First Read

Scouts Reach Their Goal
John J. Lothian
Thank you to those who have contributed to the fundraising for three of my scouts to help pay for their trip to the World Jamboree in Japan later this year. The generosity of the readers of this newsletter is incredible; it never ceases to amaze me.

With your help, I made good on my pledge to raise the boys $15,000, or $5000 each, to help defray the cost of attending the jamboree. You don’t know what a difference this type of experience can make in a young person’s life.

Yesterday I also received word my troop would be getting 4 new scouts, Webelos crossing over from a Pack we had not had success recruiting from since 2009. It was a good day in my scouting life and my professional life yesterday and I am very thankful. We also have one scout from my home Pack that joined us, so we have the makings of a new scout patrol.

Besides helping these boys, you have helped me with my daughter. Katherine now has three outstanding young men from her hometown to help keep an eye on her for me while she is in Japan. And she can help me keep an eye on them. I am sure they will all have a great experience.

Thank you again to all who helped me reach my goal to help the boys. They are very pleased with their Scoutmaster.

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Battle Brews Over Bids for Broker GFI Group; Mickey Gooch Has Plans for His Firm. So Does Rival Howard Lutnick and BGC Partners.
By Liz Hoffman, Katy Burne And Telis Demos, WSJ
A takeover fight between hard-charging rivals over a broker to Wall Street’s biggest banks is coming to a head, a showdown that has split the firm’s board amid dueling claims about management conflicts and the hostile bidder’s motivations.
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***DA: Today is the big day. We will keep you posted.

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Nasdaq head Bob Greifeld questions SEC market panel
Philip Stafford, FT
The head of Nasdaq, the US exchanges operator, has questioned the composition of a new panel to advise regulators on reform of US equity markets for omitting exchanges with corporate listings.
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***DA: What do exchanges know about market structure aside from, well, everything?

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Money manager faces up to 20 years in prison for massive fraud
By Jason Meisner, Chicago Tribune
The onetime leader of a well-connected Northbrook money management firm is scheduled to be sentenced Friday for defrauding clients of more than $665 million in what prosecutors believe is the largest fraud case ever brought in federal court in Chicago. Prosecutors are asking for at least 20 years in prison for Eric Bloom, 49, who was convicted by a jury last March on 18 counts of wire fraud and one count of investment adviser fraud stemming from the spectacular collapse of Sentinel Management Group Inc. in 2007.
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**JK – Welcome back to the futures industry Chicago Tribune. It only took the largest fraud case in Chicago history.

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Icap Traiana’s strategy head Solinger departs
Futures & Options World
Nick Solinger, global head of product strategy and chief marketing officer at Icap-owned system provider Traiana has left the business. Solinger, who was one of Traiana’s top managers, left the Icap subsidiary this week, according to sources.
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***** Best of luck to Nick.

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Ken Griffin asks court to set trial date for divorce
By Shia Kapos, Crain’s Chicago Business
Billionaire asked a judge today to set a trial date for his divorce from has yet to rule on whether the prenup will govern the terms of the divorce, and that’s what today’s filing is asking the court to resolve. That agreement called for Dias Griffin to receive $25 million on signing and cash payments of $1 million a year for each year they were married.
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***DA: Signing bonus, annual salary and an annuity upon retirement. Sounds more like a shortstop than a spouse.

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Almost half of US households exhaust their salaries
Piotr Powietrzynski, Chicago Tribune
The Federal Reserve has declared economic growth “solid.” But several new reports show most Americans are treading along a dangerous financial tightrope, where one slip could be devastating. Nearly half of U.S. households — 47 percent — say they spend all of their income, go into debt or dip into savings to meet their annual expenses, according to an analysis of Fed survey data released Thursday by the Pew Charitable Trusts.
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***** Better to exhaust them than to smoke them.

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Super Bowl brands find a digital playbook
Shannon Bond in New York and Hannah Kuchler in San Francisco, FT
Since the Super Bowls of the first dotcom boom, advertisers have competed to turn the highlight of the American football year into a testing ground for the edgiest digital stunts.
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***** The unnamed big game event is the cutting edge of cool digital tricks. Pay attention.

