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November 16, 2012
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  Top Story 
  • SEC's whistle-blower program gets 3,001 tips
    The Securities and Exchange Commission said that in the past fiscal year it has received tips from Washington, D.C., all 50 states, Puerto Rico and dozens of countries. “In just its first year, the whistle-blower program already has proven to be a valuable tool in helping us ferret out financial fraud,” SEC Chairman Mary Schapiro said. “When insiders provide us with high-quality road maps of fraudulent wrongdoing, it reduces the length of time we spend investigating and saves the agency substantial resources.” The Wall Street Journal/Corruption Currents blog (11/15), CNNMoney (11/15) LinkedInFacebookTwitterEmail this Story
  Industry Update 
  • "Fiscal cliff" is seen as deepening Wall Street stock slump
    Wall Street firms are starting to worry the lack of progress in Washington, D.C., on averting the "fiscal cliff" could exacerbate the emerging Wall Street stock slump. The Nasdaq composite index, the widely followed technology stock benchmark, and the Russell 2000 index of small-cap equities have slid more than 10% from their highs in the middle of September. Los Angeles Times (tiered subscription model) (11/16) LinkedInFacebookTwitterEmail this Story
  • CFTC files notice of appeal on position-limits ruling
    The Commodity Futures Trading Commission filed a notice of appeal in an effort to reverse a ruling rejecting its position-limits rule. “The rule addresses Congress’ concern that that no single trader be permitted to obtain too large a share of the market and that derivatives markets remain fair and competitive,” CFTC Chairman Gary Gensler said. “I believe it is critically important that these position limits be established as Congress required.” Bloomberg Businessweek (11/15), The Hill/On the Money blog (11/15) LinkedInFacebookTwitterEmail this Story
 
  • OCC scrutinizes JPMorgan's anti-money laundering policies
    The Office of the Comptroller of the Currency is preparing to serve a cease-and-desist order on JPMorgan Chase, alleging shortcomings in its anti-money-laundering policies, people close to the situation said. The bank is expected to be told it must strengthen its procedures and review transactions that have taken place in the past, they said. The Wall Street Journal (11/15) LinkedInFacebookTwitterEmail this Story
  New York Focus 
  • "Occupy Wall Street" returns with a calmer, kinder voice
    When "Occupy Wall Street" was born, it spoke with an angry voice motivated by outrage. On the first anniversary of the movement's eviction from Zuccotti Park, "Occupy" speaks in a gentler, more obviously constructive tone. The group now offers "a new set of solutions" and its views of how the financial system should work, Kevin Roose writes. New York magazine (11/15) LinkedInFacebookTwitterEmail this Story
  Career Development 
  • The myths of modern leadership
    People used to think the right and ability to lead was conferred by the gods -- and a number of similar myths still plague the modern workforce, writes Brian Evje. Ideas such as that leaders are born rather than made and that leaders should be fearless and infallible are among the damaging misconceptions about the nature of 21st-century leadership, Evje writes. Inc. online (free registration) (11/14) LinkedInFacebookTwitterEmail this Story
  On The Economy 
  • Sandy sends U.S. jobless claims soaring
    Disruption brought by Superstorm Sandy drove first-time unemployment claims to a seasonally adjusted 439,000, the most since April 2011, the Labor Department said. The 78,000 increase was the biggest one-week jump since Hurricane Katrina in 2005. Sandy's effects could reduce economic growth this quarter as much as a half percentage point, economists said. Reuters (11/15), MarketWatch (11/15) LinkedInFacebookTwitterEmail this Story
 
  Financial Products 
  • First Trust readies commodity-futures ETF
    First Trust filed with the Securities and Exchange Commission to launch an actively managed exchange-traded fund that would offer indirect exposure to commodity futures. The First Trust Global Tactical Commodity Strategy Fund would invest in a Cayman Islands-domiciled entity holding commodity futures, avoiding direct ownership by the ETF's shareholders. IndexUniverse.com (11/14) LinkedInFacebookTwitterEmail this Story
  SmartQuote 
One thing I am convinced more and more is true and that is this: The only way to be truly happy is to make others happy. When you realize that and take advantage of the fact, everything is made perfect."
--William Carlos Williams,
American poet and physician


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