First Read

NFA’s Chairman and Executive Committee respond to recent allegations of improprieties regarding the 2014 public director nominations

National Futures Association Member Notice

Dear Member of NFA,

In January of each year, NFA’s Executive Committee makes recommendations to the Board of Directors regarding the election of public representatives at the February Board meeting. NFA Board member James Koutoulas has publicly accused the Executive Committee and others of improprieties in regard to the January 2014 Executive Committee meeting and the Board’s subsequent February 2014 election of public representatives. The Executive Committee has authorized me to assure you that these allegations are false and we deny each and every allegation.


James Koutoulas Needs to Put Up or Step Aside

by John J. Lothian

NFA board of directors member James Koutoulas has made some troubling accusations about the nomination of public directors by the NFA Board’s Executive Committee. He needs to come forth with some convincing smoking gun, proving the conspiracy and cover up he is accusing NFA staff and fellow Executive Committee members of, or resign from the board.

Word of Koutoulas’ accusations filtered out of a Commodity Customer Coalition Town Hall webcast and were reported by Lynne Marek of Crain’s Chicago Business.

Koutoulas claims the NFA Executive Committee did not properly nominate the public directors to the NFA Board. The chairman of the Executive Committee, and of the the NFA Board, Chris Hehmeyer of HTG Capital and Non-Executive Vice Chairman of Wedbush Futures, wrote a letter to NFA members yesterday denying all of Mr. Koutoulas’ charges. Hehmeyer even went to the extent of getting outside counsel to investigate the charges and found “outside counsel’s report concluded that all of the incumbent public directors had been nominated in accordance with NFA’s Articles.”

Koutoulas is in the midst of an election campaign to return to the board, to which he was elected to as a rogue candidate two years ago. Two years ago, I endorsed Koutoulas and fellow rogue candidate John Roe for the board representing CTAs and CPOs following their success in helping MF Global customers recover their funds from the bankrupt futures commission merchant and following the collapse of PFG Best.

This year, I am not making any endorsements, at least in the CTA/CPO category. I know better than to stick my head into the middle of a dogfight.

The most troubling aspect of this whole controversy is the good people who Koutoulas is claiming are in on the conspiracy. I know most of them personally/professionally and they are not the kind of people who would so carelessly throw away their good reputations and those of their company’s for something so little.

Crain’s reported Koutoulas has filed a complaint with the CFTC. Based on his accusation against NFA General Counsel Tom Sexton, which Koutoulas called “heinous,” Koutoulas should be bringing a complaint to the American Bar Association. He has not, according to Crain’s.

I like Koutoulas and Roe and cheerfully endorsed them the last time around. Koutoulas’ accusations are troubling, as I commented at the time. If Koutoulas can’t offer some kind of substantial proof, such as fellow Executive Committee members willing to make a statement of support for his version of events, then he should resign from the board and withdraw from the election or after it if re-elected. As it is, the Executive Committee has made a statement which says “The Executive Committee considers each of the allegations made by Mr. Koutoulas to be wholly without merit.”

Mr. Koutoulas, put up or step aside.

(Editor’s Note: John Lothian News is supported by the NFA in the form of sponsorship and paid newsletter subscriptions. In 2014, John Lothian Productions signed a contract to produce videos for the NFA. In 2014, the NFA substantially reduced the number of paid subscriptions to the John Lothian Newsletter. I was assured by NFA President Dan Roth that this had nothing to do with my endorsement of rogue NFA Board candidates Douglas Bry and Ernest Jaffarian last year. James Koutoulas asked me to share this information with my readers.)


Checks and Balances: James Koutoulas Seeks NFA Board Transparency and Balance in Re-election Bid

This year’s election for the board of directors of the National Futures Association is underway. John Lothian News spoke with several of the candidates, including commodity trading advisor and Commodity Customer Coalition co-founder James Koutoulas, who looked at reforming the association when first elected to the board two years ago.

