News Centre

CFTC Orders Canadian Imperial Bank Of Commerce To Pay $30 Million For Recordkeeping And Supervision Failures For Firm-Wide Use Of Unapproved Communication Methods

Date 24/09/2024

The Commodity Futures Trading Commission today issued an order simultaneously filing and settling charges with Canadian Imperial Bank of Commerce (CIBC), a swap dealer, for failing to maintain and preserve records that were required to be kept under CFTC recordkeeping requirements and failing to diligently supervise matters related to its business as a CFTC registrant.

A Catalyst: Statement On Qatalyst Partners LP, SEC Commissioner Hester M. Peirce, SEC Commissioner Mark T. Uyeda, Sept. 24, 2024

Date 24/09/2024

Over the last several years, off-channel communications cases have become more prevalent on the Commission’s enforcement docket. We have struggled with these cases. While we supported many of them initially, it was not without deep reservations. Recently, we have objected to the penalties and undertakings in most of these cases. Today’s case against Qatalyst Partners LP[1] illustrates and confirms the reason for our reservations: it does not appear that firms have an achievable path to compliance. Accordingly, we voted no on Qatalyst Partners LP, and urge our colleagues to reconsider our current approach to the off-channel communications issue.

Eleven Firms To Pay More Than $88 Million Combined To Settle SEC’s Charges For Widespread Recordkeeping Failures - One Additional Firm Will Not Pay A Penalty Because It Self-Reported, Self-Policed, And Demonstrated Substantial Efforts At Compliance

Date 24/09/2024

The Securities and Exchange Commission today announced charges against 12 firms, comprising broker-dealers, investment advisers, and one dually-registered broker-dealer and investment adviser, for widespread and longstanding failures by the firms and their personnel to maintain and preserve electronic communications in violation of recordkeeping provisions of the federal securities laws.

Recent Views On Monetary Policy And The Economic Outlook, Federal Reserve Governor Michelle W. Bowman, At The 2024 Kentucky Bankers Association Annual Convention, Hot Springs, Virginia

Date 24/09/2024

Good morning. I would like to thank the Kentucky Bankers Association for the invitation to join you today for your annual convention. I appreciate the opportunity to share my views on the U.S. economy and monetary policy before we engage on community banking issues and other matters affecting the banking industry.

ICE Further Automates Credit Dispute Processing For Servicers With Enhancements To Credit Bureau Management

Date 24/09/2024

Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of technology and data, today announced enhancements that allow the ICE Credit Bureau Management solution to automate the credit dispute process and help servicers save critical time as they work to meet their 30-day reporting obligations under the Fair Credit Reporting Act.

Change For The Better: The UK Financial Conduct Authority’s Evolving Approach To Enforcement - Speech By Therese Chambers, Joint Executive Director Of Enforcement And Market Oversight, Delivered At AFME Annual European Compliance And Legal Conference

Date 24/09/2024

Key messages:

• We are adapting our approach to enforcement to meet evolving threats and maximise the deterrent effect.
• We are making our investigations faster and more focused to nip financial crime in the bud and send timely signals to markets and consumers.
• Enforcement is just one of our tools – industry cooperation, assertive supervision and intervention powers are also key in dealing with harm.

ICE Launches New Suite Of Physical Climate Risk Municipal Indices Integrating ICE Climate Risk Scores - Five New Indices To Track Performance Of Securities Of Obligors Exposed To Climate Risk, Uses ICE Climate Risk Scores

Date 24/09/2024

Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of technology and data, today announced that it has launched a new suite of climate risk municipal indices, using the ICE Climate Risk Score, aimed at tracking the performance of securities selected based on exposure to acute climate risks.

BGC Group Launches FMX Futures Exchange - Exchange Launches With SOFR Futures

Date 24/09/2024

BGC Group, Inc. (Nasdaq: BGC) and ten of the world’s leading investment banks and market-making firms today announced the successful launch of the highly anticipated FMX Futures Exchange. The exchange is now open for trading SOFR futures, the largest notional futures contract in the world, and will add U.S. treasury futures in the first quarter of 2025.

Deutsche Boerse Cooperates In EU Antitrust Investigation

Date 24/09/2024

Deutsche Boerse has confirmed that its premises were recently searched as part of an ongoing European Union antitrust investigation.

ONWARD Medical Lists On Euronext Paris

Date 24/09/2024

• Market capitalisation of €175.914 million