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iShares files with the SEC-iShares MSCI Australia Index Fund
December 20, 2011--iShares has filed with the SEC for the iShares MSCI Australia Index Fund.
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iShares files with the SEC-iShares MSCI Russia Capped Index Fund
December 20, 2011--iShares has filed a post-effective amendment, registration statement with the SEC for the iShares MSCI Russia Capped Index Fund.
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iShares files with the SEC
December 20, 2011--iShares has filed a post-effective amendment, registration statement with the SEC for the iShares MSCI All Peru Capped Index Fund.
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ProShares files with the SEC
December 20, 2011--ProFunds has filed a pre-effective amendment to Form S-1 with the SEC.
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Opening Statement, Seventh Open Meeting to Consider Final Rules, Pursuant to the Dodd-Frank Act
Commissioner Jill E. Sommers
December 20, 2011--Thank you Mr. Chairman. And, as always, I thank the teams who have worked so diligently on the final rules we are considering today.
Today we are considering very important data, recordkeeping, and reporting rules that are critical to ensuring that swap market activity is transparent to regulators and market participants alike. The rules we are voting on today seek to strike a balance between obtaining necessary and timely market data while attempting to minimize the associated costs and burdens on markets and market participants. Make no mistake, these rules certainly have costs associated with them, but swap data recordkeeping and reporting are mandated by Dodd-Frank. Our job as regulators is to understand that legislative mandate, to identify the regulatory objectives that will give effect to that mandate, and set out to achieve those objectives in the least costly and burdensome way. For the swap data recordkeeping and reporting rules to function properly, we need to ensure there is consistency among domestic and international regulators when it comes to unique swap identifiers, unique product identifies, and legal entity identifiers.
AdvisorShares files with the SEC
December 19, 2011--AdvisorShares has filed a post-effective amendment, registration statement with the SEC for the QAM Equity Hedge ETF.
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Global X Funds to Liquidate 8 ETFs
December 19, 2011--Global X Funds, the New York-based exchange- traded funds (ETFs), today announced the scheduled liquidation of the following Global X Funds ETFs:
Global X Russell Emerging Markets Growth ETF (EMGX)
Global X Russell Emerging Markets Value ETF (EMVX)
Global X Mexico Small-Cap ETF (MEXS)
Global X Oil Equities ETF (XOIL)
Global X Farming ETF (BARN)
Global X Fishing Industry ETF (FISN)
Global X Food ETF (EATX)
Global X Waste Management ETF (WSTE)
The Funds, which are listed for trading on NYSE Arca, Inc. (“NYSE Arca”), will close to new investors and cease trading on the NYSE Arca at the end of the trading day on February 16, 2012 and will liquidate on February 27, 2012. The Funds represent less than 2% of the assets of the Global X Funds. The Board of Trustees of Global X Funds unanimously determined that it was in the best interests of the Funds and their shareholders to liquidate the Funds.
Thursday, February 16, 2012, is scheduled to be the last day of trading for the shares of the Funds on NYSE Arca. Beginning February 17, 2012 through February 27, 2012, the Funds will be in the process of closing down and liquidating their portfolios. During this time, the Funds will not be pursuing their stated objectives and strategies and tracking their underlying indexes and their cash holdings will increase.
CFTC Issues Final Order Amending the Effective Date for Swap Regulation
December 19, 2011--The Commodity Futures Trading Commission (CFTC) today issued a Final Order regarding the effective date for swap regulation. On July 14, 2011, the CFTC granted temporary exemptive relief from certain provisions of the Commodity Exchange Act that otherwise would have taken effect on July 16, 2011,
the general effective date of title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act. On October 25, 2011, the CFTC proposed to extend the exemptive relief beyond the December 31, 2011, expiration date. Today’s Final Order addresses the comments received on the October 25, 2011, Notice of Proposed Amendment, and extends the potential latest expiration date of the exemptive relief to July 16, 2012.
Russell Global Index to gain 31 IPOs
U.S. small cap Russell 2000® Index accounts for 11 of global total
December 16, 2011--Russell Investments will add 31 initial public offerings (IPOs) to the Russell Global Index for the fourth quarter of 2011 on December 19th, including 11 additions to the U.S. small cap Russell 2000® Index, consistent with the firm's systematic quarterly process.
Of the 15 IPOs to be added to the Russell Global ex-U.S. Index, 12 are across the Asia-Pacific region, with eight falling into Asia-Pacific emerging markets as classified by Russell Indexes. Four companies become part of the Russell Greater China Index.
In the U.S., 16 IPOs will be added to the U.S. broad market Russell 3000® Index, including one to the large-cap Russell 1000® Index and 11 into the small-cap Russell 2000® Index. Four additional companies are joining the Russell MicrocapÒ Index. Overall, this is nine less IPOs than were added in U.S. in the third quarter of 2011. And the total of 31 IPOs to be added to the global index in the fourth quarter represents a significant drop from the 90 IPOs added in the third quarter of 2011.