Koutoulas, CEO of Typhon Capital Management, founded the CCC along with John Roe in the wake of the MF Global bankruptcy in October 2011. Roe and Koutoulas were elected to the NFA in 2013, representing the CTA/CPO category, and now face re-election in a contested election. Koutoulas is running in a three-way race againstGeorge Berbeco and Bernard Denis, III.

Watch the video »


Unfinished Business: John Roe Asks for Two More Years on the NFA Board of Directors

This year’s elections for the board of directors of the National Futures Association is underway. John Lothian News spoke with several of the candidates, including commodity trading advisor and Commodity Customer Coalition co-founder John Roe, first elected to the board two years ago pledging reform.

“When I ran for the board of directors two years ago,” says Roe, “we set out to accomplish a few things with regard to customer protections and increasing regulatory efficiency. Two years just simply is not enough time to get all of that done, and I feel we have a lot more to accomplish.”

Watch the video »


Buying on Dips Prevails in 2014 as S&P 500 Keeps Bouncing

By Joseph Ciolli, Bloomberg

Don’t like the market? Wait a day and it’ll get better. That’s a stock strategy that worked in 2014 like no time in six years, with declines in the Standard & Poor’s 500 Index (SPX) averaging 1.5 days, data compiled by Bloomberg show. It succeeded as companies spent about $2.7 billion a day on buybacks through the third quarter, on pace for the second most on record, according to data from Birinyi Associates Inc.

***** You buy the dips on a bull market.


Why Do You Care What the Market Did Today?

Ken Weber, Huffington Post

Are you one of those people who pore over the Wall Street Journal every morning? Do you find yourself tuning into CNBC to check the market throughout the day? Unless you’re in the investment business, you don’t need to know how the market is doing every business day. It’s better to take a long-term view of all of your investments — or enlist the services of a respected registered investment advisor to manage your money.

***** I was taught to know what five different market sectors did every day. It was part of my job.


Why Saudi Arabia is still in charge

Amrita Sen, FT

Opec’s most influential member cannot be taken for granted

The oil price collapse that started in October 2014 has yet to run its course but this much is already clear: it will be seen as a historic event. The market has never seen anything like this before. The rout in 2008-09 was arguably more dramatic, but led by factors outside of the oil market. It was a result of a financial crisis and a sharp contraction in economic growth, which sapped demand for oil.

***** The market is in charge, but Saudi Arabia is right up there.


Selfie Sticks Rule Holiday Season as Must-Have Accessory

By Spencer Soper, Bloomberg

Oxford Dictionaries made “selfie” the word of the year in 2013. U.S. consumers responded by making the selfie stick the gift of the year in 2014.

***** I am still waiting to see a non-tourist use one of these.


Harvard Law School Found in Violation of Title IX, OCR Says

By Chris Staiti, Bloomberg

Harvard Law School was found in violation of Title IX, the law that prohibits gender discrimination in education, for its failure to respond adequately to sexual assault reports, the Education Department said.

***** Don’t discriminate against future lawyers; it is just a bad idea.


Lead Stories

China May Allow Foreigners to Invest in Futures

By Shen Hong, WSJ

China has proposed allowing foreign investors and brokerages to trade some futures contracts, granting the latter access to a vast, potentially lucrative but notoriously volatile market. The proposed change, which comes in the form of draft guidelines that the country’s securities watchdog released for public consultation on Wednesday, is also seen as a fresh effort to reform its volatile commodities futures market by bringing in foreign institutional investors with more experience and better practices, analysts said.

Singapore’s Stock Exchange Looks to Make Trading More Attractive for Individuals

By Jonathan Burgos, Bloomberg

Singapore Exchange Ltd. (SGX) is looking to individual investors to boost Southeast Asia’s biggest stock market after trading volume this year tumbled the most since the 2008 global financial crisis.

Pimco’s Seksaria Fired After CME Fine Tied to Trading

By Mary Childs, Bloomberg

Rahul Seksaria, a money manager at Pacific Investment Management Co. running inflation-protection strategies, was dismissed after CME Group Inc. fined him for improper trades that resulted in the transfer of client money to his personal account.

