TheStockLoanReport

Daily Fed Funds Effective Rate:

2011-08-02T08:25:00.000-07:00

Daily Fed Funds Effective Rate: 0.17 percent (Low 0.010%, High 0.375%) with 8 basis points of standard deviation

Comedy in the Basement

2011-01-11T06:22:00.000-08:00

WHEN: Saturday, January 15, 2011
Showtime 8:00 PM
WHAT: Comedy in the Basement
WHO: Chips Cooney, Joe DiPicolli, Gary Manfre
WHERE:
Novita Bistro
25 New Street
Metuchen, NJ 08840
$10.00
What more do you need?

GARY MANFRE – Tax, Accounting and Bookkeeping Services

2010-02-03T11:21:00.000-08:00

GARY JAMES MANFRE LLC
Entrepreneur
gary2662@optonline.net

Bookkeeping – Accounting
Tax Projections – Tax Preparation
Office Management Services

Specializing in Online and Digital companies both large and small

On site or Virtual – Always accessible

Pick and or choose any or all of the services listed.

Bookkeeping services:
-Lead generation invoicing and collections to your customers
-Coding and paying invoices for expenses affiliate, media, general and administrative
-Cash receipts and cash disbursements
-Bank reconciliations
-Audit type work papers for support

Accounting services:
-Financial statement preparation
-Accounts receivable analysis
-Accounts payable analysis
-Accrued expenses
-Prepaid expenses
-Deferred income

Financial Statement Preparation:
-Monthly, Quarterly, Bi-Annually, Annually
-Comparison to budget, forecasts, prior year

Tax returns:
-Corporation…Type C or S
-Partnership LLC
-Individual / Sole proprietor LLC
-Quarterly estimates
-Compliance for 1099’s and W-2’s
-Multi-state resident and Non-resident

Tax projection and planning:
-Know what your tax return will look like before the year is over

Office Manager:
-Human resources
-Payroll management
-Medical benefits administration
-Retirement plan management

Client references available:
-Some clients with me for over 20 years
-Some clients met through Craig’s list

INDUSTRY EXPERIENCE:
-Digital online advertising
-Commercial real estate
-Wholesale distribution
-Dental practices
-Legal practices

PC and SOFTWARE EXPERIENCE:
-Quick Books Pro
-Intuit payroll
-Microsoft Office…Outlook, Excel, Word, Powerpoint, Publisher,
-BNA Individual Tax projection
-Proseries Tax preparation

EDUCATION: Fairleigh Dickinson University, Teaneck, NJ, Bachelor of Science in Accounting - June 1984

NYSE Amex Issues Short Interest Report

2009-12-09T19:01:00.000-08:00

NYSE Amex Issues Short Interest Report
New York, December 9, 2009 -- NYSE Amex (formerly known as NYSE Alternext US) today reported short interest as of the close of business on the settlement date of November 30, 2009.Based on information received from member and non-member organizations, short interest increased to 205,015,034 shares from 199,803,315 shares (revised) on November 13, 2009. This reflects short interest reported by all broker-dealers (not only NYSE Amex member firms) in NYSE Amex-listed securities. A short position of 5,000 or more shares existed in 326 issues. Some short position was shown in 570 issues.
This short interest report was compiled by NYSE Amex on the basis on information obtained from its member and non-member organizations covering all securities traded on the Exchange in both round and odd-lots.
A short sale is any sale of a security that the seller does not own or any sale that is completed by the delivery of a borrowed security.Adjusted short interest for the preceding 12 months:
November 30, 2009 205,015,034
November 13, 2009 199,803,315
October 15, 2009 201,352,482
September 30, 2009 220,767,543
September 15, 2009 217,193,638
August 31, 2009 208,842,165
August 14, 2009 189,747,487
August 11, 2009 174,551,672
July 24, 2009 168,418,078
July 10, 2009 183,931,950
June 30, 2009 172,719,023
June 15, 2009 164,363,405
May 29, 2009 166,818,234
May 15, 2009 162,979,538
April 30, 2009 162,429,303
April 15, 2009 164,187,232
March 24, 2009 177,720,840
March 10, 2009 176,797,839
February 27, 2009 171,335,149
February 13, 2009 176,797,839
January 30, 2009 482,111,111
January 15, 2009 497,343,931
December 31, 2008 504,854,892
December 15, 2 008 545,551,421
November 28, 2008 631,636,180
November 14, 2008 609,967,049
October 31, 2008 722,568,248
October 15, 2008 1,141,341,041
September 30, 2008 1,182,959,576
September 15, 2008 1,375,834,183
August 29, 2008 1,431,289,667
August 15, 2008 1,447,276,417
July 31, 2008 1,488,607,507
July 15, 2008 1,469,681,869
June 30, 2008 1,433,859,621
June 13, 2008 1,478,469,866
May 30, 2008 1,347,168,564
May 15, 2008 1,308,207,732
April 30, 2008 1,280,471,726
About NYSE AmexOnce known as the American Stock Exchange, it was acquired by NYSE Euronext on October 1, 2008. The market offers trading across a full range of equities, options, and exchange traded funds ("ETFs"), including structured products and HOLDRS.
Contact: Mirtha MedinaPhone: 212.656.6192Email: mmedina@nyx.com

Tax-Accounting-Bookkeeping

2009-12-06T18:38:00.000-08:00

Entrepreneur–Specializing in Online and Digital companies both large and small.
Pick and or choose any or all of the services listed.
Virtual or on site – Always accessible by email and telephone
Tax, Accounting, Bookkeeping and Office Services:
Office Manager – Human resources, payroll, medical benefits and retirement plan management
Bookkeeping services – Lead generation invoicing and collections, coding and paying invoices for media purchasing and administrative expenses, cash receipts, cash disbursements, reconciliations with audit type work papers for support
Accounting and financial statement services – Analysis of accounts receivable, accounts payable, accruals, prepaid expenses and deferred income
Financial Statement Preparation – Monthly, Quarterly, Bi-Annually, Annually with comparison to budget, forecasts and prior year
Tax returns – Corporation, partnership, individual, LLC
Tax projection and planning – Quarterly estimates and compliance for W-2’s, and 1099’s
Client references available

GARY MANFRE – Tax, Accounting and Bookkeeping Services

2009-10-30T13:14:00.000-07:00

1986 to Present
GARY MANFRE – Tax, Accounting and Bookkeeping Services
Client references available including clients met through Craigslist
Financial Statement Preparation – Monthly, Quarterly, Bi-Annually, Annually
Bookkeeping services – Cash receipts, disbursements and bank reconciliations
Accounting services – Accounts receivable, payable and financial statement analysis
Tax returns – Corporation, partnership, individual with LLC
Tax projection and planning – Quarterly estimates and compliance

INDUSTRY EXPERIENCE:
Commercial real estate, digital lead generation, wholesale distribution, service industries

NYSE Group Inc. Issues Short Interest Report

2009-10-29T05:39:00.000-07:00

New York, October 27, 2009 --The NYSE Group, Inc. today reported short interest as of the close of business on the settlement date of October 15, 2009.Based on information received from members and member organizations, short interest increased to 13,437,073,012 shares from 13,060,980,113 (revised) shares on September 30, 2009. This was an increase of 376,092,899 shares.The short interest on October 15 was equal to 3.51 percent of the total shares outstanding.The short interest in warrants as of October 15 amounted to 53,319 warrants, compared to 40,225 warrants the previous period.As of the settlement date, there were 4,104 stocks and 11 warrants available for trading. Of these, 3,447 issues had either a short position of at least 5,000 shares or a change of 2,000 shares since the last monthly report.A short sale is any sale of a security that the seller does not own or any sale that is completed by the delivery of a borrowed security.
Adjusted short interest for the preceeding 12 months:

October 15, 2009 13,437,073,012
September 30, 2009 13,060,980,113
September 15, 2009 13,515,436,991
August 31, 2009 13,784,184,812
August 14, 2009 14,129,801,752
July 31, 2009 14,019,075,490
July 15, 2009 15,637,748,052
June 30, 2009 15,570,613,801
June 15, 2009 15,348,185,008
May 29, 2009 15,146,892,934
May 15, 2009 15,140,539,571
April 30, 2009 15,173,139,551
April 15, 2009 15,640,165,370
March 31, 2009 16,173,689,617
March 13, 2009 16,169,344,115
February 27, 2009 14,608,255,028
February 13, 2009 14,188,847,789
January 30, 2009 13,427,741,819
January 15, 2009 13,357,565,273
December 31, 2008 13,129,000,164
December 15, 2008 13,597,848,531
November 28, 2008 14,773,724,226
November 14, 2008 14,184,494,648
October 31, 2008 13,829,207,377

Contact: Mirtha MedinaPhone: 212.656.6192Email: mmedina@nyx.com

NYSE Amex Issues Short Interest Report

2009-10-29T05:33:00.000-07:00

New York, October 26, 2009 -- NYSE Amex (formerly known as NYSE Alternext US) today reported short interest as of the close of business on the settlement date of October 15, 2009.Based on information received from member and non-member organizations, short interest increased to 220,767,543 shares from 217,193,638 shares (revised) on September 30, 2009. This reflects short interest reported by all broker-dealers (not only NYSE Amex member firms) in NYSE Amex-listed securities. A short position of 5,000 or more shares existed in 343 issues. Some short position was shown in 586 issues.
This short interest report was compiled by NYSE Amex on the basis on information obtained from its member and non-member organizations covering all securities traded on the Exchange in both round and odd-lots.
A short sale is any sale of a security that the seller does not own or any sale that is completed by the delivery of a borrowed security.

Adjusted short interest for the preceding 12 months:

September 30, 2009 220,767,543
September 15, 2009 217,193,638
August 31, 2009 208,842,165
August 14, 2009 189,747,487
August 11, 2009 174,551,672
July 24, 2009 168,418,078
July 10, 2009 183,931,950
June 30, 2009 172,719,023
June 15, 2009 164,363,405
May 29, 2009 166,818,234
May 15, 2009 162,979,538
April 30, 2009 162,429,303
April 15, 2009 164,187,232
March 24, 2009 177,720,840
March 10, 2009 176,797,839
February 27, 2009 171,335,149
February 13, 2009 176,797,839
January 30, 2009 482,111,111
January 15, 2009 497,343,931
December 31, 2008 504,854,892
December 15, 2 008 545,551,421
November 28, 2008 631,636,180
November 14, 2008 609,967,049
October 31, 2008 722,568,248
October 15, 2008 1,141,341,041
September 30, 2008 1,182,959,576
September 15, 2008 1,375,834,183
August 29, 2008 1,431,289,667
August 15, 2008 1,447,276,417
July 31, 2008 1,488,607,507
July 15, 2008 1,469,681,869
June 30, 2008 1,433,859,621
June 13, 2008 1,478,469,866
May 30, 2008 1,347,168,564
May 15, 2008 1,308,207,732
April 30, 2008 1,280,471,726

About NYSE AmexOnce known as the American Stock Exchange, it was acquired by NYSE Euronext on October 1, 2008. The market offers trading across a full range of equities, options, and exchange traded funds ("ETFs"), including structured products and HOLDRS.
Contact: Mirtha MedinaPhone: 212.656.6192Email: mmedina@nyx.com

Gary Manfre

2009-10-24T18:04:00.000-07:00

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THE STOCK LOAN REPORT

2009-10-07T16:10:00.000-07:00

The Stock Loan Report
Keeping you informed about the changes in Stock Loan

Did you know there was a Security Lending roundtable discussion hosted by the SEC?
Did you know the greatest minds of Stock Loan participated in the roundtable discussion?
Who was there?
What was said?
What changes are going to take place?
How will you be affected?

The Answers
Information Communication

I am going to provide the answers to some of these questions.
I am going to keep you informed of the changes taking place in Stock Loan.
If I know, you will know.
I am the creator of THE STOCK LOAN REPORT.
My motto is Information Communication

