INTL FCStone 2013 Annual Report Download - page 44

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INTLFCSTONEINC.Form10K 23
PART I
ITEM 3Legal Proceedings
We are reviewing EMIR and the related technical standards
published by the European Securities and Markets Authority
and developing a plan to address these requirements.
We are also reviewing the amendments to the Markets in Financial
Instruments Directive and the Markets in Financial Instruments
Regulation to assess the impact this legislation is likely to have
on our business when they come into force in 2014 or 2015.
Among other things, the legislation will require certain over-
the-counter derivatives to be traded on exchanges and other
electronic trading platforms.
If we are unable to manage any of these risks eectively, our
business could be adversely aected.
ITEM 1B Unresolved Sta Comments
We have received no written comments regarding our periodic or current reports from the sta of the SEC that were issued 180 days
or more preceding the end of our scal year 2013 that remain unresolved.
ITEM 2 Properties
e Company maintains oces in New York, New York; Winter
Park, Florida; West Des Moines, Iowa; Chicago, Illinois; Kansas
City, Missouri; St. Louis, Missouri; Bloomeld, Nebraska; Omaha,
Nebraska; Minneapolis, Minnesota; Bloomington, Illinois;
Miami, Florida; New Smyrna Beach, Florida; Indianapolis,
Indiana; Spirit Lake, Iowa; Bowling Green, Ohio; Nashville,
Tennessee; Golden, Colorado; Lawrence, Kansas; Winnipeg,
Canada; Buenos Aires, Argentina; Campinas, Brazil; Sao Paulo,
Brazil; Maringa, Brazil; Porto Alegre, Brazil; Goianai, Brazil;
Recife, Brazil; Asuncion, Paraguay; London, United Kingdom;
Dublin, Ireland; Dubai, United Arab Emirates; Singapore,
Singapore; Beijing and Shanghai, China; and Sydney, Australia.
All of our oces and other principal business properties are
leased, except for the space in Buenos Aires, which we own.
We believe that our leased and owned facilities are adequate to
meet anticipated requirements for our current lines of business.
ITEM 3 Legal Proceedings
In addition to the matters discussed below, from time to time
and in the ordinary course of business, we are involved in various
legal actions and proceedings, including tort claims, contractual
disputes, employment matters, workers’ compensation claims
and collections. We carry insurance that provides protection
against certain types of claims, up to the policy limits of our
insurance. In the opinion of management, possible exposure
from loss contingencies in excess of the amounts accrued, and
in addition to the possible losses discussed below, is not likely
to be material to our earnings, nancial position or liquidity.
e following is a summary of our signicant legal matters.
Securities Litigation and Regulatory
Proceedings
FCStone and certain ocers of FCStone were defendants in an
action led in the United States District Court for the Western
District of Missouri in July 2008. Plaintis subsequently led a
consolidated amended complaint (“CAC”) in September 2009.
As alleged in the CAC, the action purports to be brought as a
class action on behalf of purchasers of FCStone common stock
between November 15, 2007 and February 24, 2009. e CAC
seeks to hold defendants liable under Section 10(b) and Section
20(a) of the Securities Exchange Act of 1934 and concerns