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NZX Shareholder Metrics - June 2022

Date 06/07/2022

Please see attached NZX Limited shareholder metrics for June 2022.

Joint Trade Response To FSB’s Interim Report On Supervisory And Regulatory Approaches To Climate-Related Risks

Date 05/07/2022

On June 30, ISDA, the Institute of International Finance and the Global Financial Markets Association, submitted a joint response to the Financial Stability Board (FSB) on its interim report on supervisory and regulatory approaches to climate-related risks. The Associations support and welcome the FSB’s initiative in developing the report to assist supervisory and regulatory authorities in developing their approaches to climate change, focusing on cross-sectoral and system-wide aspects of climate-related financial risks.

Keynote Address By CFTC Commissioner Caroline D. Pham, 18th Nasdaq Technology Of The Future Conference - Reimagining Tomorrow’s Markets - Regulation Of The Future: Building Responsible Digital Asset Markets

Date 05/07/2022

Good afternoon to you all.  Thank you very much for inviting me to speak at the 18th Technology of the Future Conference, in person for the first time in four years, and for the first time at Nasdaq headquarters in New York City.  It’s funny that no matter how much things change, some things are still the same—like the smile you get when reconnecting with colleagues and making new friends.  I’m excited to see so many leaders in financial markets getting together.  I’m excited to reconnect with some of you, and meet others for the first time.  Some of us—like me—have switched jobs once or twice since we last saw each other.

Statement Of CFTC Commissioner Caroline D. Pham Regarding Order Filing And Settling Charges Against BNP Paribas

Date 05/07/2022

CFTC Commissioner Caroline D. Pham today released the following statement regarding an order filing and settling swap dealer compliance charges against BNP Paribas:

Statement Of CFTC Commissioner Christy Goldsmith Romero Regarding Enforcement Action Against JP Morgan Chase Bank, N.A., et al. For Swap Data Reporting Failures

Date 05/07/2022

I strongly support this enforcement action against JP Morgan for violating CFTC swap data reporting requirements for years, and failing to report accurately more than 2.1 million swap transactions.  I am quite concerned by the duration and substantial nature of violations by JP Morgan.  I also note that JP Morgan has been the subject of several CFTC enforcement actions over the years, and the subject of many other federal agency enforcement actions.

Refinitiv | Slowest M&A Opening In Two Years

Date 05/07/2022

• Global Investment Banking Review (view report here) 
  • Global Investment Banking Fees Fall 31% to Three-Year Low
  • ECM Fees Register 72 Decline; DCM Falls 26%; Completed M&A Fees Down 6%
  • Top Five Banks See Collective Wallet Share Fall by 4.9% Points

CFTC Swaps Report Update

Date 05/07/2022

CFTC's Weekly Swaps Report has been updated, and is now available.

ISDA Responds To Swiss FINMA’s Consultation On Clearing Obligations For RFR Swaps

Date 05/07/2022

ISDA has responded to the Swiss FINMA’s consultation on updated clearing requirements resulting from the transition away from IBORs. In the response, ISDA highlighted the following key points:

Statement Of CFTC Commissioner Christy Goldsmith Romero Regarding $6 Million Enforcement Action Against BNP Paribas For Swap Data Reporting And Disclosure Failures And Failure To Supervise

Date 05/07/2022

I strongly support this enforcement action against BNP Paribas for violating swap data reporting requirements for more than five years, violating swap disclosure requirements, and for failure to supervise.  BNP failed to report accurately millions of swap transactions.  Certain swap dealer compliance issues were not timely identified, with the result that these violations persisted for years.  Despite BNP compliance personnel flagging a swap reporting issue, BNP did not adequately and timely address the issue apparently due to concerns that a comprehensive fix would take significant time and resources.  I also note that BNP or affiliated entities have been the subject of CFTC or other federal enforcement actions.

CFTC Orders J.P. Morgan To Pay $850,000 For Swap Reporting Failures

Date 05/07/2022

The Commodity Futures Trading Commission today issued an order simultaneously filing and settling charges against JPMorgan Chase Bank, N.A., J.P. Morgan Securities LLC, and J.P. Morgan Securities, plc (collectively, J.P. Morgan), provisionally registered swap dealers, for failing to comply with their reporting obligations as swap dealers. The order requires J.P. Morgan to pay an $850,000 civil monetary penalty and to cease and desist from any further violations of the Commodity Exchange Act (CEA) or CFTC regulations, as charged.