http://www.thestockloanreport.com/

STOCK-LOAN FINDER INDICTED FOR KICKBACKS

2009-10-06T13:30:00.000-07:00

http://www.usdoj.gov/usao/nye/pr/2009/2009oct05.html

FOR IMMEDIATE RELEASE
October 05, 2009
PRESS RELEASE
STOCK-LOAN FINDER INDICTED FOR KICKBACKS AND FRAUD INVOLVING STOCK-LOAN DESKS OF WALL STREET BROKERAGE FIRMS
Charges Include Conspiracy to Commit Securities Fraud and Wire Fraud
An indictment was unsealed this morning in federal court in Brooklyn alleging securities fraud conspiracy and related charges against Ronald Garcia, a purported stock-loan finder who did business as Independent Investor Services, Inc. (“Independent Investor”)1 . The defendant’s initial appearance and arraignment is scheduled for this afternoon before United States Magistrate Judge Marilyn D. Go, at the U.S. Courthouse, 225 Cadman Plaza East, Brooklyn, New York. The case has been assigned to United States District Judge John Gleeson.
The indictment was announced by Benton J. Campbell, United States Attorney for the Eastern District of New York, and Joseph M. Demarest, Jr., Assistant Director-in-Charge of the Federal Bureau of Investigation, New York Field Office.
The charges arise out of an ongoing industry-wide investigation into allegations of bribery and kickbacks in the securities-lending industry, also called the stock-loan industry. Securities firms often borrow and loan securities among themselves for a number of reasons, including facilitating short-sale transactions. Stock-loan finders can assist these firms by locating inventories of a given security and matching borrowers and lenders in stock-loan transactions. The investigation disclosed that stock-loan traders at several brokerage firms funneled millions of dollars in fraudulent finder’s fees to their co-conspirators, often where no finder’s services had been rendered, in exchange for cash bribes and, in some instances, payments to the traders’ relatives. To date, 30 individuals have been convicted in this district of federal kickback and bribery schemes in the stock-loan industry, including former securities-lending traders at A.G. Edwards and Sons, Inc.; Janney Montgomery Scott LLC; JP Morgan Chase; Kellner Dileo & Company, Inc.; Oppenheimer & Co., Inc.; Morgan Stanley; National Investors Services, also known as TD Waterhouse; Nomura Securities International, Inc.; Pax Clearing Corporation; PFPC Worldwide Inc.; Schonfeld Securities, LLC; and Van der Moolen Specialists USA, LLC.
The six-count indictment announced today charges Garcia with conspiracy to commit securities and wire fraud, securities fraud, and wire fraud. As alleged in the indictment, Independent Investor received finder’s fees in connection with stock-loan transactions between Schonfeld Securities, LLC, and Van der Moolen Specialists USA, LLC, when neither Garcia nor Independent Investor had performed any legitimate finder services. In exchange for these fraudulently-obtained finder’s fees, Garcia paid cash kickbacks to a trader at Van der Moolen Specialists USA, LLC , who in turn paid a portion of the kickbacks to a trader at Schonfeld Securities, LLC.
The U.S. Securities and Exchange Commission previously filed a related civil suit against Garcia in federal court in the Eastern District of New York.
“The defendant allegedly entered into a fraudulent arrangement and paid kickbacks to corrupt traders at brokerage firms to buy their business,” stated United States Attorney Campbell. “Such conduct undermines the public’s confidence in the nation’s securities markets and will be vigorously investigated and prosecuted.” Mr. Campbell thanked the Securities and Exchange Commission for its assistance.
FBI Assistant Director-in-Charge Demarest stated, “Legitimate stock loan finder’s feesare compensation for real work in the securities industry, but this defendant’s alleged scheme was the white collar equivalent of a no-show job. He conspired to get paid for work he didn’t do, and paid kickbacks to those who enabled him. The FBI will continue to police fraud schemes that amount to theft, whether from building sites or brokerage firms.”
If convicted, the maximum term of imprisonment for securities fraud or conspiracy to commit securities fraud is 25 years. The maximum term of imprisonment for conviction of wire fraud or conspiracy to commit wire fraud is 20 years.
The government’s case is being prosecuted by Assistant United States Attorneys Winston M. Paes and Laura D. Mantell.
The Defendant:RONALD GARCIAAge: 62

Panelists' Biographies, Securities Lending and Short Sale Roundtable

2009-09-29T08:54:00.000-07:00

Panelists' BiographiesSecurities Lending and Short Sale Roundtable
September 29, 2009

PANEL ONE — Overview of Securities Lending: Participants; Process; Benefits and Pitfalls

Jerry Davis, Chairman of the Board of Trustees, City of New Orleans Employees’ Retirement System
Statement
Commander Jerry D. Davis is the Employee Representative on the Board of Trustees for the New Orleans Employees’ Retirement System. He was first elected to this five-member board in 1986 and was re-elected for his eighth term effective July 1, 2008. He was elected Chairman of the Board in 1994, after serving as Chairman of the Investment Committee for seven years, during which time the Fund progressed from a fixed-income-only allocation to a balanced mix of asset classes. During his unprecedented tenure, the Fund has grown from $94 million to $420 million, while providing generous pensions and allowing for the lowest employer cost ratio in the state. In his CEO role, he manages relationships with local government officials, 47 investment firms, four law firms, the Board’s consultants, actuary, and the state auditor.
Jerry pursued a dual career in military service and civilian government for over forty years before retiring from the Coast Guard in 2002. During that career he alternated between reserve and active service, being called to active duty six times. He was selected three times to command Coast Guard forces, and served for several years on the staff of the Commandant and/or the District Commander. He earned eleven decorations and was promoted through thirteen ranks, finally serving as a port operations commander during Operation Desert Storm.
He subsequently retired from City of New Orleans employment in May of 2006, where his last post was Personnel Administrator, responsible for all training and performance evaluation for the City’s 8,000-member workforce. He continues, as an unpaid volunteer, in two roles: in addition to his trustee responsibility, he is serving a six-year term as the Employee Representative on the Civil Service Commission, appointed by the City Council in 2005. His role there is both legislative and judicial, with responsibility for adopting changes to Civil Service Law as well as adjudicating employee appeals of wrongful discipline.
A 1970 graduate of Tulane University, Jerry has addressed over 200 audiences in eleven countries, on issues as varied as fund management, securities litigation and military logistics.

