News Centre

SEC Charges Canada-Based Investment Banker With Insider Trading

Date 16/04/2013

The Securities and Exchange Commission today charged an investment banker in Toronto with insider trading by using information that he obtained through his job of pitching investment ideas to the Canada Pension Plan Investment Board (CPPIB).

Statement By CFTC Chairman Gary Gensler On IOSCO Benchmark Principles

Date 16/04/2013

Commodity Futures Trading Commission Chairman Gary Gensler today made the following statement on the International Organization of Securities Commissions (IOSCO) consultation paper on Principles for Financial Benchmarks:

“To promote market integrity, it is critical that benchmark interest rates be anchored in observable transactions and supported by appropriate governance structures. Given what the world has learned about LIBOR, Euribor and similar rates, I am pleased that the IOSCO proposed principles include both of these essential elements.  I want to thank the IOSCO members and my co-chair Martin Wheatley for all of their dedication and efforts in developing these principles.

22nd Anniversary Of Warsaw Stock Exchange

Date 16/04/2013

Making The CFTC’s Surveillance Work: Efficient Data Management And Clear Rule Implementation - Keynote Address By CFTC’s Commissioner Scott D. O’Malia Before Financial Times Global Commodities Summit, Consolidating The Industry-Challenges Ahead

Date 16/04/2013

I want to thank Javier Blas for inviting me to speak at the Summit.

BAE Systems Detica Wins Fraud And Financial Crime Software Award 2013 From Operational Risk & Regulation Magazine

Date 16/04/2013

BAE Systems Detica today announced that its Detica NetReveal^® solution has been named winner of the Fraud and Financial Crime Software Award 2013 by Operational Risk & Regulation magazine. Winners were selected by OpRisk’s editorial staff on the basis of discussions with industry participants.

FINRA Fines Merrill Lynch $1 Million And Orders Restitution Of More Than $320,000 For Failing To Provide Customers Best Execution In Non-Convertible Preferred Securities Transactions

Date 16/04/2013

The Financial Industry Regulatory Authority (FINRA) announced today that it has fined Merrill Lynch, Pierce, Fenner & Smith Inc. $1.05 million for failing to provide best execution in certain customer transactions involving non-convertible preferred securities executed on one of its proprietary order management systems (ML BondMarket), and for failing to have an adequate supervisory system and written supervisory procedures in place. Merrill Lynch was also ordered to pay more than $323,000 in restitution, plus interest, to customers who did not receive best execution for their trades in non-convertible preferred securities. Additionally, FINRA has required Merrill Lynch to revise its written supervisory procedures regarding ML BondMarket best execution obligations within 30 business days.

Athens Stock Exchange: Continuation Of Suspension Of Trading Of The Shares Of The Companies "Bank Of Cyprus Public Company Ltd" And "Cyprus Popular Bank Public Co Ltd"

Date 16/04/2013

Following the notification of the Hellenic Capital Market Commission by the Cyprus Capital Market Commission, following the relevant request of the Hellenic Capital Market Commission, the Athens Exchange decided the continuation of the suspension of trading of the shares of the companies "BANK OF CYPRUS PUBLIC COMPANY LTD" and "CYPRUS POPULAR BANK PUBLIC CO LTD" on ATHEX, until May 31, 2013 (included), according to article 46 par. 3 of L. 3606/2007.

IOSCO Proposes Principles for Financial Benchmarks

Date 16/04/2013

The International Organization of Securities Commissions (IOSCO) Task Force on Financial Market Benchmarks (the Task Force), which the Financial Conduct Authority (FCA) chief executive Martin Wheatley co-chairs, has published its proposed Principles for Financial Benchmarks (the Principles) for consultation.

Thai Bourse Recommends Investors Closely Monitor Commodity Prices Due To Global Price Fluctuations

Date 16/04/2013

The Thailand Futures Exchange PCL (TFEX), under The Stock Exchange of Thailand group (SET), recommends that investors closely monitor global commodity prices, ensure sufficient margins, and adjust their investment portfolios, especially those investing in gold, silver, or oil futures due to global price fluctuations. TFEX will facilitate the portfolio adjustment by temporary allowing the minimum trading of 1(one) contract for block trade of gold futures during 17-19 April.

ISDA-BBA Preliminary Response To UK's HMT Re. Indirect Clearing

Date 16/04/2013

We welcome the HMT Informal consultation on indirect clearing arrangements of 28 March 2013 and the intent to provide, so far as is possible, a protective framework for EMIR compliant indirect clearing constructs in the UK (noting that these will only be helpful inrespect of the UK insolvency regime).