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CFTC Charges Former CEO Of Carbon Credit Project Developer With Fraud Involving Voluntary Carbon Credits - In First CFTC Actions For Fraud In The Voluntary Carbon Credit Market, CFTC Also Files And Settles Charges Against Project Developer And Former COO

Date 02/10/2024

The Commodity Futures Trading Commission today filed a complaint in the U.S. District Court for the Southern District of New York against Kenneth Newcombe of California, the former chief executive officer and majority shareholder of a Washington, D.C.-based carbon credit project developer, charging fraud and false, misleading, or inaccurate reports relating to voluntary carbon credits. The CFTC also issued orders filing and settling charges against Washington, D.C.-based CQC Impact Investors LLC (CQC) and against Jason Steele, CQC’s former chief operating officer. These are the first CFTC actions for fraud in the voluntary carbon credit market.

SEC Announces Departure Of Enforcement Director Gurbir S. Grewal - Sanjay Wadhwa, A 21-Year Agency Vet, Named Acting Director; Sam Waldon Named Acting Deputy Director

Date 02/10/2024

The Securities and Exchange Commission today announced that Gurbir S. Grewal, Director of the Division of Enforcement, will depart the agency, effective Oct. 11, 2024. Upon Mr. Grewal’s departure, Sanjay Wadhwa, the Division’s Deputy Director, will serve as Acting Director, and Sam Waldon, the Division’s Chief Counsel, will serve as Acting Deputy Director.

CFTC Charges Oregon Resident And His Corporation With Fraud Related To Leveraged Foreign Currency And Metals, And Failing To Register

Date 02/10/2024

The Commodity Futures Trading Commission today announced a civil enforcement action in the U.S. District Court for the District of Oregon against SimTradePro Inc., an Oregon corporation, and its founder, Robert L. Adams. The complaint alleges the defendants defrauded more than 100 U.S. customers out of at least $2.3 million; acted as an unregistered commodity pool operator and commodity trading advisor; failed to make the required disclosure regarding simulated or hypothetical trading results; and Adams acted as an unregistered associated person of an introducing broker.

Moscow Exchange Trading Schedule For 2025 Holidays

Date 02/10/2024

Moscow Exchange announces the trading schedule of its markets for the 2025 public holidays.

CME: Trading In Tuesday And Thursday Crude Oil Options Surpasses 100,000 Contracts As Demand Soars

Date 02/10/2024

CME Group, the world's leading derivatives marketplace, today announced that combined trading in its Tuesday and Thursday Crude Oil Weekly options has surpassed 100,000 total contracts traded since launching on July 22, 2024. This week, more than 50,000 Crude Oil Weekly options also traded on a single day for the first time ever as demand for short-term options soars.

Building A Community Banking Framework For The Future, Federal Reserve Governor Michelle W. Bowman, At The 2024 Community Banking Research Conference, Sponsored By The Federal Reserve System, The Conference Of State Bank Supervisors, And The Federal Deposit Insurance Corporation, St. Louis, Missouri

Date 02/10/2024

It is an honor to return to St. Louis for the 12th year of the Community Banking Research Conference.1 This conference is a model of effective partnership between the Federal Reserve and the Conference of State Bank Supervisors, and more recently, the Federal Deposit Insurance Corporation (FDIC). It is an opportunity for us all to dig deeper into the community banking model and the important role of community banks now and into the future. Together, regulators work to ensure that the approach to supervision and regulation is fit for purpose, and that each element of both supervision and regulation acts in a complementary manner. Policy disagreements are a healthy part of the process, but we must also strive to build consensus where we can. At a minimum, we must understand and respect our counterparts' and colleagues' viewpoints. Ultimately, we all share the same goal of promoting a safe and sound banking system.

BIS: Basel Committee Reports Member Jurisdictions Making Progress In Implementing Basel III

Date 02/10/2024

• Member jurisdictions have made significant progress in implementing the final elements of Basel III.
• Update sets out the adoption status of the Basel III framework in member jurisdictions as of end-September 2024.
• Committee will continue to closely monitor and assess the full and consistent implementation of Basel III standards.

DataLend: Securities Lending Revenue Down 6% Year-Over-Year To $2.49 Billion In Q3 2024

Date 02/10/2024

The global securities finance industry generated $2.49 billion in revenue for lenders in the third quarter of 2024, according to DataLend, the market data service of fintech EquiLend. The figure represents a 6% decrease from the $2.65 billion generated in Q3 2023.

​The EBA Publishes Its Work Programme For 2025

Date 02/10/2024

The European Banking Authority (EBA) published today its Work Programme outlining the key priorities and initiatives for 2025. Throughout next year, the EBA will be  i) implementing the EU Banking Package and enhancing the Single Rulebook, ii) enhancing risk- based and forward-looking financial stability for a sustainable economy, iii) enhancing data infrastructure and launching a data portal, iv) starting oversight and  supervisory activities under the Digital Operational Resilience Act (DORA) and Markets in Crypto-Assets Regulation (MiCAR), and v) developing consumer oriented mandates and ensuring a smooth transition to the new anti-money laundering and countering the financing of terrorism (AML/CFT) framework.

US Federal And State Financial Regulatory Agencies Issue Interagency Statement On Supervisory Practices Regarding Financial Institutions Affected By Hurricane Helene

Date 02/10/2024

The Federal Deposit Insurance Corporation, the Federal Reserve Board, the National Credit Union Administration, the Office of the Comptroller of the Currency, and state financial regulators, collectively the agencies, recognize the serious impact of Hurricane Helene on the customers and operations of many financial institutions and will provide appropriate regulatory assistance to affected institutions subject to their supervision. The agencies encourage institutions operating in the affected areas to meet the financial services needs of their communities.