David Downey, Chief Executive Officer, OneChicago
Statement
David G. Downey serves as Chief Executive Officer of OneChicago, the Securities Futures exchange in the US.
Mr. Downey began his career in the securities and futures industry in 1983 on the American Stock Exchange in New York. In 1985 he joined Timber Hill Inc.,(THI) a firm specializing in the business of market-making on the floors of various stock, future and derivative exchanges around the world. After moving to Chicago in 1985 he began trading as a member of the CBOE and over the years held memberships at the CBOT and the CME. In 1991 he assumed the title of Vice President of US floor trading Operations for Timber Hill and was instrumental in the spread of electronic tools for traders on the various exchange floors.
In 1995, Mr. Downey turned his attention to the development of Interactive Brokers (IB) where he served as Executive Vice President. IB provides direct access (”on line”) trade execution and clearing services to institutional and professional traders for a wide variety of electronically traded products including options, futures, stocks, forex and bonds worldwide.
Mr. Downey is a 1982 graduate of Boston College where he earned Bachelor of Arts Degrees in Economics and Political Science.

Irving J. Klubeck, Managing Director, Pershing LLC
Statement
Irving Klubeck is a Managing Director for Pershing LLC, where he is a member of Customer Processing and Services, and is responsible for Securities Lending Operations and Global Clearance and Settlements. Mr. Klubeck re-joined Pershing in 2004 after two years with State Street Corporation leading their effort to provide hedge fund operations to their alternative investing clients. Mr. Klubeck began his career with Pershing in 1978 and has worked in the firm’s Treasurers, Securities Lending (Sales and Operations), and International Operations departments. Mr. Klubeck is currently the President of the Securities Industry and Financial Markets Association’s (SIFMA) Securities Lending Division and is an active participant in numerous industry task forces and working groups. Mr. Klubeck earned a Bachelor of Business Administration degree in Finance from Pace University and is also a graduate of the Securities Industry Institute, sponsored by the SIFMA at The Wharton School. He holds NASD® Series 7, 24, and 63 licenses.

William F. Pridmore, President, William F. Pridmore, Ltd.
Statement
Bill has over 30 years of diversified experience as an independent consultant and senior manager in Institutional Trust and Commercial Banking. This includes extensive experience in all aspects of Global Securities Lending, Global Custody, Master Trust Securities Operations and Securities Finance.
Bill currently works as an independent consultant out of an office in the northern suburbs of Chicago. He provides advice to large institutional investors on their participation in the securities lending and short-term investment markets. His consulting clients have included large public and private pension funds, multinational insurance companies and mutual fund complexes.
For the potential lender of securities, there is no shortage of highly knowledgeable and experienced people willing to provide advice about securities lending. But this advice is usually from the perspective of a vendor selling their product. Often the lender has a difficult time determining when their interests may not be aligned with the lending service vendor. Bill helps the institutional investor bridge that knowledge gap and provides an unbiased perspective.
Over his career, Bill has been actively involved in the formation of international organizations that promote sound securities lending practices. He has frequently been asked to speak on the topic of Securities Lending, most recently at the 2009 IMN Securities Lending and Repo Conferences held in Arizona and New York. In 1992, Bill assisted in the organization and acted as Chairman of the first RMA/ISLA joint International Securities Lending Conference held in Scotland.
Bill received a M.B.A. with a Concentration in Finance from the University of Chicago in 1981. He received his B.A. in Economics from Georgetown University in 1977.

Adam V. Reed, Ph.D., Julian Price Scholar in Finance and Associate Professor of Finance at the UNC Kenan-Flagler Business School
Statement
Professor Reed is the Julian Price Associate Professor of Finance at The University of North Carolina’s Kenan-Flagler Business School. Professor Reed’s research focuses broadly on short selling, equity lending, capital markets and mutual funds. The research asks how institutions affect the traditional view of markets and asset prices, and it has helped uncover important features of financial markets that have had direct, significant impact on academics, practitioners and regulators. The research provides clarity on the following key questions. How does short selling affect market efficiency? How are prices in options markets related to short selling costs? And, how does the presence of search costs affect prices and price dispersion in the market for borrowing stock? Professor Reed’s research has been published in The Journal of Finance, The Journal of Financial Economics, and the Review of Financial Studies. The research has been cited in The Wall Street Journal and The New York Times. Professor Reed worked for the Board of Governors of the Federal Reserve System. He received his PhD and masters degree in finance from the Wharton School at the University of Pennsylvania and his BA in applied mathematics and economics from the University of California at Berkeley.

