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FINRA Issues Guidance to Firms, Brokers on Communications with Public Through Social Networking Web Sites
January 25, 2010--FINRA Issues Guidance to Firms, Brokers on Communications with Public Through Social Networking Web Sites.
The guidance in Regulatory Notice 10-06, which is presented in Q&A format, clarifies the responsibilities of firms to supervise the use of social networking sites to ensure that recommendations are suitable and their customers are not misled. The Notice also addresses the recordkeeping and other responsibilities of firms.
"Social networking sites and blogs raise new regulatory challenges, particularly in the areas of supervision, advertising and books and records requirements," said FINRA Chairman and CEO Rick Ketchum. "Our goal in issuing this Notice is to ensure that firms and brokers use social networking sites in an appropriate manner."
The Notice emphasizes that each firm must develop its own policies and procedures — in the context of its own particular business model and compliance and supervisory programs — designed to ensure that the firm and its personnel are complying with all applicable regulatory requirements when using social networking sites. Some technology providers are developing systems that are intended to enable firms to retain records of communications made through social networking sites. As the Notice states, however, "FINRA does not endorse any particular technology to keep such records, nor are we certain that adequate technology currently exists."
Regulatory Notice 10-06 is a response to the expressed need for guidance explaining how FINRA rules governing communications with the public, recordkeeping and supervision apply to social networking sites. FINRA has previously issued guidance on the application of communications regulations to Internet communications in its Guide to the Internet for Registered Representatives, as well as in numerous podcasts.
In developing the Regulatory Notice, the FINRA staff was informed by its own experience in applying FNRA rules to electronic communications, by its conversations with experts in social networking technology, and by the work of a Social Networking Task Force composed of compliance and other representatives of 14 firms.
view Regulatory Notice 10-06
Source: FINRA.org
CFTC’s Division of Clearing and Intermediary Oversight Provides Annual Report Guidance to Commodity Pool Operators
January 22, 2010--The Commodity Futures Trading Commission’s Division of Clearing and Intermediary Oversight has issued its annual guidance letter to registered commodity pool operators (CPOs).
The letter is intended to assist CPOs and their public accountants in complying with the Commission’s regulations on the preparation and filing of commodity pool annual financial reports.
The highlights contained in this year’s letter include:
• Recent amendments to Commission regulations pertaining to various reporting issues;
• Annual report filing procedures and due dates;
• Special considerations that apply to filings made for Master/Feeder and Fund of Funds structures;
• Use of International Financial Reporting Standards in lieu of U.S. generally accepted accounting principles;
view the 2009 Annual Report Guidance Letter to Commodity Pool Operators
Source: CFTC.gov
CFTC Grants ICE Clear Europe Limited Registration as Derivatives Clearing Organization
January 25, 2010--The Commodity Futures Trading Commission issued an Order on Friday, January 22, 2010, granting ICE Clear Europe Limited (ICE Clear Europe) registration as a derivatives clearing organization (DCO) pursuant to Section 5b(b) of the Commodity Exchange Act. ICE Clear Europe is a private limited company organized under the laws of England and Wales.
Pursuant to an order that the Commission issued on July 23, ICE Clear Europe has operated within the United States as a multilateral clearing organization. ICE Clear Europe clears energy-based contracts and credit default swap contracts on European reference entities. As a registered DCO, ICE Clear Europe is authorized to clear futures contracts, options on futures contracts, commodity options and over-the-counter derivative contracts.
Source: CFTC.gov
Standard & Poor's Announces Changes In The S&P/TSX Venture Composite
January 25, 2010--Standard & Poor's will make the following changes in the S&P/TSX Venture Composite Index after the close of trading on Monday, January 25, 2010:
Navasota Resources Ltd. (TSXVN:NAV) will trade under the new name Anglo Aluminum Corp. and the new ticker symbol "ALU". There is no consolidation of capital. The new CUSIP number will be 034860 10 6.
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
RiskMetrics puts itself up for sale: reports
January 25, 2010--RiskMetrics Group, the New York-listed risk and governance company, has reportedly put itself up for sale with an asking price that could reach $1.3bn, just months after a huge spending spree last year in the ESG research market when it bought KLD and Innovest.
Media reports claim that Evercore Partners, the New York-based boutique M&A investment bank, has been hired to approach a number of media companies and private-equity firms including Bloomberg, McGraw-Hill, Thomson Reuters and MSCI, the index house, about a potential acquisition.
read more
Source: Responsible Investor
Emerging Markets Week in Review -1/11/2010 - 1/15/2010
January 21, 2010--he Dow Jones Emerging Markets Composite Index slid 2.33% last week, as the Financial sector weighted heavily on the broad market. As China made steps last week to rein in liquidity and investors worried that property prices have been driven too high by speculative demand as this news dragged Financials down by 4.33%.
Technology stocks were the only positive sector last week, up 4.48%, and have been the best performing sector so far in 2010.
In recent weeks, the Obama administration has promised new taxes on U.S. banks in order to recover taxpayer money originally used to rescue the financial system. As Washington turns up the heat on Wall Street, Bob Holderith, Founder and President of Emerging Global Advisors LLC, offers his perspective on how the proposed actions have created investment opportunities overseas. Click here to read Bob's comments
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Source: Emerging Global Advisors
Assets in Canadian ETFs surpass $30 billion
ETFs raise $8.5 billion in net new assets in 2009
January 22, 2010--Investors in Canada continued to embrace exchange-traded funds in 2009, pushing total ETF assets under management above $30 billion, iShares reported on Friday.
The latest data from BlackRock, Inc., which owns the iShares ETF business, shows that Canadian ETFs raised $8.5 billion in net new assets in 2009, up from $7.1 billion in 2008.
This rapid growth contributed to a worldwide trend that saw global ETF assets hit an unprecedented US$1 trillion at the end of December 2009.
read more
Source: Investment Executive
First Trust files with SEC for First Trust BICK Index Fund
January 22, 2010--First Trust has files a preliminary Prospectus with the SEC for
First Trust BICK Index Fund
Ticker Symbol:BICK
Exchange:The NASDAQ(R) Stock Market
Investment Objective
The Fund seeks investment results that correspond generally to the price and
yield (before the Fund's fees and expenses) of an equity index called the ISE
BICK (TM) (Brazil, India, China, South Korea) Index (the "Index").
read more
Source: SEC.gov
iShares files with the SEC
January 22, 2010--iShares has filed a prospectus for
iShares MSCI Poland Investable Market Index Fund
view filing
Source: SEC.gov
iShares files with the SEC
January 22, 2010-iShares has filed a prospectus with the SEC for
Shares MSCI New Zealand Investable Market Index Fund
view filing
Source: SEC.gov