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President Obama Establishes Interagency Financial Fraud Enforcement Task Force
Attorney General Eric Holder, Treasury Secretary Tim Geithner, Housing and Urban Development (HUD) Secretary Shaun Donovan, and Securities and NOVEMBER 17, 2009--Exchange Commission (SEC) Chairwoman Mary Schapiro today announced that President Barack Obama has established by Executive Order an interagency Financial Fraud Enforcement Task Force to strengthen efforts to combat financial crime.
The Department of Justice will lead the task force and the Department of Treasury, HUD and the SEC will serve on the steering committee. The task force's leadership, along with representatives from a broad range of federal agencies, regulatory authorities and inspectors general, will work with state and local partners to investigate and prosecute significant financial crimes, ensure just and effective punishment for those who perpetrate financial crimes, address discrimination in the lending and financial markets and recover proceeds for victims.
The task force, which replaces the Corporate Fraud Task Force established in 2002, will build upon efforts already underway to combat mortgage, securities and corporate fraud by increasing coordination and fully utilizing the resources and expertise of the government's law enforcement and regulatory apparatus. The attorney general will convene the first meeting of the Task Force in the next 30 days.
Invesco Trimark climbs on ETF wagon
November 16, 2009--In a dramatic move that will reshape the Canadian investment landscape for both financial advisors and their clients, Invesco Trimark Ltd. on Monday becomes the first domestic broker-sold mutual-fund company to embrace exchange-traded funds (ETFs).
Invesco Trimark's eight new PowerShares funds, launched Monday, are a hybrid of ETFs and mutual funds. Inside these prospectus mutual funds are versions of PowerShares ETFs trading on U.S. stock exchanges, as well as two new funds focused on Canadian securities and dividend-paying stocks.
Barclays Global Investors Lists the iShares® Diversified Alternatives Trust on NYSE Arca
November 16, 2009--NYSE Euronext (NYX) announced that its wholly-owned subsidiary, NYSE Arca, today began trading the iShares® Diversified Alternatives Trust (Ticker: ALT). The trust is sponsored by iShares® Delaware Trust Sponsor LLC.
The investment objective of the trust will be to maximize absolute returns from its portfolio of foreign currency forward contracts and exchange-traded futures contracts that may involve commodities, currencies, interest rates and certain eligible stock or bond indices while seeking to reduce the risks and volatility inherent in those investments by taking long and short positions in historically correlated assets.
The trust also expects to earn interest on the assets used to collateralize its trading positions. The return on assets in the portfolio, if any, will not be intended to track the performance of any index or other benchmark.
Index IQ files prospectus with the SEC
November 16, 2009--Index IQ has filed a prospectus with the SEC for 13 ETFs.
IQ Intl Australia Small Cap ETF
IQ Intl Canada Small Cap ETF
IQ Intl Hong Kong Small Cap ETF
IQ Intl Indonesia Small Cap ETF
IQ Intl Malaysia Small Cap ETF
IQ Intl Singapore Small Cap ETF
IQ Intl South Korea Small Cap ETF
IQ Intl Taiwan Small Cap ETF
IQ Intl Thailand Small Cap ETF
IQ Global Natural Gas Small Cap Equity ETF
IQ Global Crude Oil Small Cap Equity ETF
IQ Global Gold Small Cap Equity ETF
IQ Global Agribusiness Small Cap Equity ETF
Fidelity files prospectus with the SEC
November 16, 2009--Fidelity Investments has filed a prospectus with the SEC for
Fidelity® Nasdaq Composite® Index Fund-Tickier:FNCMX
Investment Objective
The fund seeks to provide investment returns that closely correspond to the price and yield performance of the Nasdaq Composite Index (Index).
Global X Funds files with the SEC
November 16, 2009--Global X Funds has filed a prospectus with the SEC for
Global X China Consumer ETF-
Trading Symbol: CHIQ
Global X China Energy ETF-Trading Symbol: CHIE
Global X China Financials ETF-Trading Symbol: CHIX
Global X China Industrials ETF-Trading Symbol: CHII
Global X China Materials ETF-Trading Symbol: CHIM
Global X China Technology ETF-Trading Symbol: CHIN
First Trust files with SEC
November 16, 2009--First Tust has filed a registration statement with the SEC for the
First Trust NASDAQ(R) Clean EdgeSmart Grid Infrastructure Index Fund
Ticker:GRID
PRINCIPAL INVESTMENT STRATEGIES
The Fund will normally invest at least 90% of its net assets in common stocks
that comprise the Index or in depositary receipts that may include American
Depositary Receipts ("ADRs"), Global Depositary Receipts ("GDRs"), European
Depositary Receipts ("EDRs") or other depositary receipts (collectively
"Depositary Receipts") representing securities in the Index.
Kelly Capital has launched the world's first pair of 100x leveraged exchange-traded funds.
November 16, 2009--Kelly Capital has launched the world's first pair of 100x leveraged exchange-traded funds.
The Kelly Daily Nasdaq 100 Bull 100x Shares (Soar) and Kelly Daily Nasdaq 100 Bear 100x Shares (Sink) seek to replicate, net of expenses, 10,000 per cent of the daily performance of the Nasdaq 100 Index in the case of Soar, and 10,000 per cent of the inverse daily performance in the case of Sink.
The funds will invest at least 80 per cent of assets in securities that comprise the index. They will also use financial instruments that, in combination, provide leveraged and unleveraged exposure to the index. The funds are non-diversified.
