{"id":49753,"date":"2018-10-01T21:30:00","date_gmt":"2018-10-02T01:30:00","guid":{"rendered":"https:\/\/prefblog.com\/?p=49753"},"modified":"2025-08-25T21:31:19","modified_gmt":"2025-08-26T01:31:19","slug":"october-1-2018","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=49753","title":{"rendered":"October 1, 2018"},"content":{"rendered":"

Well, that was quick<\/a>:<\/p>\n

The Securities and Exchange Commission announced today that Elon Musk, CEO and Chairman of Silicon Valley-based Tesla, Inc., has agreed to settle the securities fraud charge brought by the SEC against him last week. The SEC also today charged Tesla with failing to have required disclosure controls and procedures relating to Musk\u2019s tweets, a charge that Tesla has agreed to settle. The settlements, which are subject to court approval, will result in comprehensive corporate governance and other reforms at Tesla\u2014including Musk\u2019s removal as Chairman of the Tesla board\u2014and the payment by Musk and Tesla of financial penalties.
…<\/b>
Musk and Tesla have agreed to settle the charges against them without admitting or denying the SEC\u2019s allegations. Among other relief, the settlements require that:
\n\u2022Musk will step down as Tesla\u2019s Chairman and be replaced by an independent Chairman. Musk will be ineligible to be re-elected Chairman for three years;
\n\u2022Tesla will appoint a total of two new independent directors to its board;
\n\u2022Tesla will establish a new committee of independent directors and put in place additional controls and procedures to oversee Musk\u2019s communications;
\n\u2022Musk and Tesla will each pay a separate $20 million penalty. The $40 million in penalties will be distributed to harmed investors under a court-approved process.<\/p>\n<\/blockquote>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
HIMIPref™ Preferred Indices
These values reflect the December 2008 revision of the HIMIPref™ Indices<\/strong>
Values are provisional and are finalized monthly<\/td>\n<\/tr>\n
Index<\/td>\nMean
Current
Yield
(at bid)<\/td>\n		Median
YTW<\/td>\n		Median
Average
Trading
Value<\/td>\n		Median
Mod Dur
(YTW)<\/td>\n		Issues<\/td>\nDay’s Perf.<\/td>\nIndex Value<\/td>\n<\/tr>\n
Ratchet<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.6030 %<\/td>\n3,149.4<\/td>\n<\/tr>\n
FixedFloater<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.6030 %<\/td>\n5,778.9<\/td>\n<\/tr>\n
Floater<\/td>\n3.45 %<\/td>\n3.65 %<\/td>\n33,620<\/td>\n18.21<\/td>\n4<\/td>\n0.6030 %<\/td>\n3,330.4<\/td>\n<\/tr>\n
OpRet<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.1347 %<\/td>\n3,225.8<\/td>\n<\/tr>\n
SplitShare<\/td>\n4.61 %<\/td>\n4.69 %<\/td>\n54,555<\/td>\n4.76<\/td>\n5<\/td>\n-0.1347 %<\/td>\n3,852.3<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.1347 %<\/td>\n3,005.7<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.55 %<\/td>\n-5.88 %<\/td>\n49,823<\/td>\n0.09<\/td>\n12<\/td>\n0.1019 %<\/td>\n2,928.3<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n5.43 %<\/td>\n5.57 %<\/td>\n61,970<\/td>\n14.50<\/td>\n21<\/td>\n0.0599 %<\/td>\n3,004.7<\/td>\n<\/tr>\n
FixedReset Disc<\/td>\n4.17 %<\/td>\n5.01 %<\/td>\n129,204<\/td>\n15.44<\/td>\n43<\/td>\n0.4004 %<\/td>\n2,599.7<\/td>\n<\/tr>\n
Deemed-Retractible<\/td>\n5.17 %<\/td>\n5.99 %<\/td>\n57,727<\/td>\n5.33<\/td>\n27<\/td>\n-0.1410 %<\/td>\n2,991.5<\/td>\n<\/tr>\n
FloatingReset<\/td>\n3.46 %<\/td>\n3.62 %<\/td>\n37,463<\/td>\n5.63<\/td>\n4<\/td>\n0.0737 %<\/td>\n2,857.8<\/td>\n<\/tr>\n
FixedReset Prem<\/td>\n4.85 %<\/td>\n4.04 %<\/td>\n222,034<\/td>\n2.84<\/td>\n34<\/td>\n-0.1314 %<\/td>\n2,574.0<\/td>\n<\/tr>\n
FixedReset Bank Non<\/td>\n3.20 %<\/td>\n3.74 %<\/td>\n67,530<\/td>\n0.39<\/td>\n9<\/td>\n0.1298 %<\/td>\n2,576.6<\/td>\n<\/tr>\n
FixedReset Ins Non<\/td>\n4.30 %<\/td>\n5.08 %<\/td>\n86,097<\/td>\n5.41<\/td>\n22<\/td>\n0.2978 %<\/td>\n2,602.4<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Performance Highlights<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nChange<\/td>\nNotes<\/td>\n<\/tr>\n
TD.PF.J<\/td>\nFixedReset Prem<\/td>\n-9.02 %<\/td>\nA nonsensical quote from Nonsense Central, as this issue traded 1200 shares today, all at 25.54 before being quoted at 23.10-25.54 by the Exchange. <\/p>\n

