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<<< $KCG Links! >>> ~ MAC's Quick DD Links without the charts.
PennyStockTweets ~ http://www.pennystocktweets.com/stocks/profile/KCG
OTC Markets Company Info ~ http://www.otcmarkets.com/stock/KCG/company-info
OTC Markets Charts ~ http://www.otcmarkets.com/stock/KCG/chart
OTC Markets Quote ~ http://www.otcmarkets.com/stock/KCG/quote
OTC Markets News ~ http://www.otcmarkets.com/stock/KCG/news
OTC Markets Financials ~ http://www.otcmarkets.com/stock/KCG/financials
OTC Markets Short Sales ~ http://www.otcmarkets.com/stock/KCG/short-sales
OTC Markets Insider Disclosure ~ http://www.otcmarkets.com/stock/KCG/insider-transactions
OTC Markets Research Reports ~ http://www.otcmarkets.com/stock/KCG/research
Google Finance Summary ~ http://www.google.com/finance?q=KCG
Google Finance News ~ http://www.google.com/finance/company_news?q=KCG
Google Finance Option chain ~ http://www.google.com/finance/option_chain?q=KCG
Google Finance Financials ~ http://www.google.com/finance?q=KCG&fstype=ii#
Google Finance Historical prices Daily ~ http://www.google.com/finance/historical?q=KCG
Google Finance Historical prices Weekly ~ http://www.google.com/finance/historical?q=KCG&histperiod=weekly#
Y! < Company >
Y! Profile ~ http://finance.yahoo.com/q/pr?s=KCG+Profile
Y! Key Stat's ~ http://finance.yahoo.com/q/ks?s=KCG+Key+Statistics
Y! Headlines ~ http://finance.yahoo.com/q/h?s=KCG+Headlines
Y! Summary ~ http://finance.yahoo.com/q?s=KCG
Y! Historical Prices ~ http://finance.yahoo.com/q/hp?s=KCG+Historical+Prices
Y! Order Book ~ http://finance.yahoo.com/q/ecn?s=KCG+Order+Book
Y! Message Boards ~ http://messages.finance.yahoo.com/mb/KCG
Y! Market Pulse ~ http://finance.yahoo.com/marketpulse/KCG
Y! Technical Analysis ~ http://finance.yahoo.com/q/ta?s=KCG+Basic+Tech.+Analysis
Y! < Analyst Coverage >
Y! Analyst Opinion ~ http://finance.yahoo.com/q/ao?s=KCG+Analyst+Opinion
Y! Analyst Estimates ~ http://finance.yahoo.com/q/ae?s=KCG+Analyst+Estimates
Y! Research Reports ~ http://finance.yahoo.com/q/rr?s=KCG+Research+Reports
Y! Star Analysts ~ http://finance.yahoo.com/q/sa?s=KCG+Star+Analysts
Y! < Ownership >
Y! Major Holders ~ http://finance.yahoo.com/q/mh?s=KCG+Major+Holders
Y! Insider Transactions ~ http://finance.yahoo.com/q/it?s=KCG+Insider+Transactions
Y! Insider Roster ~ http://finance.yahoo.com/q/ir?s=KCG+Insider+Roster
Y! < Financials >
Y! Income Statement ~ http://finance.yahoo.com/q/is?s=KCG+Income+Statement&annual
Y! Balance Sheet ~ http://finance.yahoo.com/q/bs?s=KCG+Balance+Sheet&annual
Y! Cash Flow ~ http://finance.yahoo.com/q/cf?s=KCG+Cash+Flow&annual
FINVIZ ~ http://finviz.com/quote.ashx?t=KCG&ty=c&ta=0&p=d
Investorshub Trades ~ http://ih.advfn.com/p.php?pid=trades&symbol=KCG
Investorshub Board Search ~ http://investorshub.advfn.com/boards/getboards.aspx?searchstr=KCG
Investorshub PostStream ~ http://investorshub.advfn.com/boards/poststream.aspx?ticker=KCG
Investorshub Messages ~ http://investorshub.advfn.com/boards/msgsearch.aspx?SearchStr=KCG
Investorshub Videos ~ http://ih.advfn.com/p.php?pid=ihvse&ihvqu=KCG
Investorshub News ~ http://ih.advfn.com/p.php?pid=news&btn=s_ok&ctl00%24sb3%24tbq1=Get+Quote&as_values_IH=&ctl00%24sb3%24stb1=Search+iHub&symbol=KCG&s_ok=OK&from_month=3&from_day=15&from_year=2012&order=desc&selsrc%5B%5D=prnca&selsrc%5B%5D=prnus&selsrc%5B%5D=zacks&selsrc%5B%5D=money2&selsrc%5B%5D=djn&selsrc%5B%5D=bw&selsrc%5B%5D=globe&selsrc%5B%5D=edgar&selsrc%5B%5D=mwus&force=1&last_ts=1331855999&p_n=1&p_count=&p_ts=1331794260
CandlestickChart ~ http://www.candlestickchart.com/cgi/chart.cgi?symbol=KCG&exchange=US
Barchart Quote ~ http://barchart.com/quotes/stocks/KCG?
Barchart Detailed Quote ~ http://barchart.com/detailedquote/stocks/KCG
Barchart Options Quotes ~ http://barchart.com/options/stocks/KCG
Barchart Technical Chart ~ http://barchart.com/charts/stocks/KCG&style=technical
Barchart Interactive Chart ~ http://barchart.com/charts/stocks/KCG&style=interactive
Barchart Technical Analysis ~ http://barchart.com/technicals/stocks/KCG
Barchart Trader's Cheat Sheet ~ http://barchart.com/cheatsheet.php?sym=KCG
Barchart Barchart Opinion ~ http://barchart.com/opinions/stocks/KCG
Barchart Snapshot Opinion ~ http://barchart.com/snapopinion/stocks/KCG
Barchart News Headlines ~ http://barchart.com/news/stocks/KCG
Barchart Profile ~ http://barchart.com/profile//KCG
Barchart Key Statistics ~ http://barchart.com/profile.php?sym=KCG&view=key_statistics
OTC: American Bulls ~ http://www.americanbulls.com/StockPage.asp?CompanyTicker=KCG&MarketTicker=OTC&TYP=S
NASDAQ: American Bulls ~ http://www.americanbulls.com/StockPage.asp?CompanyTicker=KCG&MarketTicker=NASD&TYP=S
NYSE: American Bulls ~ http://www.americanbulls.com/StockPage.asp?CompanyTicker=KCG&MarketTicker=NYSE&Typ=S
Marketwatch Profile ~ http://www.marketwatch.com/investing/stock/KCG/profile
Marketwatch Analyst Estimates ~ http://www.marketwatch.com/investing/stock/KCG/analystestimates
Marketwatch Historical Quotes ~ http://www.marketwatch.com/investing/stock/KCG/historical
Marketwatch Financials ~ http://www.marketwatch.com/investing/stock/KCG/financials
Marketwatch Overview ~ http://www.marketwatch.com/investing/stock/KCG
Marketwatch SEC Filings ~ http://www.marketwatch.com/investing/stock/KCG/secfilings
Marketwatch Picks ~ http://www.marketwatch.com/investing/stock/KCG/picks
Marketwatch Hulbert ~ http://www.marketwatch.com/investing/stock/KCG/hulbert
Marketwatch Insider Actions ~ http://www.marketwatch.com/investing/stock/KCG/insideractions
Marketwatch Options ~ http://www.marketwatch.com/investing/stock/KCG/options
Marketwatch Charts ~ http://www.marketwatch.com/investing/stock/KCG/charts
Marketwatch News ~ http://bigcharts.marketwatch.com/news/symbolsearch/symbolnews.asp?news=markadv&symb=KCG&sid=1795093&framed=False
The Lion ~ http://thelion.com/bin/aio_msg.cgi?cmd=search&msg=&si=1&tw=1&tt=1&rb=1&ih=1&fo=1&iv=1&yf=1&sa=1&fb=1&gg=1&symbol=KCG
Search NYSE ~ http://www.nyse.com/about/listed/lcddata.html?ticker=KCG
StockTA ~ http://www.stockta.com/cgi-bin/analysis.pl?symb=KCG&num1=567&cobrand=&mode=stock
StockHouse ~ http://www.stockhouse.com/financialtools/sn_overview.aspx?qm_symbol=KCG
StockHouse Delayed LII ~ http://www.stockhouse.com/financialtools/sn_level2.aspx?qm_page=46140&qm_symbol=KCG
AlphaTrade ~ http://tools.alphatrade.com/index.php?t1=mc_quote_module&t2=mc_quote_module2&t3=historical&template=historical2html&sym=KCG&client_id=2740&a_width=680&a_height=1000&language=english&showVol=1&chtype=8
Reuters ~ http://www.reuters.com/finance/stocks/companyOfficers?symbol=KCG.PK&WTmodLOC=C4-Officers-5
StockWatch ~ http://www.stockwatch.com/Quote/Detail.aspx?symbol=KCG®ion=U
Search NASDAQ ~ http://www.nasdaq.com/symbol/KCG
NASDAQ Divy History ~ http://www.nasdaq.com/symbol/KCG/dividend-history
NASDAQ Short Interest ~ http://www.nasdaq.com/symbol/KCG/short-interest
NASDAQ Institutional Ownership ~ http://www.nasdaq.com/symbol/KCG/institutional-holdings
NASDAQ FlashQuotes ~ http://www.nasdaq.com/aspx/flashquotes.aspx?symbol=KCG&selected=KCG
NASDAQ InfoQuotes ~ http://www.nasdaq.com/aspx/infoquotes.aspx?symbol=KCG&selected=KCG
NASDAQ After Hours Quote ~ http://www.nasdaq.com/symbol/KCG/after-hours
NASDAQ Pre-Market Quote ~ http://www.nasdaq.com/symbol/KCG/premarket
NASDAQ Historical Quote ~ http://www.nasdaq.com/symbol/KCG/historical
NASDAQ Option Chain ~ http://www.nasdaq.com/symbol/KCG/option-chain
NASDAQ Company Headlines ~ http://www.nasdaq.com/symbol/KCG/news-headlines
NASDAQ Press Releases ~ http://www.nasdaq.com/symbol/KCG/news-headlines
NASDAQ Sentiment ~ http://www.nasdaq.com/symbol/KCG/sentiment
NASDAQ Analyst Summary ~ http://www.nasdaq.com/symbol/KCG/analyst-research
NASDAQ Guru Analysis~ http://www.nasdaq.com/symbol/KCG/guru-analysis
NASDAQ Stock Report ~ http://www.nasdaq.com/symbol/KCG/stock-report
NASDAQ Competitors ~ http://www.nasdaq.com/symbol/KCG/competitors
NASDAQ Stock Consultant ~ http://www.nasdaq.com/symbol/KCG/stock-consultant
NASDAQ Stock Comparison ~ http://www.nasdaq.com/symbol/KCG/stock-comparison
NASDAQ Call Transcripts ~ http://www.nasdaq.com/symbol/KCG/call-transcripts
NASDAQ Annual Reports ~ http://www.nasdaq.com/aspx/annualreport.aspx?symbol=KCG&selected=KCG
NASDAQ Financials ~ http://www.nasdaq.com/symbol/KCG/financials
NASDAQ Revenue & Earnings Per Share (EPS) ~ http://www.nasdaq.com/symbol/KCG/revenue-eps
NASDAQ SEC Filings ~ http://www.nasdaq.com/symbol/KCG/sec-filings
NASDAQ Ownership Summary ~ http://www.nasdaq.com/symbol/KCG/ownership-summary
NASDAQ Institutional Ownership ~ http://www.nasdaq.com/symbol/KCG/institutional-holdings
NASDAQ (SEC Form 4) ~
