Sources: Obama near decision on Afghanistan troops - Yahoo News
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Daily Brief News
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Wednesday, September 30, 2009
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Schumer: SEC Will Seek Flash Trading BanBy SARAH N. LYNCHWASHINGTON -- Sen. Charles Schumer (D., N.Y.) said Tuesday the head of the Securities and Exchange Commission has personally promised him she will seek to ban the practice of flash trading. Flash trading, which routes stock trades through private liquidity pools before being sent to other exchanges for filing, has come under fire from Sen. Schumer and other critics recently amid fears it places some market participants at a disadvantage. In a statement, Sen. Schumer said he spoke with SEC Chairman Mary Schapiro, who informed him of an imminent ban during a telephone call Monday. The ban will come as part of a broader look at dark pools -- electronic trading venues where money managers trade large blocks of shares anonymously -- and high-frequency trading, he said. Ms. Schapiro said Tuesday that she has instructed SEC staff to explore "an approach that can be quickly implemented to eliminate the inequity that results from flash orders." "Under the rule-making process, such a proposal to eliminate the ability to flash orders would need to be approved by the commission and be open to public comment," she said. Most major U.S. stock exchanges have adopted some form of a dark order type, although many have also said they would not protest if the SEC moves to curb some of these practices. Nasdaq OMX Group Inc. and BATS Exchange in June both implemented their own dark order types, but agree the practice does not contribute to market transparency.... |
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Stanford charged with fraud in USAsst Attorney General Lanny Breuer reads the charges against Stanford Texan billionaire Sir Allen Stanford has been charged in the US with fraud and obstruction. Announcing the indictment, the justice department said it related to a $7bn scheme to defraud investors. The 59-year-old turned himself in to the FBI in Virginia on Thursday after a warrant was issued for his arrest. He is to appear in court shortly. He already faces civil charges over an alleged fraud worth $8bn (£6bn) - charges he denies. 'Too good to be true' Sir Allen and six others are facing charges.
The justice department said the 50-page indictment accused Sir Allen and some of the other alleged co-conspirators of engaging in a scheme to defraud investors who purchased $7bn in certificates of deposit from Stanford International Bank, located in Antigua. It said they "promised returns that were too good to be true"... |
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By Howard Schneider
JERUSALEM, June 14 -- Israeli Prime Minister Binyamin Netanyahu said Sunday that he is willing to support the creation of a Palestinian state, for the first time making a commitment that the United States, Europe and the Arab nations have urged on him since he took office. But in a prime-time address, he attached a weighty list of conditions dictated by his personal beliefs and by the need to satisfy his right-leaning coalition in the Israeli parliament: The Palestinian state would have to be demilitarized, with international guarantees that it remain so; it would have to cede control of its airspace to Israel; and it could be created only if the Palestinians recognize Israel as the Jewish homeland. President Obama welcomed Netanyahu's speech as an "important step forward" and in a statement endorsed both key Israeli and Palestinian concerns. "The President is committed to two states, a Jewish state of Israel and an independent Palestine, in the historic homeland of both peoples," the statement said. "He believes this solution can and must ensure both Israel's security and the fulfillment of the Palestinians' legitimate aspirations for a viable state, and he welcomes Prime Minister Netanyahu's endorsement of that goal." However, the prime minister's speech left major points of contention unresolved, including Obama's call in a speech in Cairo last week for a freeze on Jewish settlements in the occupied West Bank. Netanyahu did not commit to a freeze in his remarks, instead shifting the discussion to what he views as the core issue -- longstanding Arab rejection of the idea of a Jewish national home in "the land of our forefathers." "The root of the conflict was, and remains, the refusal to recognize the right of the Jewish people to a state of their own," he said in a speech that ranged from biblical history to the threat Israel perceives in Iran's development of nuclear technology. "A fundamental prerequisite for ending the conflict is a public, binding and unequivocal Palestinian recognition of Israel as the nation state of the Jewish people," Netanyahu told the audience at Bar-Ilan University near Tel Aviv... |
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