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Rydex files with the SEC
September 13, 2010--Rydex has filed a post-effective amendment, registration statement with the SEC for
DOMESTIC EQUAL WEIGHT ETFS
Rydex Russell MidCap Equal Weight ETF
Rydex Russell 1000(R) Equal Weight ETF
Rydex Russell 2000(R) Equal Weight ETF
INTERNATIONAL EQUAL WEIGHT ETFS
Rydex Russell BRIC Equal Weight ETF
Rydex Russell Greater China Large Cap Equal Weight ETF
Rydex MSCI EAFE Equal Weight ETF
Rydex MSCI Emerging Markets Equal Weight ETF
Rydex MSCI ACWI Equal Weight ETF
view filing
Source: SEC.gov
First Trust files with the SEC
September 13, 2010--First Trust has filed an amended application for exemptive relief with the SEC.
view filing
Source: SEC.gov
AdvisorShares files with the SEC
September 13, 2010--AdvisorShares has filed a post-effective amendment, registration statement with the SEC.
view filing
Source: SEC.gov
SEC Approves Rules Expanding Stock-by-Stock Circuit Breakers and Clarifying Process for Breaking Erroneous Trades
September 10, 2010--The Securities and Exchange Commission today approved new rules submitted by the national securities exchanges and FINRA to expand a recently-adopted circuit breaker program to include all stocks in the Russell 1000 Index and certain exchange-traded funds. The SEC also approved new exchange and FINRA rules that clarify the process for breaking erroneous trades.
The circuit breaker pilot program was approved in June in response to the market disruption of May 6 and currently applies to stocks listed in the S&P 500 Index. Trading in a security included in the program is paused for a five-minute period if the security experiences a 10 percent price change over the preceding five minutes. The pause gives the markets an opportunity to attract new trading interest in an affected stock, establish a reasonable market price, and resume trading in a fair and orderly fashion. The circuit breaker program is in effect on a pilot basis through Dec. 10, 2010.
view list of exchange-traded products included in the pilot
Source: SEC.gov
CFTC Determines to Not Issue Grandfather Relief for Bilateral Exempt Commodity Swaps at this Time; Commits to Using Available Exemptive Authorities in the Future
September 10, 2010--The Commodity Futures Trading Commission (“CFTC”) today issued a notice that it has determined not to issue grandfather relief at this time to parties that petition the Commission to continue to operate in reliance upon the Commodity Exchange Act’s (“CEA’s”) exempt commodity exemption for bilateral swaps after the deletion of that provision from the CEA by the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank Act”).
Effective July 15, 2011, the Dodd-Frank Act will delete various provisions from the CEA that were first established by the Commodity Futures Modernization Act of 2000 to permit the trading of derivative instruments off of regulated markets. Among other such provisions, the Dodd-Frank Act will strike the exempt commodity exemption, which generally provides that bilateral swaps between certain sophisticated counterparties in exempt commodities (i.e., energy and metals products) are exempt from all of the provisions of the CEA, except for the anti-fraud and anti-manipulation provisions.
Although the Dodd-Frank Act authorizes the CFTC to grant grandfather relief to parties seeking to continue their reliance on the exempt commodity exemption after its deletion from the CEA, the CFTC is issuing notice that it will not be granting any such grandfather relief.
Rather than issuing blanket grandfather relief at the present time, the CFTC determined that it is more appropriate to accommodate transitioning issues for bilateral swaps activity in the context of the rulemaking process for Dodd-Frank Act-required regulations. If such activity presents difficulties that cannot be addressed in final regulations, the Commission is committed to use its available exemptive authorities to address such a situation.
Source: CFTC.gov
CFTC.gov Commitments of Traders Reports Update
September 10, 2010---The CFTC.gov Commitments of Traders Reports for the week of September 7, 2010 are now available.
view update
Source: CFTC.gov
Standard & Poor's Announces Changes In S&P/TSX Canadian Indices
September 10, 2010--Standard & Poor's Canadian Index Operations announces the following index changes as a result of the Quarterly S&P/TSX Composite Index Review.
