Archive June 2018
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Week InReview: June 29, 2018
"Federal regulators are investigating the case of the missing '4,' exploring the numeral's conspicuous absence in quarterly reports that could mean companies have improperly rounded up their earnings per share to the next highest cent, according to people familiar with the matter.
"Enforcement officials at the Securities and Exchange Commission have sent queries to at least 10 companies, asking the firms to provide information about accounting adjustments that could push their reported earnings per share higher, one person familiar with the matter said."
- The Wall Street Journal
Week InAdvance: June 25, 2018
June 22, 2018
"A trainee day trader in France is suing a British brokerage for an amount comparable to almost its entire annual revenue after it seized the €10m profit he made using what he initially thought was a demonstration version of its platform....
"He was practicing trading at home on what he believed to be the demo version - placing €1bn of orders for European and U.S. equity futures - before realizing that it was the live platform and he had run up a loss of more than €1m. He continued trading, eventually building up a $5bn position in U.S. equity futures and turning the loss into a profit of more than €10m."
Day trader sues broker over 'demo' trading platform mix-up
Week InAdvance: June 18, 2018
Week InAdvance: June 11, 2018
Week InReview: June 8, 2018
Week InAdvance: June 4, 2018
Week InReview: June 1, 2018
On Wednesday, the Fed proposed some rather small revisions to the Volcker Rule. If you want to read all about it, there's the Fed memo explaining the proposal (developed along with the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Securities and Exchange Commission, and the Commodity Futures Trading Commission), the Fed's official notice which provides a massive amount of details, and "Why Wall Street Traders Aren't Rejoicing (Yet) Over Volcker Rule" from Bloomberg Markets.