I have not checked whether this lamentable state of affairs is due to inadequate Toronto Stock Exchange reporting<\/a> or inadequate Toronto Stock Exchange supervision of market-makers<\/a>.<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2048-10-01
\nMaturity Price : 22.36
\nEvaluated at bid price : 23.10
\nBid-YTW : 5.40 %<\/td>\n<\/tr>\n

CU.PR.I<\/td>\nFixedReset Prem<\/td>\n-1.33 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2020-12-01
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.95
\nBid-YTW : 2.87 %<\/td>\n<\/tr>\n
SLF.PR.A<\/td>\nDeemed-Retractible<\/td>\n-1.30 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 22.01
\nBid-YTW : 7.18 %<\/td>\n<\/tr>\n
MFC.PR.B<\/td>\nDeemed-Retractible<\/td>\n-1.05 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 21.70
\nBid-YTW : 7.37 %<\/td>\n<\/tr>\n
IFC.PR.A<\/td>\nFixedReset Ins Non<\/td>\n1.04 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 20.33
\nBid-YTW : 7.35 %<\/td>\n<\/tr>\n
MFC.PR.F<\/td>\nFixedReset Ins Non<\/td>\n1.08 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 18.80
\nBid-YTW : 8.15 %<\/td>\n<\/tr>\n
SLF.PR.G<\/td>\nFixedReset Ins Non<\/td>\n1.22 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 19.94
\nBid-YTW : 7.41 %<\/td>\n<\/tr>\n
BAM.PR.C<\/td>\nFloater<\/td>\n1.43 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2048-10-01
\nMaturity Price : 17.75
\nEvaluated at bid price : 17.75
\nBid-YTW : 3.66 %<\/td>\n<\/tr>\n
BAM.PR.R<\/td>\nFixedReset Disc<\/td>\n1.58 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2048-10-01
\nMaturity Price : 21.18
\nEvaluated at bid price : 21.18
\nBid-YTW : 5.21 %<\/td>\n<\/tr>\n
TRP.PR.C<\/td>\nFixedReset Disc<\/td>\n2.55 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2048-10-01
\nMaturity Price : 18.10
\nEvaluated at bid price : 18.10
\nBid-YTW : 5.07 %<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n
Volume Highlights<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nShares
Traded<\/td>\n		Notes<\/td>\n<\/tr>\n
TRP.PR.J<\/td>\nFixedReset Prem<\/td>\n107,950<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2021-05-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.50
\nBid-YTW : 3.33 %<\/td>\n<\/tr>\n
BMO.PR.D<\/td>\nFixedReset Prem<\/td>\n80,400<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2022-08-25
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.30
\nBid-YTW : 4.21 %<\/td>\n<\/tr>\n
TRP.PR.A<\/td>\nFixedReset Disc<\/td>\n77,090<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2048-10-01
\nMaturity Price : 20.65
\nEvaluated at bid price : 20.65
\nBid-YTW : 5.09 %<\/td>\n<\/tr>\n
BNS.PR.H<\/td>\nFixedReset Prem<\/td>\n76,900<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2022-01-26
\nMaturity Price : 25.00
\nEvaluated at bid price : 26.01
\nBid-YTW : 3.46 %<\/td>\n<\/tr>\n
BMO.PR.E<\/td>\nFixedReset Prem<\/td>\n73,708<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2023-11-25
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.18
\nBid-YTW : 4.76 %<\/td>\n<\/tr>\n
TRP.PR.E<\/td>\nFixedReset Disc<\/td>\n52,600<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2048-10-01
\nMaturity Price : 22.07
\nEvaluated at bid price : 22.72
\nBid-YTW : 5.09 %<\/td>\n<\/tr>\n
There were 34 other index-included issues trading in excess of 10,000 shares.<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n
Wide Spread Highlights<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nQuote Data and Yield Notes<\/td>\n<\/tr>\n
TD.PF.J<\/td>\nFixedReset Prem<\/td>\nQuote: 23.10 – 25.54
\nSpot Rate : 2.4400
\nAverage : 1.3610<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2048-10-01
\nMaturity Price : 22.36
\nEvaluated at bid price : 23.10
\nBid-YTW : 5.40 %<\/td>\n<\/tr>\n