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US spectrum auction raises record $44.9bn
David Crow in New York, FT
US wireless groups have snapped up $44.9bn of airwaves following a record-breaking auction of government-owned spectrum that underlines the explosion in demand for mobile video and data.
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***** I also here the government will start to sell rainbows.

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MarketsWiki

MarketsWiki Page of the Day
J. Christopher Giancarlo

MarketsWiki Recent Updates

People

J. Christopher Giancarlo; John Rogers; Jeffrey M. Bandman; Christopher Ehrman; Aitan Goelman; Thomas Bendixen

Companies, Organizations and Groups

NYSE Group; London Metal Exchange

Products

AgriCharts

Statistics

57,966,926 pages viewed, 8,143 articles, 189,145 edits
MarketsWiki Statistics

Lead Stories

Penny Stock Pawnbroker Had a Clever Trick to Get Paid
By Matt Levine
A sign of a good scam is that it’s hard to tell who’s being scammed. So here is a charming little story about International Capital Group, which agreed to pay $4.3 million to the Securities and Exchange Commission to settle charges of penny-stock misbehavior. ICG basically ran a pawn shop for penny stocks. Lots of founders/promoters/chief executive officers of tiny public companies own lots of stock in their companies, and not much else. And some of them would like to turn that stock into money.
jlne.ws/1DesZSs

FXCM Adopts Shareholder Plan to Block Unwanted Takeovers
by Zeke Faux, Bloomberg
FXCM Inc., the currency brokerage that almost failed because of trading losses, adopted a stockholder rights plan making it harder for anyone to take control of the company.
jlne.ws/1CT5uRd

NYSE to Launch a New Trading Platform Dubbed Pillar
Anthony Malakian, Waters Technology
NYSE Group, a wholly-owned subsidiary of the IntercontinentalExchange (ICE), announced a new trading technology platform named Pillar, which is expected to start rolling out to its various markets in the second half of 2015.
jlne.ws/1Hra5hK

Cheap Oil Burns $390 Billion Hole in Investors’ Pockets
by Asjylyn Loder,Elizabeth Dexheimer, Bloomberg
Investors have a message for suffering U.S. oil drillers: We feel your pain.
jlne.ws/1ye6oSQ

European investment fund set for September start
By John O’Donnell, Reuters
A fund to bolster investment in Europe should be up and running by September, an EU official said on Friday, outlining the timetable for a highly leveraged scheme to bolster growth in a moribund EU economy.
jlne.ws/1ye5Zjf

Canada plans to copy US swap trading regime
Futures & Options World
The Canadian Securities Administrators (CSA) looks set to emulate the US Swap Execution Facilities (Sefs) after it outlined a proposed regulatory framework for over-the-counter-trading (OTC) facilities. The proposals were published on Thursday in a consultation paper outlining the framework for Derivative Trading Venues (DTFs).
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Swiss Central Bank’s Foreign-Exchange Reserves Soar in 2014; Increase Raises Questions Over How the SNB Will Manage Reserves After Scrapping of Swiss Franc Cap
By Neil MacLucas, WSJ
The Swiss National Bank said Friday its foreign currency holdings rose 8% to top 500 billion Swiss francs ($539 billion) as 2014 drew to a close, raising questions about how the central bank will manage its considerable reserves after scrapping its cap on the value of the Swiss franc.
jlne.ws/1Eu1vMK

Russia startles markets with interest rate cut
Courtney Weaver in Moscow and Elaine Moore in London, FT
Russia’s central bank unexpectedly slashed its key interest rate from 17 per cent to 15 per cent on Friday, sending the rouble plummeting, as it struggles to balance the threat of a recession with surging inflation
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Bets Fuel an Annual Record for U.S. Futures Exchanges
By Annabelle Ju, Bloomberg
It was another good year to be a futures exchange in the U.S. Trading of futures linked to everything from interest rates to stocks and commodities topped 3.1 billion contracts in 2014, breaking a record set the prior year, according to Tabb Group LLC. The research firm forecasts another all-time high in 2015. The end of Federal Reserve efforts to stimulate the economy is fueling demand for futures enabling bets on the direction of interest rates. Tabb recorded a more than 16 percent surge in rates trading in 2014, beating the overall growth rate of 3.7 percent. The record in futures contrasts with U.S. stocks, where trading has dwindled in recent years.
(No Link)

Q&A: BATS president sees huge opportunity in foreign exchange market
James Dornbrook, Kansas City Business Journal
BATS Global Markets’ announcement that it would acquire Hotspot FX for $365 million showed just how badly it wanted to become a major player in the foreign exchange market.
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Regulatory

EU rule could delay trading by 60 seconds
Futures & Options World
The European Securities and Markets Authority could delay trade execution on European derivatives exchanges by up to 60 seconds as a result of proposals contained in the latest draft of Mifid II. The proposals outlined in RTS 37 of Mifid II require pre-trade credit risk checks for every trade to ensure certainty of clearing.
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Exclusive: EU watchdogs could hold sway over London in Europe markets union – document
By Huw Jones, Reuters
Proposals to create a U.S.-style capital market across Europe to increase companies’ financing options could give European regulators more powers at the expense of the City of London, a European Union document showed.
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Britain’s FCA Considers Imposing Cut-Off Date for PPI Complaints
by Ambereen Choudhury, Richard Partington, Bloomberg
The U.K. financial markets regulator is considering whether to impose a cut-off date for customer complaints regarding wrongly sold insurance products that cost Britain’s biggest banks billions of pounds.
jlne.ws/1CjbzXZ

Priorities revealed for EU capital markets union
Philip Stafford in London and Alex Barker in Brussels, FT
Pan-European pension products, cross-border crowdfunding schemes and perks for infrastructure investment have emerged as some of Brussels’ early priorities for a capital markets union, according to a leaked discussion paper.
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B-Ds Optimistic Finra Will Change Its Stance On CARDS
Dan Jamieson, Financial Advisor
Independent broker-dealers may be making some headway with the FInancial Industry Regulatory Authority in getting the regulator to modify its controversial Comprehensive Automated Risk Data System proposal.
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Jury rules against fired Finra arbitrator in Florida who claimed bias
By Jonathan Stempel, Reuters
A federal jury in Florida has found that the Financial Industry Regulatory Authority did not illegally fire a securities arbitration official in retaliation for her complaints about alleged discrimination and misconduct in the workplace.
jlne.ws/1CGMvZK

GFI derby heading to homestretch
By Jaime Toplin, Futures Magazine
With the shareholder vote pushed to Friday, the bidding war for the acquisition of GFI Group Inc., between CME Group and BGC Partners has intensified with sharp criticisms and accusations of corporate mismanagement.
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Self-Regulatory Organization (SRO) Rulemaking and National Market System (NMS) Plans
BATS: Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Amend Chapter IX of its Rulebook to Incorporate Certain Rules of NASDAQ and FINRA Relating to Arbitration and Mediation (Release No. 34-74160; File No. SR-BATS-2015-05; January 28, 2015)
BYX: Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Amend Chapter IX of its Rulebook to Incorporate Certain Rules of NASDAQ and FINRA Relating to Arbitration and Mediation (Release No. 34-74164; File No. SR-BYX-2015-04; January 28, 2015)
CBOE: Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Adopt a Box Spread Strategy Rebate for Users of the Exchange’s Customized Options Pricing Service (Release No. 34-74159; File No. SR-CBOE-2015-007; January 28, 2015); see also Exhibit 5
EDGA: Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Make Non-Substantive Amendments and Clarifications to the Fee Schedule (Release No. 34-74166; File No. SR-EDGA-2015-04; January 28, 2015); see also Exhibit 5
EDGX: Notice of Filing and Immediate Effectiveness of a Proposed Rule Change to Make Non-Substantive Amendments and Clarifications to the Fee Schedule (Release No. 34-74165; File No. SR-EDGX-2015-04; January 28, 2015); see also Exhibit 5
Phlx: Order Instituting Proceedings to Determine Whether to Approve or Disapprove a Proposed Rule Change to Adopt New Exchange Rule 1081, Solicitation Mechanism, to Introduce a New Electronic Solicitation Mechanism (Release No. 34-74167; File No. SR-Phlx-2014-66; January 28, 2015)
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Robert E. Rice, Chief Counsel to SEC Chair, to Leave SEC
SEC
The Securities and Exchange Commission today announced that Robert E. Rice, Chief Counsel to Chair Mary Jo White, will leave the agency at the end of February.
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U. K. Regulator Reviews Compensation of Mis-Sold Payment Protection Insurance; Regulator May Consider Time Limit on Complaints
By Max Colchester
A U.K. regulator Friday said it is reviewing how customers who were wrongfully sold payment protection insurance are compensated by banks, a move that could see a time limit imposed on the lenders’ vast repayments to consumers.
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Exchanges & Trading Facilities

NYSE Upgrades Its Technology Guts
by Sam Mamudi, Bloomberg
The New York Stock Exchange and its siblings are poised to get a new engine.
jlne.ws/1BDvIoT

GFI derby heading to homestretch
By Jaime Toplin, Futures Magazine
With the shareholder vote pushed to Friday, the bidding war for the acquisition of GFI Group Inc., between CME Group and BGC Partners has intensified with sharp criticisms and accusations of corporate mismanagement.
jlne.ws/1ByDqxX

Euronext distinguishes capital market participants and calls for portuguese market to move forward
Euronext
The fourth edition of the Euronext Lisbon Awards, was held yesterday. During the event, the Lisbon Stock Exchange distinguished the issuers, financial intermediaries and other institutions, as well as the individuals who, in 2014, played an important role in the Portuguese capital market. The Minister of Economy, António Pires de Lima, closed the event which took place at Culturgest, and was heavily attended by issuers, brokers, investment banks, analysts, fund managers, law firms, academics, governmental entities, regulators and journalists, among other participants.
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Euronext looks to crowdfunding in SME push
By Anna Irrera, Financial News
Euronext is looking into whether crowdfunding platforms could help provide finance to companies that are too small to list on its markets, as it pushes ahead with efforts to support small and medium-sized enterprises.
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ASX Updated Guidance On Share Trading Policies And Debt Securities; Updated Guidance On Share Trading Policies And Debt
Mondovisione
ASX has today released an updated version of Listing Rules Guidance Note 27 Trading Policies. It addresses:
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BRIEF-CME raises margins for platinum
Reuters
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Hedge Funds & Managed Futures

Levine on Wall Street: Rubles and Swaps
By Matt Levine, Bloomberg
Huh, Russia. A lot of central banks have been trying to weaken their currencies recently, leading to intense and potentially lucrative speculation on who will be next and whether they will succeed. After the Swiss National Bank abandoned its franc cap, anything seems possible. Will the UAE abandon the dollar/dirham peg? Will Denmark be able to defend its euro peg by cutting rates? What about the Turkish lira? So many good options, you never know where the next cut will come from, but it’s safe to say that not too many people were expecting this:
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A Currency Bet Nearly as Certain as Cartel Profits
by Isabella Cota, Bloomberg
There’s a way to make a quick profit thanks to Mexico’s drug cartels. And it’s perfectly legal. It’s a currency trade, of all things, available every day inside Mexico City’s airport, where there’s a gap of about 3 percent between rates offered at dedicated exchange houses and local banks. Dollars bought cheaply from the currency dealers can be deposited at bank windows just a few feet away for a higher rate.
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Brevan Howard Hedge Fund Hit by Outflows as Macro Funds Suffer; Investors Pulled $4.2 billion From Flagship Fund in Seven Months to December
By Laurence Fletcher, WSJ
Investors pulled more than $4 billion from Brevan Howard ‘s flagship hedge fund in the seven months to December, as poor returns pushed the portfolio to its first ever calendar year loss.
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Former Hedge-Fund Managers Hit the Comeback Trail; Veteran Stock Pickers Michael Karsch, Adam Weiss Plan New Funds
By Juliet Chung, WSJ
It can be tough to start over in the hedge-fund world. The $2.8 trillion industry is strewed with tales of managers who, after shutting down large funds, relaunched only to limp along or close again. Undaunted, veteran stock pickers Michael Karsch and Adam Weiss plan to launch new funds less than two years after closing their old firms, according to Mr. Karsch and people familiar with Mr. Weiss’s plans.
jlne.ws/164hUJD

