News Centre

CFTC Grants Order To ICE Clear Europe Permitting Portfolio Margining Of Swaps And Security-Based Swaps In A Cleared Swaps Customer Account

Date 11/04/2013

The Commodity Futures Trading Commission issued an order granting a request made by ICE Clear Europe Limited (ICEU), a Commission-registered derivatives clearing organization (DCO), pursuant to Section 4d(f) of the Commodity Exchange Act (Act). The order sets forth terms and conditions under which ICEU and its clearing members that are dually registered as futures commission merchants and broker-dealers may (1) hold credit default swaps (CDS) and security-based CDS in a cleared swaps customer account subject to Section 4d(f) of the Act; and (2) portfolio margin such CDS and security-based CDS held in the cleared swaps customer account.

Written Testimony Of US Treasury Secretary Jacob J. Lew Before The House Ways And Means Committee On The President’s Budget For Fiscal Year 2014

Date 11/04/2013

Chairman Camp, Ranking Member Levin, and members of the committee, thank you for the opportunity to appear before you today to discuss the President’s Fiscal Year 2014 Budget.

CFTC Vacates Kansas City Board Of Trade Clearing Corporation’s Registration As A Derivatives Clearing Organization

Date 11/04/2013

At the request of the Kansas City Board of Trade Clearing Corporation (KCBTCC), the Commodity Futures Trading Commission (Commission) has issued an Order, pursuant to Section 7 of the Commodity Exchange Act, vacating the registration of KCBTCC as a derivatives clearing organization, to be effective on the later of April 16, 2013, or one day after the successful transfer of open interest to the Chicago Mercantile Exchange Inc. (CME).

SEC Names Jennifer Marietta-Westberg As Deputy Director Of The Division Of Risk, Strategy, And Financial Innovation

Date 11/04/2013

The Securities and Exchange Commission today announced that Jennifer Marietta-Westberg has been named Deputy Director of its Division of Risk, Strategy, and Financial Innovation (RSFI).

CFTC Chairman Gary Gensler And Commissioner Scott O’Malia To Testify Before The U.S. House Of Representatives Committee On Appropriations, Subcommittee On Agriculture, Rural Development, Food And Drug Administration, And Related Agencies

Date 11/04/2013

SEC Charges Former KPMG Partner And Friend With Insider Trading

Date 11/04/2013

The Securities and Exchange Commission today charged the former partner in charge of KPMG's Pacific Southwest audit practice and his friend with insider trading on nonpublic information about firm clients.

World Economic and Financial Surveys – IMF Global Financial Stability Report, Old Risks, New Challenges, April 2013

Date 11/04/2013

Contents

Chapter 2. A New Look at the Role of Sovereign Credit Default Swaps

Remarks At The 2013 National Compliance Outreach Program For Broker-Dealers By SEC Commissioner Daniel M. Gallagher

Date 11/04/2013

Thank you, Carlo [di Florio], for the kind introduction. As most of you know, Carlo has done an amazing job as the head of OCIE for the last several years. He came to public service at a tough time for the SEC, and his contributions to the agency have been outstanding. Carlo doesn’t allow sacred cows — he evaluates every situation methodically and coolly, and then endeavors to find the right answer, not necessarily the convenient one. Carlo has become a good friend and valued colleague to me over the years, and you will be hard pressed to find another public servant who works as hard as him yet can do it with a sincere smile.

FINRA Files Temporary Cease-And-Desist Order Against Success Trade Securities And CEO Fuad Ahmed To Halt Fraud - FINRA Also Issues Complaint Charging Success Trade Securities And Ahmed With Fraudulent Sales Of Promissory Notes - Many Current & Former NFL & NBA Players Among 58 Investors

Date 11/04/2013

The Financial Industry Regulatory Authority (FINRA) announced today that it has filed a Temporary Cease-and-Desist Order (TCDO) to halt further fraudulent activities by Washington, D.C.-based Success Trade Securities, Inc. and its CEO & President, Fuad Ahmed, as well as the misuse of investors' funds and assets. FINRA also issued a complaint against Success Trade Securities and Ahmed charging fraud in the sales of promissory notes issued by the firm's parent company, Success Trade, Inc., in which Ahmed holds a majority ownership interest. FINRA filed the TCDO, to which Ahmed and the company agreed, thus immediately freezing their activities, based on the belief that ongoing customer harm and depletion of investor assets are likely to continue before a formal disciplinary proceeding against Success Trade Securities and Ahmed will be completed.

Japan & US: Global Equity Markets YTD Performance Showed Japan & US Leadership As Reflected By Russell Indexes

Date 11/04/2013

Global equity market performance year-to-date as of April 9^th showed Japan and the U.S. leading other global markets as reflected by the Russell Indexes. The Russell Japan Index returned 14.5% year-to-date, followed by the Russell 1000^® Index of large-cap U.S. stocks which returned 11.9% year-to-date. Asia ex-Japan, emerging markets and European markets all trailed the U.S. & Japan, as reflected by the year-to-date performance of the Russell Asia ex-Japan Index (-1.1%), Russell Emerging Markets Index (-1.3%) and the Russell Eurozone Index (1.0%) year-to-date as of April 9^th.