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January 2, 2013
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News on the capital markets, securities and financial industry

  Morning Bell 
  Industry News 
  • Structured note sales fall on "fiscal cliff" worries
    A dip in the sales of structured notes in the five days ended Dec. 28 was attributed to uncertainty surrounding the "fiscal cliff." The sales of those investment vehicles were off 78% at $213.6 million, compared with $968.7 million a year earlier, according to Bloomberg. "Some people are definitely holding off," said Deryk Rhodes of Incapital, in Boca Raton, Fla. "I've had a few clients say, 'Hey, I'm interested. I'm just going to pull the trigger next week.' " Bloomberg (12/31) LinkedInFacebookTwitterEmail this Story
  Washington Roundup 
  • U.S. and banks reportedly near $10B foreclosure deal
    U.S. regulators and banks are hammering out an agreement to end a drawn-out process of examining thousands of foreclosure cases for mistakes, sources say. The settlement could cost banks $10 billion, but both sides say the review is too expensive and not providing enough relief. The Wall Street Journal (12/31) LinkedInFacebookTwitterEmail this Story
  • Questions remain about bid-rigging enforcement actions
    Market participants are wondering whether U.S. authorities will be targeting more firms and individuals this year after wrapping up most of their 2012 cases of bid-rigging of bond-related investment and derivatives contracts. "There is a lot of mystery to this process in the eyes of the industry. Have these individuals and firms worked out a cooperative agreement, or are the wheels of justice grinding exceedingly slowly? [Or] have there been decisions to pursue certain cases and not others, for reasons we don't know?" said Peter Shapiro, managing director of Swap Financial Group. The Bond Buyer (free content) (12/31) LinkedInFacebookTwitterEmail this Story
  Operations Update 
  SIFMA News 
  • Take advantage of early-bird rates for SIFMA Tech 2013 -- June 18-19 -- New York City
    As the financial services industry’s technology evolves, so does SIFMA's Tech Conference. SIFMA is taking this 30-year tradition to new levels in 2013. SIFMA Tech 2013 will again be a focal point for industry leaders, regulators and solution providers, but in a new and dynamic forum. Save the date! Better yet, take advantage of early-bird rates to learn how you can harness cutting-edge technology to achieve a technological infrastructure that keeps your firm at peak efficiency and keeps your clients better served. LinkedInFacebookTwitterEmail this Story
  • Register today and SAVE -- SIFMA's AML Workshops & Conference -- Feb. 26-27
    SIFMA's 13th Annual Anti-Money Laundering and Financial Crimes Workshops and Conference is the securities industry's premier events for anti-money laundering compliance and practices. Join us and hear exclusive presentations from newly appointed Jennifer Shasky Calvery, director of FinCEN, and Adam Szubin, director of OFAC, on their agendas for 2013. The conference convenes leading experts from the industry, regulatory agencies and law enforcement to discuss the most recent developments and requirements in anti-money laundering laws as well as provides practical guidance for implementing robust and effective compliance programs. Register today and save on registration. LinkedInFacebookTwitterEmail this Story
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Birds sing after a storm; why shouldn't people feel as free to delight in whatever remains to them."
--Rose Kennedy,
American philanthropist

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