News Centre

ESMA Executive Director Natasha Cazenave Keynote Speech At ICI Investment Management Conference 2022

Date 24/03/2022

Ladies and Gentlemen, I am very pleased to have been invited to address the ICI investment management conference and provide the European Securities and Markets Authority’s perspective, even if only remotely as I can unfortunately not be with you in person.

SEC Announces New Leadership In Examinations Division And New York Regional Office

Date 24/03/2022

The Securities and Exchange Commission today announced that Daniel S. Kahl, Acting Director of the SEC’s Division of Examinations, will depart the agency after more than 21 years of service. Richard R. Best, Director of the SEC’s New York Regional Office, will serve as Acting Director of the Division of Examinations upon Mr. Kahl's departure. Lara Shalov Mehraban will serve as Acting Director of the New York Regional Office.

BIS: Financial Openness And Inequality

Date 24/03/2022

Summary

Focus

Recent increases in inequality have prompted a lot of interest in what causes it. Existing research has identified international financial openness as one of the main potential drivers of income inequality. Nevertheless, the evidence has not been conclusive so far. This is largely due to the use of very different measures and methods across studies. Most papers have focused on legal restrictions on capital flows as a measure of openness ("de jure measures"). The few that have examined measures based on actual external financial positions ("de facto measures") have used only a subset of the key metrics.

Statement On Proposal To Remove References Of Credit Ratings from Regulation M, SEC Chair Gary Gensler, March 24, 2022

Date 24/03/2022

Today, the Commission voted to propose removing references of credit ratings from Rules 101 and 102 of Regulation M (Reg M). I was pleased to support today’s proposal because, if adopted, it would fulfill a mandate issued by Congress in the wake of the 2008 financial crisis.

Martha Legg Miller, Director Of Small Business Advocate Office, To Leave SEC

Date 24/03/2022

The Securities and Exchange Commission today announced that Martha Legg Miller, Director of the Office of the Advocate for Small Business Capital Formation (OASB), is leaving the agency at the end of April. Sebastian Gomez Abero will serve as Acting Director.

Bank Of England Financial Policy Summary And Record - March 2022

Date 24/03/2022

The Bank Of England Financial Policy Committee (FPC) meets to identify risks to financial stability and agree policy actions aimed at safeguarding the resilience of the UK financial system.

CFTC Seeks Public Comment On FTX Request For Amended DCO Registration Order

Date 24/03/2022

The Commodity Futures Trading Commission (CFTC) has received inquiries from derivatives clearing organizations (DCO) or potential DCO applicants seeking to offer clearing of margined products directly to participants, such that participants would not clear through a futures commission merchant intermediary (non-intermediated model). Currently before the CFTC is a formal request from LedgerX, LLC d.b.a. FTX US Derivatives (FTX) to amend its order of registration as a DCO to allow it to modify its existing non-intermediated model. FTX currently operates a non-intermediated model and clears futures and options on futures contracts on a fully collateralized basis. In its request for an amended order of registration, FTX proposes to clear margined products for retail participants while continuing with a non-intermediated model. 

Drawbridge Launches Industry Advisory Board To Promote Cybersecurity Innovation And Collaboration Across The Alternative Investment Industry - Members Include Business Leaders From The Security, Legal, Compliance And Outsourcing Sectors

Date 24/03/2022

Drawbridge, a premier provider of cybersecurity software and solutions to the alternative investment industry, today announced the creation of its Industry Advisory Board (IAB). With the launch of its IAB, Drawbridge is bringing together exceptional industry leaders with unmatched experience to foster an open exchange of ideas and best practices to help advance cyber defenses for the alternative investment community. 

ESMA Fines REGIS-TR €186 000 For EMIR Data Breaches

Date 24/03/2022

The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has fined trade repository REGIS-TR €186,000 for eight breaches of the European Market Infrastructure Regulation (EMIR).

U.S. Treasury Sanctions Russia’s Defense-Industrial Base, The Russian Duma And Its Members, And Sberbank CEO - New Guidance Issued To Continue To Blunt Central Bank’s Ability To Deploy International Reserves, Including Gold

Date 24/03/2022

Today, in its latest action to impose severe costs on the Russian Federation for its illegal, unwarranted, and baseless war against Ukraine, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is designating key enablers of the invasion. This includes dozens of Russian defense companies, 328 members of the Russian State Duma, and the head of Russia’s largest financial institution. This action aligns with similar actions taken by the European Union, the United Kingdom, and Canada, and reflects continued unity to hold Putin accountable for his war of choice.