--------- All Trades ~ http://www.nasdaq.com/symbol/KCG/insider-trades
--------- Buys ~ http://www.nasdaq.com/symbol/KCG/insider-trades/buys
--------- Sells ~ http://www.nasdaq.com/symbol/KCG/insider-trades/sells
The Motley Fool ~ http://caps.fool.com/Ticker/KCG.aspx
The Motley Fool Earnings/Growth ~ http://caps.fool.com/Ticker/KCG/EarningsGrowthRates.aspx?source=itxsittst0000001
The Motley Fool Ratios ~ http://caps.fool.com/Ticker/KCG/Ratios.aspx?source=itxsittst0000001
The Motley Fool Stats ~ http://caps.fool.com/Ticker/KCG/Stats.aspx?source=icasittab0000006
The Motley Fool Historical ~ http://caps.fool.com/Ticker/KCG/Historical.aspx?source=icasittab0000004
The Motley Fool Scorecard ~ http://caps.fool.com/Ticker/KCG/Scorecard.aspx?source=icasittab0000003
The Motley Fool Statements ~ http://caps.fool.com/Ticker/KCG/Statements.aspx?source=icasittab0000009
MSN Money ~ http://investing.money.msn.com/investments/stock-ratings?symbol=KCG
YCharts ~ http://ycharts.com/companies/KCG
YCharts Performance ~ http://ycharts.com/companies/KCG/performance
YCharts Dashboard ~ http://ycharts.com/companies/KCG/dashboard
InsideStocks Opinion ~ http://www.insidestocks.com/texpert.asp?sym=KCG&code=XDAILY
InsideStocks Profile ~ http://www.insidestocks.com/profile.asp?sym=KCG&code=XDAILY
InsideStocks Quote ~ http://www.insidestocks.com/quote.asp?sym=KCG&code=XDAILY
InsideStocks Projection ~ http://charts3.barchart.com/procal.asp?sym=KCG
Zacks Quote ~ http://www.zacks.com/stock/quote/KCG
Zacks Estimates ~ http://www.zacks.com/research/report.php?type=estimates&t=KCG
Zacks Company Reports ~ http://www.zacks.com/research/report.php?type=report&t=KCG
Knobias ~ http://knobias.10kwizard.com/files.php?sym=KCG
StockScores ~ http://www.stockscores.com/quickreport.asp?ticker=KCG
Trade-Ideas ~ http://www.trade-ideas.com/StockInfo/KCG/HOT_TOPIC.html
Morningstar ~ http://performance.morningstar.com/stock/performance-return.action?region=USA&t=KCG&culture=en-US
Morningstar Shareholders ~ http://investors.morningstar.com/ownership/shareholders-overview.html?t=KCG®ion=USA&culture=en-us
Morningstar Transcripts~ http://www.morningstar.com/earnings/NoTranscript.aspx?t=KCG®ion=USA
Morningstar Key Ratios ~ http://financials.morningstar.com/ratios/r.html?t=KCG®ion=USA&culture=en-US
Morningstar Executive Compensation ~ http://insiders.morningstar.com/trading/executive-compensation.action?t=KCG®ion=USA&culture=en-us
Morningstar Valuation ~ http://financials.morningstar.com/valuation/price-ratio.html?t=KCG®ion=USA&culture=en-us
CCBN (Thompson Reuters) ~ http://ccbn.aol.com/company.asp?client=aol&ticker=KCG
TradingMarkets ~ http://pr.tradingmarkets.com/?lid=leftPRbox&sym=KCG
OTCBB ~ http://www.otcbb.com/asp/SiteSearch.asp?Criteria=KCG&searcharea=e&image1.x=0&image1.y=0
Insidercow ~ http://www.insidercow.com/history/company.jsp?company=KCG&B1=Search%21
Forbes News ~ http://search.forbes.com/search/find?tab=searchtabgeneraldark&MT=KCG
Forbes Press Releases ~ http://search.forbes.com/search/find?&start=1&tab=searchtabgeneraldark&MT=KCG&pub=businesswire,prnewswire&searchResults=pressRelease&tag=pr&premium=on
Forbes Web ~ http://search.forbes.com/search/web?MT=UNGS&start=1&max=10&searchResults=web&tag=web&sort=null
YouTube Symbol Search ~ http://www.youtube.com/results?search_query=KCG
Buy-Ins ~ http://www.buyins.net/tools/symbol_stats.php?sym=KCG
Quotemedia ~ http://www.quotemedia.com/results.php?qm_page=47556&qm_symbol=KCG
Earnings Whispers ~ http://www.earningswhispers.com/stocks.asp?symbol=KCG
Bloomberg Snapshot ~ http://investing.businessweek.com/research/stocks/snapshot/snapshot.asp?ticker=KCG
Bloomberg People ~ http://investing.businessweek.com/research/stocks/people/people.asp?ticker=KCG
Financial Times ~ http://markets.ft.com/Research/Markets/Tearsheets/Summary?s=KCG
Investorpoint ~ http://www.investorpoint.com/ enter "KCG" and click search.
Hotstocked ~ http://www.hotstocked.com/ enter "KCG" and click search.
Raging Bull ~ http://ragingbull.quote.com/mboard/boards.cgi?board=KCG
Hoovers ~ http://www.hoovers.com/search/company-search-results/100003765-1.html?type=company&term=KCG
DD Machine ~ http://www.ddmachine.com/default.asp?m=stocktool_frame.asp?symbol=KCG
SEC Form 4 ~ http://www.secform4.com/insider/showhistory.php?cik=KCG
OTCBB Pulse ~ http://www.otcbbpulse.com/cgi-bin/pulsequote.cgi?symbol=KCG
Failures To Deliver ~ http://failurestodeliver.com/default2.aspx enter "KCG" and click search.
http://www.coordinatedlegal.com/SecretaryOfState.html
http://regsho.finra.org/regsho-Index.html
http://www.shortsqueeze.com/?symbol=KCG&submit=Short+Quote%99
DTCC (PENSON/TDA) Check - (otc and pinks) - Note ~ I did not check for this chart blast. However, I try and help you to do so with the following links.
IHUB DTCC BOARD SEARCH #1 http://investorshub.advfn.com/boards/msgsearchbyboard.aspx?boardID=18682&srchyr=2011&SearchStr=KCG
IHUB DTCC BOARD SEARCH #2: http://investorshub.advfn.com/boards/msgsearchbyboard.aspx?boardID=14482&srchyr=2011&SearchStr=KCG
Check those searches for recent KCG mentions. If KCG is showing up on older posts and not on new posts found in link below, The DTCC issues may have been addressed and fixed. Always call the broker if your security turns up on any DTCC/PENSON list.
http://investorshub.advfn.com/boards/msgsearchbyboard.aspx?boardID=18682&srchyr=2011&SearchStr=Complete+list
For a complete list see the pinned threads at the top here ---> http://tinyurl.com/TWO-OLD-FARTS
MACDlinks
~ Wednesday! $KCG ~ Q1 Earnings posted, pending or coming soon! In Charts and Links Below!
~ $KCG ~ Earnings expected on Wednesday *
Want more like this? Search Keyword: MACMONEY >>> http://tinyurl.com/MACMONEY <<<
One or more of many earnings sites has alerted this security has or will be posting earnings on or around the day of this message.
http://stockcharts.com/h-sc/ui?s=KCG&p=D&b=3&g=0&id=p88783918276&a=237480049
http://stockcharts.com/h-sc/ui?s=KCG&p=W&b=3&g=0&id=p54550695994
~ Google Finance: http://www.google.com/finance?q=KCG
~ Google Fin Options: hhttp://www.google.com/finance/option_chain?q=KCG#
~ Yahoo! Finance ~ Stats: http://finance.yahoo.com/q/ks?s=KCG+Key+Statistics
~ Yahoo! Finance ~ Profile: http://finance.yahoo.com/q/pr?s=KCG
Finviz: http://finviz.com/quote.ashx?t=KCG
~ BusyStock: http://busystock.com/i.php?s=KCG&v=2
<<<<<< http://www.earningswhispers.com/stocks.asp?symbol=KCG >>>>>>
http://investorshub.advfn.com/boards/post_prvt.aspx?user=251916
*If the earnings date is in error please ignore error. I do my best.
You may not have to look very far!
Rich
Thursday, April 12, 2012 11:00:36 PM
Re: Bull Finch post# 9461
Post # of 9463
Do you have any clue how many trades we make in one day?
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=74345132
Bull Finch
Thursday, April 12, 2012 11:03:59 PM
Re: Rich post# 9462
Post # of 9463
Are those Legal or Illegal trades?
"Do you have any clue how many trades we make in one day?"~Rich
5T WD haha
BMFL<OD
next week(s) is here
Who's Next!
I wonder how dreampt up that slogan? lol
I have to warn you first
if you have recently eaten anything do not open this link!
Your lunch will come up, I am not responsible for any damages to your computer, keyboard, monitor, or any other electrical, or electronic devices!
http://investorshub.advfn.com/uimage/uploads/2012/3/6/xwtsmCapture.JPG
5T WD haha
BMFL<OD
next week(s) is here
Who's Next!
now it looks like they are trying to get into the mortgage business, probably as a hedge against the inevitable...
christ i hope so
===
4kids
all jmo
this co. has been dead money for 2 years+
since oct 2009 when rumors hit the street
i want to know why the sec continues to shield them
===
4kids
all jmo
KCG - Will NITE be subpoenaed?
Are they currently under investigation for loading retail brokers such as ETrade, Scottrade, and TDAmeritrade with billions of phony shares/IOU's/book entries/electronic markers?
Is the NY office of the SEC building a case against them?
Does this coincide with what is going on over at BCIT and a number of other OTC stocks?
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=48944663
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=55729484
This company will start to tank soon.
I think another 4,948 to go, LOL
5T WD haha
BMFL<OD
next week(s) is here
Who's Next
That makes for quite a list. Coincidence? Probably not imho.
Lots of dots to be connected for sure.
Lots going on to be sure. Hopefully the criminals in our markets who have been operating with impunity are in fact arrested and tried regardless of who they are and what company they may work for. A major cleanup of our markets is badly needed.
KCG - Looks like NITE is about to pay the piper.
