News Centre

Statement Of Support - CFTC Chairman Gary Gensler

Date 29/06/2012

I support the proposed release on phased compliance for foreign swap dealers. The release provides phased compliance for foreign swap dealers (including overseas affiliates of U.S. swap dealers) of certain requirements of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act).

Direct Edge To Present To The Comissão De Valores Mobiliários At Hearing On Exchange Competition

Date 29/06/2012

Direct Edge, one of the world’s leading equities exchange operators, has been invited to the offices of Comissão de Valores Mobiliários (CVM) for a presentation and discussion on the potential benefits to Brazilian investors of exchange competition and the most effective implementation plan for introducing competition.  The meeting, which brings together several market participants and potential Brazilian market entrants, will consider the conclusions of a study conducted by Oxera Consulting Ltd which examines the costs and benefits of changing the competitive structure of the market for trading and post-trading services in Brazil.  When the study was released earlier this month, Direct Edge commented that it was “entirely consistent” with the benefits and principles that have guided its efforts to offer exchange competition for the benefit of Brazilian investors.

CFTC Approves Proposed Interpretive Guidance On Cross-Border Application Of The Swaps Provisions Of The Dodd-Frank Act

Date 29/06/2012

The Commodity Futures Trading Commission (Commission) today approved for public comment proposed interpretive guidance regarding the cross-border application of the swaps provisions of Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank Act”) and the Commission’s regulations. The proposed guidance interprets Section 2(i) of the Commodity Exchange Act (CEA), which states that the swaps provisions of the CEA shall not apply to activities outside the United States unless those activities have a direct and significant connection with activities in, or effect on, commerce of the United States. The vote was conducted via seriatim, which was approved by all five commissioners. The guidance will be open for public comment for 45days after publication in the Federal Register.

SEC Charges Peter Madoff With Fraud And False Statements To Regulators

Date 29/06/2012

The Securities and Exchange Commission today charged Peter Madoff, the brother of Bernie Madoff, with committing fraud, making false statements to regulators, and falsifying books and records in order to create the false appearance of a functioning compliance program over Madoff’s fraudulent investment advisory operations.

“Not The Boss”: Statement Of CFTC Commissioner Bart Chilton On Cross Border

Date 29/06/2012

I support the proposed cross interpretive guidance and policy statement and exemptive order. These are global interconnected markets and we need to work with our colleagues around the planet to ensure that we have, to the greatest extent practical, harmonized rules, regulations, surveillance and enforcement. The recent Barclays matter, the JPMorgan loss and many other illustrations make the case for this far better than anything else. As they say in the detective programs: These are real cases with real victims.

Federal Reserve Board And Federal Deposit Insurance Corporation Announce Process For Receiving And Evaluating Initial Resolution Plans, Also Known As Living Wills

Date 29/06/2012

The Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve Board on Friday announced the process for receiving and evaluating the initial resolution plans--also known as living wills--from the largest banking organizations operating in the United States.

TOM MTF Statistics Week 26 2012

Date 29/06/2012

Click here to download the weekly statistics update of TOM MTF for week 26 - 2012. 

Statement of Support - CFTC Chairman Gary Gensler - Compliance For Foreign Swap Dealers

Date 29/06/2012

Phased Compliance

I support the proposed release on phased compliance for foreign swap dealers. The release provides phased compliance for foreign swap dealers (including overseas affiliates of U.S. swap dealers) of certain requirements of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act).

SIFMA And A Coalition Of Trade Associations Express Strong Objection To CA Municipalities’ Consideration Of Mortgage Seizures

Date 29/06/2012

SIFMA, along with the American Bankers Association, American Council of Life Insurers, American Land Title Association, American Securitization Forum, Association of Mortgage Investors, California Bankers Association, California Land Title Association, California Mortgage Bankers Association, Community Mortgage Banking Project, Consumer Mortgage Coalition, Inland Valleys Association of REALTORS, Investment Company Institute, Mortgage Bankers Association, National Association of Home Builders, Residential Servicing Coalition, The Financial Services Roundtable, and The Housing Policy Council of the Financial Services Roundtable, today announced it has submitted a letter to the city governments of Fontana, CA and Ontario, CA, and the county of San Bernardino, CA, expressing strong objection to the municipalities’ Joint Powers Agreement that contemplates the implementation of a so-called “Homeownership Protection Plan.” The Associations are very concerned that the municipalities’ proposed use of eminent domain to seize mortgage loans raises very serious legal and constitutional issues and would likely significantly reduce access to credit for mortgage borrowers in the Fontana, Ontario, and San Bernardino areas and other areas that undertake similar actions. 

UK's Financial Services Authority To Adjust Bank Liquidity Guidance In Light Of Improved Bank Of England Facilities

Date 29/06/2012

The FSA emphasises that its liquidity guidance regime means that liquid asset buffers can be drawn down in the event of liquidity stress and used for the duration of the period of stress.