Currency Tumult Stokes Big Bets; Climbing Dollar Spurs Wave of Investor Wagers Looking to Profit From Upheaval
By Gregory Zuckerman, Laurence Fletcher And Chiara Albanese, WSJ
A surging dollar is pummeling currencies around the globe amid efforts to boost economic growth, prompting a wave of investor bets to profit from the upheaval.
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Ackman to invest in Clearfield Capital hedge fund – source
By Svea Herbst-Bayliss, Reuters
Hedge fund mogul William Ackman is ready to make a new bet, not on a stock this time but a startup hedge fund, Clearfield Capital Management.
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Banks & Brokers

FXCM Adopts Poison Pill With 10% Trigger; Foreign-Exchange Broker’s Shareholder Rights Plan Helps Prevent Hostile Takeover
By Lauren Pollock, WSJ
FXCM Inc. has adopted a shareholder rights plan with a 10% trigger, a move intended to reduce the chance of a hostile takeover attempt at a low valuation.
jlne.ws/1zdHUNJ

Mizuho Profit Unexpectedly Rises on Bond Trading Jump
by Monami YuiShingo Kawamoto, Bloomberg
Mizuho Financial Group Inc.’s third-quarter profit unexpectedly rose as a jump in bond trading income made up for shrinking loan profitability at home.
jlne.ws/1Eu2P2d

BofA Said to Cut Bonus Pool for Equities Traders Up to 10%
by Hugh Son, Bloomberg
Bank of America Corp. cut the bonus pool for equities traders and sales staff by as much as 10 percent as the division’s revenue declined last year, said three people with knowledge of the matter.
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CIBC Said to Cut About 500 Jobs to Boost Operating Efficiency
by Doug Alexander, Bloomberg
Canadian Imperial Bank of Commerce, the nation’s fifth-biggest lender, is cutting about 500 jobs companywide even as it plans to add positions throughout the year, according to a person briefed on the matter.
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Clearing & Settlement

Natixis Obtains Eurex’s CCP & Eurex OTC Clear Membership
Forex Magnates
The corporate subsidiary of Banque Populaire et Caisse d’Epargne (BPCE), Natixis, has become the newest member of Eurex Securities’ Lending Central Counterparty (CCP) and EurexOTC Clear.
jlne.ws/1ETJMvB

BNY Mellon and State Street embrace Eurex Clearing
Securities Lending Times
BNY Mellon and State Street are collaborating with Eurex Clearing on its securities lending central counterparty (CCP) service. The move intends to further enhance the Eurex Clearing service to meet the needs of beneficial owners, and to explore expanding reach in to the US, while also providing BNY Mellon and State Street clients access to the lending CCP service.
jlne.ws/1ETJRiJ

LedgerX seeks regulatory approval to run bitcoin exchange and clearing house
Automated Trader
LedgerX, New York, has filed with the US CFTC to operate a bitcoin options exchange and clearing house. If approved, LedgerX will become the first federally regulated bitcoin derivatives clearing house for institutional participants. There are only 14 clearing licenses that have been issued by the CFTC. This would be the first clearing license issued for digital currency derivatives.
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China’s Yuan Now World’s 5th Most Used Payment Currency, Beats Australian, Canadian Dollar
International Business Times
The Chinese currency yuan, otherwise known as renminbi (RMB), has zoomed to become one of the world’s most used payment currency, the Society for Worldwide Financial Telecommunications, or SWIFT, said in a statement on Wednesday. In November 2014, it became the 5th global most used payment currency, beating the Canadian and Australian dollar. It won’t be long before it overtakes the U.S. dollar.
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Indexes & Products

VIX Calls Most Shunned Since 2012 as Volatility Ignored
by Callie BostMichelle Davis, Bloomberg
Even with stock swings nearly doubling since 2014 and U.S. equities poised for their worst month in a year, traders aren’t signaling too much concern.
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Traditional Equal Weighting May Not Be as Diversified as You Think
ETF Trends
The core belief that we have held at PowerShares since we were founded back in 2002, and continue to hold today, is that funds tracking market-capitalization-weighted indexes may not represent the optimal investment strategy. Why?
jlne.ws/1Eu4owW

Bourses aim to enlarge index business pie; This and data business to emerge as key areas of development, say officials, as bull market takes wing
Sneha Padiyath, Business Standard
The country’s two major bourses, BSE and the National Stock Exchange (NSE), are betting big on the index development business, currently only a small portion of their overall revenue.
jlne.ws/1ERvmMy