Seksaria in April 2012 placed trades that improperly sent $2,675 of client funds into his personal account, CME, operator of the world’s biggest futures market, said on its website. CME this month barred him from using its markets until after March 19 and ordered Seksaria to repay the $2,675 as well as a fine of $65,000.

Whistle-Blower Awards Lure Wrongdoers Looking to Score

By Steven Davidoff Solomon, NY Times

There is the lottery and then there is being a corporate whistle-blower. It seems both pay out a jackpot, but the latter is a quicker path to riches, even when the recipient turns out to be a wrongdoer as well.

Traders Enjoy Best Year Since 2008 as Swings Return: Currencies

By Lukanyo Mnyanda, Bloomberg

Currency traders will be starting 2015 on their hottest winning streak in a decade. An index of foreign-exchange returns has risen for the past six months, the longest stretch since 2005 and turning this year into the best since 2008. That marks a comeback for traders who, as recently as September, were facing a fourth year of losses as record-low volatility limited opportunities to make money.

Oil falls below $56, heads for biggest annual drop since 2008

By Alex Lawler, Reuters

Oil dropped below $56 a barrel on Wednesday and was heading for its biggest annual decline since 2008, pressured by weakening demand and a supply glut prompted by the U.S. shale boom and OPEC’s refusal to cut output.

Louis Dreyfus Commodities Says Mayo Schmidt Won’t Take Over as CEO; Follows Disagreement Over Terms of Employment

By Neena Rai, WSJ

Agricultural trading giant Louis Dreyfus Commodities BV said Wednesday that Mayo Schmidt won’t take over as chief executive as planned after a disagreement over terms and conditions of his employment.

Moscow moves to prop up Gazprombank

Kathrin Hille in Moscow, FT

The Russian government has spent almost Rbs40bn ($683m) to prop up state-owned Gazprombank, the country’s third-largest lender, as Moscow tries to stabilise the banking sector battered by the jitters of the rouble and the country’s tanking economy.


BP probes in-house foreign exchange traders

Martin Arnold in London, FT

BP is investigating whether in-house financial traders at the oil and gas group were involved in a foreign exchange manipulation scandal that has led regulators to levy $4.3bn in fines on six banks.

Stress testing should not just be for the banks

The oil price has crashed and there is mounting turbulence in Russia. Critics of financial regulators cite both as proof that the world is behind the curve again when it comes to monitoring financial stability. December’s UK stress test of the country’s top banks was tough on some standard economic metrics: house prices, interest rates, gross domestic product, unemployment. But the Bank of England did not factor in the two big issues of concern to the market today.

Fed Downplays Worries About Leveraged ETFs

MoneyBeat – WSJ

Concerns that leveraged exchange-traded funds could fuel undue market volatility are misplaced because they ignore the offsetting effects from capital flows on the need for the funds to adjust to the benchmarks they track, according to two Federal Reserve Board economists.

European Commission – A Single Rulebook For The Resolution Of Failing Banks Will Apply In The EU As Of 1 January 2015


A single rulebook for the resolution of banks and large investment firms in all EU Member States is set to enter into force as of 1 January 2015. The new rules will harmonise and improve the tools for dealing with bank crises across the EU. They will also ensure shareholders and creditors of the banks pay their share of the costs through a “bail-in” mechanism.

