Financial Services Authority August 16, 2011 The FSA has today fined Sir Ken Morrison pound;210,000 for breaching the Disclosure and Transparency Rules (" DTR") by failing to disclose his reduced shareholding and voting rights in Wm Morrison Supermarkets Plc (" Wm Morrison"). Shortly after his retirement as Chairman of Wm Morrison, the company announced on 28 March 2008 that Sir Ken had a notifiable holding of voting rights of 6.38%. After the announcement on 28 March 2008 there were no further shareholding notifications made concerning Sir Ken's holdings until 1 March 2011 - just under three

NY Times August 17, 2011 Industry groups are examining possible legal challenges to the CFTC's plan to curb speculative trading. The catalyst has been a federal appeals court decision in July striking down an S.E.C. rule that would have made it easier for shareholders to nominate company directors. Until now, Wall Street relied largely on an army of lobbyists to chisel away at 300 new rules flowing from the S.E.C. and the CFTC, among other agencies. But while lobbying might yield the occasional loophole, judicial rulings can halt new rules altogether. Hal S. Scott, a professor at Harvard Law

Wall Street Journal August 18, 2011 The CFTC compiled a list of investors that placed large bets on oil prices before crude hit record highs in 2008. The list was dominated by banks, including Goldman Sachs and Morgan Stanley, but it also included corporate icons, foreign pension funds and a few surprising members. The list, which offers a rare glimpse of the secretive world of oil trading investments tied to millions of barrels of oil in 2008 were held by a diverse group of at least 219 investors. The list could fuel calls for a crackdown on oil speculators, a label critics apply to those who

Financial Services Authority August 15, 2011 The Upper Tribunal (Tax and Chancery Chamber) has directed the FSA to fine Michiel Weiger Visser £2 million and Oluwole Modupe Fagbulu £100,000 and ban them both from performing any role in regulated financial services for breaching Principle 1 of the FSA's Statements of Principle for Approved Persons and for engaging in market abuse. Visser was the CEO and Fagbulu CFO and compliance officer of Mercurius Capital Management Limited (" Mercurius"). Mercurius managed the hedge fund Mercurius International Fund (" the Fund") which during the relevant

EUR-Lex August 12, 2011 Text relating to the following legislative resolution has been published in the Official Journal of the European Union: European Parliament legislative resolution of 17 June 2010 on the proposal for a directive of the European Parliament and of the Council amending Directives 2003/71/EC on the prospectus to be published when securities are offered to the public or admitted to trading and 2004/109/EC on the harmonisation of transparency requirements in relation to information about issuers whose securities are admitted to trading on a regulated market.