ChinaA MC Licenses MSCI China A Index for New China A Shares ETF
MarketWatch
MSCI Inc. MSCI, +1.13% a leading provider of investment decision support tools worldwide, has licensed the MSCI China A Index to China Asset Management Co., Limited (ChinaAMC) for a new ETF, the ChinaAMC MSCI China A ETF, to be listed on the Shanghai Stock Exchange in March. With over USD 50 billion in assets under management1, ChinaAMC is one of the largest asset managers in Mainland China, and launched the first ever ETF there in 2005. http://jlne.ws/1Eu3ZKY

MSCI Names Three New Independent Directors
Herald Online
MSCI Inc. announced that it has agreed to appoint three new independent directors, Wayne Edmunds, D. Robert Hale, and Wendy E. Lane to the company’s Board of Directors, effective March 10, 2015. With these additions, MSCI’s Board will increase from nine to twelve directors, eleven of whom are independent.
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New Indexed Annuities Grab Market Share as Banks Jump In
Bloomberg Business
Buyers of U.S. annuities are clamoring for new products linked to indexes that may use elaborate strategies to control risk, attracting regulatory scrutiny as they widen a market that favors more traditional structures.
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FTSEurofirst 300 index heads for best month in three years
Reuters
The pan-European FTSEurofirst 300 index edged higher on Friday and headed for its best monthly performance in three years, with positive German retail sales data improving sentiment and helping the benchmark DAX index.
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Technology

Green Key’s Voice Network Rapidly Expanding, Free for Traders
PR Newswire
Green Key Technologies, provider of voice software designed specifically for traders, announced today that their “Virtual Turret” will remain free for traders to download. The software enables a trader to search a directory of brokers and instantly establish a voice connection, similar to Skype, but made for the financial markets. The secure connections are encrypted and conversations can be recorded and made available to compliance officers.
jlne.ws/1BA9Jzc

Quantitative Brokers and RiskVal to Deliver Advanced Fixed Income Trading Platform
PR Newswire
Quantitative Brokers (“QB”), the world’s leading provider of agency algorithms for fixed income and futures markets, announced today that it has partnered with RiskVal Financial Solutions, the industry standard provider of trading analytics and real-time risk management, to create a unified platform for advanced fixed income trading. The new platform combines powerful real-time analytics with seamless access to QB algorithms for best execution.
jlne.ws/1BAacl2

Google suffers shortfall in paid clicks
Richard Waters in San Francisco, FT
Google added to Wall Street’s concerns about a slowdown in its core desktop search business and eroding profit margins as it reported quarterly earnings that fell short of already downbeat forecasts.
jlne.ws/1KdYWNa

Apple Pay revives mobile wallet drive and triggers deals
Sarah Mishkin in San Francisco and James Fontanella-Khan in New York, FT
Bankers and technology executives are preparing for deals in the payments industry as Apple, Google, Amazon and traditional banks race to stay ahead of rivals in the fast-growing sector.
jlne.ws/1yKlIpm

Amazon profit offers relief to investors
Sarah Mishkin in San Francisco, FT
Sharp growth in Prime subscribers and strong performance in cloud computing helped Amazon return to profit in the fourth quarter, offering relief to investors frustrated by its recent quarterly losses.
jlne.ws/1CGMYLm

BMW Cars Found Vulnerable to Being Unlocked by Hackers
by Elisabeth Behrmann, Bloomberg
By tapping into a security flaw in a digital-service system, hackers could wirelessly open BMW, Mini and Rolls-Royce vehicles in minutes, according to a report by German auto club ADAC.
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The most fascinating era for the capital markets
Cinnober
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Enforcement

Saxo Told to Hand Franc-Trade Details to FSA Amid Complaints
by Frances Schwartzkopff, Bloomberg
Saxo Bank A/S has been ordered by the Danish financial regulator to provide a detailed report of its handling of franc trades on Jan. 15 amid client complaints that the broker treated them unfairly.
jlne.ws/1zm4gv7

