News Centre

CFTC Charges Texas Man With Misappropriating Over $8.3 Million In Customer Funds - Defendant Agrees To Liability, Federal Judge Issues Permanent Injunction And Orders Registration, Trading Bans

Date 16/09/2020

The Commodity Futures Trading Commission today announced the filing of a civil enforcement action in the United States District Court for the Western District of Texas charging David Seibert, a Lakeway, Texas resident, with fraudulently soliciting and misappropriating more than $8.3 million of participant funds that he lost in undisclosed trading of commodity interests.

Federal Reserve Issues FOMC Statement

Date 16/09/2020

The Federal Reserve is committed to using its full range of tools to support the U.S. economy in this challenging time, thereby promoting its maximum employment and price stability goals.

MIAX Exchange Group - Options & Equities Markets - Reg SCI / SIFMA BCP Test Plan - October 24, 2020

Date 16/09/2020

As previously announced in the April 20, 2020 Alert, the MIAX Exchange Group will be participating in the 2020 SIFMA BCP Testing on Saturday, October 24, 2020.  All members that are required to test with  MIAX Options, MIAX PEARL Options, and/or MIAX Emerald Options exchanges in accordance with Regulation Systems Compliance and Integrity (Regulation SCI) have been notified.  In  anticipation of the September 25, 2020 launch of MIAX PEARL Equities exchange, the required MIAX PEARL Equities members have also been notified of their obligation to participate.  However, all members of MIAX Options, MIAX Emerald Options, MIAX PEARL Options, and MIAX PEARL Equities are encouraged to test.

Finansinspektionen Notifies The EU Regarding Extension Of The Existing Risk Weight Floor For Swedish Mortgages

Date 16/09/2020

Finansinspektionen has notified the EU Parliament, the Council, the Commission, the European Systemic Risk Board (ESRB) and the European Banking Authority (EBA) that it intends to adopt a decision to extend the current risk weight floor for Swedish Mortgages for a period of one year, in accordance with Article 458 of the CRR.

Commissioner Rostin Behnam To Discuss Managing Climate Risk In The US Financial System At Duke Law School Event

Date 16/09/2020

tZERO Achieves Record Results In August 2020 - The tZERO ATS Traded $22.0M In Digital Securities; Total Crypto App Users Grew By 11% Over The Prior Month

Date 16/09/2020

Expert Comment: UK Financial Conduct Authority’s Decision - Notice Against Corrado Abbattista For Market Manipulation, Duff & Phelps

Date 16/09/2020

Nick Bayley Managing Director, Head of UK Regulatory Consulting of Duff & Phelps comments on the FCA’s Decision Notice against Corrado Abbattista for market manipulation:

“This is FCA’s very first market abuse outcome under the EU Market Abuse Regulation, which went live in July 2016.  We can see from its Annual Report that the regulator had 29 market manipulation cases open as at 31 March this year, so hopefully other outcomes will follow quickly in its wake."

Opening Remarks At The September 16, 2020 Meeting Of The Asset Management Advisory Committee, SEC Chairman Jay Clayton, Sept. 16, 2020

Date 16/09/2020

Welcome everyone to today’s Meeting of the Commission’s Asset Management Advisory Committee, or AMAC, including everyone joining us virtually or listening to the meeting through the Commission’s website. I am glad that the important work of both the Committee and, more broadly, the Commission can continue uninterrupted as we remain in our current telework posture.

UK Financial Conduct Authority Publishes Decision Notice Against Corrado Abbattista For Market Manipulation

Date 16/09/2020

The FCA has published a Decision Notice today in respect of Corrado Abbattista, an experienced trader and a portfolio manager, partner and Chief Investment Officer at Fenician Capital Management LLP, for market abuse, imposing a financial penalty of £100,000 and prohibiting him from performing any functions in relation to regulated activity.

Refinitiv Announces The 2020 D&I Index Top 100 Most Diverse & Inclusive Organizations Globally

Date 16/09/2020

• Refinitiv D&I Index measures relative performance against multiple factors that define diverse and inclusive workplaces.
• Industries leading this year’s index: 18 banking, investment services & insurance; 9 pharmaceuticals; 7 telecommunications services, specialty retailers and personal & household products & services.
• United States leads Top 100 list: 20 firms followed by United Kingdom 13, Australia 9, Canada and France 7.  
• Refinitiv Diversity & Inclusion report shows progress across cultural and gender board diversity: EMEA leads the way with the most culturally and gender diverse boards. Regionally, Africa is leading the way with on average 34% of female managers.