Self-Regulatory Organization (SRO) Rulemaking and National Market System (NMS) Plans


ICC: Notice of Filing of Proposed Rule Change to Revise ICC End-of-Day Price Discovery Policies and Procedures (Release No. 34-73951; File No. SR-ICC-2014-23; December 29, 2014)

NASDAQ: Order Approving a Proposed Rule Change to Amend NASDAQ Rule 7015(d) to Include the IPO Indicator As a New Enhancement to the NASDAQ Workstation (Release No. 34-73950; File No. SR-NASDAQ-2014-100; December 29, 2014)

NASDAQ: Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Modify NASDAQ Rule 7018 Fees (Release No. 34-73948; File No. SR-NASDAQ-2014-124; December 29, 2014); see also Exhibit 5

NYSE Arca: Notice of Filing and Immediate Effectiveness of Proposed Rule Change Amending NYSE Arca Equities Rules 7.32 in Order to Increase the Maximum Order Entry Size to Five Million Shares (Release No. 34-73952; File No. SR-NYSEArca-2014-146; December 29, 2014)

SEC Announces Program to Facilitate Analysis of Corporate Financial Data


The Securities and Exchange Commission today announced the launch of a pilot program to facilitate investor analysis and comparisons of public company financial statement data.

CFTC hints at new pragmatic approach to substituted compliance

Exemptive pathways and substituted compliance are core concerns for CFTC commissioner Mark Wetjen. He tells that in many cases the commission is looking to take a common sense approach to enforcing its regulations, rather than insisting on the letter of the law

Exchanges & Trading Facilities

Discontinuation Of OneChicago Markets On CBOEdirect


As a reminder, OneChicago, LLC will be transitioning its CBOEdirect-hosted markets to the OCXdelta1 platform effective January 23, 2015. The last trading day on the OneChicago instance of CBOEdirect will January 22, 2015.

CME Group Celebrates the New Year with Confetti Drop on Trading Floor

CME Group

SLI Swiss Leader Index® futures: Introduction of a Market-Making scheme


The Management Board of Eurex Deutschland and the Executive Board of Eurex Zürich AG decided to introduce a Market-Making scheme for SLI Swiss Leader Index® Futures from 1 January 2015 until 31 December 2015.

RPT-ICE gets tough on ‘disruptive trading’ practices


Intercontinental Exchange Inc will prohibit disruptive trading practices in its futures marketplace, as it looks to tackle an illegal manipulative trading strategy known as “spoofing”.

Direct Edge Trading Notice #14-65: BATS/Direct Edge Updated Contact Information Effective January 12, 2015


Effective Monday, January 12, 2015, upon completion of the Direct Edge integration to BATS technology, the following contact information will be updated.

Hedge Funds & Managed Futures

Highs and Lows for Citadel’s Ken Griffin in 2014

By Rob Copeland, Wall Street Journal

If all business is personal, it has been a year of extremes for Citadel LLC founder Ken Griffin. On one hand, his pending divorce from his wife of 11 years has attracted what few hedge-fund managers seek: Gossip column-level news coverage. Attorneys for Anne Dias Griffin asked for “potentially…billions of dollars” in the divorce, rather than the 1% of Mr. Griffin’s assets she is allegedly entitled to under a pre-nuptual agreement.

Ken Griffin, Illinois’ richest man, buys Gold Coast condo for $13.3 million

Chicago Tribune

Illinois’ richest man has acquired yet another high-priced condo. Billionaire Ken Griffin, the founder and chief executive of Chicago-based hedge fund Citadel who currently is going through a nasty divorce, recently paid $13.3 million for a 37th-floor, full-floor condominium unit in the Waldorf Astoria building on the Gold Coast.

U.S. Mint Gold-Coin Sales Head for Biggest Drop Since 2006

By Debarati Roy, Bloomberg

Gold’s lackluster performance is turning off coin buyers, with sales at the U.S. Mint heading for the biggest annual drop in eight years. Purchases of American Eagle gold coins reached 524,500 ounces in 2014, down 39 percent from 856,500 ounces in 2013. In December, sales fell almost 70 percent from a year earlier.

Debt Investors Looking to Profit From Oil Collapse; Airlines, Construction Firms Among Companies That Could See Uptick in Sales

By Mike Cherney, WSJ

The collapse of oil prices is uncovering a well of opportunities for corporate-bond investors looking ahead after a year of healthy returns and record-high debt sales.

