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CFTC Announces Second Voluntary Carbon Markets Convening On July 19
Date 12/07/2023
Commodity Futures Trading Commission Chairman Rostin Behnam announced the second voluntary carbon markets convening will be held on Wednesday, July 19 at 11:30 a.m. (EDT) at the CFTC's Washington, D.C. headquarters.
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ISDA: A Conceptual Framework For Climate Scenario Analysis In The Trading Book
Date 12/07/2023
Understanding the potential impact of climate risk on the financial system is of increasing importance, but the uncertainty associated with climate change makes it very difficult to build this understanding. Climate risk scenario analysis is a core tool that is being developed and used by financial institutions and regulators to navigate the uncertainty associated with future climate outcomes and ensure the wider financial system can withstand possible climate events in the future.
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ISDA Publishes Conceptual Framework For Climate Scenario Analysis In The Trading Book
Date 12/07/2023
ISDA has published a conceptual framework for climate scenario analysis in the trading book, marking a major step forward in efforts to understand and manage the impact of climate-related events on traded assets.
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SEC Awards Whistleblower More Than $9 Million
Date 12/07/2023
The Securities and Exchange Commission today announced an award of more than $9 million to a whistleblower whose significant and detailed information and assistance led to a successful SEC enforcement action.
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Statement On Money Market Funds, SEC Chair Gary Gensler, July 12, 2023
Date 12/07/2023
Today, the Commission is considering adopting final rules to enhance money market funds’ liquidity and investor protection. I support this adoption because it will enhance these funds’ resiliency and ability to protect against dilution.
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Statement On Customer Protection Rule, SEC Chair Gary Gensler, July 12, 2023
Date 12/07/2023
Today, the Commission is considering proposing amendments that would require broker-dealers carrying large customer balances to calculate and deposit on a daily basis the net cash they owe their customers and other broker-dealers. I am pleased to support this proposal because, if adopted, it would help protect customers in the event that a broker-dealer fails.
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NGX Mulls Introduction Of Fiscal-Category Incentives For Listed Corporates
Date 12/07/2023
Nigerian Exchange Limited (NGX) says it plans to work with the government on the introduction of fiscal category incentives as well as advocacy for listed companies on their challenges.
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Statement On Proposed Amendments To The Customer Protection Rule, Commissioner SEC Caroline A. Crenshaw, July 12, 2023
Date 12/07/2023
Thank you, Chair Gensler. Since its adoption over 50 years ago, the customer protection rule has been a cornerstone of our broker-dealer regulatory regime. The rule protects customer funds and securities by obligating firms to maintain custody of their customers’ securities, safeguard customer cash by segregating it from their proprietary business activities, and return the assets promptly to customers upon request. Together with the Securities Investor Protection Act, or SIPA, passed two years earlier, the customer protection rule is designed to ensure that if a broker-dealer fails financially, its customers’ securities and cash will be readily available to be returned to those customers. If the broker-dealer moves to liquidation, SIPA and the customer protection rule help ensure that customer securities and cash are distributed to customers ahead of other creditors.
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Statement On The Adoption Of Money Market Fund Reforms, SEC Commissioner Caroline A. Crenshaw, July 12, 2023
Date 12/07/2023
Money market funds (MMFs) play an important role in our markets. They provide liquidity, short-term yield, and diversification. They invest in high-quality, short-term securities, such as Treasury bills, repurchase agreements, or commercial paper whose value is stable under normal market conditions. And, saliently, they are generally redeemable on demand, so investors can rely on MMFs to meet their everyday cash needs – perhaps for a company to make payroll or for a family to pay their mortgage.
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Statement On Proposed Amendments To Exchange Act Rule 15c3-3, SEC Commissioner Hester M. Peirce, July 12, 2023
Date 12/07/2023
Thank you, Mr. Chair. I support proposing to amend Exchange Act rule 15c3-3 to decrease the likelihood of customer losses in the event of a broker-dealer failure. Rule 15c3-3 effectively segregates customer activity from a broker-dealer’s proprietary activity.
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