News Centre

UK Financial Conduct Authority: Announcements On The End Of LIBOR

Date 05/03/2021

The FCA has announced the dates that panel bank submissions for all LIBOR settings will cease, after which representative LIBOR rates will no longer be available. This is an important step towards the end of LIBOR, and the Bank of England and FCA urge market participants to continue to take the necessary action to ensure they are ready.

Tokyo Stock Exchange: Launch Of "JPX English Disclosure GATE"

Date 05/03/2021

Tokyo Stock Exchange, Inc. (TSE) has today launched "JPX English Disclosure GATE", a web portal for English disclosure, to promote better English disclosure from listed companies and increase investment opportunities for overseas investors.

B3 Announces Results For The Fourth Quarter Of 2020

Date 04/03/2021

B3 S.A. – Brasil, Bolsa, Balcão B3 S.A. – Brasil, Bolsa, Balcão (ticker: B3SA3) reports today its fourth quarter (4Q20) earnings. Total revenues reached R$2,537.7 million, a 44.3% increase over the same period of the previous year (4Q19), while recurring EBITDA totaled R$1,728.9 million, up by 46.5% year-over-year (yoy). The Company’s recurring net income totaled R$1,159.6 million.

New Zealand Financial Markets Authority Publicly Warns Financial Adviser For KiwiSaver Advice In Wake Of COVID-19

Date 04/03/2021

The Financial Markets Authority (FMA) has issued a public warning to a financial adviser due to advice he gave clients in relation to their KiwiSaver and other investments following COVID-19 market volatility.

ISDA- The Swap: Episode 8: Diversity And Derivatives

Date 04/03/2021

The financial industry has increased its focus on improving gender diversity in the workforce in recent years, but there is still a long way to go. How can firms gain momentum in tackling this issue and what impact has the coronavirus pandemic had on diversity initiatives? PIMCO’s Tracey Jordal and Amanda Pullinger from 100 Women in Finance give their perspectives.

First-Of-Its-Kind Study Identifies Drivers Of Chronic Fraud Victimization - AARP, FINRA Investor Education Foundation And Heart+Mind Strategies Identify Key Intervention Opportunities

Date 04/03/2021

AARP, the FINRA Investor Education Foundation (FINRA Foundation) and Heart+Mind Strategies today released Addressing the Challenge of Chronic Fraud Victimization, a study that identifies evidence-based ways to help repeat victims of financial fraud and their families. The study, published in recognition of National Consumer Protection Week (NCPW), used a behavior model to help illuminate factors that may contribute to repeat or chronic victimization by financial fraud schemes.

SIFMA Joins Coalition Letter Highlighting Problems With The PRO Act

Date 04/03/2021

SIFMA today joined a coalition of trade associations, whose combined members provide financial services to more than 112 million American families, in a letter to Congressional leadership highlighting problems and possible unintended consequences of provisions within H.R. 842, known as the PRO Act:

“By effectively reclassifying independent contractors as employees, the PRO Act would create unintended consequences for the industry, and specifically insurance producers and independent financial advisors. These individuals are vital to ensuring that Main Street Americans have access to the important advice, products and services necessary to achieve their financial goals and protect their homes, families and businesses. In times of catastrophe, insurers engage independent contractors to provide a faster response for consumers experiencing loss. The PRO Act’s ‘ABC test’ could eliminate the choice a majority of practitioners have made to serve clients independently. In turn that could drastically reduce clients’ ability to access high quality advice for their insurance, investment and retirement security needs.”

CFTC Financial Data For Futures Commission Merchants Update

Date 04/03/2021

Futures commission merchants (FCMs) and retail foreign exchange dealers (RFEDs) must file monthly financial reports with the CFTC's Division of Swap Dealer and Intermediary Oversight (DSIO) within 17 business days after the end of the month. Selected financial information from these reports is published below. The most recent month-end information generally is added within 12 business days after FCMs and RFEDs file their reports, but occasionally may be added later. For example:  The 17th business day filing “due date" for February 28, 2015 financial reports was March 25, 2015.  The 12 business day target for posting these data was April 10, 2015.

Enhancing Focus On The SEC’s Enhanced Climate Change Efforts: SEC Commissioner Hester M. Peirce, SEC Commissioner Elad L. Roisman, March 4, 2021

Date 04/03/2021

Over the past two weeks, we and the public have seen a steady flow of SEC “climate” statements and press releases.[1]  Our Divisions of Corporation Finance, Examinations, and Enforcement all have announced climate- or ESG-related initiatives.  What does this “enhanced focus” on climate-related matters mean?  The short answer is: it’s not yet clear.  Do these announcements represent a change from current Commission practices or a continuation of the status quo with a new public relations twist?  Time will tell.  In the meantime, it is important to contextualize the recent announcements by providing some historical and procedural background. 

New York State Department Of Financial Services Superintendent Lacewell Announces Grant Of Dfs Trust Charter To Bitgo To Engage In New York’s Growing Virtual Currency Market

Date 04/03/2021

Superintendent of Financial Services Linda A. Lacewell announced today that the New York State Department of Financial Services (DFS) has granted a charter under New York Banking Law to BitGo New York Trust Company LLC (Bitgo NY) to operate as a limited liability trust company. With DFS approval, BitGo NY is authorized to provide digital asset custody and other related services to New York customers, including DFS supervised entities authorized to engage in virtual currency activity.