News Centre

Office Of The Comptroller Of The Currency: Bank Secrecy Act/Anti-Money Laundering: Revised Order Granting Exemption From Customer Identification Program Requirements For Premium Finance Lending

Date 09/10/2020

Summary

The Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the National Credit Union Administration (collectively, the agencies), with the concurrence of the Financial Crimes Enforcement Network (FinCEN), today issued a revised order granting an exemption from the requirements of the customer identification program rules implementing section 326 of the USA PATRIOT Act for certain loans. The affected loans are those extended by banks1 and their subsidiaries under the jurisdiction of the agencies to customers to facilitate purchases of property and casualty insurance policies referred to as insurance premium finance lending or premium finance loans. This revised order extends the customer identification program exemption for premium finance loans to all customers of banks.

Updated: CFTC And The Office Of Financial Research Sign Memorandum Of Understanding To Allow Information Sharing

Date 09/10/2020

Commodity Futures Trading Commission Chairman Heath P. Tarbert and the Office of Financial Research (OFR) Director Dino Falaschetti today signed a Memorandum of Understanding that establishes a framework for the CFTC to share with OFR information and data reported on Form CPO-PQR, which is filed with the CFTC by CFTC-registered commodity pool operators (CPOs). The MOU also confirms both agencies’ commitment to working together to fulfill their statutory and regulatory mandates.

Nadex Temporarily Amends Binary Contracts Strike Width

Date 09/10/2020

Pursuant to Section 5c(c)(1) of the Commodity Exchange Act, as amended (“Act”), and Section 40.6(d) of the regulations promulgated by the Commodity Futures Trading Commission (the “Commission”) under the Act (the “Regulations”), North American Derivatives Exchange, Inc. (“Nadex”, the “Exchange”) hereby provides notice that due to increased volatility in the underlying markets upon which the Nadex contracts are based, Nadex made changes to the strike widths of various contracts during the week of October 5, 2020 as indicated in the Weekly Notice. 

NYSE Group Consolidated Short Interest Report

Date 09/10/2020

NYSE today reported short interest as of the close of business on the settlement date of September 30, 2020

Nasdaq Announces End-Of-Month Open Short Interest Positions In Nasdaq Stocks As Of Settlement Date September 30, 2020

Date 09/10/2020

At the end of the settlement date of September 30, 2020, short interest in 2,499 Nasdaq Global Market^SM securities totaled 8,379,625,495 shares compared with 8,187,114,108 shares in 2,466 Global Market issues reported for the prior settlement date of September 15, 2020. The end-of-September short interest represent 2.83 days average daily Nasdaq Global Market share volume for the reporting period, compared with 2.97 days for the prior reporting period.

CFTC: Federal Court Orders Pennsylvania Man And His Companies To Pay More Than $1.2 Million In Forex Trading Scheme

Date 09/10/2020

The Commodity Futures Trading Commission today announced that the U.S. District Court for the Eastern District of Pennsylvania entered an order of default judgment finding that Michael Salerno of Chadds Ford, Pennsylvania, and his companies Black Diamond Forex LP, BDF Trading LP, and Advanta FX, fraudulently solicited members of the public to become foreign currency (forex) traders. The defendants are required to pay more than $1.2 million.  

MIAX Options: Last Priority In Allocation Available To Initiating Members That Submit cPRIME Agency Orders

Date 09/10/2020

MIAX Options Members will allow Initiating Members that submit cPRIME Agency Orders to select last priority in allocation beginning January 11, 2021.
 

Exclusion Of cPRIME Orders From The Complex MIAX Options Price Collar Protection

Date 09/10/2020

MIAX Options will exclude cPRIME orders from the Complex MIAX Options Price Collar (“MPC”) Protection beginning January 11, 2021.

Investing In The Public Option: Promoting Growth In Our Public Markets Remarks At The SEC Speaks In 2020, SEC Commissioner Allison Herren Lee Oct. 8, 2020

Date 09/10/2020

Thank you, Stephanie [Avakian], for that kind introduction. I look forward to this conference every year because it provides an opportunity for a thoughtful, substantive dialogue between the Commissioners, the agency’s expert staff, and a wide range of market participants about the important work the Commission is undertaking on behalf of American investors and markets. This year is no exception, and although we are meeting today in a virtual format rather than the Ronald Reagan Building as in years past, I applaud the event’s organizers for their dedication to pressing ahead in the midst the current challenges. This year, perhaps more than most others, it is critical that the Commission and the Commissioners engage with market participants and the public about the challenges facing our markets.[1]

MIAX Options: New Complex Auction-On-Arrival-Only Order

Date 09/10/2020

MIAX Options will implement a new Complex Auction-on-Arrival-Only (“cAOAO”) order type on January 11, 2021.