News Centre
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Worms And Dinosaurs: Statement On The Proposed Amendments To Modernize How Broker-Dealers Preserve Electronic Records, SEC Commissioner Hester M. Peirce Nov. 19, 2021
Date 19/11/2021
Technology changes faster than regulations do. An example of this phenomenon is the electronic recordkeeping rule for broker-dealers the Commission proposed to update this week. We proposed to amend the broker-dealer recordkeeping rules to eliminate the write-once/read-many (“WORM”) requirement that has proven outdated and unnecessarily burdensome for firms to implement and maintain. This rule, at twenty-five, is a dinosaur. WORM is intended to ensure that records are not altered or erased so that regulators have an accurate picture of firm’s activities. New technologies—if permitted—could give regulators even better insight into what firms do.
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Nigerian Exchange Weekly Market Report For November 19th, 2021
Date 19/11/2021
A total turnover of 1.392 billion shares worth N27.886 billion in 19,990 deals were traded this week by investors on the floor of the Exchange, in contrast to a total of 1.471 billion shares valued at N20.941 billion that exchanged hands last week in 20,410 deals.
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IMF To Assess Financial Stability In Sweden
Date 19/11/2021
The International Monetary Fund (IMF) will conduct a review of the financial sector and the work of the authorities on financial stability, a so-called FSAP (Financial Sector Assessment Program) in 2022. FSAPs are conducted regularly for countries with systemically important financial markets. In its report, the IMF will highlight any flaws and risks in the system and propose measures to deal with them.
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Bank Of England: FCA Recognises The Revised FX Global Code And The Precious Metals Code
Date 19/11/2021
The Bank of England welcomes the announcement today by the Financial Conduct Authority (FCA) that it has recognised the Precious Metals Code and the revised FX Global Code (FX Code) under its codes recognition scheme. The FCA’s scheme was launched in 2018 and is for codes that apply to unregulated financial markets and activities. The FCA first recognised the FX Code in June 2019, and has re-recognised it following the Global Foreign Exchange Committee’s (GFXC) three-year review.
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UK Financial Conduct Authority Confirms Recognition Of The Revised FX Global Code And The Global Precious Metals Code
Date 19/11/2021
The Financial Conduct Authority (FCA) is today confirming under its code recognition scheme that it is:
- Recognising the updated FX Global Code (the FX Code) - maintained and updated by the Global Foreign Exchange Committee, this Code sets principles of good practice standards for the global foreign exchange (FX) market, promoting the integrity and effective functioning of the wholesale FX market.
- Recognising the Global Precious Metals Code (the PM Code) - maintained and updated by the London Bullion Market Association, setting out principles to promote the integrity and effective functioning of the global precious metals market.
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ESMA: New Q&As Available
Date 19/11/2021
The European Securities and Markets Authority (ESMA), the EU's securities markets regulator, has today updated the following Questions and Answers:
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Economic Outlook: Federal Reserve Governor Christopher J. Waller At The Center For Financial Stability, New York, New York
Date 19/11/2021
It is a pleasure to speak today at the Center for Financial Stability, and I look forward to our conversation. Let me take the next several minutes to speak about the continued improvement of the U.S. economy, recent inflation data, and their implications for monetary policy. I will also discuss the Federal Open Market Committee's (FOMC) recent decision to begin reducing monthly purchases of securities and how incoming data may affect the pace of tapering. Finally, I will address issues concerning the size of our balance sheet.
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McKinsey Affiliate To Pay $18 Million For Compliance Failures In Handling Of Nonpublic Information
Date 19/11/2021
The Securities and Exchange Commission today announced that an affiliate of McKinsey & Company that offers investment options exclusively to current and former McKinsey partners and employees has agreed to pay an $18 million penalty for compliance failures. The SEC’s investigation found that the affiliate maintained inadequate policies and procedures to prevent McKinsey partners from misusing material nonpublic information they obtained as consultants to public companies and other McKinsey clients while they were simultaneously overseeing the affiliate’s investment decisions.
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Moscow Exchange:Risk Parameters Change For The Securities
Date 19/11/2021
The following risk parameters will be changed:
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Borsa İstanbul Continues To Inform Companies And Investors
Date 19/11/2021
Borsa İstanbul, which continues to inform its stakeholders with the content it has published, now also prepared the “IPO and Listing on Borsa İstanbul” and “Investing in Borsa İstanbul Markets" guides.
