News Centre

Federal Reserve Board Announces Banking Entities Have Until July 21, 2016, To Conform Investments In And Relationships With Covered Funds And Foreign Funds That Were In Place Prior To December 31, 2013

Date 18/12/2014

The Federal Reserve Board announced on Thursday that it has acted under section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, commonly known as the Volcker Rule, to give banking entities until July 21, 2016, to conform investments in and relationships with covered funds and foreign funds that were in place prior to December 31, 2013 ("legacy covered funds"). The Board also announced its intention to act next year to grant banking entities an additional one-year extension of the conformance period until July 21, 2017, to conform ownership interests in and relationships with legacy covered funds.

SEC Charges Staten Island-Based Firm With Operating Boiler Room Scheme Targeting Seniors

Date 18/12/2014

The Securities and Exchange Commission today charged a Staten Island, N.Y.-based firm, its former president, and two sales representatives involved in a fraudulent boiler room scheme targeting seniors to invest in speculative start-up companies.

European Commission - Statement By Commissioner Vestager Welcoming Luxembourg's Decision To Provide All Information Requested On Tax Rulings And Patent Boxes

Date 18/12/2014

"I am very pleased that the Luxembourg government has today announced they will fully comply with the Commission's requests for information on its tax rulings practice and patent box scheme. They will now provide the Commission with all the requested information outstanding.

The Commission would then no longer need to pursue infringement action against Luxembourg."

New York Stock Exchange Announces Fourth Consecutive Year Of IPO Leadership In Global Capital Raising - Technology IPO Leader

Date 18/12/2014

The New York Stock Exchange, part of the Intercontinental Exchange (NYSE: ICE) global network of exchanges, announced today that NYSE Group raised $182 billion in 545 transactions in 2014, more than any other exchange in the world. Listing eight of the 10 largest 2014 U.S. initial public offerings (IPOs), NYSE Group led in capital raised from IPOs for the fourth consecutive year and once again led in technology IPOs.

Tel Aviv Stock Exchange Weekly Review: 14-18 December 2014

Date 18/12/2014

Trading on the Tel Aviv Stock Exchange (TASE) during the third week of December ended down in share and bond indices; "Frutarom" and "Melisron" entered the TA-25 Index.

Financial Stability Oversight Council Releases Request For Comment On Asset Management Products And Activities - Council Seeks Public Comment On Potential Financial Stability Risks Related To Liquidity And Redemptions, Leverage, Operational Functions, And Resolution

Date 18/12/2014

The Financial Stability Oversight Council (Council) today voted [unanimously] to release a noticeseeking public comment regarding potential risks to U.S. financial stability from asset management products and activities.  The Council is seeking input from the public about potential risks to the U.S. financial system associated with liquidity and redemptions, leverage, operational functions, and resolution in the asset management industry.

CFTC Staff Issues Extensions Of No-Action Relief To Four Foreign Clearing Organizations

Date 18/12/2014

The U.S. Commodity Futures Trading Commission’s (Commission) Division of Clearing and Risk (DCR) today issued extensions of no-action relief to four foreign clearing organizations: ASX Clear (Futures) Pty Limited, Clearing Corporation of India Ltd., Korea Exchange, Inc., and OTC Clearing Hong Kong Limited.

CSDR: ESMA Consults On Implementing Measures For New Settlement Regime

Date 18/12/2014

The European Securities and Markets Authority (ESMA) has launched three consultations on proposed technical standards, technical advice and guidelines implementing the Central Securities Depositories Regulation (CSDR).

Direct Edge Trading Notice #14-61: Holiday Reminder – Closing Early On Wednesday, December 24, 2014 And Closed On Thursday, December 25

Date 18/12/2014

In observance of the Christmas holiday, BYX Exchange, BZX Exchange, EDGA Exchange, EDGX Exchange, and BATS Options will close early on Wednesday, December 24, 2014 and will be closed on Thursday, December 25, 2014. The exchanges will resume normal trading hours on Friday, December 26, 2014.

FSB: Public Responses To The October 2014 Consultative Document ‘Identification Of Critical Functions For Systemically-Important Insurers’

Date 18/12/2014

On 16 October 2014, the FSB published its consultative document entitled “Identification of the critical functions and critical shared services for systemically-important insurers”. Interested parties were invited to provide written comments by 15 December 2014. These comments are available below.