Tic Toc
LORD JAMES OF BLACKHEATH,
"15 TRILLION DOLLARS & 759,000 METRIC TONS OF GOLD"
Posted By: hobie [Send E-Mail]
Date: Thursday, 16-Feb-2012 20:29:50
Hi, Folks -
Thanks to Reader R. for the pointers and footwork on this. :)
Available as video:
Blackheath's comments start at approx. 17:20:00.
http://www.parliamentlive.tv/Main/Player.aspx?meetingId=10093&wfs=true&player=windowsmedia
Unofficial transcript found here:
http://www.rayservers.com/blog/lord-james-of-blackheath---15-trillion-dollars-and-750-thousand-metric-tonnes-of-gold
*******************************************************************************
Lord James of Blackheath - 15 Trillion dollars and 750 thousand metric tonnes of gold
16.02.2012 17:37 in Lord%20James%20of%20Blackheath
Breaking news Lord James of Blackheath has spoken in the House of Lords holding evidence of three transactions of 5 Trillion each and a transaction of 750,000 metric tonnes of gold and has called for an investigation.
Bookmark: http://www.rayservers.com/blog/Lord James of Blackheath for updates
Update 21:22 GMT:
Unofficial Transcript of the speech by Lord James of Blackheath, in the Lords Chamber of the House of Lords, London, on 16 February 2012
I'm going to start with my conclusions, but I'm not going to sit down when I've made them. Because I'm then going to give you the evidence to support them and hopefully present to you the reasons why I want support for an official inquiry into the mischief I want to unfold to you this afternoon.
My lords, I have been engaged in pursuit of this issue for nearly 2 years now, and I'm no further through to getting to the truth.
I think there are three possible conclusions that may come from it. I think there may have been a massive piece of money laundering committed by a major government which ought to know better and that it has effectively undermined the integrity of the British bank the Royal Bank of Scotland, in doing so. The second alternative is that a major American department has an agency that has gone rogue on it because it has been wound up and has created a structure out of which they are seeking to get at least 50 billion Euros as a payoff. And the third possibility is that this is an extraordinarily elaborate fraud which has not been carried out but which has been prepared in order to provide a threat to one government or more if they don't pay them off. So there are three possibilities and this all needs a very urgent review.
My Lords, it starts in April and May of 2009, with the alleged transfer to the United Kingdom, to HSBC of a sum of 50 trillion dollars and seven days later, in comes another 50 trillion dollars to HSBC, and then 3 weeks later another 50 trillion. 5 trillion in each case. Sorry. A total of 15 trillion dollars is alleged to have been passed into the hands of HSBC for onward transit to the Royal Bank of Scotland and we need to look at where this came from and what the history of this money is. And I have been trying to sort out the sequence by which this money has been created and from where it has come from for a long time.
It starts off apparently as the property of a man called Yohannes Riyadi. Which has some claims to be the richest man in the world. Well he would be if all the money that was owed to him was paid, but I have seen accounts of his showing he owns 36 trillion dollars in a bank. And it is a ridiculous sum of money. On the other hand the 36 trillion dollars would be consistent with the dynasty from which he comes and the fact that they had been effectively the emperors of Indo-China in times gone by. But a lot of that money has been taken away from him with his consent by the American treasury over the years for the specific purpose of helping to support the dollar.
He has sent to me a really quite remarkable document which is dated in February 2006 in which the American government, according to a meeting with the Federal Reserve Bank of New York, which is neither a Federal Reserve, nor a Bank. It's a bit like celebrity big brother. It's got three names to describe it and none of them are true. And this document, which is quite astonishing, purports to have been a meeting. It is witnessed by Mr. Alan Greenspan, who signed for the Federal Reserve Bank of New York, of which he was chairman, as well as the real Federal Reserve Bank in Washington. And it is signed by Mr. Timothy Geithner, as a witness on behalf of the International Monetary Fund who sent two witnesses, the other one being Mr. Yusuke Horiguchi and these gentlemen have signed as witnesses to the effect that this deal is a proper deal. There are a lot of other signatures on here as well. This is not a photocopy. This is an original version of the contract. Under which the American treasury has apparently got the Federal Reserve Bank of New York to offer to buy out the bonds which have been issued to Mr. Riyadi to replace the cash which has been taken from him over the previous ten years and they're giving him 500 million dollars, as a cash payment to buyout worthless bonds.
Now this is all in the agreement and it's very remarkable. I would have thought that establishing whether this is a correct piece of paper or not is just 2 phone calls away. One to Mr. Geithner and one to Mr. Greenspan. Both of whom still prosper and live, so they could easily confirm whether they signed this.
Mr. Riyadi has, by passing these bonds over, also put at the disposal of the U.S. Treasury the entire asset backing which he was alleged to have for the 15 trillion. I now have a letter here -- from the Bank of Indonesia, which says that the whole thing was a pack of lies. That he did not have the 750,000 tonnes of gold which was supposed to be backing it. He only had 700 tonnes. And this is really a piece of complete fabrication.
Finally, I have a letter here from Mr. Riyadi himself, who tells me he was put up to do this and that none of it was true and that he has been robbed of all his money and I'm quite prepared to recognize that one of the possibilities here is that Mr. Riyadi is himself putting this together as a forgery in order to try and win some recovery back.
But it gets more complicated than that. Because each of the 5 trillion payments that came in has been acknowledged and receipted by the executives at HSBC and again receipted by the executives at the Royal Bank of Scotland. And I have a set of the whole of those receipts for all of this money. Why would any bank want to sign 5 trillion dollars worth, 15 trillion total, of receipts if the money didn't exist.
The money was said to have come, first of all from the Riyadi account, to the Federal Reserve Bank of New York, and from the Federal Reserve Bank of New York it was passed through JPMorgan Chase in New York for onward transit to London. The means of sending it was a SWIFT note, which ought to have been registered with the Bank of England if it was genuine. So when this happened and came about, I first of all took it to my noble friend Lord Strathclyde (sp?), and said, "what do we do with this"?
He said, give it to Lord Sassoon, he's with treasury. So we did and Lord Sassoon looked at it and said immediately, "This is rubbish -- it's far too much money, it would stick out like a sore thumb and you can't see it in the Royal Bank of Scotland accounts". Quite right. Secondly he said, "The gold backing is ridiculous, there has only ever been 1,507 tonnes of gold mined in the history of the world, so you can't have 750,000 tonnes" [Editors Note: The 1,507 tonnes is not correct, but the number is still FAR smaller than the 750,000 tonnes -- somewhere around 150,000 metric tonnes]. This is true and the third thing he said obviously was, "it's a scam", and I agree with him. It was a scam. The problem is we stopped looking at that point. We should have asked, what is the scam? Instead of, at that time, just nodding it off. And we have never really resolved this, because today, I have this piece of paper.
Which is my justification for bringing it into this meeting today, which is available on the internet and I'm astonished that it hasn't already been unearthed by the treasury and every alarm bell in the land should be ringing if it has. Because this is the general audit office of the Federal Reserve...the real Federal Reserve in Washington. And its audit review in the end of July of 2010 on the Federal Reserve Bank of New York. It has on it, some 20 banks listed, to which 16.115 trillion dollars are outstanding in loans. My Lords, that is the sore thumb that was being looked for by Lord Sassoon.
But more particularly there are two other very interesting things in this. The first is that Barclays Bank got 868 billion in loans, the Royal Bank of Scotland has got 541 billion, in which case, one has to ask, is that they could have earned in three weeks, enough to pay off their entire indebtedness to the taxpayers of Britain, why they have not done so and can we please ask them to put a check in the post for the whole 46 billion.
And the third thing that is wrong with it is that every bank on this list, without exception, is an MTN-registered bank. Which means they are registered to use the medium term notes to move funds between themselves with an agreed profit share formula. In which case these banks are investing this money and most extraordinary, not a penny of interest does the Federal Reserve Bank want paid on this vast amount of 16 trillion.
Anyone amongst yourselves who knows what the IMF rules for financials are will immediately smell a rat. Because the IMF has very strict rules for validating dodgy money. There are two ways of doing it. You either pass it through a major central bank, like the Bank of England, who have apparently refused to touch this. Or alternatively, you put it through to a bank which is an MTN trading bank. Which is then able to use the funds on the overnight European MTN trading market where they can earn between 1 and 2.5% profit per night. And the compound interest on that is huge. So there is a vast profit being made with this money somewhere if it is in fact genuine.
So my Lords, I believe that this is such an important issue now that I've put everything I've got on this subject into a 104 megabyte memory thumb. And I want the government to put this to some suitable investigative bureau and take everything I've got on the subject and find out what the truth is about what is going on here because there is something very seriously wrong. Either we have a huge amount of tax uncollected on profits made, or we've got a vast amount of money festering away in the European banking system which is not real money, in which case we need to take it back. My Lords, I ask for an investigation and please support my plea.
******************************************************************************
http://www.rumormillnews.com/cgi-bin/forum.cgi?read=230593
http://www.youtube.com/watch?v=eL5hqvTWkYg&feature=player_embedded
5T WD haha
BMFL<OD
next week(s) is here
"BANK RESIGNATIONS FAR GREATER THAN WE KNEW"
Posted By: hobie [Send E-Mail]
Date: Monday, 20-Feb-2012 19:34:16
(Thanks, W. :)
Reader W. researches and writes:
******************************************************************
I saw the list of bank resignations and wondered if there might be quite a few more than was listed given the reporting of Fulford and what Poof has been hinting at. I was amazed at what I found when I searched Google for "BANK RESIGNS" "BANK QUITS" and "BANK STEPS DOWN". These seem to be the three headlines that are used and if you search for only one you only get 1/3 the total number.
GOVERNMENT RESIGNATIONS
2/6/12
Romanian prime minister and cabinet resign en masse
http://www.guardian.co.uk/world/2012/feb/06/romania-pm-cabinet-resign
2/20/12 (GERMANY) GERMAN PRESIDENT Christian Ruff resigns (financial corruption charges)
http://www.dailymail.co.uk/news/article-2102524/German-President-Christian-Wulff-forced-resign.html
RESIGNATIONS FROM WORLD BANKS:
(1) 9/25/11 (SWITZERLAND) Bank chief resigns over ?1.5bn rogue trader crisis
http://www.dailymail.co.uk/news/article-2041385/Oswald-Gruebel-resigns-UBS-boss-steps-Kweku-Adoboli-trading-scandal.html
(2) 10/29/11 (CHINA) Resignations Suggest Shift for China's Banks
http://online.wsj.com/article/SB10001424052970203687504577003734190522426.html
(3) 11/01/12 (INDIA) More directors of the Beed district bank resign
http://www.thenews.coop/article/more-directors-beed-district-bank-resign
(4) 11/21/11 (JAPAN) UBS?s Japan Investment Banking Chairman Matsui to Resign
http://www.bloomberg.com/news/2011-11-22/ubs-s-japan-investment-banking-chairman-yasuki-matsui-to-resign.html
(5) 11/29/11 (Iran) Iran's Bank Melli CEO Resigns Over Loan Scam
http://www.dailymotion.com/video/xlcznz_iran-s-bank-melli-ceo-resigns-over-loan-scam_news
(6) 12/15/11 (UNITED KINGDOM) Senior private banker resigns from Coutts [a very exclusive private bank]
http://www.reuters.com/article/2011/12/15/coutts-fleming-idUSL6E7NF23S20111215
(7) 12/22/11 (FRANCE) Societe Generale?s Investment Banking Chief Steps Down
http://dealbook.nytimes.com/2011/12/22/socgens-investment-banking-chief-steps-down/
(8) 1/05/12 (UNITED KINGDOM) Chief executive of Saunderson House [Private Bank] steps down
http://www.ftadviser.com/2012/01/05/ifa-industry/people/saunderson-house-chief-executive-steps-down-M0vEWlpbSqKA3OCLZDCcGM/article.html
(9)1/09/12 (SWITZERLAND) Switzerland's central bank chief resigns
http://www.aljazeera.com/news/europe/2012/01/201219145612935171.html
(10) 1/12/12 (United Kingdom) Lloyds? head of wholesale quits
http://www.bankingtimes.co.uk/2012/02/01/lloyds-head-of-wholesale-quits/
(11) 1/19/12 (SPAIN) Spanish bank Santander's Americas chief quits
http://www.expatica.com/es/news/spanish-news/spanish-bank-santander-s-americas-chief-quits_202395.html
(12) 1/20/12 (JAPAN) Normura's head of wholesale banking quits
http://www.euromoney.com/Article/2959021/Nomuras-head-of-wholesale-banking-quits.html
(13) 1/29/12 (NEW ZEALAND) New Zealand Reserve Bank Governor Alan Bollard to Step Down in September
http://www.bloomberg.com/news/2012-01-29/new-zealand-reserve-bank-governor-alan-bollard-to-step-down-in-september.html
(14) 1/21/12 (Greece) Banks' top negotiator quits Greece, but talks go on
http://www.france24.com/en/20120121-banks-top-negotiator-quits-greece-but-talks-go
(15) 2/06/12 (INDIA) Dhanlaxmi Bank CEO Amitabh Chaturvedi quits:
http://www.livemint.com/2012/02/06160111/Dhanlaxmi-Bank-CEO-Amitabh-Cha.html
(16) 2/07/12 (INDIA) Falguni Nayar quits Kotak Mahindra Bank
http://articles.economictimes.indiatimes.com/2012-02-07/news/31031134_1_kotak-mahindra-bank-falguni-nayar-shanti-ekambaram
(17) 2/07/12 (IRAN) Iran denies central bank resignation rumor (don't believe until its denied?)
http://finance.yahoo.com/news/iran-denies-central-bank-resignation-164154294.html
(18) 2/09/12 (VATICAN) Four Priests Charged In Vatican Banking Scandal
http://articles.businessinsider.com/2012-02-09/europe/31040509_1_anti-money-laundering-law-vatican-finances-italian-tv
(19) 2/10/12 (KOREA) Korea Exchange Bank chief steps down
http://english.yonhapnews.co.kr/business/2012/02/10/0503000000AEN20120210005100320.HTML
(20) 2/10/12 (INDIA) Tamilnad Mercantile Bank CEO resigns
http://www.business-standard.com/india/news/tamilnad-mercantile-bank-md-resigns/464259/
(21) 2/13/12 (KUWAIT) Kuwait Central Bank CEO resigns
http://www.washingtonpost.com/business/industries/kuwait-central-bank-chief-resigns-amid-political-tensions/2012/02/13/gIQAcxrOAR_story.html
(22) 2/14/12 (NICARAQUA) Nicaraqua Central Bank Pres Rosales resigns
http://www.bloomberg.com/news/2012-02-14/nicaragua-central-bank-head-quits-amid-row.html
(23) 2/14/12 (UNITED KINGDOM) Social finance pioneer Hayday steps down from Charity Bank
http://www.socialenterpriselive.com/section/news/people/20120214/social-finance-pioneer-hayday-steps-down-charity-bank
(24) 2/15/12 World Bank CEO Zoellick resigns
http://business.time.com/2012/02/15/world-bank-president-zoellick-resigns/
Did the White House tell the World Bank president that he's out?
http://bosco.foreignpolicy.com/posts/2012/02/15/did_the_white_house_tell_the_world_bank_president_that_hes_out
(25) 2/15/12 (SLOVENIA) Slovenia TWO largest Banks CEO's (2) resign
http://www.bloomberg.com/news/2012-02-15/slovenia-s-nova-kreditna-banka-maribor-ceo-plos-resigns.html
(26) 2/15/12 (KENYA) Governor of Kenyan Central Bank to Resign
http://www.centralbanking.com/central-banking/news/2152753/parliamentary-committee-calls-kenyan-governor-resign
(27) 2/16/12 (GHANA) Ken Ofori-Atta steps down as Executive Chair of Databank Group
http://business.thinkghana.com/pages/finance/201202/57429.php
(28) 2/16/12 (SAUDI ARABIA) Saudi Hollandi Banks Managing Director Quits
http://webcache.googleusercontent.com/search?q=cache:ZVfFZypqVIcJ:www.a1saudiarabia.com/4489-saudi-hollandi-banks-md-quits/+&cd=4&hl=en&ct=clnk&gl=us
(29) 2/16/12 (AUSTRALIA) Anz Bank CFO Australia resigns
http://www.proformative.com/news/1470243/cfo-anz-bank-resigns-amid-turmoill
(30) 2/16/12 (UNITED KINGDOM) Royal Bank of Scotland Bankers Arrested
http://www.telegraph.co.uk/finance/financial-crime/9086930/Senior-bankers-caught-up-in-film-investment-tax-probe.html
(31) 2/16/12 (AUSTRALIA) Royal Bank of Scotland Austrailan CEO Stephen Williams resigns
http://www.theaustralian.com.au/business/wall-street-journal/andrew-chick-to-lead-royal-bank-of-scotlands-australian-arm/story-fnay3vxj-1226272513981
(31) 2/17/12 (USA) Blankfein out as Goldman Sachs CEO by summer
http://finance.fortune.cnn.com/2012/02/17/gary-cohn-goldman-sachs/
(32) 2/17/12 (SWITZERLAND) SNB Council President To Leave Central Bank
http://online.wsj.com/article/BT-CO-20120217-710604.html
(33) 2/18/12 (PAKISTAN) AJK Bank?s executive steps down
http://www.nation.com.pk/pakistan-news-newspaper-daily-english-online/national/18-Feb-2012/ajk-bank-s-executive-steps-down?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+pakistan-news-newspaper-daily-english-online%2F24hours-news+%28The+Nation+%3A+Latest+News%29
(34) 2/20/12 (RUSSIA) Head of Russian Bank Regulator Steps Down
http://newsley.com/articles/head-of-russian-bank-regulator-steps-down/206711
(35) 2/20/12 (SWITZERLAND) Credit Suisse Chief Joseph Tan resigns
http://www.businessweek.com/news/2012-02-20/credit-suisse-s-private-bank-chief-asian-economist-tan-resigns.html
(36) 2/20/12 (USA) R. David Land Submits Resignation from the Boards of Directors of Peoples Bancorporation, Inc. and Seneca National Bank
http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=25695731
HEDGE FUND INVESTORS IN TROUBLE:
2/15/12 (UNITED KINGDOM) Hedge fund boss whose explosive emails finally caught up with him
http://www.telegraph.co.uk/finance/financial-crime/9085471/Hedge-fund-boss-whose-explosive-emails-finally-caught-up-with-him.html
Here's yet another bank resignation:
http://www.wealthbriefing.com/html/article.php?title=Head_Of_UK_Private_Bank_Steps_Down&id=43933
I'll send another updated list in a few days. I don't think we've seen anything yet, and the American and Japanese banks are yet to come.
******************************************************************
http://www.rumormillnews.com/cgi-bin/forum.cgi?read=231050
http://www.rumormillnews.com/cgi-bin/forum.cgi?read=231042
5T WD haha
BMFL<OD
next week(s) is here
Could this be a connection!
Taken from another board!
I don't think there is any connection to the RV, but who knows in these crazy times. The interesting thing for the IQD people is the resignation of the Kuwait Central Bank CEO.
http://www.blacklist.../38/38/Y/M.html
World Bank CEO Zoellick resigns
Anz Bank CFO Australia resigns
Credit Suisse Chief Joseph Tan resigns
Kuwait Central Bank CEO resigns
Slovenia TWO largest Banks CEO's (2) resign
Bank of India CEO Chaturvedi resigns
"When you logically think about it. If they were invested in the IQD and it rv'ed, would that look bad if they resigned after it rv'ed? If I had knowledge about the pending RV, I would also resign before it rv'ed. It draws less attention to yourself. I think guys at this level have some knowledge of whats going on. When you look at the reasons they give for resigning...they give none. NO REASON?? seems a bit odd. Those guys have held those positions for a long time and then just get up and walk away for no reason. Doesnt make much sense to me. Anyone else think thats a bit odd?"~qj3
This post has been edited by qj3: Yesterday, 11:39 AM
Read more: http://dinarvets.com/forums/index.php?/topic/106217-10-high-profile-resignations-at-banks-across-the-world-in-the-past-2-weeks/#ixzz1n2TvLQCw
5T WD haha
BMFL<OD
next week(s) is here
"UP TO 5000 ARRESTS AND MANY MORE RESIGNATIONS"
It will be interesting to see how this all unfolds. Other then Zoellick's resignation I have not heard much in the main stream media. The only reason I believe we are hearing anything about WB vacancy is because China is jockeying to become the fist non American to hold the seat at the WD.
One has to wonder what is truly going on, and who is behind all of this!
"SPECULATION IS UP TO 5000 ARRESTS AND MANY MORE RESIGNATIONS"
http://www.themistsofavalon.net/n4208-11-resignations-coming-now-today-from-bank-ceo-s-around-the-globe
5T WD haha
BMFL<OD
next week(s) is here
Sun Feb 19, 2012 10:33 am by Carol
18 FEB. 2012 SEVERAL RESIGNATIONS COMING NOW/TODAY FROM BANK CEO'S AROUND THE GLOBE
THESE ARE BELIEVED TO BE THE RESIGNATIONS THUS FAR (PENDING CONFIRMATION): Resignations Global Banks ....1) World Bank CEO Zoellick resigns; 2) Anz Bank CFO Australia resigns; 3) Nicaraqua Central Bank Pres Rosales resigns; 4) Credit Suisse Chief Joseph Tan resigns; 5) GERMAN PRESIDENT Christian Ruff resigns; 6) Royal Bank of Scotland Austrailin CEO Stephen Williams resigns; 7) Kuwait Central Bank CEO resigns; Cool Slovenia TWO largest Banks CEO's (2) resign; 9) Bank of India CEO Chaturvedi resigns; 10) Tamilnad Mercantile Bank CEO resigns; 11) GOLDMAN SACHS CEO Blankenfein to resign.
ARE WE ARE BEGINNING TO SEE THE FALL OF THE VAST CORRUPTION IN THE WORLD? MORE DETAILS WILL BE FORTHCOMING AS THIS UNFOLDS.
Resignations Global Banks ....
