News Centre

New Zealand Financial Markets Authority Board Announces Chief Executive Will Leave At End Of 2021

Date 15/03/2021

The Financial Markets Authority (FMA) Board today announced that Chief Executive Rob Everett had resigned and would leave the organisation towards the end of the year.

Readout: US Secretary Of The Treasury Janet L. Yellen’s Call With Indian Finance Minister Nirmala Sitharaman

Date 15/03/2021

Earlier today, Secretary of the Treasury Janet L. Yellen spoke with Indian Finance Minister Nirmala Sitharaman. Secretary Yellen emphasized India’s role as a critical partner in Asia and conveyed her intention to collaborate closely to support a strong global recovery from the COVID-19 pandemic, fight inequality, and advance a bold climate agenda. The Secretary looks forward to cooperating with Minister Sitharaman, both bilaterally and multilaterally, to address shared priorities.  

SEC Obtains Emergency Asset Freeze, Charges California Trader With Posting False Stock Tweets

Date 15/03/2021

The Securities and Exchange Commission today announced fraud charges and an asset freeze and other emergency relief against an Irvine, California-based trader who used social media to spread false information about a defunct company, while secretly profiting by selling his own holdings of the company's stock.

ISDA Publishes SBS Top-Up Protocol For SEC Dodd-Frank Rules

Date 15/03/2021

ISDA has today launched the ISDA 2021 Security-based Swaps (SBS) Top-Up Protocol, intended to help firms comply with certain SBS rules developed by the US Securities and Exchange Commission (SEC) as part of the Dodd-Frank Act.

Notice Of Election Released For CalPERS Board Elections

Date 15/03/2021

CalPERS has issued the official Notice of Election for the upcoming election of two (2) member-at-large representatives to the CalPERS Board of Administration.

Statement Of CFTC Commissioner Dan M. Berkovitz On Exchange Rules And Product Terms And Conditions That Fail To Impose Limits On Crude Oil “Trading At Settlement” Transactions

Date 15/03/2021

I.  Introduction

The Commission’s final rules on Position Limits for Derivatives (Position Limits Final Rules) become effective today, March 15, 2020.  In anticipation of this effective date, the New York Mercantile Exchange (NYMEX), a CFTC-registered designated contract market, “self-certified” amended product terms and conditions to raise the speculative position limits for its West Texas Intermediate (WTI) crude oil futures, including in the spot month.  NYMEX and other CME Group contract markets also requested and received Commission approval of new or amended rules relevant to their position limits.   These exchange regulatory filings implementing the Position Limits Final Rules miss an opportunity to remediate a well-known vulnerability in these contract markets’ Trading at Settlement (TAS) rules, namely the absence of any numerical limits on the speculative use of TAS contracts during the spot month of the contract.  Last year, the Commission failed to address this issue in its report on the April 20 collapse of WTI crude oil futures prices, as well as in the Position Limits Final Rules. Today, the contract markets also do not address this issue. 

MIAX Options Exchange - Updates To The SPIKES Special Settlement Auction Settlement Reference Price Opening Width And SPIKES Valid And Priority Quote Width Tables

Date 15/03/2021

Due to sustained market volatility, MIAX Options will continue to use the Settlement Reference Price Opening Width and Valid and Priority Quote Width tables detailed in MIAX Options Regulatory Circular 2021-04 for opening the SPY April 16, 2021 options used in the March 17, 2021 SPIKES Special Settlement Auction.

A Climate For Change: Meeting Investor Demand For Climate And ESG Information At The SEC, Acting Chair Allison Herren Lee, Washington D.C., March 15, 2021

Date 15/03/2021

Thank you, John [Podesta], and thanks to the whole team here at the Center for American Progress, for hosting me today. I’ve had the honor of serving as Acting Chair of the SEC for nearly two months now, and I appreciate the opportunity to reflect on the enhanced focus the SEC has brought to climate and ESG during that time, and on the significant work that remains. Along with shepherding the agency through the transition and supporting the work of the SEC staff, no single issue has been more pressing for me than ensuring that the SEC is fully engaged in confronting the risks and opportunities that climate and ESG pose for investors, our financial system, and our economy.

Moscow Exchange: Risk Parameters Change For The Security M-RM

Date 15/03/2021

As per the Securities market risk parameters methodology, on 15.03.2021, 19-56 (MSK) the upper bound of the price band (up to 1672) and initial margins (up to 40 %) for the security M-RM were changed. New values are available here

Public Input Welcomed On Climate Change Disclosures, Acting SEC Chair Allison Herren Lee, March 15, 2021

Date 15/03/2021

In light of demand for climate change information and questions about whether current disclosures adequately inform investors, public input is requested from investors, registrants, and other market participants on climate change disclosure.