News Centre

The Role Of Chief Compliance Officers Must Be Supported, SEC Commissioner Luis A. Aguilar, U.S. Securities And Exchange Commission[*], June 29, 2015

Date 30/06/2015

Chief Compliance Officers of Investment Advisers (CCOs)[1] play an important and crucial role in fostering integrity in the securities industry. They are responsible for making sure that their firms comply with the rules that apply to their operations. As part of that effort, CCOs typically work with senior corporate leadership to instill a culture of compliance, nurture an environment where employees understand the value of honesty and integrity, and encourage everyone to take compliance issues seriously. CCOs of investment advisers (as with CCOs of other regulated entities) also work to prevent violations from occurring in the first place and, thus, prevent violations from causing harm to the firm, its investors, and market participants. Given the vital role that CCOs play, they need to be supported. Simply stated, the Commission needs capable and honest CCOs to help protect investors and the integrity of the capital markets.

Network And Information Security: Breakthrough In Talks With European Parliament

Date 29/06/2015

On 29 June 2015, the Latvian presidency of the Council reached an understanding with the European Parliament on the main principles to be included in the draft directive on network and information security (NIS). These principles will then need to be turned into legal provisions to allow for a final deal on the directive at a later stage. The presidency will present the outcome of this fourth trilogue to member states' ambassadors at the meeting of the Permanent Representatives Committee on 30 June.

Nasdaq Welcomes Latvenergo's First Green Bonds To Nasdaq Baltic Market

Date 29/06/2015

Nasdaq (Nasdaq: NDAQ) announces that as of July 1, 2015 the first green bonds of Latvenergo AS (trading ticker: ELEK019022A), the Latvian energy company, will be listed on the Nasdaq Baltic Bond List by Nasdaq Riga.

Office Of The Comptroller Of The Currency Reports First Quarter Bank Trading Revenue Of $7.7 Billion

Date 29/06/2015

Insured U.S. commercial banks and savings institutions reported trading revenue of $7.7 billion in the first quarter of 2015, $3.2 billion higher (72 percent) than in the fourth quarter, the Office of the Comptroller of the Currency (OCC) reported today in the OCC's Quarterly Report on Bank Trading and Derivatives Activities. Trading revenue in the first quarter was $1.5 billion higher (24 percent) than in the first quarter of 2014.

Statement Of CFTC Commissioner Mark P. Wetjen On The Proposed On Cross Border Margin (Washington, DC)

Date 29/06/2015

Today’s release lays out a proposed framework for the application of the commission’s margin rules to un-cleared swaps (the “Margin Rule”) in cross-border transactions. Interestingly, the release states that there was no consensus among those who filed comments in response to the commission’s Advance Notice of Proposed Rulemaking (“ANPR”) last fall, which laid out three alternative, cross-border approaches: the Guidance Approach, the Prudential Regulators’ Approach, and the Entity Approach. To the extent, therefore, that the release was designed to identify a consensus view concerning which of these three approaches was best, it failed.

EU-China Joint Statement On Climate Change

Date 29/06/2015

1. The EU and China (hereinafter referred to as 'the Two Sides') recognise their critical roles in combating global climate change, one of the greatest threats facing humanity. The seriousness of the challenge calls upon the two sides to work constructively together for the common good, in the context of sustainable economic and social development.

Concurring Statement Of CFTC Commissioner Sharon Y. Bowen On Cross Border Margin (Washington, DC)

Date 29/06/2015

I'm pleased to support this new proposed rule on cross-border application of uncleared margin requirements for swap dealers and major swap participants. Margin requirements for uncleared swaps, needless to say, are a core piece of the new regulatory regime we are establishing as required by the Dodd-Frank Wall Street Reform and Consumer Protection Act.

MGEX Sets Pair Of Top 10 Daily Volume Records

Date 29/06/2015

MGEX, a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO), set top 10 daily records in both total volume and electronic volume on Friday. Total volume was the 7th-best ever, coming in at 20,289, while electronic volume finished the day at 18,965, which is 3rd-best on the electronic daily volume charts.

Statement Of CFTC Commissioner J. Christopher Giancarlo On The Proposed Rule On The Cross-Border Application Of The Margin Requirements (Washington, DC)

Date 29/06/2015

The Commission’s proposal for the cross-border application of margin requirements for uncleared swaps is a highly complicated labyrinth. I look forward to the jolt to U.S. economic growth that will occur in the 3rd quarter of 2015 as a result of the thousands of billable hours that will be expended by lawyers and other professionals, who will have to read, interpret and respond to this tangled regulatory construct.

TTIP: MEPs Pave Way For Plenary Vote By Retabling June Amendments

Date 29/06/2015

International Trade Committee MEPs on Monday paved the way for a plenary vote on the European Parliament’s draft recommendations for Transatlantic Trade and investment partnership (TTIP) negotiators, by retabling the June plenary amendments which had been referred back for reconsideration. The committee took the decision in two separate votes –one to retable the plenary amendments, and the other to retable requests for split or separate votes.