“What the Euro Crisis Means for Taxpayers and the U.S. Economy”
Written Testimony of Deputy Assistant Secretary Mark Sobel Before the House Oversight and Government Reform Subcommittee on TARP, Financial Services and Bailouts of Public and Private Programs
December 16, 2011--
Introduction
Chairman McHenry, Ranking Member Quigley, thank you for this opportunity to discuss U.S. interests in European economic reform.
The European Economic Outlook is Weakening
Over the past year, economic and financial stresses in Europe have spread to some of Europe’s largest economies, and the crisis now facing Europe is deeper and more entrenched. Sovereign bond yields have risen sharply in many countries. Many European financial institutions have faced difficulties in obtaining funding from markets and are de-leveraging in order to strengthen their capital adequacy. European equities have fallen by a quarter since April.
These developments have resulted in a sharp weakening in Europe’s current growth performance and significant markdowns in growth projections for 2012. Growth in the euro area is projected by most analysts to be negative this quarter and into early 2012, with weak growth persisting in 2012. For example, the OECD, which earlier this year had projected annual average European growth in 2012 of 2.0 percent, just revised its estimate to 0.2 percent. Many private forecasters are more pessimistic.
Europe’s problems are a serious risk for the U.S. outlook In the United States, the pace of recovery has strengthened recently and most analysts expect continued moderate growth next year. But given Europe’s strong trade and financial linkages with the rest of the world, other regions could feel the impact as well. Indeed, Europe’s problems are a serious risk for the U.S. economic outlook.
Standard & Poor's Announces Changes In The S&P/TSX Venture Composite And Venture Select Indices
December 16, 2011-Standard & Poor's will make the following changes in the S&P/TSX Venture Composite and Select Indices:
On December 15, 2011, the shareholders of Silver Quest Resources Ltd. (TSXVN:SQI) approved the Arrangement Agreement whereby the company will be acquired by New Gold Inc. (TSX:NGD).
Silver Quest will be removed from the S&P/TSX Venture Composite and Venture Select Indices after the close of Monday, December 19, 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.
IndexIQ Announces Changes to its ETF Family
December 16, 2011--IndexIQ, a leading developer of index-based alternative investment solutions, today announced it plans to close three of its exchange-traded funds (ETFs). Combined assets in the designated funds represent approximately 1% of IndexIQ’s ETF assets. No further closures are planned.
The Board of Trustees of the IndexIQ ETF Trust approved the closures on December 14, 2011. The final day of trading on the NYSE Arca will be Friday, December 23, 2011. Shareholders who do not sell their fund shares by this date will have their shares automatically redeemed on December 30, 2011, the funds’ last day of operations.
The three closing funds are as follows:
IQ Taiwan Small Cap ETF (TWON)
IQ Hong Kong Small Cap ETF (HKK)
IQ Japan Mid Cap ETF (RSUN)
Exchange Traded Concepts Trust files with the SEC
December 16, 2011--Exchange Traded Concepts Trust has filed a post-effective amendment, registration statement with the the SEC for the Yorkville High Income MLP ETF.
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Treasury International Capital Data For October 2011
December 15, 2011--The U.S. Department of the Treasury today released Treasury International Capital (TIC) data for October 2011. The next release, which will report on data for November 2011, is scheduled for January 18, 2012.
Foreign residents increased their holdings of long-term U.S. securities in October — net purchases were $2.6 billion. Net purchases by private foreign investors were $10.1 billion, and net sales by foreign official institutions were $7.5 billion.
At the same time, U.S. residents decreased their holdings of long-term foreign securities, with net sales of $2.2 billion.
Taking into account transactions in both foreign and U.S. securities, the net foreign purchases of long-term securities were $4.8 billion. After including adjustments, such as estimates of unrecorded principal payments to foreigners on U.S. asset-backed securities, the overall net foreign acquisition of long-term securities is estimated to have been negative $13.4 billion in October.
Foreigners decreased their holdings of U.S. Treasury bills by $11.5 billion. Foreign holdings of all dollar-denominated short-term U.S. securities and other custody liabilities decreased by $41.0 billion.
Banks’ own net dollar-denominated liabilities to foreign residents increased by $0.7 billion.
of $48.8 billion. Of this, net foreign private outflows were $7.0 billion, and net foreign official outflows were $41.9 billion.
Standard & Poor's Announces Changes In The S&P/TSX Venture Composite Index
December 15, 2011--Standard & Poor's will make the following changes in the S&P/TSX Venture Composite and Select Indices:
The shares of Grayd Resource Corp. (TSXVN:GYD) will be removed from the S&P/TSX Venture Composite Index after the close of trading on Thursday, December 15, 2011.
The company has been acquired by Agnico-Eagle Mines Limited (TSX:AEM) through an Acquisition Agreement for cash and shares.
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.
