Americas ETP News
If your looking for specific news, using the search function will narrow down the results
CFTC Staff Provides Concepts and Questions Document Ahead of Joint CFTC-SEC Public Roundtable Discussion on Dodd-Frank Implementation
April 29, 2011--Staff of the Commodity Futures Trading Commission (CFTC) today released a document setting forth concepts that it is considering with regard to the effective dates of final rules for swaps under the Dodd-Frank Wall Street Reform and Consumer Protection Act.
The document, which is being provided to panelists participating in the May 2-3, 2011, public roundtable being hosted by the CFTC and the Securities and Exchange Commission (SEC), also presents a series of relevant questions concerning how to phase the implementation of new rules.
view Concepts and Questions, CFTC-SEC Staff Roundtable Discussion on Dodd-Frank Implementation
Source: CFTC.gov
Standard & Poor's Announces Changes In The S&P/TSX Venture Composite Index
April 28, 2011--Standard & Poor's will make the following changes in the S&P/TSX Venture Composite Index after the close of trading on Thursday, April 28, 2011:
The shareholders of Continental Minerals Corporation (TSXVN:KMK) have approved the Plan of Arrangement whereby the shares of the company will be acquired by Jinchuan Group Ltd. for $CDN2.60 cash per share.
Continental Minerals will be removed from the S&P/TSX Venture Composite Index after the close of Thursday, April 28, 2011.
The shareholders of UNX Energy Corp. (TSXVN:UNX) have accepted the Offer to Purchase from HRT Participacoes em Petroleo S.A. UNX Energy will be removed from the S&P/TSX Venture Composite Index after the close of Thursday, April 28, 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.
Source: Standard & Poors
Statement at SEC Open Meeting: Product Definitions and Regulation of Mixed Swaps
Commissioner Kathleen L. Casey
U.S. Securities and Exchange Commission
Washington, D.C.
April 27, 2011--Thank you, Chairman Schapiro. First, I want to join you in thanking the staff, and particularly the staffs of the Divisions of Trading and Markets and Corporation Finance, for their hard work on this release. While Dodd-Frank's rulemaking burden is a challenge for the Commission generally, joint rulemakings such as this one, which has required many months of coordination and negotiation with the CFTC, are particularly challenging. Today's proposal is a testament to the diligence, expertise, and diplomatic skill of our staff, and I commend them again for their efforts.
In thinking about this rulemaking, the overriding objective should be to provide clarity and regulatory certainty to the greatest degree possible to both market participants and regulators. That means, first, that we be clear about what products are regulated as swaps or security based swaps under Dodd-Frank and what products are not. Second, that within the universe of regulated swap products, we are clear about which are swaps regulated by the CFTC and which are security based swaps regulated by the Commission. And third, as to the category of mixed swaps, which are jointly regulated by both the CFTC and the SEC, that we provide clear rules of the road as to how the agencies will regulate these products.
read more
Source: SEC.gov
SPDR® ETF Family Announces Impact of Receiving Settlement Payment
April 28, 2011--The SPDR® Morgan Stanley Technology ETF today announced that the fund received payment as an authorized claimant from a class action settlement related to Broadcom Corp.
The total amount payable to the fund is listed below. When the fund calculates its net asset value (“NAV”) per share on Friday, April 29, 2011, it is estimated that the fund’s NAV will be impacted by the receipt of the corresponding payment in the amount stated below based on the shares outstanding as of April 28, 2011.
| Fund | Settlement Payment |
Shares Outstanding as
of April 28, 2011 |
Per Share Amount | |||
|
SPDR® Morgan
Stanley Technology ETF |
$98,039 | 3,250,108 | $0.0302 |
State Street manages $260 billion* in SPDR ETF assets worldwide (as of March 31, 2011) and is one of the largest ETF providers in the US and globally.
