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CFTC Staff Announces Self-Executing Registration No-Action Relief For Delegating CPOs When Certain Requirements Are Met

Date 15/10/2014

The Commodity Futures Trading Commission’s (CFTC) Division of Swap Dealer and Intermediary Oversight (DSIO) announced today that it is providing self-executing registration no-action relief for certain commodity pool operators (CPOs) who delegate certain activities (Delegating CPOs) to a registered CPO and meet the conditions specified. The relief made available today in CFTC Staff Letter 14-126 replaces the registration no-action position DSIO previously made available in CFTC Staff Letter 14-69.
Canadian Securities Regulators Finalize Rule Amendments Regarding Disclosure Of Women On Boards And In Senior Management

Date 15/10/2014

The securities regulatory authorities in Manitoba, New Brunswick, Newfoundland and Labrador, Northwest Territories, Nova Scotia, Nunavut, Ontario, Québec and Saskatchewan (“participating jurisdictions”) announced today the final implementation of amendments to National Instrument 58-101 Disclosure of Corporate Governance Practices and Form 58-101F1 Corporate Governance Disclosure. Provided all necessary Ministerial approvals are obtained, these rule amendments will come into effect on December 31, 2014, in time for the 2015 proxy season.
EBA Discloses Probe Into EU Bankers Allowances

Date 15/10/2014

The European Banking Authority (EBA) published today the findings of its investigation regarding discretionary remuneration practices across the EU banking sector. The report shows that some institutions have classified the so-called ‘role-based' allowances in a way that increases the fixed component of remuneration, which may impact on the limitation of the bonus cap. As a result of this analysis, the EBA issued an Opinion to the European Commission and EU competent authorities calling for supervisors to ensure that institutions' remuneration practices on allowances comply with EU legislation.
BBA: Changes That Increase Fixed Costs Could Be Counterproductive

Date 15/10/2014

Responding to the European Banking Authorities report on discretionary remuneration practices, a spokesman for the BBA said: “The British banking industry has made great strides in recent years to reform the way in which highly paid staff are remunerated.
DTCC Proposes Central Clearing For The U.S. $1.6 Trillion Institutional Tri-Party Repo Market - An Established, Proven Central Clearing Function Would Play A Critical Role In Ensuring Stability And Transparency For Participants In The U.S. Tri-Party Repo Market

Date 15/10/2014

The Depository Trust and Clearing Corporation’s (DTCC) subsidiary Fixed Income Clearing Corporation (FICC) intends to submit a rule filing with the Securities Exchange Commission (SEC) and an Advance Notice filing to both the SEC and the Federal Reserve to provide central clearing for the over $1.6 trillion institutional tri-party repo market. Central clearing would play a key role in providing stronger participant and systemic safeguards for the tri-party repo market. FICC provides the only central clearing function for tri-party repo trades in the U.S. and is the only platform ready to serve this market.

ISE And KCG Jointly Enhance Execution Capability For Multi-Legged Options Strategy Orders With Stock Component

Date 15/10/2014

ISE today announced that KCG, an independent execution-only trading firm, has enhanced its execution capabilities for the stock component of multi-legged options strategy orders. These enhanced execution capabilities access liquidity directly from the equities exchanges, whereas previously, orders were sent only to alternative execution destinations, such as dark pools. As a result of this enhancement, fill rates for multi-legged options orders that include stock have increased.
SEC Announces Enforcement Action Against Former Wells Fargo Advisors Compliance Officer For Altering Document

Date 15/10/2014

The Securities and Exchange Commission today announced an enforcement action against a former Wells Fargo Advisors compliance officer who allegedly altered a document before it was provided to the SEC during an investigation.
Irish Stock Exchange: Fosun, The Chinese Insurance Conglomerate, Lists First Debt In Europe

Date 15/10/2014

Fosun International Limited, the largest privately owned conglomerate in mainland China, has listed its first debt security in Europe on the Irish Stock Exchange (ISE). Raised through Xingtao Assets Limited, the €500m 3.3% Senior Notes Due 2022 were listed on the ISE’s Main Securities Market on 9 October. Fosun, an insurance orientated investment group, provides a variety of insurance products, including property and casualty insurance, life insurance, health insurance and reinsurance. It is headquartered in Shanghai.
CFTC Financial Data For Futures Commission Merchants Update

Date 15/10/2014

Futures commission merchants (FCMs) and retail foreign exchange dealers (RFEDs) must file monthly financial reports with the CFTC's Division of Swap Dealer and Intermediary Oversight (DSIO) within 17 business days after the end of the month. Selected financial information from these reports is published below. The most recent month-end information generally is added within 12 business days after FCMs and RFEDs file their reports, but occasionally may be added later. For example: The 17th business day filing “due date" for February 28, 2013 financial reports was March 25, 2013. The 12 business day target for posting these data was April 10, 2013.
Industrial And Commercial Bank Of China Delegation Visits Moscow Exchange

Date 15/10/2014

On 15 October Moscow Exchange CEO Alexander Afanasiev welcomed a delegation to Exchange headquarters headed by Industrial and Commercial Bank of China (ICBC) Chairman Jiang Jianqing.