News Centre

Canadian Securities Regulators Adopt Ban On Trailing Commissions For Order-Execution-Only Dealers

Date 17/09/2020

The Canadian Securities Administrators (CSA) today adopted final rules that implement a trailing commission ban (OEO trailer ban) to prohibit the payment of trailing commissions by fund organizations to dealers who do not make a suitability determination, such as order-execution-only (OEO) dealers.

Statements Of Concurrence By CFTC Commissioner Rostin Behnam Regarding Final Rules On Real-Time Public Reporting, Swap Data Recordkeeping, And Swap Data Repositories

Date 17/09/2020

I respectfully concur in the Commission’s amendments to its regulations regarding real-time public reporting, recordkeeping, and swap data repositories.  The three rules being finalized together today are the culmination of a multi-year effort to streamline, simplify, and internationally harmonize the requirements associated with reporting swaps.  Today’s actions represent the end of a long procedural road at the Commission, one that started with the Commission’s 2017 Roadmap to Achieve High Quality Swap Data.

Lucy’s Human: Remarks At Virtual Roundtable On The Role Of Asset Management In ESG Investing Hosted By Harvard Law School And The Program On International Financial Systems, SEC Commissioner Hester M. Peirce, Sept. 17, 2020

Date 17/09/2020

Thank you, John [Gulliver] and thanks Hal [Scott] for inviting me to be part of this forum. It is a pleasure to be here with you all today. The views I express are my own and do not necessarily represent those of the Commission or my fellow Commissioners. For that matter, they may not represent the views of anyone else sharing this virtual conference hall.

Statement Of CFTC Commissioner Dawn D. Stump Regarding Final Rules: Swap Data Reporting

Date 17/09/2020

I am very pleased to be here today finalizing improvements to the Commission’s swap data reporting rules[1], which I will refer to collectively as the “Final Rules.”  I have always felt that the entire suite of swap data reporting rules must be considered holistically to ensure that the CFTC delivers the best regulations possible.  I am happy to see that the Commission will today act on all three of these Final Rules concurrently. 

Statement At The SEC Regulation Think-In 2020 Conference, Dalia Blass, Director, Division Of Investment Management, Sept. 16, 2020

Date 17/09/2020

Introduction

Hello, and thank you, Mark [Berman] and Jim [Burns], for inviting me to be part of this conference.  It’s a pleasure to join you and the many representatives from the international community of investment advisers in attendance.

Supporting Statement Of CFTC Commissioner Brian Quintenz Regarding Amendments To The Commission’s Regulations Relating To SDR And Data Reporting Requirements

Date 17/09/2020

I am pleased to support today’s final rule that will improve the accuracy of data reported to, and maintained by, CFTC-registered swap data repositories (SDRs).  Data collected by SDRs provides a crucial source of information to the CFTC as it discharges its statutory responsibilities to supervise regulated entities, monitor the derivatives markets, and enforce the Commodity Exchange Act.  Today’s rule makes sensible adjustments to how reporting counterparties submit swap data to SDRs and how SDRs fulfill their responsibilities as Commission registrants.  These adjustments are based on the almost decade-long experience of the CFTC staff in supervising SDRs and reviewing swap data, as well as the public’s informed comments to the proposal.

Remarks At The September 16, 2020 Meeting Of The Asset Management Advisory Committee, Dalia Blass, Director, SEC Division Of Investment Management, Sept. 16, 2020

Date 17/09/2020

Good morning and welcome to the fourth meeting of the Asset Management Advisory Committee.

Statement Of CFTC Chairman Heath P. Tarbert In Support Of Final Rules On Swap Data Reporting

Date 17/09/2020

I am pleased to support today’s final swap data reporting rules under Parts 43, 45, and 49 of the CFTC’s regulations, which are foundational to effective oversight of the derivatives markets.  As I noted when these rules were proposed in February, “[d]ata is the lifeblood of our markets.”  Little did I know just how timely that statement would prove to be. 

SEC Awards Almost $250,000 To Joint Whistleblowers

Date 17/09/2020

The Securities and Exchange Commission today announced an award of nearly $250,000 to joint whistleblowers whose tip caused the opening of an investigation that resulted in a successful enforcement action. The whistleblowers raised concerns internally before reporting the concerns to the Commission.

Canadian Securities Regulators Propose Changes To The Offering Memorandum Prospectus Exemption

Date 17/09/2020

The Canadian Securities Administrators (CSA) today published for comment proposed changes to the offering memorandum prospectus exemption. The changes are reflected in proposed amendments to National Instrument 45-106 Prospectus Exemptions (NI 45-106), as well as proposed changes to Companion Policy 45-106CP Prospectus Exemptions.