1. World Bank CEO Zoellick resigns
http://business.time.com/2012/02/15/world-bank-president-zoellick-resigns/
2. Anz Bank CFO Australia resigns
http://www.proformative.com/news/1470243/cfo-anz-bank-resigns-amid-turmoil
3. Nicaraqua Central Bank Pres Rosales resigns
http://www.bloomberg.com/news/2012-02-14/nicaragua-central-bank-head-quits-amid-row.html
4. Credit Suisse Chief Joseph Tan resigns
http://www.businessweek.com/news/2012-02-17/credit-suisse-s-private-bank-chief-asian-economist-tan-resigns.html
5. GERMAN PRESIDENT Christian Ruff resigns
http://www.dailymail.co.uk/news/article-2102524/German-President-Christian-Wulff-forced-resign.html
6. Royal Bank of Scotland Austrailin CEO Stephen Williams resigns
http://www.theaustralian.com.au/business/wall-street-journal/andrew-chick-to-lead-royal-bank-of-scotlands-australian-arm/story-fnay3vxj-1226272513981
7. Kuwait Central Bank CEO resigns
http://www.washingtonpost.com/business/industries/kuwait-central-bank-chief-resigns-amid-political-tensions/2012/02/13/gIQAcxrOAR_story.html
8. Slovenia TWO largest Banks CEO's (2) resign
http://www.bloomberg.com/news/2012-02-15/slovenia-s-nova-kreditna-banka-maribor-ceo-plos-resigns.html
9. Bank of India CEO Chaturvedi resigns
http://www.livemint.com/2012/02/06160111/Dhanlaxmi-Bank-CEO-Amitabh-Cha.html
10. Tamilnad Mercantile Bank CEO resigns
http://www.business-standard.com/india/news/tamilnad-mercantile-bank-md-resigns/464259/
11. GOLDMAN SACHS CEO Blankenfein to resign.
http://www.huffingtonpost.com/2011/05/06/lloyd-blankfein-goldman-s_n_858647.html?
JERSEY CITY, New Jersey (Lauren Tara LaCapra) - Goldman Sachs Group Inc Chairman and Chief Executive Lloyd Blankfein said he is not stepping down, despite media reports that he has plans to resign
SPECULATION IS UP TO 5000 ARRESTS AND MANY MORE RESIGNATIONS
http://www.themistsofavalon.net/n4208-11-resignations-coming-now-today-from-bank-ceo-s-around-the-globe
Just came across this. I know its old but sweet post man.
Thomson Financial - Gradient downgrades KNIGHT TRADING GROUP INC from HOLD to SELL.
INVESTARS ANALYST ACTIONS - PRIVATE – 10:05 AM ET 01/23/2012
snicker ..
===
4kids
all jmo
Ford Equity Research downgrades KNIGHT TRADING GROUP INC from FAVORABLE to NEUTRAL.
INVESTARS ANALYST ACTIONS - PRIVATE – 7:29 PM ET 01/21/2012
===
4kids
all jmo
Detailed Quote:KCG Last Trade 12.10
KNIGHT TRADING GROUP INC
12.10 0.00 (0.00 %)AS OF 4:04:17PM ET 01/11/2012
Trade Time 4:04:17pm ET
Last Trade Exchange NYSE
Today's Change 0.00
Today's % Change 0.00%
Open 12.00
Today's High 12.11
Today's Low 11.91
Previous Close Price
01/10/2012 12.10
52-Week High
02/18/2011 14.72
52-Week Low
07/19/2011 10.25
Price Performance (Last 52 Weeks)
01/11/2012 -12.51%
Volume 858,871
10-Day Average Volume 567,677
90-Day Average Volume 1,603,385
KCG = DEAD MONEY FOR 2 YRS ..
watch to see if *efforts* are duplicated for an orchestrated *run*
over the coming weeks .. you'll know if the taint has permeated
if the pps resides in this *telling* channel KCG (FKA NITE)
has held ~ since OCT 2009
===
4kids
all jmo
KCG their turn is coming ..
KCG >> their turn is coming ..
==
4kids
all jmo
FINRA Fines Credit Suisse Securities $1.75 Million
for Regulation SHO Violations and Supervisory Failures
Dec. 27, 2011, 10:18 a.m. EST
WASHINGTON, Dec 27, 2011 (BUSINESS WIRE) -- The Financial Industry Regulatory Authority (FINRA) announced today that it has fined Credit Suisse Securities (USA) LLC $1.75 million for violating Regulation SHO (Reg SHO) and failing to properly supervise short sales of securities and marking of sale orders. As a result of these violations, Credit Suisse entered millions of short sale orders without reasonable grounds to believe that the securities could be borrowed and delivered and mismarked thousands of sales orders.
In a short sale, the seller sells a security it does not own. When it is time to deliver the security, the short seller either purchases or borrows the security in order to make the delivery. Reg SHO requires a broker or dealer to have reasonable grounds to believe that the security could be borrowed and available for delivery before accepting or effecting a short sale order. Requiring firms to obtain and document this "locate" information before the short sale is entered reduces the number of potential failures to deliver in equity securities. In addition, Reg SHO requires a broker or dealer to mark sales of equity securities as long or short.
Brad Bennett, FINRA Executive Vice President and Chief of Enforcement, said, "Credit Suisse's Reg SHO supervisory and compliance monitoring system was seriously flawed. Millions of short sale orders were being entered in its systems without locates for over four years because the firm did not have adequate Reg SHO technology and procedures in place."
FINRA found that from June 2006 through December 2010, Credit Suisse's Reg SHO supervisory system regarding locates and the marking of sale orders was flawed and resulted in a systemic supervisory failure that contributed to significant Reg SHO failures across its equities trading business. During the time period, Credit Suisse released millions of short sale orders to the market without locates, including threshold and hard to borrow securities. The locate violations extended to numerous trading systems, aggregation units and strategies. In addition, Credit Suisse mismarked tens of thousands of sale orders in its trading systems. The mismarked orders included short sales that were mismarked as "long," resulting in additional violations of Reg SHO's locate requirement.
As a result of its supervisory failures, many of Credit Suisse's violations were not detected or corrected by the firm until after FINRA's investigation caused Credit Suisse to conduct a substantive review of its systems and monitoring procedures for Reg SHO compliance. FINRA found that Credit Suisse's supervisory framework over its equities trading business was not reasonably designed to achieve compliance with the requirements of Reg SHO and other securities laws, rules and regulations throughout the period at least June 2006 through at least December 2010.
In concluding this settlement, Credit Suisse neither admitted nor denied the charges, but consented to the entry of FINRA's findings. (my bolding for emphasis)
FINRA's investigation was conducted by Jeanne Elmadany and Chun Li under the supervision of Susan Light, Chief Counsel.
Investors can obtain more information about, and the disciplinary record of, any FINRA-registered broker or brokerage firm by using FINRA's BrokerCheck. FINRA makes BrokerCheck available at no charge. In 2010, members of the public used this service to conduct 17.2 million reviews of broker or firm records. Investors can access BrokerCheck at http://www.finra.org/brokercheck or by calling (800) 289-9999. Investors may find copies of this disciplinary action as well as other disciplinary documents in FINRA's Disciplinary Actions Online database.
FINRA, the Financial Industry Regulatory Authority, is the largest independent regulator for all securities firms doing business in the United States. FINRA is dedicated to investor protection and market integrity through effective and efficient regulation and complementary compliance and technology-based services. FINRA touches virtually every aspect of the securities business - from registering and educating all industry participants to examining securities firms, writing rules, enforcing those rules and the federal securities laws, informing and educating the investing public, providing trade reporting and other industry utilities, and administering the largest dispute resolution forum for investors and firms. For more information, please visit www.finra.org .
SOURCE: Financial Industry Regulatory Authority (FINRA)
http://www.marketwatch.com/story/finra-fines-credit-suisse-securities-175-million-for-regulation-sho-violations-and-supervisory-failures-2011-12-27
5T WD
BMFL<OD
next week(s) is here
KCG Volume Statistics
Knight Capital Group, Inc. (November 14, 2011) (NYSE Euronext: KCG) today announced equities and foreign exchange volume statistics for the month of October 2011.
Equities
For the month of October 2011, the Dow Jones Industrial Average, the S&P 500 and Nasdaq Composite Index increased 9.5%, 10.8% and 11.1%, respectively. During the same period, the CBOE Volatility Index (VIX) averaged 32.8.
Knight's equities volumes were as follows:
Average daily U.S. equities dollar volume traded in October 2011 was $32.5 billion, up approximately 1.2% from $32.1 billion in September 2011 and up approximately 26.2% from $25.8 billion in October 2010.
Average daily U.S. equities trade volume in October 2011 was 4.8 million, up approximately 3.7% from 4.7 million in September 2011, and up approximately 33.2% from 3.6 million in October 2010.
Average daily U.S. equities share volume in October 2011 was 3.1 billion, down approximately 9.0% from 3.4 billion in September 2011, and down approximately 55.7% from 6.9 billion in October 2010.
Knight Direct recorded average daily equities share volume in October 2011 of 211.1 million, up approximately 10.9% from 190.3 million in September 2011, and up approximately 26.8% from 166.5 million in October 2010.*
In equities, there were 21 trading days in October 2011, September 2011 and October 2010.
Foreign Exchange
Hotspot FX recorded average daily notional dollar value traded in October 2011 of $68.3 billion, up approximately 0.2% from $68.1 billion in September 2011, and up approximately 54.5% from $44.2 billion in October 2010.
In foreign exchange, there were 21 trading days in October 2011, 22 days in September 2011 and 21 days in October 2010.
http://www.knight.com/ourfirm/volumestats.asp
Their Robotic Programs
have been in place for so long it will take a complete rebooting of the system to correct the viruses within!
Thanks for the link below!
KCG - 20111205|GBTR|1420|0|13770|Ok Thats funny they pick my GBTR buy as Short Interest... Very Well, Me vs. Short Interest... But I do have help on the Way!
http://regsho.finra.org/FORFshvol20111205.txt
So the Games Begin... HaHa - Funny MMs, at least now I know they are not robots and do have a odd sense of humor.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=69632768
BMFL<OD
next week(s) is here
KCG - 20111205|GBTR|1420|0|13770|Ok Thats funny they pick my GBTR buy as Short Interest... Very Well, Me vs. Short Interest... But I do have help on the Way!
http://regsho.finra.org/FORFshvol20111205.txt
So the Games Begin... HaHa - Funny MMs, at least now I know they are not robots and do have a odd sense of humor.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=69632768
NITE et al will be revealed!
"AlanC, There is no Shorty! Just market makers abusing their privilege to naked short sell to create a market. They also manipulate as much as possible in order to make sure they play the position properly.
Within time, those who have issued billions upon billions of naked short shares that are hidden in the electronic systems of NITE et al will be revealed.
Will be fun to watch as those illegally selling and stealing from investors are forced to put cash into the accounts of the retail traders who trust the system way too much.
Those retail broker-dealers have so much to lose if it is determined that they are aiding and abetting the marker makers who are creating phantom positions in their systems.
FFGO will be one of may stocks that investors will see their capital returned.
To the tune of 3449% from $0.0001!
Tic Toc"~SevenTenEleven
BMFL<OD
next week(s) is here
Shareholders have the upper hand here!
"FFGO - AlanC, about 75% of FFGO's total volume is via NITE. The other 25% comes from ETMM. NITE makes a market for a number of retail brokers, including ET, ST, and TDA. ETMM is ET's market maker.
It is strange that TDA will fill buys for FFGO immediately, but there is a stall and a delay for ET fills. It is possible that ET sees what is coming and does;t just fill orders through NITE immediately. They might force NITE to force their hand in filling.
