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Japan Financial Services Agency Official Is Reappointed As The Chair Of The IOSCO Committee On Issuer Accounting, Audit And Disclosure (Committee 1)

Date 14/10/2020

The International Organization of Securities Commissions (IOSCO), the international body that brings together the world's securities regulators, reappointed Mr. Makoto Sonoda, Director for International Accounting and Director for International Capital Market Regulation of the Financial Services Agency (FSA), as the Chair of the IOSCO Committee on Issuer Accounting, Audit and Disclosure (a.k.a. Committee 1) (*) for a 2-year term from November 2020. The next Vice Chair is going to be Mr.Paul Munter (United States of America).
Securities Commission Malaysia: Only Fully Virtual General Meetings To Be Conducted In States Subject To Conditional Movement Control Order (CMCO)

Date 14/10/2020

The Securities Commission Malaysia today issued an update of the Guidance Note on the Conduct of General Meetings for Listed Issuers (Guidance Note) in line with the Conditional Movement Control Order (CMCO) which takes effect in Sabah, Selangor, Wilayah Persekutuan Kuala Lumpur and Putrajaya from 13 to 27 October 2020. The Guidance Note highlights that a general meeting conducted in states or districts under CMCO shall be conducted in a fully virtual manner only, where all shareholders participate in the meeting online.
SEC: Tamara Brightwell Named Deputy Director Of Division Of Corporation Finance’s Disclosure Review Program

Date 13/10/2020

The Securities and Exchange Commission today announced that Tamara M. Brightwell has been named Deputy Director of the Division of Corporation Finance’s Disclosure Review Program.
Updated: CFTC Staff Provides Reporting Relief for Swaps Related To Upcoming DCO Auctions As Part Of The Industry-Wide Initiative To Transition Away From LIBOR

Date 13/10/2020

The Division of Market Oversight of the Commodity Futures Trading Commission today announced it has provided swap transaction and pricing data reporting relief to specific derivatives clearing organizations (DCOs) and market participants participating in upcoming DCO auctions that will help transition certain cleared swaps from discounting using the Effective Federal Funds Rate (EFFR) to the Secured Overnight Financing Rate (SOFR). This discounting transition is an essential part of the industry-wide initiative to transition from swaps that reference the London Interbank Offered Rate (LIBOR), and other interbank offered rates, to swaps that reference alternative benchmarks.
SEC: Jessica Kane Named Director Of Division Of Corporation Finance’s Disclosure Review Program

Date 13/10/2020

The Securities and Exchange Commission today announced that Jessica S. Kane has been named Director of the Division of Corporation Finance’s Disclosure Review Program.

FIA Announces New Board Chair, Vice Chair And New Board Members

Date 13/10/2020

FIA today announced that the Board of Directors have elected Nicholas Rustad of J.P. Morgan Securities as Chair and Alicia Crighton of Goldman Sachs as Vice Chair of the FIA Board of Directors. Rustad had been serving as the Board’s Vice Chair and served as interim Chair following the retirement of Citi’s Jerome Kemp earlier this year. Crighton has served on the Board of Directors since 2018 and has been active in the Board’s diversity initiative.
CFTC Staff Provides Reporting Relief For Swaps Related To Upcoming DCO Auctions As Part Of The Industry-Wide Initiative To Transition Away From LIBOR

Date 13/10/2020

The Division of Market Oversight of the Commodity Futures Trading Commission today announced it has provided swap transaction and pricing data reporting relief to specific derivatives clearing organizations (DCOs) and market participants participating in upcoming DCO auctions that will help transition certain cleared swaps from discounting using the Effective Federal Funds Rate (EFFR) to the Secured Overnight Financing Rate (SOFR). This discounting transition is an essential part of the industry-wide initiative to transition from swaps that reference the London Interbank Offered Rate (LIBOR), and other interbank offered rates, to swaps that reference alternative benchmarks.
FINRA: New Research: U.S. Investors Unfazed By Pandemic-Related Market Volatility - African American And Hispanic Investors Showed Greatest Increase In Interest In Investing

Date 13/10/2020

Despite dramatic market volatility related to the COVID-19 pandemic during early 2020, investor optimism about the stock market remained high, and one in five Americans indicated an increased interest in investing, according to a new research study by the FINRA Foundation and NORC at the University of Chicago. At the same time, low levels of investment knowledge underscore the need for additional investment education opportunities, especially among African Americans and Hispanics, the research shows.
IMF: Intergovernmental Group Of Twenty-Four On International Monetary Affairs And Development, Chaired By Kenneth Ofori-Atta, Minister Of Finance Of Ghana

Date 13/10/2020

1. COVID-19 has spread rapidly around the world and in many emerging markets and developing countries (EMDCs) over the past six months. While countries are in different stages in containing the spread of the virus, several are still experiencing high levels of infection and deaths. While the global economy remains in recession, the global outlook has improved slightly as the economic decline in some major economies has been less severe than projected earlier. The economic impact of the global contraction and national measures taken to contain the pandemic, while varying across countries, has been severe for EMDCs overall. For the first time in decades, GDP growth in EMDCs, as a group, is expected to be negative this year. The pandemic is also exacerbating inequality, with millions of people losing their livelihood and falling into poverty.
CFTC: Federal Court Orders Affiliate Marketer To Pay More Than $13.8 Million For Binary Options Fraud

Date 13/10/2020

The Commodity Futures Trading Commission announced today that the U.S. District Court for the District of Hawaii entered an order of default judgment on September 14, 2020 finding that Peter Szatmari, formerly of Hawaii, fraudulently solicited U.S. residents to open binary options trading accounts. Szatmari is required to pay more than $13.8 million in connection with the fraud.