News Centre

ASIC: Avrohom Kimelman And Don Evans Charged With Market Manipulation Offences

Date 28/09/2020

Former Quantum Resources Ltd (Quantum) director Avrohom Mordechai Kimelman, of St Kilda East Victoria, and Don George Evans, of Inglewood WA, appeared on Friday 25 September 2020 in Perth Magistrates’ Court charged with alleged market manipulation offences.

CFFEX: Notice On Relevant Arrangements During Mid-Autumn Festival And National Day Holiday 2020

Date 28/09/2020

According to the Notice on Market Close for Certain Public Holidays 2020 and Measures of China Financial Futures Exchange on Risk Control, China Financial Futures Exchange hereby announces the following arrangements during the Mid-autumn Festival and National Day holiday 2020.

DIFC FinTech Hive’s Accelerator Programme To Advance The Role Of Women In Financial Services

Date 26/09/2020

• A female-focused career mentorship accelerator programme to empower women in financial services
• 14 young women starting their careers within financial services selected for the programme
• Mentees are given access to over 20 workshops provided by DIFC FinTech Hive’s network of partners

US Department Of Justice: Two Former Deutsche Bank Traders Convicted Of Engaging In Deceptive And Manipulative Trading Practices In U.S. Commodities Markets

Date 25/09/2020

A Chicago federal jury found two former employees of Deutsche Bank, a global financial institution, guilty today of fraud charges for their respective roles in fraudulent and manipulative trading practices involving publicly-traded precious metals futures contracts.

CFTC Commissioner Brian Quintenz Statement Of Support For OCR No-Action Relief

Date 25/09/2020

The Commission adopted revisions to its Ownership and Control Reports (OCR) regime in 2013.  The updated forms were supposed to provide the Commission with greater insight into who owns and who controls futures and swaps accounts.  They were also supposed to provide the Commission with information, for the first time, about market participants who trade large volumes in the futures and swaps markets, but end the day without reportable positions.  Unfortunately, the 2013 revisions have proven to be unworkable for reporting entities.  For example, reporting entities have found impractical the low 50-contract reporting threshold and the requirement to report to the Commission the names of trading account owners by 9 a.m. ET on the business day following the day on which the account becomes reportable.  This is why some of the requirements have been the subject of successive no-action letters since the 2013 amendments.  I support today’s extension of no-action relief that provides critical relief from the most burdensome and confusing requirements of the OCR forms.

Financial Stability Oversight Council Meeting

Date 25/09/2020

On Friday, September 25, Secretary Mnuchin presided over a meeting of the Financial Stability Oversight Council (Council).

The Dodd-Frank Wall Street Reform and Consumer Protection Act requires the Council to convene no less than quarterly, but the Council has historically convened on a more frequent basis. The meetings bring Council members together to discuss and analyze emerging market developments and financial regulatory issues.  The Council is committed to conducting its business as openly and transparently as practicable, given the confidential supervisory and sensitive information at the center of its work.  Consistent with the Council's transparency policy, the Council opens its meetings to the public whenever possible. 

SEC Issues Two Whistleblower Awards For High-Quality Information Regarding Overseas Conduct

Date 25/09/2020

The Securities and Exchange Commission today announced two separate whistleblower awards for total payments of over $2.5 million. 

CFTC Staff Extends Relief From Certain Reporting Obligations Under The Ownership And Control Reports Final Rule

Date 25/09/2020

The Commodity Futures Trading Commission’s Division of Market Oversight (DMO) today issued a no-action letter that extends current relief from reporting obligations under the ownership and control reports final rule (OCR Final Rule). The OCR Final Rule, approved in 2013, requires the electronic submission of trader identification and market participant data.

June Bug vs. Hurricane:* Whistleblowers Fight Tremendous Odds And Deserve Better, SEC Commissioner Allison Herren Lee, Sept. 23, 2020

Date 25/09/2020

In recent times, it seems that nearly every day has provided us with an opportunity to appreciate the contributions of whistleblowers. Often, they display extraordinary bravery to expose fraud and wrongdoing, and to shine light in some very dark places. In doing so, they reinforce our fundamental values – that the rule of law matters, and no one is, or should be, above the law. All too often, sometimes very publicly and sometimes in the shadows, those whistleblowers face retaliation from the powerful figures they expose. They help create transparency, and from transparency flows crucial accountability. Unfortunately, today’s rules do not serve these individuals well.

CFTC Commitments Of Traders Update

Date 25/09/2020

The current reports for the week of September 22, 2020 are now available.