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FBR Report to the Congress on Credit Ratings
July 25, 2011--Executive Summary
Section 939A of the Dodd-FrankWall Street Reform and Consumer Protection Act (the act) requires each
federal agency to review its regulations and identify
(1) any regulation that requires the use of an assessment
of the creditworthiness of a security or money market instrument and (2) any references to or requirements in such regulations regarding credit ratings.
view report-Report to the Congress on Credit Ratings July 2011
Source: FBR
UBS launches two internet IPO Exchange Traded Notes
TWO ETRACS LINKED TO THE UBS INTERNET IPO INDEX COMPRISED OF
TWENTY SOCIAL NETWORKING, INTERNET SOFTWARE AND INTERNET SERVICES STOCKS
July 25, 2011--UBS Investment Bank announced that today is the first day of trading on the NYSE Arca
for two ETRACS Exchange Traded Notes (the “Internet IPO ETNs”) linked to the performance of the UBS Internet
IPO Index (the “Index”).
Investors now have the ability to gain either unleveraged or leveraged exposure to a portfolio of Internet-related companies that have gone public within the last three years, all by way of two, convenient exchange-traded securities.
Both Internet IPO ETNS are linked to a unique benchmark index that currently consists of twenty holdings representing the latest generation of Internet-related stocks such as LinkedIn, HomeAway, Pandora Media and OpenTable. Innovative index construction allows for the addition of new Internet-related companies within weeks after their IPOs, and a monthly Index rebalancing feature and 3-year age limit ensure that the companies in the Index remain up-to-date and relevant.
The ETRACs Internet IPO ETN (Ticker: EIPO) provides exposure to the performance of the Index, while the Monthly 2xLeveraged ETRACS Internet IPO ETN (Ticker: EIPL) provides a monthly compounded two times leveraged exposure to the performance of the Index.
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Source: ETRACS
CFTC Announces First Public Meeting of the Technology Advisory Subcommittee on Data Standardization
July 25, 2011--Subcommittee will Look Into Public/Private Solutions for Creating Well-Accepted Standards for Describing, Communicating, and Storing Data on Complex Financial Products
Washington, DC – The Commodity Futures Trading Commission (CFTC) today announced that on August 5, 2011, the Subcommittee on Data Standardization, a new Subcommittee of the CFTC’s Technology Advisory Committee, will hold a public meeting.
This will be the first of at least three subcommittee public meetings to occur this year, with the other two public meetings tentatively scheduled for September 30, 2011, and November 4, 2011.
The Subcommittee meeting will begin at 1pm in the Conference Center at the CFTC’s Headquarters, Three Lafayette Centre, 1155 21st Street, NW, Washington, DC. The discussion will be open to the public with seating on a first-come, first-served basis.
Members of the public also may listen by telephone and should be prepared to provide their first name, last name and affiliation.
Source: CFTC.gov
Global X files with the SEC
July 22, 2011--Global X has filed a post-effective amendment, registration statement with the SEC for the Global X Social Media Index ETF.
view filing
Source: SEC.gov
Yorkville files with the SEC
July 22, 2011--Yorkville ETF Trust has filed a Amended and Restated Application for exemptive relief with the SEC.
view filing
Source: SEC.gov
Rydex files with the SEC
July 22, 2011--Rydex has filed a post-effective amendment, registration statement with the SEC for the Rydex S&P MidCap 400 Equal Weight ETF -(EWMD) and the
Rydex S&P SmallCap 600 Equal Weight ETF -(EWSM)
view filing
Source: SEC.gov
iShares files with the SEC
July 22, 2011--iShares has filed a post-effective amendment, registration statement with the SEC for the iShares 2012 S&P AMT-Free Municipal Series Fund.
view filing
Source: SEC.gov
Global X building ETFs for fundamental global shifts
July 22, 2011--Global X is a prime example of the new wave of US exchange traded fund providers that have managed to build a substantial ETF business in a dizzyingly short period of time.
Global X launched its first ETF in February of 2009, but had accumulated assets of $1.6bn by the end of June this year.
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Source: FT.com
US court deals blow to investor activism
July 22, 2011--A US federal appeals court has thrown out new rules from the Securities and Exchange Commission intended to make it easier for shareholders to eject board members at listed companies, in a move that will be seen as a blow to investor activism.
Judges on Friday sided with the US Chamber of Commerce and the Business Roundtable, who had opposed “proxy access” measures that would force companies to bear much of the cost of proposing alternative candidates in boardroom elections.
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Source: FT.com
Schwab files with the SEC
July 22, 2011-Charles Schwab has filed a post-effective amendment no. 14, registration statement with the SEC for the Schwab U.S. Aggregate Bond ETF.
view filing
Source: SEC.gov