It is going to come down soon enough. Those working for NITE and with NITE to bury the FTD's have placed their bets.
Shareholders have the upper hand here. The more false and misleading information presented, the more I encourage shareholders to do their own follow up DD. The DD I have done appears to protect our dividends as they sit in WD awaiting the company's final 8-K filing.
It will be interesting to see Shorty pay the price for his lack of respect for a well informed shareholder base, who is supported by a well structured business plan to protect the principals' equity.
We have been warned but the company, the SEC, and FINRA about anonymous claims of anything but what the company, the State of Wyoming Statutes state.
FINRA has been so kind as to repeat it a number of times in an email. Just as they have directed me to sources provided by FINRA that states the daily and bimonthly short numbers may in fact be under inclusive, not over reported as some anonymous individuals claim.
I have attempted to add while we sit on the grey market. Problem is there are no sell orders sitting there as claimed, IMO. Otherwise, the orders would execute immediately.
Good Luck!"~SevenTenEleven
BMFL<OD
next week(s) is here
S&P Smacks Major Banks With Downgrades
The downgrades were a part of S&P’s overhaul of its rating system. Last week it was noted that the updates in the way S&P rates banks’ could mean lower ratings for some.
Read Downgrades On The Way For Some Banks Amid S&P Ratings Overhaul
Turns out it meant lower ratings for a lot of banks. Just about every major U.S. bank was downgraded under the new methodology: BofA, Citigroup, Morgan Stanley, Goldman Sachs, Wells Fargo, JPMorgan Chase, Bank of New York Mellon.
“All in, while not a good thing and the banks remain on negative watch, we think these changes have been well telegraphed by now and we don’t expect much of a reaction in the equity or debt markets,” writes Nomura bank analyst Glenn Schorr.
It’s tough to keep up with all the various downgrades coming out of ratings agencies on financials lately. In September Moody’s cut BofA’s long-term credit rating was downgraded to Baa1 from A2 and its short-term rating to P-2 from P-1. At the same time it also hit Wells Fargo with a downgrade of its long-term senior debt rating to A2 from A1. Citi’s short-term rating was dropped to to Prime-2 from Prime-1 by Moody’s.
At the time Moody’s said its downgrade of BofA did not reflect the banks credit quality. Moody’s said its “decision to downgrade our credit rating is based on factors external to Bank of America: Their conclusion that the Dodd-Frank legislation will make the U.S. government less likely to support financial institutions in a crisis, and a possible further deterioration of the economy. In fact, Moody’s explicitly stated that the downgrades do not reflect a weakening of the intrinsic credit quality of Bank of America.”
Fitch said in November that the crisis in Europe could have a negative impact on the U.S. banking industry. The rating agency said the outlook for the U.S. banking industry is stable but noted that that could change. From Fitch: “Unless the eurozone debt crisis is resolved in a timely and orderly manner, the broad outlook for U.S. banks will darken…The risks of a negative shock are rising and could alter Fitch’s stable rating outlook for U.S. banks.”
Here’s today’s release from S&P:
Standard & Poor’s Applies Its Revised Bank Criteria To 37 Of The Largest Rated Banks And Certain Subsidiaries
NEW YORK Nov. 29, 2011–Standard & Poor’s Ratings Services today said it reviewed its ratings on 37 of the largest financial institutions in the world by applying its new ratings criteria for banks, which were pblished on Nov. 9, 2011. See the Ratings List for the ratings on these banks, their core and highly strategic subsidiaries, and other subsidiaries that we took rating actions on as a result of applying our new criteria to their parents. We will review all ratings that we placed on CreditWatch within 90 days. Ratings on CreditWatch are designated as Watch Neg or Watch Pos in the list below.
We will publish individual research updates on the bank groups identified below, including a list of ratings on affiliated entities, as well as the ratings by debt type–senior, subordinated, junior subordinated, and preferred stock. The research updates will be available at http://www.standardandpoors.com/AI4FI and on RatingsDirect on the Global Credit Portal. Ratings on specific issues will be available on RatingsDirect on the Global Credit Portal and http://www.standardandpoors.com.
http://www.forbes.com/sites/halahtouryalai/2011/11/29/sp-smacks-dozens-of-banks-with-downgrades/
BMFL<OD
next week(s) is here
S&P downgrades top US banks' credit ratings
By EILEEN AJ CONNELLY
AP Business Writer
By EILEEN AJ CONNELLY
Updated: 2011-11-30T05:27:23Z
More News
Japan factory output rises but outlook weak Report: States cut funding for tobacco prevention Haiti leader says he wants to create 500,000 jobs S&P downgrades top US banks' credit ratings Confidence index, action on Europe crisis send stocks mostly higher Americans' confidence in the economy surges American Airlines timeline Greece gets $10.7 billion but rescue plan stalls Survey: Home prices down in most major US cities Strong global sales boost Tiffany's 3Q results James Murdoch re-elected chair of BSkyB American Air travelers react to bankruptcy news Indian politicians fail to agree on retail changes Metals rise for second day on hopes for growth Humana announces deal to buy chronic-care provider Strong global sales boost Tiffany's 3Q results Pilots: United gets single operating certificate Egypt stock market spikes on elections How the major stock indexes fared on Tuesday MasterCard, Western Union teaming up on prepaid NEW YORKStandard & Poor's Ratings Services has lowered its credit ratings for many of the world's largest financial institutions, including the biggest banks in the U.S.
Bank of America Corp. and its main subsidiaries are among the institutions whose ratings fell at least one notch Tuesday, along with Citigroup Inc., Goldman Sachs Group Inc., JPMorgan Chase & Co., Morgan Stanley and Wells Fargo & Co.
S&P said the changes in 37 financial companies' ratings reflect the firm's new criteria for banks, and they incorporate shifts in the industry and the role of governments and central banks worldwide. The agency did not release its evaluation of each company but said it plans to discuss the changes during a conference call early Wednesday.
Bank of America's issuer credit rating was cut to "A-" from "A," as were its Countrywide Financial Corp. and Merrill Lynch & Co. Inc. units, along with a series of related subsidiaries
Ratings downgrades are never seen as positive, but this round may be particularly damaging for Bank of America.
Concern already was growing Tuesday about whether B of A has enough capital to withstand another downturn in the U.S. economy or further trouble in Europe, and the bank's stock fell to a two-year low before the ratings announcement.
The Charlotte, N.C.-based bank said in a recent regulatory filing that downgrades from S&P or Fitch Ratings, which also is reevaluating its ratings, "could likely have a material adverse effect on our liquidity" and cut off its access to credit markets.
It typically costs companies more to borrow when their credit ratings are cut, the same way a decline in a person's credit scores drives up the interest rates that banks and credit cards will offer him.
Downgrades could hurt parts of the bank's businesses where creditworthiness is critical, Bank of America said in a filing Nov. 3 with the Securities and Exchange Commission.
A downgrade also could trigger provisions in derivative contracts that require B of A to put up more collateral, and it could terminate the contracts, resulting in losses and hurting the bank's liquidity. The bank posted a $6.2 billion profit for the third quarter, mostly the result of accounting gains and the sale of a stake in a Chinese bank, but it was still moving toward a loss for the year as of Sept. 30.
Bank of America shares fell 17 cents, or 3.2 percent, to close Tuesday at $5.08 and lost another penny after hours.
S&P cut its rating on Citigroup Inc.'s credit to "A-" from "A"; a series of its subsidiaries also saw changes. Citigroup shares closed up 19 cents, at $25.24, and lost 14 cents aftermarket.
Goldman Sachs also was cut to "A-" from "A," which triggered some downgrades for subsidiaries. The investment bank's shares closed regular trading down $1.62, at $88.81, and lost another 12 cents in late trading.
JPMorgan Chase's rating also dropped to "A" from "A+," and its Chase Bank unit was downgraded to "A+" from "AA-" and other subsidiaries ratings also changed. JPMorgan Chase took the place of Bank of America as the nation's largest bank in recent months.
The bank's stock lost 6 cents aftermarket after closing the regular session down 60 cents, or 2 percent, at $28.56.
Morgan Stanley's rating slipped to "A-" from "A" and several of its units also got cut one notch. Shares slipped 9 cents in late trading from their close down 49 cents, or 3.6 percent, at $13.31.
Wells Fargo fell to "A+" from "AA-" which likewise triggered downgrades for several subsidiaries. Shares closed down 7 cents at $24.08, then lost 18 cents aftermarket.
In addition, Bank of New York Mellon Corp., the sixth biggest bank in the U.S., was cut to "A+" from "AA-," and some units were downgraded. Bank of New York Mellon is a custodian bank, which collects dividends on stocks and holds cash deposits, among other things, on behalf of its customers, which are mainly large pension funds and money market funds. The stock closed down a penny at $18.08, then lost 8 cents in late trading.
Top U.K. downgrades include Barclays PLC, HSBC Holdings PLC, Lloyds Banking Group PLC and The Royal Bank of Scotland.
Ratings for several big European banks, including Credit Suisse, Deutsche Bank, ING Groep N.V. and Societe Generale were unchanged, but in some cases they were given a "negative" outlook.
Copyright 2011 . All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Posted on Tue, Nov. 29, 2011 04:30 PM
Read more: http://www.kansascity.com/2011/11/29/3292670/sp-downgrades-top-us-banks-credit.html#ixzz1fAOaeUJR
BMFL<OD
next week(s) is here
Did NITE NSS 2.25 trillion shares of CMKX with the hopes of directing all of the blame on the insiders and Edwards?
How many others has NITE NSS'd?
HESG was a likely cover by NITE in 2009.
How about FFGO and HGLC?
How deep is NITE?
Tic Toc
it's a rigged game and even the talking heads on cnbc
now refer to the us market .. as a casino .. excellent
here's to finally getting clarity on knight's MONOPOLY
on the *poorly watched* OTC out of the dolts in dc b4
another decade comes to an end
==
4kids
all jmo
Thomson Financial - Gradient downgrades KNIGHT CAPITAL GROUP INC from BUY to SELL.
BY Investars Analyst Actions - private
— 7:19 AM ET 11/15/2011
On November 15, 2011 Thomson Financial - Gradient downgraded KNIGHT CAPITAL GROUP INC (KCG) from BUY to SELL.
==
you know it's bad when *thompson* downgrades .. lol
==
4kids
all jmo
Zacks Investment Research, Inc. drops coverage for KNIGHT CAPITAL GROUP INC.
BY Investars Analyst Actions - private
— 7:29 AM ET 11/17/2011
On November 16, 2011 Zacks Investment Research, Inc. dropped coverage for KNIGHT CAPITAL GROUP INC. (KCG)
gee i'm shocked .. short this sucker to the cellar
of course the entire OTC market will implode due to NITE's
MONOPOLY and *tentacles* everywhere .. but i'd rather that
and the *change* that will bring vs more of the BOGUS BS
done the past years ..
==
4kids
all jmo
Those who live by the short die by the qtip.
UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
SECURITIES EXCHANGE ACT OF 1934
Release No. 65733 / November 10, 2011
ADMINISTRATIVE PROCEEDING
File No. 3-14620
In the Matter of
UBS Securities LLC,
Respondent.
