News Centre

SEC Adopts Modernized Marketing Rule For Investment Advisers

Date 22/12/2020

The Securities and Exchange Commission today announced it had finalized reforms under the Investment Advisers Act to modernize rules that govern investment adviser advertisements and payments to solicitors. The amendments create a single rule that replaces the current advertising and cash solicitation rules. The final rule is designed to comprehensively and efficiently regulate investment advisers’ marketing communications.

Global Oncology Appoints Nigerian Stock Exchange Council President, Ogunbanjo, As Global Ambassador

Date 22/12/2020

Global Oncology (GO)has appointed Otunba Abimbola Ogunbanjo, President of the National Council of The Nigerian Stock Exchange (NSE or The Exchange) as one of its three global ambassadors for its Cervical Cancer-Free Nigeria (CCFN) campaign. The CCFN campaign seeks to eradicate virus-driven diseases such as cervical cancer by educating Nigerians about vaccine safety and efficacy. 

SEC Awards Over $1.6 Million To Whistleblower

Date 22/12/2020

The Securities and Exchange Commission today announced an award of more than $1.6 million to a whistleblower whose tip significantly contributed to the success of an enforcement action.  The whistleblower produced critical information about an ongoing fraudulent scheme and provided extensive assistance to the investigative staff, including by participating in meetings and furnishing high-quality evidence.

EBA Publishes Executive Summary Of Its 2019 Annual Report

Date 22/12/2020

The European Banking Authority (EBA) published today the Executive Summary of its 2019 Annual Report, summarising the Authority's key achievements in the past year and outlining the key priorities for 2020.

CFTC: Wisconsin Court Enters $740,968 Judgement Against Company And Its Principal For Registration, Disclosure, And Recordkeeping Violations

Date 22/12/2020

The Commodity Futures Trading Commission announced the U.S. District Court for the Eastern District of Wisconsin entered permanent trading and registration bans and a $740,968 civil monetary penalty against Southwest Services, L.L.C. a/k/a South West Services, LLC and its sole managing member, Timothy A. Sack of Oshkosh, Wisconsin. The court’s action follows the CFTC’s filing of a civil enforcement action against the defendants in October 2020. [See CFTC Press Release No. 8279-20]

EBA Updates Reporting Framework 3.0 And Technical Standards On Pillar 3 Disclosure

Date 22/12/2020

The European Banking Authority (EBA) published today an update to the reporting framework 3.0 and the Implementing Technical Standards (ITS) on institutions’ Pillar 3 public disclosures. These updates are the result of the European Commission’s adoption of the ITS on Supervisory Reporting (v3.0) on 17 December, the EBA publication of the revised version of the mapping between disclosures and reporting, and the  EBA release of phase 1 of its technical package on the reporting framework v3.0.

IOSCO Seeks To Help Regulators Address Retail Market Conduct Risks During Stress Events Such As COVID-19

Date 22/12/2020

The Board of the International Organization of Securities Commissions today published a report that seeks to assist regulators in responding to the retail market conduct issues caused by stress events such as the current COVID-19 pandemic. Enhancing investor protection and investor confidence in the integrity of securities markets are fundamental objectives for IOSCO.

EBA Monitors The Use Of The Proportionality Principle For Recovery And Resolution Planning

Date 22/12/2020

The European Banking Authority (EBA) published today its second Report on the application of simplified obligations and waivers under the Bank Recovery and Resolution Directive (BRRD) across the EU. The Report presents the results of the EBA monitoring on how competent and resolution authorities have applied the principle of proportionality for recovery and resolution planning in their respective jurisdictions, and describes the current level of convergence in this area. The EBA observed an increase in a number of authorities applying simplified obligations for less significant banks, especially for resolution planning purposes. There was a higher convergence when assessing which institutions are eligible for simplified obligations. However, significant divergences remained in determining reduced requirements for institutions benefiting from simplified regimes where the regulatory framework does not provide detailed guidance.

ESMA Issues 2020 Report On Accepted Market Practices Under MAR

Date 22/12/2020

EBA Proposes Appropriate Methodology To Calibrate O-SII Buffer Rates

Date 22/12/2020

The European Banking Authority (EBA) proposed today the implementation of an EU-wide floor methodology to calibrate buffer rates of Other Systemically Important Institutions (O-SIIs). The proposed methodology included in the Report aims at  strengthening the stability of the banking sector and avoiding the under-calibration of O-SII capital buffer rates, while allowing the relevant authorities to consider national banking sector specificities. The proposed methodology will inform the European Commission’s further legislative initiatives that could shape the introduction of such an EU-wide floor.