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Protecting Everyday Investors And Preserving Market Integrity: The SEC’s Division Of Enforcement, Stephanie Avakian, Director, Division Of Enforcement, Sept. 17, 2020, Remarks At The Institute For Law And Economics, University Of Pennsylvania Carey Law School Virtual Program

Date 17/09/2020

Introduction

Good afternoon and thank you for inviting me to speak today. And thank you Jay for your kind remarks. Before I begin, I am required to tell you that the views I express here today are my own and do not necessarily represent the views of the Commission or its staff.

US Department Of Justice: Former Foreign Exchange Trader Sentenced To Prison For Price Fixing And Bid Rigging

Date 17/09/2020

Akshay Aiyer, a former currency trader at a major multinational bank, was sentenced to serve eight months in jail and ordered to pay a $150,000 criminal fine for his participation in an antitrust conspiracy to manipulate prices for emerging market currencies in the global foreign currency exchange (FX) market, the Justice Department announced today.

New Zealand Financial Markets Authority Files Criminal Charges In Relation To Forestlands

Date 17/09/2020

Updated: The individual facing charges can now be named as Rowan Charles Kearns, the founder and sole director of the Forestlands group.

Investor-Focused, Nimble And Vigorous Enforcement At The SEC, Chairman Jay Clayton, Sept. 17, 2020

Date 17/09/2020

Perspectives on Oversight, Management and Performance

Introduction

Good afternoon and welcome to a discussion of how we oversee, manage and measure the performance of the SEC’s Enforcement program. I will begin with some important acknowledgements.

Federal Reserve Board Releases Hypothetical Scenarios For Second Round Of Bank Stress Tests

Date 17/09/2020

The Federal Reserve Board on Thursday released its hypothetical scenarios for a second round of bank stress tests. Earlier this year, the Board's first round of stress tests found that large banks were well capitalized under a range of hypothetical events. An additional round of stress tests is being performed due to the continued uncertainty from the COVID event.

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.