Showing posts from January, 2013

NFA Press Release (January, 31, 2013).: National Futures Association adopts recommendations from an independent analysis of NFA's Peregrine Financial Group audits.

For Immediate Release For More Information Contact: Karen Wuertz (312) 781-1335, Larry Dyekman (312) 781-1372, National Futures Association adopts recommendations from an independent analysis of NFA's Peregrine Financial Group audits January 31, Chicago - The National Futures Association announced that at a special meeting of its Board of Directors today, the Board voted to accept the recommendations made by Berkeley Research Group (BRG) as part of its independent analysis of NFA's audits of Peregrine Financial Group, Inc. NFA staff will shortly develop a plan to act on the recommendations. The Board will also appoint a special committee to oversee the timely implementation of the recommendations. According to BRG, its 21 recommendations are "designed to improve the operations of NFA audits" based on the results of its analysis. The recommendations cover a wide range of topics, including audit

NFA News Facts Actions (January 31, 2013).: A letter from NFA's CEO and Chairman

January 31, 2013 A letter from NFA's CEO and Chairman Dear Members, We wanted to send you a personal update on all that has happened in the months following the collapse of Peregrine Financial Group Inc. (PFG), and let you know that we have taken steps to refine and improve our regulatory practices and better protect you, your customers and the industry in the wake of this tragic situation. As you know, in July 2012, PFG filed for bankruptcy following the attempted suicide of its former president and CEO Russell Wasendorf, Sr., and subsequent discovery that he had defrauded PFG customers by using segregated funds for his personal gain and submitting falsified records to NFA and the Commodity Futures Trading Commission (CFTC). Shortly after we uncovered the PFG fraud, a Special Committee of NFA's public directors commissioned an independent review of our audit practices and procedures by Berkeley Research Group (BRG). As part of the review, BRG a

NYT | Global Update (January 31, 2013).: Hagel's Views Come Under Harsh Scrutiny by Republicans

January 31, 2013 Compiled 21:45 GMT Global Update TOP NEWS Hagel's Views Come Under Harsh Scrutiny by Republicans By ELISABETH BUMILLER Chuck Hagel, President Obama's nominee to be secretary of defense, met with sharp and sometimes angry questions on a wide range of issues at his Senate confirmation hearing. At War Blog: Chuck Hagel and the Wisdom of Grunts Syria's Confirmation of Strike May Add to Tension With Israel By JODI RUDOREN Experts said Israel's refusal to confirm its Wednesday attack was part of a strategy to give targets face-saving ways to avoid escalation. But Syria

Money Show Investors Daily Alert (January 31, 2013).: Surfing the Investment Zeitgeist

INVESTORS DAILY ALERT The Daily Guru Finding Long-Term Growth Beyond Value , Stephen Grant No-Nonsense Investing 4 Reasons Apple Won't See $700 Again , Howard Gold Jim Jubak on The US Isn't Alone TOP PROS' TOP PICKS A Buy and Hold Gem , Timothy Lutts 2 Champions of the Fiscal Cliff , John Mauldin GURUS' VIEWS & STRATEGIES Kick the Can and Hope for Change , Genia Turanova CHARTS IN PLAY Dumping the Junk? , Tom Aspray IDEAS FROM AROUND THE WORLD China Can't Get Enough Silver , Tony Daltorio Today's Featured Videos & Exclusive Interviews Surfing the Investment Zeitgeist , Mike Franklin What Long-Term Investors Need to Know , Jack Ablin Covered Calls for Conservative Investors , Mike Scanlin

The Economist | Business this week: Highlights of news coverage from January 26th - February st. 2013

» After 13 consecutive quarters of growth America's economy contracted by 0.1% at an annual rate in the last three months of 2012, according to a first estimate. One of the factors behind the surprising stumble was a 15% fall in federal spending. GDP grew by 2.2% for the whole year, compared with 1.8% in 2011. The poor quarterly figure took the shine off data that showed American home prices rising in November by 5.5%, the fastest pace since August 2006. See article» Happy slashers » Britain's economy also shrank from October to December, by 0.3%. Britain has recorded negative growth in four of the past five quarters. The government said it would plough on with its austerity plan, though some, notably at the IMF, have urged it to ease the pace of cuts. » The Reserve Bank of India reduced its main interest rate for the first time in nine months, to 7.75%. The move was expected after inflation fell to a three-year low. » Stanley Fischer said he w

The Economist | Highlights of News Coverage from January 26th - February 1st 2013

» Clashes between opponents of Egypt's Islamist government and the security forces left at least 50 people dead in the cities of Cairo, Suez, Port Said and Ismailiyah. President Muhammad Morsi invited the opposition to engage in a "national dialogue". The opposition called for a government of national unity. Some of the country's generals warned that the state could collapse unless the violence stopped. See article» » French troops in Mali captured Gao, Kidal and Timbuktu, the three main towns in the north. The jihadists who had occupied them for the past ten months scattered without a fight, but they may revert to guerrilla warfare from their Saharan redoubts. See article» » Lakhdar Brahimi, the envoy of the UN and Arab League to Syria , told the UN Security Council that the country is being destroyed "bit by bit". The UN's refugee agency reckons that more than 700,000 Syrians have fled abroad and 2m more have been displaced wi

BIV Today's Business News (January 31, 2013).:Energy companies join forces to plan new LNG facility in B.C.

Mining and Energy Energy companies join forces to plan new LNG facility in B.C. AltaGas Ltd. (TSX:ALA) and Japanese energy company Idemitsu Kosan Co. Ltd. have formed a 50-50 joint venture with plans that include ... READ MORE Economy and Finance   Ontario's debt risks Greek-style meltdown: Fraser Institute Ontario’s debt load is higher than California’s and, if unchecked, could head towards a ...  READ MORE Technology   Richmond battery maker creates joint venture in Africa Richmond’s Corvus Energy has entered a joint venture with an African manufacturer to create a new ...  READ MORE More News...     B.C. small business confidence falls in January: CFIB Canadian rivals beat Vancouver in “Intelligent Communities” ranking Sepp's Gourmet Foods founders acquire energy bar company     Trevor Lautens   Travelling stat