Source: State Street Global Advisors
ETSpreads, LLC files with the SEC
April 28, 2011--ETFSpreads, LLC has filed an application for exemptive relief with the SEC. Applicants are seeking an order for an exemption from Sections 2(a)(32), 5(a)(1), 17(a) and 22(d) of the 1940 Act and Rule 22c-1 under the 1940 Act to permit the
Exchange Traded Spreads Trust (the “Trust”) to create and operate four (4) actively-managed series of the Trust (the “Initial Funds”) that offer exchange-traded shares (“Shares”) with limited redeemability.
view filing
Source: SEC.gov
Bernanke Says Fed to Keep Stimulus, Further Easing Unlikely
April 28, 2011--Federal Reserve Chairman Ben S. Bernanke signaled the Fed will maintain its record monetary stimulus after ending large-scale bond purchases in June, while the need to contain inflation means further easing is unlikely.
"It’s not clear that we can get substantial improvements in payrolls without some additional inflation risk,” Bernanke said at his first press conference following a meeting of the Federal Open Market Committee. “Ultimately, if -- if inflation persists or if inflation expectations begin to move, then there’s no substitute for action,” Bernanke said. “We would have to respond.”
read more
Source: Bloomberg
Brazil's boom masks growing vulnerabilities
April 28, 2011--It has been almost 50 years since Astrud Gilberto and Stan Getz recorded the bossa-nova hit “The Girl from Ipanema”. Much has changed in Brazil since they sang of the tanned Rio de Janeiro beauty: “When she walks, she’s like a samba.”
The song has become elevator music and the young girl from Rio’s most famous beach district is now a grandmother. But not all the loveliness has faded. In some ways, those wistful days have returned. Brazil, once more, is enjoying the kind of economic boom it did when the song was first recorded.
read more
Source: FT.com
Standard & Poor's Announces Changes In The S&P/TSX Venture Composite Index
April 28, 2011-Standard & Poor's will make the following changes in the S&P/TSX Venture Composite Index after the close of trading on Thursday, April 28, 2011:
The shareholders of Continental Minerals Corporation (TSXVN:KMK) have approved the Plan of Arrangement whereby the shares of the company will be acquired by Jinchuan Group Ltd. for $CDN2.60 cash per share.
Continental Minerals will be removed from the S&P/TSX Venture Composite Index after the close of Thursday, April 28, 2011.
The shareholders of UNX Energy Corp. (TSXVN:UNX) have accepted the Offer to Purchase from HRT Participacoes em Petroleo S.A. UNX Energy will be removed from the S&P/TSX Venture Composite Index after the close of Thursday, April 28, 2011.
Source: Standard & Poors
Speech By SEC Commissioner Kathleen L. Casey: Removal Of Credit Rating References From Exchange Act Rules
Commissioner Troy A. Paredes
April 27, 2011--Thank you, Chairman Schapiro.
Section 939A of the Dodd-Frank Act contemplates the removal of references to credit ratings in rules and forms under the federal securities laws, including the Securities Exchange Act of 1934. The recommendation before us goes toward giving effect to this provision of Dodd-Frank.
I support the recommendation but do have concerns about its practical impacts, especially the consequences that could flow from the proposed amendments to the Net Capital Rule (Exchange Act Rule 15c3-1). Notwithstanding the benefits that could come from removing the ratings references, there are countervailing considerations that the rulemaking must account for. For example, to what extent might the proposed changes to Rule 15c3-1, if adopted, lead broker-dealers to hold different proprietary positions? What impact could this have on investors and issuers? How might the prospect of being second-guessed influence the haircuts broker-dealers take? If ratings references are removed, might broker-dealers come to rely too much on some other measure or indication of creditworthiness, such as the credit assessment of a third party that is not an NRSRO? In what ways might the proposal, if adopted, affect the activities and competitiveness of smaller broker-dealers?
read more
Source: SEC.gov
Van Eck files with the SEC
April 27, 2011--Van Eck has filed a post-effective amendment, registration statement with the SEC for the Market Vectors Business Development Company/Specialty Finance ETF.
view filing
Source: SEC.gov