These changes will be effective at the open on Monday, September 20, 2010:
view changes
Source: Standard & Poors
Concurring Statement Regarding the Treatment of Petitions Seeking Grandfather Relief Pursuant to Section 723 of the Dodd-Frank Act for Trading Activity Done in Reliance Upon Section 2(h)(1)-(2)
Commissioner Scott D. O’Malia
September 10, 2010
I concur in the Commission’s decision to presently decline to grant relief under Section 723 of the Dodd-Frank Act to persons transacting business in exempt commodities in reliance upon Sections 2(h)(1)-(2) of the Commodity Exchange Act (the “Act”). While the Commission has chosen to decline to grant relief at this time, it is not restricted from using its authority to address and provide relief to such persons in the future.
. In an effort to proactively ensure the smoothest possible transition of these bilateral markets for transactions in exempt commodities into the new regulatory landscape, it is my hope that the Commission will revisit the issue at least ninety days prior to the Dodd-Frank Act effective date. The Commission remains committed to the efficient functioning of the markets in exempt commodities, and the path that we take in each rulemaking under the Dodd-Frank Act will only be enhanced by the comments we receive. Therefore, I urge all market participants who currently rely on Sections 2(h)(1)-(2) of the Act to help shape the new regulatory frontier by submitting their comments to the Commission.
Source: CFTC.gov
CFTC Grandfather Relief to Exempt Commercial Markets and Exempt Boards of Trade
September 10, 2010-- The Commodity Futures Trading Commission (CFTC) today issued separate orders to permit exempt commercial markets (ECMs) and exempt boards of trade (EBOTs) to continue to operate as ECMs or EBOTS temporarily after the deletion of the ECM- and EBOT-enabling provisions from the Commodity Exchange Act (CEA) by the Dodd-Frank Wall Street Reform and Consumer Protection Act.
The CFTC anticipates that many entities that currently operate as ECMs or EBOTs will seek to become either swap execution facilities (SEFs) or designated contract markets (DCMs) when the CFTC adopts regulations implementing the Dodd-Frank Act’s requirements for those facilities. Although the Commission will be adopting new SEF and DCM regulations prior to July 15, 2011 – the effective date for deleting the ECM and EBOT provisions from the CEA – it also anticipates that, concurrent with the implementation of those new provisions, it will have to process a large number of SEF and DCM applications from ECMs, EBOTs and other interested parties. To ease this congestion of applications and to facilitate the transition of current ECM and EBOT businesses to the new regulatory regime mandated by the Dodd-Frank Act, the Commission determined that it is appropriate to provide grandfather relief to certain ECMs and EBOTs to temporarily continue their ECM and EBOT operations after July 15, 2011.
The two orders set forth various conditions for receiving grandfather relief, including the filing of both a relief petition and a SEF or DCM application with the CFTC.
The orders will become effective upon publication in the Federal Register.
Source: CFTC.gov
CFTC to Host Public Roundtable on the Proposed Ownership and Control Report
September 9, 2010--– Staff from the Commodity Futures Trading Commission (CFTC) will lead a public roundtable on September 16, 2010, to discuss the Commission’s proposed Ownership and Control Report (OCR). The roundtable will provide the public and CFTC staff with an opportunity to address issues raised in the Commission’s notice of proposed rulemaking related to the OCR, published in the Federal Register on July 19, 2010.
As explained in the Notice, the proposed OCR calls for the collection of ownership, control and related information for all trading accounts active on U.S. futures exchanges and other reporting entities.
The OCR roundtable will be held in the Lobby Level Hearing Room of the Commission’s Headquarters, at Three Lafayette Centre, 1155 21st Street, NW, Washington DC. It will be open to the public with seating on a first-come, first-served basis. Members of the public also may listen by telephone. Call-in participants should be prepared to provide their first name, last name and affiliation. The information for the conference call is below.
US/Canada Toll-Free: (866) 312-4390
International Toll: (404) 537-3379
Conference ID: 94281936
read more
Source: CFTC.gov