SEC Charges Stock-Based Lender With Selling Billions of Penny Stock Shares as Unregistered Broker-Dealer
SEC
The Securities and Exchange Commission today charged a Chicago-area company that provides stock loans using equities as collateral, its two co-founders, and its former chief operating officer with selling more than nine billion shares of penny stocks through purported stock-based loans, block trades, and other transactions without registering with the SEC as a broker-dealer as required under the federal securities laws.
jlne.ws/1ye0eSO

ASIC enforcement report – July to December 2014
ASIC
ASIC today released its latest six-monthly enforcement report, detailing outcomes achieved between 1 July 2014 and 31 December 2014.
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Environmental & Energy

Mr. Obama’s trip to India leaves a clear deal on curbing emissions up in the air
The Washington Post (Editorial)
THE U.S.-India relationship has often seemed more attractive in theory than in practice. The world’s two largest democracies share concerns about Chinese expansionism; throw in big economic potential and an active Indian immigrant population in the United States, and success seems guaranteed. Yet both sides have often felt disappointed in the results.
jlne.ws/1yK2eBc

Offshore Wind Farm Leases Draw Few Bids From Wary Industry
By Diane Cardwell – The New York Times
Not too long ago, in 2013, the Obama administration began auctioning off leases for offshore wind farms up and down the Eastern Seaboard, hoping to spur a nascent industry.
jlne.ws/1ySSmtE

‘Blue Carbon Credits’ May Be New Way To Fund Coastal Restoration
By Laine Kaplan-Levenson – WWNO
A New Orleans organization is trying to help fund coastal restoration by quantifying Louisiana wetlands, using hard numbers as a way to offset global carbon emissions.
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The Way We Measure Snow Is Shockingly Low-Tech and Inaccurate
by Brian K Sullivan, Bloomberg
It’s almost a universal cliche that Grandpa will look out the window at a storm and sneer that the snow was deeper back in his day.
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Asia-Pacific

Report on Initial Public Offering Applications, Delisting and Suspensions (As at 30 January 2015)
HKEx
jlne.ws/1ETIT6h

SGX aids listed companies in governance disclosure
SGX
Singapore Exchange (SGX) has developed a disclosure guide for companies in complying with key aspects of governance and for investors in assessing information provided by companies.
jlne.ws/1ETIYGX

China: Overborrowed and overbuilt
Jamil Anderlini, FT
Its economy has become the world’s largest but a credit-fuelled construction binge threatens growth
The last time China was the world’s largest economy Beijing was a city of about 700,000 people, and its Wangjing district was nothing but a jumble of barren man-made hills built to protect the capital from barbarian invaders to the north. That was 1890. Today, Beijing’s population is more than 21m and Wangjing is an expanse of half-empty or half-built offices and residential towers inside the city’s fifth ring road.
jlne.ws/15OQDKC

Frontier Markets

Securities and Exchange Board of India
PR – Order in the matter of M/s. MPA Agro-Animals Projects Limited
Interim Order – Prayas Projects India Limited
PR – Order in the matter of M/s. Unique Vision Financial Advisory Pvt. Ltd.
jlne.ws/12kCz9E

BSE slashes fees in FX derivatives battle with NSE
By Rafael Nam and Abhishek Vishnoi, Reuters
India’s oldest stock market operator, BSE Ltd, is slashing fees to gain ground in new markets, turning currency derivatives into the latest battleground in its long-standing rivalry with the younger but larger National Stock Exchange.
jlne.ws/1zm6Gd5

Miscellaneous

FT readers help raise £1.9m for International Rescue Committee
By John Thornhill, FT
Financial Times readers have helped raise £1.9m for the International Rescue Committee, its Seasonal Appeal partner this year.
jlne.ws/1yTyqqo

My Fortune columns so far…
by Joshua M Brown
I’m having a blast in my new role as Fortune columnist so far, just as I suspected I would when I first got the gig (see: About my new column at Fortune magazine from last October).
jlne.ws/1A6ov2I

Court Weighs Pay for Interns
By Rachel Feintzeig, WSJ
Should interns be paid like employees, or is getting experience at a company compensation enough? A panel of three judges in New York appeals court will take on the question of unpaid internships on Friday, in hopes of setting a standard for when employers must pay interns, and when companies can hire unpaid labor or offer college credit.
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