CBOE SKEW Index – Highest Levels in 2014 Show Demand for Downside Protection with SPX Puts

By Matt Moran, CBOE

In 2014 the CBOE SKEW Index (ticker: SKEW) is poised to set an all-time record for its highest average daily closing value in a year, as its average daily closing value is 129.7 in 2014 (through December 29).

Commodities Head for Record Losing Run on Oil to Dollar


Commodities headed for the biggest annual loss since the global financial crisis in 2008, retreating for a record fourth year, as a global glut spurred a rout in oil prices and a stronger dollar cut the allure of raw materials.

Lessons From a Year of Market Surprises; Reviewing the Year in Markets

By Jason Zweig

It was the year that wasn’t—and another lesson in the limits of market forecasts.

Banks & Brokers

Corbat’s Quest for Boring Clashes With Citigroup Trading Push

By Dakin Campbell, Bloomberg

Michael Corbat settled into an armchair at Citigroup Inc. (C)’s Park Avenue headquarters in January and shared his strategy to make the bank boring. The past 11 months have seen him expand in businesses that are far from it.

Goldman Pay Is Flat for Top U.K. Staff

By Saabira Chaudhuri, WSJ

Goldman Sachs Group Inc. ‘s top U.K. employees were paid an average of $4.7 million in 2013, flat with the year before, according to data released by the investment bank on Tuesday.

Clearing & Settlement

Clearing House Administrative Summer Internship

CME Group

Responsibilities: Route incoming calls via multi-line phone system Perform general administrative duties such as maintain floor area, keeping it clean and free from clutter Assist with meeting setup: procuring rooms, preparing materials, providing refreshments Responsible for executive file system including: maintaining its organization, its database and convert physical files to electronic file system Organize and update executive contact database Order office supplies and monitor inventory Post clearing advisories to web Act as delegate for expense reporting Distribute incoming mail Candidate will assist with other projects as assigned Qualifications: Must be currently enrolled in school, pursuing a bachelor’s degree Ability to work in a professional environment; prior office experience preferred Available to work at least 20 hours per week Possess an eagerness to learn and a willingness to perform repetitive tasks Must have strong communication skills both written and verbal Must demonstrate excellent teamwork skills Proficient with MS Office Suite Must be detailed oriented and a demonstrated fast learner

Indexes & Products

Fortunes Diverge for U.K. and Its Stocks; Even as Economy Picks Up, Commodity-Heavy Share Market Has Declined This Year

By Tommy Stubbington, WSJ

The U.K. economy is picking up, but the country’s stock market isn’t. Amid all of Europe’s struggles in 2014, the region’s worst-performing major market index is London’s flagship FTSE 100, which has fallen 3%. Even Italy, whose economy is set to contract in 2014 for the third year running, has mustered a small gain.


‘Smart’ ETFs collect assets, but not winning records

By Jessica Toonkel, Reuters

The fastest-growing segment of the exchange-traded fund market, so-called “smart beta” funds, are sold as index funds but are actively – sometimes frenetically – traded portfolios that can whipsaw investors and often fail to deliver the outsized returns their issuers promote.

5 Sensible Predictions About the Economy and Financial Markets for 2015

Wall St. Cheat Sheet

People are bad at making accurate predictions. Alan Greenspan, former chairman of the Federal Reserve, once said, “We really can’t forecast all that well, and yet we pretend that we can, but we really can’t.” Perhaps we enjoy predictions because they help provide a sense of control over the future. However, the typical predictions we see in headlines, especially toward the end of the year, are often wrong since nobody truly knows what tomorrow will bring.

***DA: Number 1 prediction: Technology fuels portfolios.

Tech and Communication Services: Gravitate Toward the Moats


With these sectors trading above our fair value estimate, investors should seek firms with established economic moats to help them withstand near-term revenue and operating margin volatility. Plus, get our take on Apple Pay’s impact and the ongoing wireless spectrum auction.


