News Centre

Date 04/12/2023

CFTC Swaps Report Update

CFTC's Weekly Swaps Report has been updated, and is now available: http://www.cftc.gov/MarketReports/SwapsReports/index.htm.

Date 04/12/2023

ISDA: Milestone Update For The Common Domain Model

The Fintech Open Source Foundation (FINOS), in partnership with the International Swaps and Derivatives Association (ISDA), International Capital Market Association (ICMA) and the International Securities Lending Association (ISLA), has announced the launch of version 5.0 of the Common Domain Model (CDM), released in November. This major release, hosted on FINOS, features a multitude of technical, product and event improvements.

Date 04/12/2023

CFTC Issues Proposed Guidance Regarding The Listing Of Voluntary Carbon Credit Derivative Contracts

The Commodity Futures Trading Commission has approved a proposed guidance and request for public comment regarding the listing for trading of voluntary carbon credit derivative contracts. The proposed guidance outlines certain factors a CFTC-regulated exchange, or designated contract market, should consider when addressing requirements of the Commodity Exchange Act (CEA) and CFTC regulations that are relevant to the contract design and listing process.

Date 04/12/2023

U.S. Department Of Justice: Swiss Private Bank Banque Pictet Admits To Conspiring With U.S. Taxpayers To Hide Assets And Income In Offshore Accounts - Bank Enters Into A Deferred Prosecution Agreement For Criminal Misconduct And Agrees To Pay More Than $122.9 Million

Swiss private bank Banque Pictet et Cie SA admitted today to conspiring with U.S. taxpayers and others to hide more than $5.6 billion in 1,637 secret bank accounts in Switzerland and elsewhere and to conceal the income generated in those accounts from the IRS.

Date 04/12/2023

ISDA: Accounting For Cross-Product Netting

In February 2022, ISDA published the 2022 ISDA Securities Financing Transactions Definitions and related documents. The launch followed an ISDA whitepaper in October 2020 that highlighted significant opportunities for alignment between derivatives and securities financing transactions (SFTs). These documents allow parties to document stock loans, repurchase transactions and derivatives as part of a single close-out netting arrangement under an ISDA Master Agreement, confirming the enforceability of set-off rights, which enable counterparties to exchange a single net payment across products in the event of a default or termination.

Date 04/12/2023

Innovation, Michael S. Gibson, Federal Reserve Director, Division Of Supervision And Regulation, Before The Subcommittee On Digital Assets, Financial Technology And Inclusion, Committee On Financial Services, U.S. House Of Representatives, Washington, D.C.

Chairman Hill, Ranking Member Lynch, and members of the subcommittee, thank you for the opportunity to discuss supervision and regulation as it relates to innovation in the financial system.

Date 04/12/2023

The Statement Of Cash Flows: Improving The Quality Of Cash Flow Information Provided To Investors, Paul Munter, SEC Chief Accountant

Introduction: The Importance of Cash Flow Reporting for Investors

The statement of cash flows is integral to a complete set of financial statements, and it should therefore be subject to the same level of due professional care, effective internal controls, and robust, high-quality audit as other financial statements. Unfortunately, we have observed that preparers and auditors may not always apply the same rigor and attention to the statement of cash flows as they do to other financial statements, which may impede high quality financial reporting for the benefit of investors. This is evidenced by the statement of cash flows consistently being a leading area of financial statement restatements, and by our observations of material weaknesses in internal control over financial reporting (“ICFR”) around the preparation and presentation of the statement of cash flows.

Date 04/12/2023

Moscow Exchange Trading Volumes In November 2023

In November 2023, total trading volumes across Moscow Exchange’s markets were RUB 126.1 trln (RUB 74.8 in November 2022). Unless stated otherwise, all figures below refer to performance for August 2023 and all comparisons are with the same period last year.

Date 04/12/2023

Statement Of CFTC Commissioner Kristin Johnson: Commission Guidance Regarding Listing Of Voluntary Carbon Credit Derivative Contracts

Today, the Commodity Futures Trading Commission (Commission or CFTC) adopts proposed guidance regarding the listing of voluntary carbon credit (VCC) derivative contracts on designated contract markets (DCMs)—boards of trade that operate under the regulatory oversight of the CFTC (Proposed Guidance). I support the Proposed Guidance, and I applaud the Division of Market Oversight for developing and advancing these important transparency and market integrity reforms.

Date 04/12/2023

“Exorbitant Privilege: Responsibilities And Challenges”: Prepared Remarks Before The Council On Foreign Relations, SEC Chair Gary Gensler, Washington D.C., Dec. 4, 2023

Good morning. I’m honored that Mike and you invited me to speak today. Mike has a long history of public service, including having participated in hiring me twice, first into the Clinton Treasury Department and later the Obama Administration. As is customary, I’d like to note that my views are my own as Chair of the Securities and Exchange Commission, and I am not speaking on behalf of my fellow Commissioners or the staff.