Some have recouped millions from risky type of debt that plagues CPS
In "Some have recouped millions from risky type of debt that plagues CPS", Heather Gillers reports on the success some municipal issuers have had in recovering losses suffered as a result of following investment banks advice to issue auction rate securities and simultaneously enter into interest rate swaps rather than issue fixed rate debt. Issuers like the Chicago Public School System suffered large losses when the ARS clearing rates rose relative to the floating rate leg of the swap contracts and the mark to market value of the swaps dropped dramatically. The article quotes Craig McCann about the defects of synthetically fixing rates suing this combination of ARS and derivatives.
Five Popular-but Dangerous-Investments for Individuals
Kirsten Grind's "Five Popular - but Dangerous - Investments for Individuals" discusses five retail investments, including non-traded REITs, leveraged and inverse ETFs and complex structured products, investors should avoid. The article quotes SLCG's Craig McCann.
'Learning' From Timothy Sykes
Dan Solin's "'Learning' From Timothy Sykes" explores how to do due diligence on the validity of Timothy Sykes trading methods and success claims. The article quotes Dr. O'Neal on what due diligence he would do on Sykes' method.
COMPLY-U.S. Regulator Intensifies Scrutiny of Fee-Based Accounts
Suzanne Barlyn's "COMPLY-U.S. Regulator Intensifies Scrutiny of Fee-Based Accounts" quotes Paul Meyer on the concerns of fee-based accounts and commission-based accounts.
Michael Piwowar Sworn in as SEC Commissioner
The U.S. Securities and Exchange Commission announced the swearing in of former SLCG Principal as a Commissioner nominated by President Obama replacing Commissioner Troy Paredes. Dr. Piwowar was an employee of SLCG after leaving the SEC's Office of Economic Analysis in 2006 until joining President Bush's Council of Economic Advisers in 2008.
Libor moving to NYSE Euronext
Alanna Petroff reports to CNNMoney.com that Libor is moving to the NYSE Euronext. Dr. Tim Dulaney was quoted as saying that the move to NYSE Euronext was unlikely to restore confidence in LIBOR unless it was accompanied by fundamental change in the calculation methodology.
SIFMA Calls SEC's Proposed Market Data Order "Fatally Flawed"
The Securities Industry and Financial Markets Association (SIFMA) commissioned SLCG to prepare an "Economic Study of Securities Market Data Pricing by the Exchanges." The study provides strong support for the assertion that the two dominant exchanges are exercising monopoly pricing power by charging fees for depth-of-book data that are significantly higher than the relevant costs associated with distributing the data.
Employee Stock Options and Concentrated Stock Positions: What Not to Do to Protect Your Wealth
Dr. Craig McCann presented "Employee Stock Options and Concentrated Stock Positions: What Not to Do to Protect Your Wealth," to the Union League Club of Chicago.