Comments on Securities Lending and Short Sale Roundtable

2009-09-25T14:37:00.001-07:00

Comments on Securities Lending and Short Sale Roundtable
[File No. 4-590]
Sep. 24, 2009
Christianna Wood, Chairman of the International Corporate Governance Network and Andrew Clearfield, Chairman, Securities Lending Task Force of the ICGN
Sep. 21, 2009
Thomas E. Gish, Jr.
Sep. 15, 2009
Peter J. Chepucavage, The International Association of Small Broker Dealers and Advisors
Sep. 14, 2009
Brian Dudley
Sep. 14, 2009
Tommy Dahl, Hampton, Georgia
Sep. 13, 2009
George G. Fitzpatrick
Sep. 13, 2009
David E. Salk, RDO, Richmond, California
Sep. 13, 2009
George Fitzpatrick, CEO Blind Co Inc., Arizona
Sep. 12, 2009
Josh L. Robertson, Los Angeles, California
Sep. 12, 2009
Gunther Karger, President, Discovery Group, Palmetto Bay, Florida

http://www.sec.gov/comments/4-590/4-590.shtml

SEC Announces Panelists for Securities Lending and Short Sale Roundtable

2009-09-25T14:29:00.000-07:00

SEC Announces Panelists for Securities Lending and Short Sale Roundtable
FOR IMMEDIATE RELEASE2009-207
Washington, D.C., Sept. 25, 2009 — The Securities and Exchange Commission today announced the panelists for its September 29 and September 30 roundtable in Washington D.C. to discuss securities lending and short sale issues.
Additional Materials
Spotlight on Short Sales
Notice of Roundtable Discussion; Request for Comment
View comments
Submit comments
The roundtable will begin at 9:30 a.m. on both days with opening remarks from SEC Chairman Mary L. Schapiro.
"Securities lending was once thought to be a way to earn a few extra points of return, with little or no risk," said Chairman Schapiro. "Events of last year reveal the risk was present. As a result, we need to consider ways to enhance investor-oriented oversight of this multi-trillion dollar market."
Chairman Schapiro added, "We also must focus on a flip-side of securities lending — short selling. That's why the roundtable will also examine potential short sale pre-borrow and hard locate requirements and short sale disclosures."
Panel topics will include discussions of securities lending practices, possible short sale pre-borrowing requirements and additional short sale disclosures.
Roundtable participants will include representatives of corporate issuers, financial services firms, beneficial owner lenders, lending agents, borrowers of securities, self-regulatory organizations, international regulators and the academic community.
The roundtable will be held at the SEC's headquarters at 100 F Street NE in Washington, D.C., and will be open to the public with seating on a first-come, first-served basis. The roundtable also will be webcast on the SEC's Web site.
For additional information about the roundtable, contact the SEC's Division of Trading and Markets at (202) 551-5720.
Agenda and Panelists
September 29, 2009
9:30-9:40 a.m.Opening Remarks from SEC Chairman Mary L. Schapiro
9:40-10:50 a.m. - Panel 1Overview of Securities Lending: Participants; Process; Benefits and Pitfalls
Jerry Davis, New Orleans Municipal Employees' Retirement System
David Downey, OneChicago
Irving Klubeck, Pershing LLC
William Pridmore, William F. Pridmore, Ltd.
Professor Adam Reed, University of North Carolina
10:50-11 a.m. - Break
11 a.m.-12:30 p.m. - Panel 2Securities Lending and Investor Protection Concerns: Cash Collateral Reinvestment; Default; Lending Agent Compensation and Fee Splits; Proxy Voting
Patrick Avitabile, Citigroup
Ed Blount, Center for the Study of Financial Market Evolution
Karen Dunn Kelley, Invesco
Bruce Leto, Stradley Ronon Stevens and Young, LLP
Kathy Rulong, Bank of New York Mellon Corporation
Julia Short, RidgeWorth Investments
Christianna Wood, Internat'l Corporate Governance Network
12:30-1:30 p.m. - Lunch Break
1:30-2:40 p.m. - Panel 3Improving Securities Lending for the Benefit of Investors: Transparency; Electronic Platforms; Central Counterparties; Accountability
Gregory DePetris, Quadriserv, Inc.
Christine Donovan, Brown Brothers Harriman
Aaron Gerdeman, Sungard
Chris Jaynes, eSecLending
Mike McAuley, State Street Corporation
Jeff Petro, Federated
Shawn Sullivan, Credit Suisse
2:40-2:50 p.m. - Break
2:50-3:55 p.m. - Panel 4The Future of Securities Lending and Potential Regulatory Solutions: Market Evolution; SEC's Role; Assessing any Regulatory Gaps
Mark Faulkner, Data Explorers
Richard Ketchum, FINRA
John Nagel, Citadel Investment Group, L.L.C.
Leslie Nelson, Goldman Sachs
3:55-4 p.m.Closing Remarks from SEC Chairman Mary L. Schapiro
September 30, 2009
9:30-9:40 a.m.Opening Remarks from SEC Chairman Mary L. Schapiro
9:40-11 a.m. - Panel 1Controls on "Naked" Short Selling: Examination of Pre-Borrow and Hard Locate Requirements
William Conley, Goldman Sachs
Peter Driscoll, Security Traders Association
Dr. Frank Hatheway, NASDAQ OMX Group
William Hodash, The Depository Trust & Clearing Corporation
Paul Lynch, State Street Corporation
Michael Mendelson, AQR Capital Management
Dennis Nixon, International Bancshares Corporation
William O'Brien, Direct Edge
Thomas Perna, Quadriserv, Inc.
11-11:10 a.m. - Break
11:10-12:25 p.m. - Panel 2Making Short Sale Disclosure More Meaningful: Public versus Non-Public Reporting; Consolidated Tape Disclosure; Timeliness of Information
Professor James Angel, Georgetown University
David Carruthers, Data Explorers
Richard Gates, TFS Capital LLC
Michael Gitlin, T. Rowe Price
Jesse Greene, IBM
Joseph Mecane, NYSE Euronext
Michael Treip, UK Financial Services Authority
12:25-12:30 p.m.Closing Remarks from SEC Chairman Mary L. Schapiro
# # #
http://www.sec.gov/news/press/2009/2009-207.htm