FINRA Sanctions Monex Securities Inc. $1.3 Million for Failing to Register and Supervise Foreign Personnel


Firm’s President Fined and Suspended

The Financial Industry Regulatory Authority (FINRA) announced today that it has ordered Monex Securities Inc. to pay $1,100,000 in disgorgement of commissions, plus interest, obtained by unregistered foreign individuals who sold securities on the firm’s behalf. FINRA also fined Monex $175,000 for failing to register the foreign representatives and for related supervisory deficiencies over a period of two and a half years. Additionally, Monex’s President and Chief Compliance Officer, Jorge Martin Ramos Landero (Ramos), was suspended from acting in a principal capacity for 45 days and fined $15,000.

Federal Court Orders North Carolina Resident Edwin A. Vasquez and His Company, Vasquez Global Investments, LLC, to Pay over $1.3 Million for Commodity Pool Fraud


The U.S. Commodity Futures Trading Commission (CFTC) today announced that Judge Martin Reidinger of the U.S. District Court for the Western District of North Carolina entered an Order of Default Judgment against Defendants Edwin A. Vasquez of Arden, North Carolina, and his company, Vasquez Global Investments, LLC (VGI), for defrauding participants in a commodity pool commonly known as the Vasquez pool.

FCA Warnings: Wade and Wiley Consultancy; Stanley Hudson; Simon Gray & Associates

Financial Conduct Authority

We believe these firms have been providing financial services or products in the UK without our authorisation. Find out why to be especially wary of dealing with this unauthorised firm and how to protect yourself from scammers.

Almost all firms and individuals offering, promoting or selling financial services or products in the UK have to be authorised by us.



On December 30, 2014, NFA issued a Complaint charging FX Evolve and Hoerr with failing to observe high standards of commercial honor and just and equitable principles of trade and failing to supervise. The Complaint also charged FX Evolve with doing business with non-NFA Members that were required to be registered and failing to implement an adequate AML program.



On December 30, 2014, NFA issued a Complaint charging EdgeValencia, Edge and Valencia with failing to observe high standards of commercial honor and just and equitable principles of trade. The Complaint also charged EdgeValencia, Edge and Valencia with using misleading and deceptive promotional material. Finally, the Complaint charged Edge and Valencia with failing to diligently supervise EdgeValencia’s operations.

Environmental & Energy

Cutting carbon emissions: Morale highground

The Economist

Going green doesn’t have to be a slog. In a post sponsored by Terrapass, a company that sells carbon offsets, Sarah Lozanova outlines eight ways for companies to reduce carbon emissions associated with business travel. Terrapass would no doubt encourage your firm to buy carbon offsets (which Gulliver has covered sceptically in the past), but there are plenty of other ways to cut the environmental impact of your travel—and what stood out to me most about Ms Lozanova’s suggestions was how many of them could also help improve employee morale

Norwegians Turn Ambivalent on Statoil, Their Economic Bedrock

It is not just the vicissitudes of oil markets and exploratory wells that are causing difficulties for Statoil. In an era of climate change, the company — and by extension Norway’s entire oil and gas industry, which accounts for nearly a quarter of the country’s gross domestic product and contributes to greenhouse gas emissions worldwide — is coming under increasing pressure from within its own borders.

Palm Oil Output Seen Slumping 20% After Malaysian Floods

By Ranjeetha Pakiam, Bloomberg

Palm oil output in Malaysia will decline this month and next as severe flooding disrupts harvesting in the largest exporter after Indonesia, exacerbating a seasonal drop in production, according to RHB Investment Bank Bhd.

China imposes record fines on corporate polluters

Patti Waldmeir in Shanghai, FT

Environmental groups fighting pollution in China got a big boost when a court imposed the country’s biggest environmental fine from public interest litigation against a corporate polluter.


Seeking to Ride on China’s Stock Market Highs


Kuang Qingming, a banker in Beijing, made a snap investment decision this fall. With China’s once-booming property market drifting into the doldrums, Mr. Kuang sold an apartment he bought seven years ago for 400,000 renminbi, or roughly $65,000, basically breaking even on the investment. He then plowed half the proceeds straight into the stock market.

