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  • Remarks At University Of South Carolina And UNC-Charlotte 4th Annual Fixed Income Conference, SEC Commissioner Michael S. Piwowar, April 21, 2015

    Date 21/04/2015

    Thank you, Jean [Helwege] and Dolly [King], for inviting me to speak at this great conference. I always enjoy getting back to college campuses and spending time with students and fellow academics. Of course, I am using the term “fellow academics” a bit loosely. Although I spent my early career producing academic research, my intervening years in Washington, DC probably make it more accurate to call me a “reformed academic.” The reality is that I am now strictly a consumer of your scholarly work. In my current role, I am constantly reminded of the value of quality academic research to our financial markets, and more specifically the great insights it can provide to financial regulators. Research is particularly important in the area that is the focus of this conference: fixed income markets.

  • CFTC Charges U.K. Resident Navinder Singh Sarao And His Company Nav Sarao Futures Limited PLC With Price Manipulation And Spoofing - The CFTC Complaint Alleges That Defendants’ Manipulative Conduct Contributed To The Market Conditions That Led To The May 6, 2010 Flash Crash

    Date 21/04/2015

    The U.S. Commodity Futures Trading Commission (CFTC) today announced the unsealing of a civil enforcement action in the U.S. District Court for the Northern District of Illinois against Nav Sarao Futures Limited PLC (Sarao Futures) and Navinder Singh Sarao (Sarao) (collectively, Defendants).  The CFTC Complaint charges the Defendants with unlawfully manipulating, attempting to manipulate, and spoofing — all with regard to the E-mini S&P 500 near month futures contract (E-mini S&P). The Complaint had been filed under seal on April 17, 2015 and kept sealed until today’s arrest of Sarao by British authorities acting at the request of the U.S. Department of Justice (DOJ).  After the arrest, the DOJ unsealed its own criminal Complaint charging Sarao with substantively the same misconduct. 

  • Futures Trader Charged With Illegally Manipulating Stock Market, Contributing To The May 2010 Market ‘Flash Crash’

    Date 21/04/2015

    A futures trader was arrested in the United Kingdom today on U.S. wire fraud and commodities fraud and manipulation charges in connection with his alleged role in the May 2010 “Flash Crash,” when the Dow Jones Industrial Average plunged 600 points in five minutes, announced Assistant Attorney General Leslie R. Caldwell of the Justice Department’s Criminal Division and Special Agent in Charge Robert J. Holley of the FBI’s Chicago Division.

  • Information Mosaic Wins Best Operational Risk Management Solution And Excellence Award

    Date 21/04/2015

    Information Mosaic (IM), leaders in global post-trade securities processing have won the Best Operational Risk Management Solution which will be presented to IM at the annual SecOps USA conference to be held  in New York City on the 1st and 2nd of June. IM are also winners of the FTF Excellence award, which will also be presented to IM at the SecOps Gala Dinner to be held at the famous Rainbow Room, Rockefeller Plaza.

  • Dubai Financial Market PJSC Board Of Directors' Meeting

    Date 21/04/2015

    The Board of Directors' of Dubai Financial Market PJSC will hold a Board of Directors' Meeting on Sunday 26/4/2015, at 2:00 PM at Borse Dubai to discuss the financial performance of the company and approve the Review report and condensed consolidated interim financial information for the three month period ended 31 March 2015. The Board will also iscuss the normal business activities and any business issues as arise.