News Centre
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Statement At The SEC Regulation Think-In 2020 Conference, Dalia Blass, Director, Division Of Investment Management, Sept. 16, 2020
Date 17/09/2020
Introduction
Hello, and thank you, Mark [Berman] and Jim [Burns], for inviting me to be part of this conference. It’s a pleasure to join you and the many representatives from the international community of investment advisers in attendance.
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Supporting Statement Of CFTC Commissioner Brian Quintenz Regarding Amendments To The Commission’s Regulations Relating To SDR And Data Reporting Requirements
Date 17/09/2020
I am pleased to support today’s final rule that will improve the accuracy of data reported to, and maintained by, CFTC-registered swap data repositories (SDRs). Data collected by SDRs provides a crucial source of information to the CFTC as it discharges its statutory responsibilities to supervise regulated entities, monitor the derivatives markets, and enforce the Commodity Exchange Act. Today’s rule makes sensible adjustments to how reporting counterparties submit swap data to SDRs and how SDRs fulfill their responsibilities as Commission registrants. These adjustments are based on the almost decade-long experience of the CFTC staff in supervising SDRs and reviewing swap data, as well as the public’s informed comments to the proposal.
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Remarks At The September 16, 2020 Meeting Of The Asset Management Advisory Committee, Dalia Blass, Director, SEC Division Of Investment Management, Sept. 16, 2020
Date 17/09/2020
Good morning and welcome to the fourth meeting of the Asset Management Advisory Committee.
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Statement Of CFTC Chairman Heath P. Tarbert In Support Of Final Rules On Swap Data Reporting
Date 17/09/2020
I am pleased to support today’s final swap data reporting rules under Parts 43, 45, and 49 of the CFTC’s regulations, which are foundational to effective oversight of the derivatives markets. As I noted when these rules were proposed in February, “[d]ata is the lifeblood of our markets.” Little did I know just how timely that statement would prove to be.
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SEC Awards Almost $250,000 To Joint Whistleblowers
Date 17/09/2020
The Securities and Exchange Commission today announced an award of nearly $250,000 to joint whistleblowers whose tip caused the opening of an investigation that resulted in a successful enforcement action. The whistleblowers raised concerns internally before reporting the concerns to the Commission.
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Canadian Securities Regulators Propose Changes To The Offering Memorandum Prospectus Exemption
Date 17/09/2020
The Canadian Securities Administrators (CSA) today published for comment proposed changes to the offering memorandum prospectus exemption. The changes are reflected in proposed amendments to National Instrument 45-106 Prospectus Exemptions (NI 45-106), as well as proposed changes to Companion Policy 45-106CP Prospectus Exemptions.
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Statement Of CFTC Commissioner Dan M. Berkovitz Regarding Amendments To The Swap Data Reporting Rules
Date 17/09/2020
Introduction
I support today’s final rules amending the swap data reporting requirements in parts 43, 45, 46, and 49 of the Commission’s rules (the “Reporting Rules”). The amended rules provide major improvements to the Commission’s swap data reporting requirements. They will increase the transparency of the swap markets, enhance the usability of the data, streamline the data collection process, and better align the Commission’s reporting requirements with international standards.
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BOX Exchange Price Protections For Complex Orders – Date Change
Date 17/09/2020
BOX Exchange LLC (“BOX” or the “Exchange”) recently distributed IC-2020-22 which detailed new price protections for Complex Limit Orders executed on BOX.
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Supporting Statement Of CFTC Commissioner Brian D. Quintenz Regarding Final Rules Amending The Real-Time Reporting Requirements (Part 43)
Date 17/09/2020
The Commodity Exchange Act (CEA) specifically directs the Commission to ensure that real-time public reporting requirements for swap transactions (i) do not identify the participants; (ii) specify the criteria for what constitutes a block trade and the appropriate time delay for reporting such block trades, and (iii) take into account whether public disclosure will materially reduce market liquidity.[1] The Commission has long recognized the intrinsic tension between the policy goals of enhanced transparency versus market liquidity. In fact, in 2013, the Commission noted that the optimal point in this interplay between enhanced swap transaction transparency and the potential that, in certain circumstances, this enhanced transparency could reduce market liquidity “defies precision.”[2] I agree with the Commission that the ideal balance between transparency and liquidity is difficult to ascertain and necessarily requires not only robust data but also the exercise of reasoned judgement, particularly in the swaps marketplace with a finite number of institutional investors trading hundreds of thousands of products, often by appointment.
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Moscow Exchange: Final Settlement Prices Determined For September MOEX Index Futures
Date 17/09/2020
Final settlement prices determined for September MOEX index futures
