News Centre

Statement On Good Faith Determinations Of Fair Value Under The Investment Company Act Of 1940 Final Rule, SEC Commissioner Hester M. Peirce Dec. 3, 2020

Date 03/12/2020

Let me begin by thanking the hardworking men and women of the Divisions of Investment Management and Economic and Risk Analysis, the Offices of the Chief Accountant, and General Counsel, and others at the Commission for their commitment to completing this difficult, long-overdue rulemaking. Fair valuation is one of many duties of modern mutual fund boards, It is one of the few duties specifically mentioned in the Investment Company Act and it is, without question, one of the board’s more important responsibilities. Realistically, however, fair valuation is a big job, and the board needs the assistance of others in carrying it out. The rule we are adopting today gives boards a clear path for getting the help they need to perform their statutory duty. Although today’s rule is a much-needed step forward, a non-exclusive safe harbor or a rule that gave boards more discretion would have been even better.

Cboe Advances ETP Market Leadership, Becomes 2nd Largest Primary Listings Exchange In The U.S.

Date 03/12/2020

• 35 percent of all new ETP launches this year have occurred on Cboe BZX Equities Exchange
• Cboe now home to more than 400 ETPs in the U.S., representing over $370 billion in assets under management
• Since investing in its listings business in 2015, Cboe has grown ETPs on its exchange by 1,400 percent

SEC Modernizes Framework For Fund Valuation Practices

Date 03/12/2020

The Securities and Exchange Commission today announced that it voted to adopt a new rule that establishes an updated regulatory framework for fund valuation practices.  The rule is designed to clarify how fund boards of directors can satisfy their valuation obligations in light of market developments, including an increase in the variety of asset classes held by funds and an increase in both the volume and type of data used in valuation determinations.

CFTC Orders Vitol Inc. To Pay $95.7 Million For Corruption-Based Fraud And Attempted Manipulation, First CFTC Enforcement Action Involving Foreign Corruption

Date 03/12/2020

The Commodity Futures Trading Commission today issued an order filing and settling charges against Vitol Inc., an energy and commodities trading firm in Houston, Texas, for manipulative and deceptive conduct. The conduct, which spanned from 2005 to early 2020, involved foreign corruption and physical and derivatives trading in the U.S. and global oil markets, including attempted manipulation of two S&P Global Platts physical oil benchmarks. The order requires Vitol to pay more than $95 million in civil monetary penalties and disgorgement.

SEC Announces Office Focused On Innovation And Financial Technology - FinHub Specialized Unit To Become Stand-Alone Office

Date 03/12/2020

The Securities and Exchange Commission today announced that the SEC's Strategic Hub for Innovation and Financial Technology, commonly referred to as FinHub, will become a stand-alone office. Valerie A. Szczepanik will continue to lead FinHub as its first director and will report directly to the SEC Chairman.

Canadian Securities Regulators Seek Comment On Activist Short Selling

Date 03/12/2020

The Canadian Securities Administrators (CSA) today published a consultation paper to facilitate discussion about activist short selling.

Cboe Global Markets Reports November 2020 Trading Volume

Date 03/12/2020

• U.S. Equities total ADV up 51 percent from November 2019
• European Equities total ADNV up 33 percent from November 2019
• Options total ADV up 50 percent from November 2019
• ADV in VIX options up 37 percent from November 2019
• Global FX total ADNV up 32 percent from November 2019

OECD Tax Revenues Fall Slightly Before The COVID-19 Pandemic, But Countries Face Much Larger Decreases Ahead, Particularly From Consumption Taxes

Date 03/12/2020

Tax revenues fell across the OECD for the first time in a decade during 2019, but a much larger decrease is expected in 2020 as the COVID-19 pandemic drives down economic activity and consumption tax revenues, according to new OECD research published today.

Colombia Draws On IMF Flexible Credit Line To Address The COVID-19 Pandemic

Date 03/12/2020

• The Colombian government has made a drawing of US$ 5.4 billion under the Flexible Credit Line (FCL) arrangement in the context of the pandemic. The authorities will use the drawing to help meet higher financing needs whilst maintaining strong external buffers in a context of heightened global uncertainty.
• With access under the FCL arrangement raised on September 25, 2020, the remaining amount available to Colombia under the credit line stands at US$ 12.2 billion (SDR 8.517 billion) after the drawdown. The authorities intend to treat this remaining amount under the FCL as precautionary.
• Combined with the comfortable level of international reserves that Colombia has, the FCL provides added insurance against external downside risks

Quarterly Adjustment Of GPW Benchmark Indices

Date 03/12/2020

GPW Benchmark announces the quarterly adjustment of WIG20, mWIG40, sWIG80 and WIG30 indices portfolios. Changes will come into force after close of business on December 18, 2020.