News Centre

Statement Of CFTC Commissioner Christy Goldsmith Romero: Proposal For A Heightened Enforcement Accountability And Transparency (HEAT) Test To Require More Defendants To Admit To Wrongdoing In Settlements

Date 19/09/2022

I have deep concerns about continuing the Commodity Futures Trading Commission’s (CFTC) longstanding and routine practice of not seeking admissions of wrongdoing when settling the overwhelming majority of enforcement cases, which has resulted in routine civil settlements in which the defendant “neither admits nor denies” wrongdoing.  For this reason, I recently voted to concur in (and not simply to support) settlements with undisputed facts of egregious fraud that victimized retail investors and had other aggravating factors.  My concurrences reflect that I support resolution of these cases to the extent that they obtained the same or nearly the same relief the CFTC would expect to obtain in a successful trial (including restitution for victims).  Yet, I do not support allowing these defendants to settle without admitting their illegal conduct.

ACER Will Decide On The Rules On The Maximum And Minimum Prices In The Day-Ahead And Intraday Electricity Markets

Date 19/09/2022

Europe’s single day-ahead and intraday electricity markets have an automatic maximum price adjustment mechanism in case of extraordinary high prices. With high prices on electricity markets, ACER urged a review of the methodology governing the automatic increase of the price limit.

Opening Remarks To The Institute For Inclusion In The Legal Profession, SEC Chair Gary Gensler, Washington D.C., Sept. 15, 2022

Date 19/09/2022

Good afternoon. It is my pleasure to welcome you to today’s event with the Institute for Inclusion in the Legal Profession (IILP). My thanks to Sandra Yamate and the entire IILP team for the invitation to participate in this important event.

MIAX Exchange Group - Options & Equities Markets - Reminder: Reg SCI / SIFMA BCP Testing on Saturday, October 15, 2022

Date 19/09/2022

As previously announced in the April 19, 2022 Alert, the MIAX Exchange Group will be participating in the 2022 SIFMA BCP Testing on Saturday, October 15, 2022.  All Members that are required to test with MIAX Options, MIAX Pearl Options, MIAX Emerald Options and/or MIAX Pearl Equities Exchanges in accordance with Regulation Systems Compliance and Integrity (Regulation SCI) were notified on April 5, 2022.  However, all Members are encouraged to test. 

BIS Quarterly Review, September 2022

Date 19/09/2022

Worsening growth prospects and evolving perceptions of the monetary stance shaped financial markets during the review period.1 Economic indicators deteriorated due to the fallout from the Ukraine war and weakness in China. Marketbased expectations of inflation and policy rates fluctuated as monetary tightening quickened globally and energy disruptions intensified in Europe. All these factors swayed financial conditions and contributed to market volatility.

EBA Responds To The EU Parliament’s 2020 Discharge Report

Date 19/09/2022

The Opinion follows up on the observations made by European Parliament in its 2020 discharge report and elaborates on measures taken by the European Banking Authority (EBA) in response to it. Out of the 30 observations, which cover the areas of budget and financial management, performance, staff policy, procurement, prevention and management of conflicts of interest and transparency, internal control, and COVID response and business continuity, the EBA is of the view that 26 have already been implemented or are no longer applicable. For 3 observations the implementation of follow-up actions is ongoing and for one observation the status has to be further considered.

Markets Swing On Changing Perceptions Of The Policy Outlook: BIS Quarterly Review

Date 19/09/2022

• Markets fluctuated as investors adjusted their views of central banks' response to persistent inflation amid a deteriorating growth outlook; the US dollar reached record highs.
• An easing of financial conditions reversed in August as the policy focus on inflation sharpened and fears of an energy crisis increased, notably in Europe.
• A special feature argues that effective restrictions on Russian energy output would come with spillover effects for industrial production and the crops used in biofuels.

Post Ethereum Merge Highlights Continued Caution Amongst Investors - CoinShares Research: Fund Flows

Date 19/09/2022

Click here to download research from analysts at CoinShares, discussing the post Ethereum merge highlights.

Post-Merge Market Mayhem - Kaiko Research: Data Debrief

Date 19/09/2022

• Price Movements: ETH is down 25% on the week despite the successful completion of the Merge.
• Market Liquidity: The U.S. dollar remains the dominant fiat currency in crypto, possessing 70% of total fiat trade volume.
• Derivatives: ETH funding rates have returned to neutral after dipping to all time lows of less than -0.4%. 
• Macro Trends: August core inflation data exceeded expectations, causing both crypto and equity markets to tumble. 

MFS MERIDIAN FUNDS: BaFin Imposes Administrative Fines

Date 19/09/2022

On 6 September 2022, BaFin imposed administrative fines totalling 200,000 euros on MFS MERIDIAN FUNDS.