Latest Regulatory Announcements
FIA Warns of Increased Market Fragmentation Caused by Regulation
FIA President and CEO Walt Lukken today released a white paper that expresses FIA’s concerns about increased market fragmentation of the global listed and cleared derivatives markets due to inconsistent and duplicative regulatory frameworks. Further, the paper urges regulators to embrace the principles of reliance and regulatory cooperation and makes recommendations on how to avoid increased fragmentation in the regulation of cross-border activity in the global derivatives markets.
Expiry Dates on all Financial Markets Conduct Act Licences to be Removed
The Financial Markets Authority (FMA) is to remove the expiry dates for all licences issued under the Financial Markets Conduct Act 2013 in a process expected to be complete by the middle of 2019.
First Meeting of the PRA and FCA’s joint Climate Financial Risk Forum
On Friday 8 March, the PRA and FCA hosted the first meeting of the Climate Financial Risk Forum (CFRF). The objective of the CFRF is to build capacity and share best practice across financial regulators and industry to advance financial sector responses to the financial risks from climate change.
Intercontinental Exchange Announces Record Trading in TTF Natural Gas and JKM LNG (Platts) Contracts
LONDON–(BUSINESS WIRE)– Intercontinental Exchange (NYSE:ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, today announced record trading in February in the TTF Natural Gas and JKM LNG (Platts) contracts.
Remarks of FIA President and CEO Walt at Boca 2019
Welcome everyone to Boca 2019, the 44th annual gathering of the futures and derivatives industry in south Florida, or as Jeremy Grant, the former FT journalist, termed it, “Best Industry Event—Ever.” Or put another way – Boca means business!
IIROC and Canadian Securities Administrators consult on internalization in equity market
The Investment Industry Regulatory Organization of Canada (IIROC) and the Canadian Securities Administrators (CSA), today published a consultation paper to seek input on internalization practices on Canadian equity marketplaces and how these activities fit within the regulators’ rule framework.
IS Prime Taps Claudia Lucas to Institutional Sales Team
IS Prime, the multi-asset execution provider for institutional market participants, has appointed Claudia Lucas to integrate its institutional sales team and leverage her experience as a business development executive and native Spanish speaking skills.
Mutual Recognition of Certain Derivatives Trading Venues in the United States and Singapore
Joint Statement of the CFTC and the Monetary Authority of Singapore Regarding the Mutual Recognition of Certain Derivatives Trading Venues in the United States and Singapore
FIA Announces Diversity Initiative
FIA recognizes the benefits that diversity and inclusion can bring to an organization. FIA is committed to fostering diversity and inclusion and will strive to encourage, support and celebrate the diverse voices both within the organization and the industry at large.
Wedbush Settles Failure to Supervise Charge
The Securities and Exchange Commission announced today that Wedbush Securities Inc. will pay a $250,000 penalty and has agreed to be censured to settle its failure to supervise charge in a pending administrative proceeding.
Report from FINRA Board of Governors Meeting – February/March 2019
Board Approves Rule Proposals, Engages with Boca Raton-Area Firms
AMP and Clayton Utz surrender in ASIC court battle over failure to produce documents
ASIC commenced Federal Court proceedings against AMP and Clayton Utz in December 2018 (18-379MR), seeking an order compelling Clayton Utz to produce the interview notes.
ASIC reports on corporate finance regulation – July to December 2018
The report explains the approach ASIC takes in these areas, including the conduct that has caused us to intervene, our response to novel issues seen in transactions during the period, as well as offering insights into future areas of focus.
Foreign Trading Platform and Its CEO to Pay $990,000 for Illegal Bitcoin-Related Transactions with U.S. Customers
The Commodity Futures Trading Commission (CFTC) announced today that a federal court entered a Consent Order (Order) resolving a CFTC action against 1pool Ltd., located in the Marshall Islands, and its chief executive officer and owner, Patrick Brunner, for illegally offering retail commodity transactions that were margined in bitcoin, failing to register as a futures commission merchant (FCM), and failing to meet its supervisory duties by not having the required anti-money laundering procedures in place.
SEC Share Class Initiative Returning More Than $125 Million to Investors
Reflecting SEC’s Commitment to Retail Investors, 79 Investment Advisers Who Self-Reported Advisers Act Violations Agree to Compensate Investors Promptly, Ensure Adequate Fee Disclosures
SEC Charges Lumber Liquidators With Fraud
The Securities and Exchange Commission today announced charges against Lumber Liquidators Holdings Inc. for making fraudulent misstatements to investors. The charges stem from Lumber Liquidators’ false public statements in response to media allegations that the company was selling laminate flooring that contained levels of formaldehyde exceeding regulatory standards. Lumber Liquidators agreed to pay more than $6 million to settle the SEC action.
Fee Rate Advisory #2 for Fiscal Year 2019
The Securities and Exchange Commission today announced that starting on April 16, 2019, the fee rate applicable to most securities transactions will be set at $20.70 per million dollars.
DGCX to Launch Base Metals Product Suite
The Dubai Gold & Commodities Exchange (DGCX) and Dubai Commodities Clearing Corporation (DCCC) today announced an expansion to their existing portfolio of metals products with the launch of new base metal products. The two new products, Aluminium Futures and Zinc Futures, will go live on Friday 22nd March, 2019.
Financial Commission Announces DealFX as Latest Approved Member
DealFX status as an A-category Member of the Financial Commission took effect on March 6, 2019, following the approval of its membership application by the Financial Commission, thus allowing the company and its customers access to a wide range of services and membership benefits including, but not limited to, protection for up to €20,000 per submitted complaint, backed by the Financial Commission’s compensation fund
SET Market Report for February 2019
The Stock Exchange of Thailand (SET) Index at the end of February rosed 5.7 percent from end-2018 to 1,653.48 points, in tandem with other Asian bourses. The average daily trading value of SET and Market for Alternative Investment (mai) in February amounted to THB 46.77 billion (approx. USD 1.46 billion), down 3.7 percent from the previous month. Local institutional investors and proprietary traders were net buyers in February.