RY.PR.H<\/td>\nFixedReset Disc<\/td>\nQuote: 23.62 – 24.00
\nSpot Rate : 0.3800
\nAverage : 0.2408<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2048-10-01
\nMaturity Price : 23.03
\nEvaluated at bid price : 23.62
\nBid-YTW : 4.85 %<\/td>\n<\/tr>\n

SLF.PR.E<\/td>\nDeemed-Retractible<\/td>\nQuote: 21.38 – 21.74
\nSpot Rate : 0.3600
\nAverage : 0.2211<\/p>\n

YTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 21.38
\nBid-YTW : 7.45 %<\/td>\n<\/tr>\n

SLF.PR.A<\/td>\nDeemed-Retractible<\/td>\nQuote: 22.01 – 22.37
\nSpot Rate : 0.3600
\nAverage : 0.2601<\/p>\n

YTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 22.01
\nBid-YTW : 7.18 %<\/td>\n<\/tr>\n

BAM.PR.M<\/td>\nPerpetual-Discount<\/td>\nQuote: 20.75 – 21.07
\nSpot Rate : 0.3200
\nAverage : 0.2204<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2048-10-01
\nMaturity Price : 20.75
\nEvaluated at bid price : 20.75
\nBid-YTW : 5.77 %<\/td>\n<\/tr>\n

EIT.PR.A<\/td>\nSplitShare<\/td>\nQuote: 25.00 – 25.30
\nSpot Rate : 0.3000
\nAverage : 0.2067<\/p>\n

YTW SCENARIO
\nMaturity Type : Soft Maturity
\nMaturity Date\t: 2024-03-14
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.00
\nBid-YTW : 4.87 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Well, that was quick: The Securities and Exchange Commission announced today that Elon Musk, CEO and Chairman of Silicon Valley-based Tesla, Inc., has agreed to settle the securities fraud charge brought by the SEC against …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[],"class_list":["post-49753","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/49753","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=49753"}],"version-history":[{"count":1,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/49753\/revisions"}],"predecessor-version":[{"id":49754,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/49753\/revisions\/49754"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=49753"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=49753"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=49753"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}