SEC to Hold Securities Lending and Short Sale Roundtable

2009-09-14T11:24:00.000-07:00

FOR IMMEDIATE RELEASE2009-196
Washington, D.C., Sept. 11, 2009 — The Securities and Exchange Commission will hold a roundtable about securities lending and short sale issues on September 29 and September 30.
Additional Materials
Notice of Roundtable Discussion; Request for Comment View comments -->
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The roundtable will feature an in-depth review of securities lending practices and also analyze possible short sale pre borrowing requirements and additional short sale disclosures. Panelists are expected to include investors, corporate issuers, financial services firms, beneficial owner lenders, lending agents, borrowers of securities, self-regulatory organizations, international regulators and the academic community.
The roundtable agenda is available. The list of panelists will be announced at a later date.
The roundtable discussion will be held in the auditorium at SEC headquarters at 100 F Street NE in Washington, D.C. On September 29, the roundtable will focus on securities lending issues and take place from 9:30 a.m. to approximately 4 p.m. On September 30, the roundtable will focus on short sale pre-borrowing and additional short sale disclosures and take place from 9:30 a.m. to approximately 12:30 p.m.
The public is invited to observe the roundtable discussion. Seating will be available on a first-come, first-served basis. The roundtable discussion also will be available via webcast on the SEC Web site.
For additional information about the roundtable, contact the SEC's Division of Trading and Markets

NYSE Group Inc. Issues Short Interest Report

2009-09-10T19:29:00.000-07:00

NYSE Group Inc. Issues Short Interest Report
New York, September 10, 2009 --The NYSE Group, Inc. today reported short interest as of the close of business on the settlement date of August 31, 2009.Based on information received from members and member organizations, short interest decreased to 13,785,419,814 (revised) shares from 14,129,801,752 shares on August 14, 2009. This was an decrease of 344,381,938 shares.The short interest on August 31 was equal to 3.61 percent of the total shares outstanding.The short interest in warrants as of August 31 amounted to 34,904 warrants, compared to 67,122 warrants the previous period.As of the settlement date, there were 4,075 stocks and 9 warrants available for trading. Of these, 3,395 issues had either a short position of at least 5,000 shares or a change of 2,000 shares since the last monthly report.A short sale is any sale of a security that the seller does not own or any sale that is completed by the delivery of a borrowed security.
Adjusted short interest for the preceeding 12 months:
August 31, 2009
13,785,419,814
August 14, 2009
14,129,801,752
July 31, 2009
14,019,075,490
July 15, 2009
15,637,748,052
June 30, 2009
15,570,613,801
June 15, 2009
15,348,185,008
May 29, 2009
15,146,892,934
May 15, 2009
15,140,539,571
April 30, 2009
15,173,139,551
April 15, 2009
15,640,165,370
March 31, 2009
16,173,689,617
March 13, 2009
16,169,344,115
February 27, 2009
14,608,255,028
February 13, 2009
14,188,847,789
January 30, 2009
13,427,741,819
January 15, 2009
13,357,565,273
December 31, 2008
13,129,000,164
December 15, 2008
13,597,848,531
November 28, 2008
14,773,724,226
November 14, 2008
14,184,494,648
October 31, 2008
13,829,207,377
October 15, 2008
13,584,588,896
September 30, 2008
14,840,183,359
September 15, 2008
17,137,639,017
http://www.nyse.com/press/1252577825152.html?sa_campaign=/rss/newsreleases/NYSE.comNewsReleases