Report on Initial Public Offering Applications, Delisting and Suspensions (As at 31 December 2014)


HKFE Announces Revised Margins for China Life Insurance Futures Contracts


Japan Exchange Group Trading Overview In Year 2014 & December 2014


Japan Exchange Group released Trading Overview in 2014 & December 2013.

Cash Equity Market

-Trading volume for 1st Section domestic stocks (excluding preferred stocks) was 612.74380 billion shares, the second-highest level in the history of the market. Trading value was JPY 576.4020 trillion, the fourth highest on record after 2007, 2006, and 2013.

-Trading value for domestic ETFs in 2014 was 5.69 billion units (daily average: 23.33 million units) and trading value was JPY 32.9 trillion (daily average: JPY 134.9 billion), both new all-time records.

Frontier Markets

Who did buy Bourse Africa?; CAHL, which FTIL said had agreed to pay $40 million, is six months old, with share capital of 1,000 Mauritian rupees; FTIL says deal followed transparent bidding

N Sundaresha Subramanian, Business Standard

Continental Africa Holdings (CAHL), which apparently agreed to buy Financial Technologies India’s (FTIL’s) Mauritius-based Bourse Africa (BAL) exchange for $40 million (Rs 250 crore), does not seem to have the resources to pay, according to its corporate filings in Mauritius.

BSE hits record high currency derivatives turnover

Economic Times

Currency derivatives turnover on leading stock exchange BSE today hit record high of Rs 11,634.42 crore, surpassing rival bourse NSE’s turnover for the session.

Argentina’s banking talent stays away

By Benedict Mander and John Paul Rathbone, FT

When President Cristina Fernández explained her refusal to hire an investment bank to execute a complex but ultimately unsuccessful $10bn local debt deal this month, she described bankers as commission-hungry swindlers who inflict “permanent anguish” on Argentines.

Securities and Exchange Board of India Notices

PR – Order in the matter of GDR issue of Cals Refineries Ltd.

Order in the matter of acquisition of shares of Saurashtra Cements Limited

PR – Order in the matter of M/s Suraksha Agrotech Industries Limited

Certificate No.: 482 of 2014 – Attachment of Bank and Demat Accounts – Dilip Singh Rathore

Order in respect of Directors, Promoters and other entities in the matter of GDR issue of Cals Refineries Ltd.

PR – Exit order in respect of Ludhiana Stock Exchange Ltd

PR – Order in the matter of M/s Karmbhoomi Real Estate Limited and its Directors

Notice of attachment of Demat Account. AP nos. 1757 of 2014 & 1758 of 2014 in the case of MPS Greenery Developers Limited

PR – Order in the matter of M/s Ecogreen Real Estate India Limited, its Promoters and Directors

Future Retail Limited

RBI revises reporting format for foreign banks’ representative offices

Business Standard

The revised format of reporting will be effective from next reporting cycle

UAE’s Securities And Commodities Authority Statement On Short-Selling


In response to the short-selling practices circulated in some news media reports over the past few days, which have negatively affected the performance of the stock market index, the Securities and Commodities Authority (SCA) issued the following statement:


MSNBC chief eyes changes to fix ratings

By Richard Morgan, NY Post

MSNBC president Phil Griffin, whose cable news network is the only one among the big three to lose primetime viewers this season, told staffers he would look to turn things around by continuing a push for younger viewers in 2015.

Harold Hamm Fights Divorce Settlement; Oil Billionaire Contends Paying Nearly $1 Billion Is Too Much

By Erin Ailworth

Oil billionaire Harold Hamm is contesting his November divorce settlement, saying an Oklahoma judge’s order to pay his ex-wife nearly $1 billion is too rich.

Saudi King Abdullah taken to hospital for tests


Saudi Arabia’s elderly King Abdullah bin Abdulaziz was admitted to a hospital in Riyadh on Wednesday for medical tests, state media have reported, citing a royal court statement.

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