"These are intended for attentive traders only," says Kelly Capital chief executive officer Jason Kelly. "The extreme leverage employed will cause both funds to go bankrupt within the course of most trading days. However, those paying attention during the day will be able to manoeuvre in and out of the funds before they crash to zero."
Invesco gives Canadian investors access to PowerShares ETFs
November 16, 2009--Invesco has launched a suite of funds for Canadian investors which combine the key features of exchange-traded funds traded on US exchanges with those of mutual funds offered in Canada.
The following eight funds are now available:
1. PowerShares FTSE RAFI Canadian Fundamental Index Class: invests in companies incorporated in Canada with the highest fundamental weightings
2. PowerShares Canadian Dividend Index Class: invests in companies incorporated in Canada that are traded on a major Canadian exchange and have had stable or increasing annual regular dividend payments for the past five or more consecutive years
3. PowerShares Global Agriculture Class: invests primarily in issuers engaged in the agriculture or farming industries, or who provide goods and/or services to companies engaged in such industry sectors
4. PowerShares Global Gold and Precious Metals Class: invests primarily in issuers from around the world engaged in gold and other precious metals mining industry sectors
5. PowerShares Global Water Class: invests in issuers from around the world engaged in the water industry
6. PowerShares Global Clean Energy Class: invests primarily in issuers from around the world engaged in cleaner energy and conservation
7. PowerShares FTSE RAFI Emerging Markets Fundamental Class: invests primarily in issuers engaged in emerging markets with the highest fundamental weightings
8. PowerShares Golden Dragon China Class: invests primarily in issuers in China listed on US exchanges
BROKER'S WORLD CANADA:RBC Tightens Leveraged ETF Policy -Correction
November 16, 2009--Royal Bank of Canada (RY) has opted to be choosy on which type of investors in Canada can purchase leveraged Exchange-Traded funds.
In recent months, RBC Dominion Securities, the retail brokerage arm of the Canadian bank, has started to sell leveraged ETFs only to accounts that have been approved for options trading. Some leveraged ETFs have options as part of underlying securities to ensure limited risk in investments.
The new policy is effective for investment adviser-managed fee-based and transactional commission-based acccounts, said Mike Scott, managing director for RBC Dominion.
Regulators have warned firms about the complexity of leveraged ETFs and urged them to require advisers to conduct suitability analyses before selling the product.
DB Commodity Services Re-Commences Issuance Of Shares of the PowerShares DB US Dollar Index Bullish Fund
November 12, 2009--DB Commodity Services LLC today announced that the
registration statement it filed on November 2, 2009 to register 100,000,000 additional shares of
the PowerShares DB US Dollar Index Bullish Fund (NYSE Arca: UUP) was declared effective
by the US Securities and Exchange Commission (SEC).
View 8K Filing
Van Eck files prospectus with the SEC
October 13, 2009-- Van Eck has filed a prospectus with the SEC for
Market Vectors Egypt Index ETF -NYSE ARCA Ticker: EGPT
Investment Objective
The Fund’s investment objective is to replicate as closely as possible, before fees and expenses, the price and yield performance of the Market Vectors Egypt Index (the “Egypt Index”).
Old Mutual Global files amended registration statement
October 13, 2009--Old Mutual Global Shares Trust has filed an amended registration statement with the SEC for
GlobalShares FTSE All-World Fund – GSW
GlobalShares FTSE Emerging Markets Fund – GSR
GlobalShares FTSE All-Cap Asia Pacific ex Japan Fund – GSZ
GlobalShares FTSE All-World ex US Fund – GSO
GlobalShares FTSE Developed Countries ex US Fund – GSD
U.S. weighs backing interim international climate agreement
Smaller-scale approach seen as first step toward full pact
November 13, 2009--Less than a month before negotiators will meet in Copenhagen with the lofty goal of crafting a deal to curb global greenhouse gas emissions, the Obama administration is considering endorsing a limited short-term climate pact and deferring more ambitious action until next year.
The scaled-back strategy is driven largely by the realities of domestic politics: The administration is hampered in making an international deal because Congress has not passed climate legislation. So any global pact would be postponed until next year when it would be constrained by whatever domestic climate legislation Congress enacts.
BATS Files With SEC To Launch Options Trading
Operator Of BATS Exchange And BATS Europe On Schedule For Early 2010 US Options Launch
November 13, 2009--November 13, 2009 – BATS Global Markets, an innovative global financial markets
technology company, today announced it officially filed rules with the Securities and Exchange
Commission (SEC) to launch a US equity options trading platform in early 2010 (announced separately
July 8, 2009).
“We reached an important milestone with formal filing of our options rule set as we continue to make
great progress toward a BATS Options go live early next year,” said Joe Ratterman, chief executive of
BATS Global Markets and BATS Exchange.
“The options markets are at a transformative stage and we intend to be a clear and loud voice in the current debate on topics like penny pricing, payment for order flow and step up auctions.
“As with the US equities market four years ago, we are launching an options market with the same goal -- to Make Markets Better by leading the way with great technology and simple, transparent pricing. We thank our investors, customers and technology partners for their continued support,” he said.
The BATS Options rule set filed with the SEC is available at www.batstrading.com.
BATS plans to make its options platform certification system available in December to BATS Exchange members for connectivity and testing.
The company also recently filed rules with the SEC for its second U.S. equities exchange (BYX)
(announced on September 17, 2009), also slated for launch in early 2010.
In just four years, BATS Exchange has captured 10% market share in U.S. equities. BATS Europe,
operating as a pan-European multilateral trading facility (MTF), currently executes 8% of the FTSE 100
and 3-5% of other major indices such as the CAC 40 and DAX only one year after launching.
