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Cantor Fitzgerald ordered to pay $7.3M for allegedly selling unregistered stocks
Two executives suspended and fined
December 21, 2015--The Financial Industry Regulatory Authority ordered investment bank Cantor Fitzgerald & Co. to pay $7.3 million in sanctions for allegedly selling billions of unregistered microcap shares and having inadequate supervisory policies and anti-money laundering programs in place, the regulator announced on Monday.
Two executives were also suspended and fined.
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Source: investmentnews.com
AdvisorShares Weekly Market Update-The FOMC Awakens
December 21, 2015--For the week of December 14-December 18
Macro
The Federal Open Market Committee (FOMC) raised rates
for the first time in nine years as was widely telegraphed by Fed governors if not overtly stated yet somehow markets
reacted on Thursday and Friday as if they'd been hit in the face with a frying pan.
Wednesday, both equity prices and
treasury yields moved higher but then Thursday and Friday equity prices tumbled lower perhaps questioning growth
prospects while treasury yields moved lower too giving fuel to the deflationary argument that exists and includes the dramatic and ongoing decline in West Texas Intermediate
Crude which was down 2.68% this past week after a 10% drop the week before.
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Source: AdvisorShares
Indxx LLC Launches the Indxx Global Natural Resources Income Index, Licensed to First Trust for Exchange Traded Fund
December 21. 2015---Indxx LLC is pleased to announce the launch of the Indxx Global Natural Resources Income Index (the "Index"). The Index has been licensed to noted Wheaton, Illinois-based ETF issuer First Trust Advisors L.P. for their exclusive use as the underlying benchmark for the First Trust Indxx Global Natural Resources Income ETF, which began trading today (NASDAQ: FTRI).
The ETF previously traded under a different symbol (NASDAQ: CU), and tracked a different underlying benchmark.
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Source: Indxx LLC
More time for US regulators to weigh up IEX application
December 19, 2015--US regulators are getting another three months to weigh the hotly debated efforts of IEX, the US trading venue at the heart of Michael Lewis's book Flash Boys, to become a registered exchange.
A successful application would put IEX on an equal footing with the New York Stock Exchange, Nasdaq and BATS Global Markets.
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Source: FT.com
Fed to raise rates again in March, follow up with fewer hikes
December 19, 2015--The US Federal Reserve will raise interest rates again in the next three months, according to two-thirds of economists polled by Reuters, although many say rates won't rise as quickly next year as policymakers have suggested.
The Fed hiked rates for the first time in nearly a decade on Dec 16, confident the US economy can stand higher borrowing costs after years of stimulus and near-zero rates, although Janet Yellen, who chairs the rate-setting Federal Open Mark
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Source: Today's Zaman
CFTC Approves Final Rule on Records of Commodity Interest and Related Cash or Forward Transactions
December 18, 2015--The U.S. Commodity Futures Trading Commission today unanimously approved a final rule to amend Commission Regulation 1.35(a) relating to recordkeeping obligations for certain market participants
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Source: CFTC.gov
Would-be exchange IEX says it gave SEC 90 extra days to decide its fate
December 18, 2015--IEX Group, the upstart stock trading venue featured in the Michael Lewis book "Flash Boys: A Wall Street Revolt," on Friday said it granted regulators an extra three months to decide whether to approve its application to become a registered exchange.
The U.S. Securities and Exchange Commission was due to make a decision the status of IEX, which operates as an alternative trading system, on Dec. 21, 90 days after the company,submitted its application to the regulator, or to declare it needs more time to do so.
CFTC.gov Commitments of Traders Reports Update
December 18, 2015--The current reports for the week of December 15, 2015 are now available.
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Source: CFTC.gov
SEC Issues Staff Report on Accredited Investor Definition
December 18, 2015The Securities and Exchange Commission today issued a staff report on the accredited investor definition. The Dodd-Frank Wall Street Reform and Consumer Protection Act directs the Commission to review the accredited investor definition as it relates to natural persons every four years to determine whether the definition should be modified or adjusted.
Staff from the Divisions of Corporation Finance and Economic and Risk Analysis prepared the report in connection with the first review of the definition.
view the SEC Report on the Review of the Definition of "Accredited Investor"
Source: SEC.gov
MIG-Life After Liftoff
December 18, 2015--What happened this week?
The Fed's "apologetic increase" played out precisely as we expected
Market response was also in line with what we had written before the FOMC meeting
What are the key takeaways from this week's FOMC statement?
Inflation remains the primary focus of the FOMC going forward
They will be highly attuned to how much inflation actually materializes
The FOMC formalized its bias for a slow and gradual pace of future increases
What do investors need to know?
A slow and gradual pace is a bias-not a commitment
Actual inflation will drive the Fed's pace of rate increases
Our base case is for four rate increases in 2016- but after a lengthy pause
The next rate increase will be in June with three more in 2016
With inflation gaining momentum we expect there to be up to seven rate hikes in 2017
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Source: MIG (Macro Insight Group)
