Spdr S&P Oil & Gas Exploration & Production Etf V.XOP.W

Primary Symbol: XOP

The investment seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of an index derived from the oil and gas exploration and production segment of a U. In seeking to track the performance of the S&P Oil & Gas Exploration & Production Select Industry Index, the fund employs a sampling strategy. It generally invests substantially all, but at least 80%, of its total assets in the securities comprising the index. The index represents the oil and gas exploration and production segment of the S&P Total Market Index (S&P TMI).

ARCA:XOP - Post by User

Spdr S&P Oil & Gas Exploration & Production Etf

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Comment by CalifDreamingon Sep 03, 2011 9:36pm

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Post# 19010341

RE: Velo Illegal Insider Trading Probe

Once a scumbag, always a scumbag...

West Vancouver stock promoter accused of insider trading

BY JANE SEYD, NORTH SHORE NEWSAUGUST 10, 2011

The B.C. Securities Commission has ordered a hearing into the activities of a West Vancouver stock promoter who has been accused of illegally turning a profit using inside information about a possible merger.
Photograph by: Terry Peters, North Shore News
A West Vancouver stock promoter has been accused of turning a profit through illegal insider trading by the B.C. Securities Commission.
The executive director of the securities commission has ordered a hearing into the activities of Jerome John Rak, who is alleged to have flouted securities laws when he bought shares in an Alberta company with knowledge that was not yet available to the general public.
According to the notice of hearing, on Aug. 4, 2009, Rak met with Arthur Millholland, former president and chief executive officer (CEO) of Oilexco Inc., in West Vancouver, to discuss the possibility of Millholland merging with another company, Velo, and becoming its president and CEO.
The next day, Millholland began drafting a news release that would announce he had become the new president of Velo and sent that draft to Rak.
Between Aug. 5 and 7, before that news had become public, Rak is alleged to have bought 172,000 shares of Velo through a B.C. company called Belmont.
At the end of the day on Friday, Aug. 7, 2009, the company’s share price closed at 20 cents. Velo then issued the news release. On Aug. 10, the next trading day, the share price rose to a high of 49.5 cents.
Rak is accused of using insider knowledge of what was about to transpire at the company to make money, known as insider trading.
A date for the hearing will be set Sept. 19.
It isn’t the first time Rak has been in trouble with the securities commission.
In 1988 he was banned from trading for eight years for what the commission described as “serious breaches of the act and other actions contrary to the public interest.”
In handing down its decision at that time, the commission said Rak’s activities reflected “a blatant disregard of securities law and exemplify the practices which can bring securities markets into disrepute.”

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