RBS Rogers Enhanced Commodity ETN (RGRC)
RBS Rogers Agriculture ETN (RGRA)
RBS Rogers Enhanced Energy ETN (RGRE)
RBS Rogers Enhanced Industrial Metals ETN (RGRI)
RBS Rogers Enhanced Precious Metals ETN (RGRP)
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The
Global X files with the SEC
November 15, 2012--Global X has filed a post-effective amendment no. 90, registration statement with the SEC. This filing relates solely to the following series of the Registrant:
Global X Permanent ETF
Global X SuperIncome & MLP Index ETF
Global X SuperIncome Preferred ETF
Global X SuperIncome REIT ETF
Global X Activist Investor Holdings Index ETF
Global X Top Guru Holdings Index ETF
Global X Value Guru Holdings Index ETF
Financial Services Subcommittee Report Finds Decisions by Corzine, Lack of Communication Between Regulators Led to MF Global Bankruptcy and Loss of Customer Funds
November 15, 2012-The House Financial Services Subcommittee on Oversight and Investigations, chaired by Rep. Randy Neugebauer, released the full results of its year-long majority staff investigation into the collapse of MF Global on Thursday.
The report chronicles the demise of the 230-year old commodities brokerage firm, which declared bankruptcy in October 2011. MF Global’s failure was the eighth largest bankruptcy in U.S. history and resulted in a $1.6 billion shortfall in customer funds.
Despite the promise of Dodd-Frank that regulators would work together, what the Subcommittee’s investigation found is there was no meaningful coordination among the regulators who were responsible for the supervision of MF Global,” said Financial Services Committee Chairman Spencer Bachus. “This left each regulator with an incomplete understanding of the company’s financial health – and MF Global’s customers paid the price. This, once again, raises the question of whether regulators are so preoccupied writing hundreds of new rules that they’re missing the basics like safeguarding customer funds and protecting investors from financial frauds.”
view the Oversight and Investigation MF Global Report
GOP tension emerges over SEC, CFTC merger idea
November 15, 2012--Republican lawmakers at the top of Congress's agriculture committees are bristling over a recommendation from their GOP colleagues that would do away with a key financial regulator.
A new report issued by Republicans on the House Financial Services Committee on Thursday suggested that the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) streamline their operations, or potentially be combined into a single agency. The lawmakers behind the report, released Thursday, blasted the two regulators for failing to communicate before the collapse of the futures firm MF Global, previously headed by Jon Corzine.
That suggestion has sent top Republicans on the farming panels rushing to protect their turf, as any potential merging could mean they would lose jurisdiction over the CFTC, with much of the regulatory oversight falling to the banking panels.
CFTC Approves Position Limit Appeal
November 15, 2012--The Commodity Futures Trading Commission (CFTC) will move forward with an appeal of a federal district court's decision vacating the position limits rule. The Commission approved the appeal on a 3-2 vote.
“As part of the Dodd-Frank Act, Congress directed the Commission to limit promptly speculative positions in physical commodity futures and options contracts and economically equivalent swaps.
SEC Issues Staff Summary Report of Examinations of Nationally Recognized Statistical Rating Organizations
November 15, 2012--The Securities and Exchange Commission today issued its second annual staff report on the findings of examinations of credit rating agencies registered with the SEC as Nationally Recognized Statistical Rating Organizations (NRSROs).
The staff determined that with one exception, all NRSROs appropriately addressed the staff's recommendations in the first annual report in 2011. In addition, the staff announced a new initiative to highlight compliance issues at credit rating agencies between examinations.
DB-Synthetic Equity & Index Strategy-North America-ETF+ Monthly Directory-October 2012 ETPs
November 15, 2012--This document includes all US listed exchange-traded funds (ETFs) and exchange-traded vehicles (ETVs), plus a special section covering exchange-traded notes (ETNs).
The directory is organized by asset class and asset-class-related sub sections. Within each sub section it has also been sorted. For Equity and Fixed Income ETPs it is sorted by country (or sub region for regional products) in alphabetical order and by AUM in descending order, and for the other ETP asset classes it is sorted by sub sector in alphabetical order and by AUM in descending order. A number of key information points per product has been included in order to enable the reader to get an overview in their respective area of interest. Among the key numeric information we include avg. daily turnover, assets under management, and cash flows (all in $US).