ORDER INSTITUTING ADMINISTRATIVE AND CEASE-AND-DESIST PROCEEDINGS PURSUANT TO SECTIONS 15(b) AND 21C OF THE SECURITIES EXCHANGE ACT OF 1934, MAKING FINDINGS, AND IMPOSING REMEDIAL SANCTIONS AND A CEASE- AND-DESIST ORDER
I.
The Securities and Exchange Commission (“Commission”) deems it appropriate and in the public interest that public administrative and cease-and-desist proceedings be, and hereby are, instituted pursuant to Sections 15(b) and 21C of the Securities Exchange Act of 1934 (“Exchange Act”) against UBS Securities LLC (“Respondent”).
II.
In anticipation of the institution of these proceedings, Respondent has submitted an Offer of Settlement (the “Offer”) which the Commission has determined to accept. Solely for the purpose of these proceedings and any other proceedings brought by or on behalf of the Commission, or to which the Commission is a party, and without admitting or denying the findings herein, except as to the Commission’s jurisdiction over it and the subject matter of these proceedings, which are admitted, Respondent consents to the entry of this Order Instituting Administrative and Cease-and-Desist Proceedings Pursuant to Sections 15(b) and 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order (“Order”), as set forth below.
III.
On the basis of this Order and Respondent’s Offer, the Commission finds that:
Summary
1. These proceedings arise out of practices engaged in by the securities lending desk of UBS Securities LLC (“UBS”) in providing and recording “locates” to its customers to enable the customers to execute short sales. The practices described herein have been in place at UBS since at least 2007.
2. Regulation SHO (“Reg SHO”) prohibits broker-dealers from accepting short sale orders in equity securities or effecting a short sale in an equity security for its own account unless the broker or dealer has borrowed the security or entered into a bona fide arrangement to borrow the security or has reasonable grounds to believe the security can be borrowed for delivery when due, and has documented compliance with this requirement. A “locate” represents a determination by a broker-dealer that it has borrowed or has entered into a bona fide arrangement to borrow particular securities, or has reasonable grounds to believe that particular securities can be borrowed for delivery when due. In anticipation of, or coincident to, placing short sale orders, customers routinely contact broker-dealers to request locates. To comply with Reg SHO in circumstances where a manual locate process was required, UBS’s securities lending desk created and maintained a record (a “locate log”) purporting to show the basis upon which UBS had granted locates to its customers.
3. Accordingly, whenever a lending desk employee (“lending desk trader”) approved a locate request, the lending desk trader recorded the particular source of the shares available to borrow on the UBS locate log, such as another financial institution that had shares available to lend to UBS. Specifically, each locate included either the name of an employee at the lender or an indication that the lending desk trader was relying on an electronic availability feed. Thus, UBS’s locate log appeared to distinguish between locates granted based on UBS contacting a lender’s employee to confirm availability of shares and locates granted based on an electronic availability feed that lenders typically broadcast simultaneously to many broker-dealers before the market opens each day. In practice, however, UBS securities lending desk traders routinely recorded the name of a lender’s employee even when no one at UBS had actually contacted the lender employee to confirm availability.
4. UBS’s locate documentation practices created an inaccurate record regarding the basis upon which locates had been granted and caused locates to be granted without UBS documenting a reasonable basis for locates. UBS’s locate documentation practices created a risk of locates being granted based on sources that could not be relied upon if shares were needed for UBS’s or another executing broker’s settlement obligations. Accordingly, as a result of its actions, UBS violated Section 17(a) of the Exchange Act and Rule 203(b) of Regulation SHO thereunder.
Respondent
5. Respondent UBS Securities LLC, headquartered in Stamford, Connecticut, is dually-registered with the Commission as a broker-dealer and investment advisor. In 2005, UBS consented to the Commission’s entry of an Order sanctioning it for violations of Exchange Act Section 17(a) and Rule 17a-4 thereunder relating to its failure to preserve and timely produce certain emails.
Background
A. The UBS Securities Lending Desk
6. Although a large number of locate requests were handled by the Firm’s auto- approval function, many inquiries were addressed manually. In determining whether to approve such locate requests received from UBS customers, UBS securities lending desk traders considered, among other things, whether they could reasonably expect to borrow the shares from other financial institutions when delivery was due. One potential source for information about shares available to borrow was electronic availability feeds sent to UBS by various institutions each day before the markets open. These electronic feeds typically identified the securities and quantities of each security that the institutions may have available to lend.
7. At times, market conditions and other factors may have made relying on electronic availability feeds to grant locate requests unreasonable. In these circumstances, UBS lending desk traders were trained to communicate to each other information they learned about the securities they handled, especially information about whether particular lenders had stopped lending or were lending on terms indicative of limited availability of shares to borrow. UBS expected these communications about limited availability to alert traders handling locate requests that they may need to confirm the availability of shares to borrow by contacting the lender directly in order to form a reasonable belief about the number of shares available.
B. The UBS “Locate Log”
8. UBS recorded every locate request received by its securities lending desk in a computerized system that generated what was referred to internally as an “ASAP report.” The ASAP report, also called a “locate log,” was a record created and maintained by UBS in order to fulfill its obligation under Reg SHO to document its compliance with the requirement that UBS either have borrowed a security or entered into a bona fide arrangement to borrow a security, or had reasonable grounds to believe that a security could be borrowed by the delivery date, before accepting a short sale order for a security.
9. UBS had written procedures in place that specified the information lending desk traders were required to record when granting locates toward fulfilling its Reg SHO obligations. The procedures required two key pieces of information. First, the trader was required to identify the name of a lender from which UBS could reasonably expect to borrow the security in question. And second, if the source was another financial institution, the trader was required to record the name of the contact at the lender or, if the trader relied on the electronic feed from the lender, then the trader was directed to enter “electronic feed.”
10. Thus, on the face of the UBS locate log, each approved locate sourced to a potential lender appeared to represent an instance in which either (a) a lending desk trader had determined that a particular feed could reasonably be relied upon as a locate source; or (b) a lending desk trader had confirmed that the lender had shares available by contacting the lender employee identified in the log.
11. The locate log distinguished between locates based on a direct contact with a lender employee and locates based on an electronic feed to enable UBS to monitor whether its lending desk employees were satisfying their Reg SHO obligations by reviewing the grounds on which locates were granted for reasonableness under the circumstances and to provide a clear record for regulatory review and oversight of UBS’s compliance with those same obligations.
C. UBS Violated Exchange Act Section 17(a) by Creating an Inaccurate Locate Log
12. In practice, UBS securities lending desk traders recorded locates sourced to employees of lenders even when nobody at UBS had actually contacted the lender employees to confirm the availability of shares to borrow. According to UBS lending desk supervisors and traders, a locate log entry reflecting a contact name at the lender could mean either that the lending desk trader directly contacted the lender to confirm the availability of shares to borrow or that the lending desk trader was relying on an electronic feed disseminated before the market opened.
13. The lending desk practice of recording locates sourced to lender employees whom it had never contacted was pervasive, extending to every security handled by the lending desk.
14. For example, thousands of locates were sourced to lender employees who were out of the office and could not have provided information to UBS on the availability of shares to borrow. Further, thousands of those locates were for securities that were Reg SHO threshold securities.1 In addition, many locates were sourced to lender employees at times when the lenders were not lending the security. In some of these circumstances, other UBS securities lending desk traders were aware that the lender was not lending the security, and in all of these cases, UBS would have discovered that the lender was not lending the security if its lending desk traders had contacted the lender directly as the locate log indicated.
1 Rule 203(c)(6) of Reg SHO defines a “threshold security” as a security for which the aggregate number of fails to deliver at a registered clearing agency is 10,000 shares or more, and at least equal to .5% of the issue’s total shares outstanding, for five consecutive settlement days.
15. UBS knew it was the practice of its lending desk traders to record locates sourced to lender employees even when the lender had not been contacted to confirm availability, yet permitted that practice to continue.
16. UBS allowed lending desk traders to duplicate and reuse locate approval information from prior locates to document new locate approvals sourced to the same lender and the lending desk traders did so because it saved time in documenting locates. This practice further increased the potential for locates sourced to lender employees who had not actually confirmed the availability of shares to borrow, and created a risk of locates being granted without UBS having reasonable grounds to believe the security could be borrowed.
17. By permitting a practice under which locate log entries sourced locates to lender employees regardless of whether the lending desk trader contacted the lender employee, UBS created a system of documentation from which it was not possible to tell the basis upon which the locates were actually granted.
18. Moreover, the misuse of lender employee names in documenting the basis for granting locates created an impression that the basis upon which those locates were granted was direct contact with the lender to confirm availability, even when that was not the case. In certain circumstances, it may not have been reasonable for UBS to rely on an electronic feed to grant locates, whereas contacting the lender directly to confirm the availability of shares would have been reasonable.
D. UBS’s Practices Violated Reg SHO
19. As a result of UBS’s practices in creating its locate log, UBS securities lending desk traders routinely documented inaccurately the basis upon which locates had been granted.
20. UBS’s practices in documenting the basis for granting locates resulted in a locate log that suggested that UBS had acted reasonably in granting locates when that may not have been the case. Despite the notations in UBS’s locate logs, locates may have been granted based on (i) electronic feeds on days when it would not have been a reasonable practice to do so or sourced to lenders who were not lending the particular security, including during periods of market stress when availability to borrow securities may have been constrained, and (ii) duplicated and reused locate approval information from prior locates to document new locate approvals sourced to the same lender.
21. As a result, in some circumstances, UBS’s practices permitted lending desk traders to approve locates without accurately documenting reasonable grounds for the belief that shares could be borrowed by the delivery date.
22. Moreover, because UBS created a locate log that did not document accurately the basis on which locates were granted, UBS’s locate log did not permit a determination of whether it had reasonable grounds to believe securities could be borrowed to satisfy its delivery obligations.
23. Although the issues discussed above concerning UBS’s Reg SHO compliance persisted from at least 2007, the impact of its practices was mitigated by certain factors. First, some of the locates UBS granted were furnished to clients who did not execute short sales using the locates UBS granted or did so for share amounts smaller than the amounts for which approvals were granted. Second, some of the lenders may have had the ability to lend sufficient securities by the delivery date to allow UBS to meet its settlement obligations, notwithstanding the inaccurate documentation of the basis for granting the locates. Finally, UBS was generally able to meet its settlement obligations by borrowing stock from sources other than the lenders identified in its locate log.
Violations
24. As a result of the conduct described above, UBS willfully2 violated Section 17(a) of the Exchange Act and Rule 203(b) of Regulation SHO thereunder. Rule 203(b) prohibits a broker or dealer from accepting a short sale order in an equity security or effecting a short sale in an equity security for its own account unless the broker or dealer has borrowed the security, entered into a bona fide arrangement to borrow the security or has reasonable grounds to believe that the security can be borrowed for delivery when due and has documented compliance with this requirement. Section 17(a) requires brokers and dealers, among others, to make, keep, and furnish to the Commission such records as the Commission proscribes by rule. Inherent in the record keeping requirement of Section 17(a) is a requirement that the records be accurate. In the Matter of Prime Capital Servs., Inc., 2010 SEC LEXIS 2086 at *134 (Initial Decision June 25, 2010). As described above, UBS, by employing practices that allowed securities lending desk traders to source locates to lender employees even when the UBS trader did not contact the lender to confirm the availability of shares, failed to document reasonable grounds for granting locates in violation of Section 203(b) and the firm failed to make an accurate record of its basis for granting locates in violation of Section 17(a).
