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  • Remarks Of CFTC Acting Chairman Rostin Behnam At The SOFR Symposium: The Final Year Sponsored By The Alternative Reference Rates Committee (ARRC)

    Date 08/06/2021

    Introduction

    Good morning.  I want to thank Tom Wipf, the ARRC, and the New York Fed for holding this series of symposia and for inviting me to share my thoughts and moderate an important discussion on our progress in the transition from LIBOR to SOFR specific to the derivatives markets.  Before I begin, please allow me to remind you that the views I express today are my own and do not represent the views of the Commodity Futures Trading Commission (CFTC or the Commission) or my fellow Commissioners.

  • Written Testimony Of Charles P. Rettig, US Commissioner Internal Revenue Service Before The Senate Finance Committee On The IRS Budget

    Date 08/06/2021

    Introduction

    Chairman Wyden, Ranking Member Crapo and Members of the Committee, thank you for the opportunity to discuss the IRS budget and provide you with an update on IRS operations.

  • Statement On Commencement Of Appointment Process For Five Public Company Accounting Oversight Board Seats, SEC Chair Gary Gensler June 8, 2021

    Date 08/06/2021

    The Public Company Accounting Oversight Board (PCAOB) is one of the centerpieces of the Sarbanes-Oxley Act of 2002.  The PCAOB is governed by a Board of five members, two of whom must be certified public accountants (CPAs), and three of whom must not be.  Under the Act, Board members must be “appointed from among prominent individuals of integrity and reputation who have a demonstrated commitment to the interests of investors and the public, and an understanding of the responsibilities for and nature of the financial disclosures required of issuers, brokers, and dealers under the securities laws and the obligations of accountants with respect to the preparation and issuance of audit reports with respect to such disclosures.”

  • ISDA Responds To EC Consultation On Taxonomy Disclosures

    Date 08/06/2021

    On June 1, ISDA and the Association for Financial Markets in Europe submitted a response to a European Commission (EC) consultation on the Delegated Act on Article 8 taxonomy disclosures. The associations recommend that assets held in the trading portfolio should be excluded from the green asset ratio’s (GAR’s) computation and associated disclosure obligation and that only banking book exposures should form its basis. Moreover, the associations note that although derivatives should be included in the relevant key performance indicators measuring alignment with sustainability purposes, this should happen gradually following a more in-depth assessment of their current uses by EU policy-makers and regulators. Finally, the associations point out that the inconsistent treatment of derivatives in the GAR is not optimal from a methodological consistency standpoint, as it could structurally disfavour banks. The paper calls on the EC to reassess its approach for derivatives holistically in the GAR until this matter has been appropriately examined in more detail.

  • Moscow Exchange: Risk Parameters On Securities Market

    Date 08/06/2021

    CP NCC will set the following risk parameters on Securities market starting from June 09, 2021: