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SEC Charges Clear Channel Outdoor With FCPA Violations Relating To China Subsidiary

Date 28/09/2023

The Securities and Exchange Commission today announced that Clear Channel Outdoor Holdings Inc. agreed to pay more than $26 million to resolve charges that it bribed Chinese government officials to obtain outdoor advertising contracts in violation of the Foreign Corrupt Practices Act (FCPA).
Welcoming Remarks, Federal Reserve Chair Jerome H. Powell, At Conversation With The Chair: A Teacher Town Hall Meeting, Washington, D.C. (And By Webcast)

Date 28/09/2023

Thank you, Sarah, thank you to those in Fed Education who helped put together this event, and thank you to the teachers here and online who have put aside some of their planning time to listen and, I hope, also participate. If I were doing the grading, credit would always be granted for participation.
Statement Of CFTC Commissioner Kristin N. Johnson: The Continuing Surge Of Forex Investment Fraud

Date 28/09/2023

Today the Commodity Futures Trading Commission (CFTC) announced the filing of a complaint in the United States District Court for the Eastern District of Michigan against Darren Robinson and his company The QYU Holdings Inc. According to the complaint, the Defendants engaged in a type of fraud that has become all too common lately: foreign currency (forex) investment scams. The Defendants solicited the public to join a commodity pool for the purpose of investing in leveraged, margined, or financed forex pairs and forex futures contracts. Rather than invest the money in forex as promised, Robinson instead invested it in luxury cruises, vehicles, real property, airfare, and other daily expenses for himself. Of the roughly $7 million that he received from 30 victims, about $1.2 million was used to make payments to earlier investors as “profits” of the trading, in the manner of a Ponzi scheme.
ISDA derivatiViews: Exploring A Central Notices Hub

Date 28/09/2023

It’s well understood that people should hope for the best but be prepared for the worst. When it comes to the derivatives market, the ISDA Master Agreement does just that. Many of its most important clauses set out the steps firms should take if the worst does occur and a trading counterparty fails. These provisions have proved to be robust over three decades, but practical challenges can still arise, particularly when it comes to delivering critical notices to counterparties. ISDA has been working with members to consider possible solutions – and we think technology could be the answer.
CFTC Charges Unregistered Pool Operator And Its Owner With $7.1 Million Fraud

Date 28/09/2023

The Commodity Futures Trading Commission today filed a civil enforcement action in the U.S. District Court for the Eastern District of Michigan against Darren Robinson, a former resident of Miami, Florida, and his firm The QYU Holdings Inc. (QYUHI), a Wyoming corporation with a purported principal place of business in Dallas, Texas.

Federal Reserve: Senior Credit Officer Opinion Survey On Dealer Financing Terms

Date 28/09/2023

The Senior Credit Officer Opinion Survey on Dealer Financing Terms (SCOOS) is a quarterly survey providing information about the availability and terms of credit in securities financing and over-the counter (OTC) derivatives markets. The SCOOS is modeled after the long-established Senior Loan Officer Opinion Survey on Bank Lending Practices, which provides qualitative information about changes in supply and demand for loans to households and businesses at commercial banks. The SCOOS collects qualitative information on credit terms and conditions in securities financing and OTC derivatives markets, which are important conduits for leverage in the financial system. The survey panel for the SCOOS began by including 20 dealers and over time has been expanded. These firms account for almost all of the dealer activity in dollar-denominated securities financing and OTC derivatives markets. The survey is directed to senior credit officers responsible for maintaining a consolidated perspective on the management of credit risks. The HTML links below include the full report; the PDF links include the summary only.
FTSE Russell Announces The Results Of Its 2023 Annual Country Classification Review For Equities And Fixed Income

Date 28/09/2023

FTSE Russell, the leading global index provider, has published the results of its annual country classification review for countries monitored by its global equity and fixed income indices.
Office Of The Comptroller Of The Currency Releases Bank Supervision Operating Plan For Fiscal Year 2024

Date 28/09/2023

The Office of the Comptroller of the Currency (OCC) today released its bank supervision operating plan for fiscal year (FY) 2024.
Closing Remarks, Federal Reserve Governor Lisa D. Cook, At The Minorities In Banking Forum, Federal Reserve Bank Of Dallas, Dallas, Texas

Date 28/09/2023

Good afternoon! I am Governor Lisa D. Cook. And it is a privilege to be able to say a few words to close out this important forum, now in its eighth year. I am disappointed I couldn't be with you in person. But I am glad to have this opportunity to say why I believe your discussion these past two days is so important to the goal of promoting a healthy economy that works for everyone.
Canadian Securities Regulators Adopt Business Conduct Rule For Derivatives Dealers And Advisers

Date 28/09/2023

The securities regulatory authorities of Alberta, Saskatchewan, Manitoba, Ontario, Quebec, New Brunswick, Nova Scotia, Prince Edward Island, Newfoundland and Labrador, Nunavut, Northwest Territories and Yukon today adopted a final rule that sets out a comprehensive regime for regulating the business conduct of dealers and advisers in the over-the-counter (OTC) derivatives market.