Stock Loan Diciplinary Action

2009-08-26T11:18:00.000-07:00

FINRA Fines Raymond James, RBC CapitalMarkets Corporation, Stock
Loan Trader for Improper Stock Loan Practices
Firms Pay Total of $1.4Million for Stock Loan Improprieties, Supervisory Deficiencies,
Trader Suspended and Fined
The Financial Industry Regulatory Authority (FINRA) announced that as part of its
in-depth investigation of stock loan practices in the industry, it has imposed a fine of
$1million against Raymond James & Associates, Inc. of St. Petersburg, FL, and a fine of
$400,000 against RBC CapitalMarkets Corporation of NewYork, for various stock loan
improprieties.
Raymond James was sanctioned formaking unjustified and improper payments to
finder firms that provided no service in locating securities or had no involvement in the
stock loan transaction for which they were paid. Raymond James and RBCCMC were
both fined for using a non-registered individual, who had been convicted in federal
court of securities law violations and had been barred fromthe securities industry by
the Securities and Exchange Commission (SEC), to performstock loan functions
requiring registration.
Benedict Patrick Tommasino, the head trader of RBCCMC’s Stock Loan Department was
was suspended for 20months fromworking for a securities firmin any capacity, was
suspended an additional twomonths fromacting in a principal capacity and was fined
$30,000 for his role in themisconduct.
“Finders for stock loan transactions can play an important role in themarkets by
assisting borrowers in locating securities, especially hard-to-borrow stocks,” said Susan
Merrill, FINRA Executive Vice President and Chief of Enforcement. “But Raymond James
tradersmade unjustified payments to finders who provided no service.Moreover, both
firms exposed themarket to the activities of an unqualified and unsupervised
individual by allowing a non-registered person who had been barred fromthe securities
industry to performstock loan functions.”
During 2004, Raymond James, on various occasions paid finders in connection with
stock loan transactions when there was no apparent justification for the finder
payments.

For example, a review of stock loan transactions on four days inMarch and April 2004
revealed 11 transactions for which two finder firms were paid despite having
performed no service, including one finder firmwhere a Raymond James stock loan
trader’s son was an employee. In addition, Raymond James’s books and records
inaccurately reflected that a finder had provided services in connection with certain
stock loan transactions in exchange for payment when, in fact, the purported finder
had not performed any function.
In 2004, Raymond James and RBCCMC each allowed Dennis Palmeri, Sr. of Shields
Institutional, a non-registered finder, to performstock loan functions requiring
registration. In February 1994, Palmeri was convicted in federal court of aiding and
abetting his then-employer’s violation of federal securities laws. The SEC then barred
Palmeri fromworking for any broker dealer, investment advisor or investment company.
The bar did not preclude Palmeri fromacting as a non-registered finder, but does
preclude himfromperforming functions requiring registration.
FINRA further found that these activities occurred because Raymond James and
RBCCMC each failed to reasonably supervise the activities of their respective Stock
Loan Departments.
In concluding these settlements, neither Raymond James, RBCCMC nor Tommasino
admitted nor denied the charges, but consented to the entry of FINRA’s findings.

http://www.finra.org/web/groups/industry/@ip/@enf/@da/documents/disciplinaryactions/p119808.pdf

FINRA Disciplinary action against Stock Loan

2009-06-15T08:32:00.000-07:00

Excerpt from April 2009 FINRA Disciplinary Actions

National Investor Services Corp. (CRD #39410, Bellevue, Nebraska) submitted a Letter
of Acceptance,Waiver and Consent in which the firmwas censured and fined $75,000. Without admitting or denying the findings, the firmconsented to the described sanctions and to the entry of findings that it failed to establish,maintain and enforce an adequate supervisory systemand written supervisory procedures to supervise its securities lending business and registered securities lending representatives to prevent and detect fraudulent activity. The findings stated that the firmdid not include a description of what managers were to look for in reviewing Loanet reports, the steps to be taken if questionable activity was discovered, and how to document andmaintain documentation of supervisors’ oversight activities. The findings also stated that the
firmfailed to take steps to detect and prevent a registered representative from participating in fraudulent stock loan transactions for his personal benefit. The findings also included that the firmfailed to establish andmaintain a separate systemof followup and review to ensure that delegated supervisory authority and responsibility were being properly exercised. FINRA found that the firmpermitted a stock loan supervisor to review his own transactions.
(FINRA Case #2007011877701)
http://www.finra.org/web/groups/industry/@ip/@enf/@da/documents/disciplinaryactions/p118481.pdf

The Stock Loan Report #2

2009-04-29T12:56:00.000-07:00

The Stock Loan Report is still here and it will stay here. Some day I will post on a blog on a regular basis. That day may never come, but until that day, remember The Stock Loan Report is here for all to see.

Thestockloanreport #1

2007-01-04T04:39:00.001-08:00