2 A willful violation of the securities laws means merely “‘that the person charged with the duty knows what he is doing.’” Wonsover v. SEC, 205 F.3d 408, 414 (D.C. Cir. 2000) (quoting Hughes v. SEC, 174 F.2d 969, 977 (D.C. Cir. 1949)). There is no requirement that the actor “‘also be aware that he is violating one of the Rules or Acts.’” Id. (quoting Gearhart & Otis, Inc. v. SEC, 348 F.2d 798, 803 (D.C. Cir. 1965)).
Undertakings
25. Respondent has undertaken to:
A. Retain, at Respondent’s expense and within thirty (30) days of the issuance of this Order, a qualified independent consultant (the “Consultant”) not unacceptable to the staff of the Division of Enforcement (the “Staff”). Respondent shall require the Consultant to conduct a comprehensive review of Respondent’s Securities Lending Desk policies, procedures and practices with respect to granting locate requests and UBS’s procedures to monitor compliance therewith, to satisfy its obligations under Section 17(a) of the Exchange Act and 203(b) of Reg SHO thereunder to (i) accept short sale orders for equity securities only if it has borrowed the securities or entered into a bona fide arrangement to borrow the securities or has reasonable grounds to believe that securities can be borrowed for delivery when due; and (ii) document compliance with Rule 203(b)(1).
B. Cooperate fully with the Consultant, including providing the Consultant with access to its files, books, records, and personnel as reasonably requested for the review, obtaining the cooperation of employees or other persons under UBS’s control, and permitting the Consultant to engage such assistance (whether clerical, legal, technological, or of any other expert nature) as necessary to achieve the purposes of the retention.
C. Require the Consultant to complete its review and submit a written preliminary report (“Preliminary Report”) to UBS and Commission staff within ninety (90) days of the issuance of this Order. UBS shall require that the Preliminary Report address the issues described in paragraph A above, include a description of the review performed, the conclusions reached, recommendations for any changes in or improvements to UBS’s policies and procedures, and a procedure for implementing such recommended changes.
D. Within ninety (90) days of receipt of the Preliminary Report, adopt and implement all recommendations contained in the Preliminary Report; provided, however, that as to any recommendation that UBS considers to be, in whole or in part, unduly burdensome or impractical, UBS may submit in writing to the Consultant and Commission staff, within thirty (30) days of receiving the Preliminary Report, an alternative policy, practice, or procedure designed to achieve the same objective or purpose. Within forty-five (45) days of receiving the Preliminary Report, UBS and the Consultant shall attempt in good faith to reach an agreement relating to each recommendation that UBS considers to be unduly burdensome or impractical. Within fifteen (15) days after the discussion and evaluation by UBS and the Consultant, UBS shall require that the Consultant inform UBS and Commission staff of the Consultant’s final determination concerning any recommendation that UBS considers unduly burdensome or impractical, and UBS shall abide by the determinations of the Consultant and adopt and implement all recommendations within the 90-day time period set forth in this paragraph.
E. Within fourteen (14) days of UBS’s adoption of all of the recommendations that the Consultant deems appropriate, certify in writing to the Consultant and Commission staff that UBS has adopted and implemented all of the Consultant’s recommendations and that UBS has established policies, practices, and procedures consistent with its obligations under Rule 203(b) and Section 17(a).
F. Require that the Consultant review UBS’s revised policies, practices, and procedures for the six month period following implementation of the Consultant’s recommendations, and require that the Consultant submit a written final report (“Final Report”) to UBS and Commission staff within thirty (30) days after the one-year anniversary of the issuance of this Order. The Final Report shall (i) describe the review made of UBS’s revised policies, practices, and procedures; (ii) describe how UBS is implementing, enforcing, and auditing compliance with the policies, practices, and procedures; and (iii) provide an opinion of the Consultant concerning whether UBS is adequately implementing, enforcing, and auditing compliance with the policies, practices, and procedures.
G. Require the Consultant to enter into an agreement that provides that for the period of engagement and for a period of two years from completion of the engagement, the Consultant shall not enter into any employment, consultant, attorney-client, auditing or other professional relationship with UBS, or any of its present or former affiliates, directors, officers, employees, or agents acting in their capacity. The agreement will also provide that the Consultant will require that any firm with which the Consultant is affiliated or of which the Consultant is a member, and any person engaged to assist the Consultant in performance of the Consultant’s duties under this Order shall not, without prior written consent of Commission staff, enter into any employment, consultant, attorney-client, auditing or other professional relationship with UBS, or any of its present or former affiliates, directors, officers, employees, or agents acting in their capacity as such for the period of the engagement and for a period of two years after the engagement.
H. To ensure the independence of the Consultant, UBS shall not have the authority to terminate the Consultant without prior written approval of Commission staff and shall compensate the Consultant and persons engaged to assist the Consultant for services rendered pursuant to this Order at their reasonable and customary rates.
I. Within fourteen (14) days after the one-year anniversary of the issuance of this Order, certify in writing to Commission staff that as of the one-year anniversary date UBS has continued to implement and enforce all of the Consultant’s recommendations and has continued to maintain policies, practices, and procedures consistent with its obligations under Rule 203(b) and Section 17(a).
J. Certify, in writing, compliance with the undertaking(s) set forth above. The certification shall identify the undertaking(s), provide written evidence of compliance in the form of a narrative, and be supported by exhibits sufficient to demonstrate compliance. The Commission staff may make reasonable requests for further evidence of compliance, and Respondent agrees to provide such evidence. The certification and supporting material shall be submitted to Assistant Director Stephanie Shuler, with a copy to the Office of Chief Counsel of the Enforcement Division, no later than sixty (60) days from the date of the completion of the undertakings.
26. For good cause shown, the Commission’s staff may extend any of the procedural dates relating to the undertakings. Deadlines for procedural dates shall be counted in calendar days, except that if the last day falls on a weekend or federal holiday, the next business day shall be considered to be the last day.
IV.
In view of the foregoing, the Commission deems it appropriate, and in the public interest, to impose the sanctions agreed to in Respondent UBS’s Offer.
Accordingly, pursuant to Sections 15(b) and 21C of the Exchange Act, it is hereby ORDERED that:
A. Respondent UBS cease and desist from committing or causing any violations and any future violations of Section 17(a) the Exchange Act and Rule 203(b) of Regulation SHO thereunder.
B. Respondent UBS is censured.
C. Respondent UBS shall, within fifteen (15) days of the entry of this Order, pay a civil money penalty in the amount of $8 million to the United States Treasury. If timely payment is not made, additional interest shall accrue pursuant to 31 U.S.C. 3717. Such payment shall be: (A) made by wire transfer, United States postal money order, certified check, bank cashier's check or bank money order; (B) made payable to the Securities and Exchange Commission; (C) hand- delivered or mailed to the Securities and Exchange Commission, Office of Financial Management, 100 F St., NE, Stop 6042, Washington, DC 20549; and (D) submitted under cover letter that identifies UBS as a Respondent in these proceedings, the file number of these proceedings, a copy of which cover letter and money order or check shall be sent to Stephanie Shuler, Division of Enforcement, Securities and Exchange Commission, 3 World Financial Center, N.Y., N.Y. 10281.
D. Respondent shall comply with the undertakings enumerated in paragraph 25 above.
By the Commission.
Elizabeth M. Murphy
Secretary
http://www.sec.gov/litigation/admin/2011/34-65733.pdf
BMFL<OD
next week(s) is here
"catastrophe insurance for long equity holdings."
http://www.theoptionsinsider.com/unusualactivity/?id=8405
BMFL<OD
next week(s) is here
http://www.theoptionsinsider.com/unusualactivity/?id=8405
http://online.wsj.com/article/SB10001424052970204621904577018330806098996.html
You can shake rattle and roll but once a bulldog gets his teeth into you he will never let go
That subject has come up before!
Maybe someone at one of the big bank boards will know!
KCG - How much insurance does a market maker such as Knight have to carry to cover their margin requirements?~SevenTenEleven
BMFL<OD
next week(s) is here
KCG - How much insurance does a market maker such as Knight have to carry to cover their margin requirements?
Where there is smoke there is fire!
BMFL<OD
next week(s) is here
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Knight Capital Group, Inc. (collectively with its subsidiaries, "Knight" or the "Company") is a global financial services firm that provides access to the capital markets across multiple asset classes to a broad network of clients, including broker-dealers, institutions and corporations. The Company seeks to continually apply its expertise and innovation to the market making and trading process to build lasting client relationships through consistent performance and superior client service. The Company has four operating segments: (i) Market Making, (ii) Institutional Sales and Trading, (iii) Electronic Execution Services and (iv) Corporate and Other.
Market Making
The Market Making segment principally consists of market making in global equities and listed domestic options. As a market maker, the Company commits capital for trade executions by offering to buy securities from, or sell securities to, institutions and broker-dealers. The Market Making segment primarily includes client, and to a lesser extent, non-client electronic market making activities in which the Company operates as a market maker in equity securities quoted and traded on the Nasdaq Stock Market; the over-the-counter ("OTC") market for New York Stock Exchange ("NYSE"), NYSE Amex Equities ("NYSE Amex"), NYSE Arca listed securities; and several European exchanges. As a complement to electronic market making, the Company's cash trading business handles specialized orders and also transacts on the OTC Bulletin Board, the OTC Pink Markets and the Alternative Investment Market ("AIM") of the London Stock Exchange. The segment provides trade executions as an equities Designated Market Maker ("DMM") on the NYSE and NYSE Amex. The Market Making segment also includes the Company's option market making business which trades on substantially all domestic electronic exchanges.
Institutional Sales and Trading
The Institutional Sales and Trading segment includes global equity, exchange traded funds ("ETFs"), and fixed income sales; reverse mortgage origination and securitization; capital markets; and asset management activities. The primary business of the Institutional Sales and Trading segment is to execute and facilitate equities, ETFs and fixed income transactions as an agent on behalf of institutional clients, and commits capital on behalf of clients when needed. This is predominantly a full-service execution business, in which much of the interaction is based on the Company's client relationships. This segment also facilitates client orders through program and block trades and riskless principal trades and provides capital markets services, including equity and debt private placement.
Electronic Execution Services
The Electronic Execution Services segment offers access via its electronic agency-based platforms to markets and self-directed trading in equities, options, fixed income, foreign exchange and futures. In contrast to Market Making, the businesses within this segment generally do not act as a principal to transactions that are executed and generally earn commissions for acting as an agent between the principals to the trade.
Corporate and Other
The Corporate and Other segment invests in strategic financial services-oriented opportunities, allocates, deploys and monitors all capital, and maintains corporate overhead expenses and all other income and expenses that are not attributable to the other segments. The Corporate and Other segment houses functions that support the Company's other segments such as self-clearing services, including stock lending activities.
Discontinued Operations
Discontinued operations comprises costs associated with shutting down the Company's former Deephaven Capital Management business which was discontinued in 2009.
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