News Centre

ASIC: Guidance For Company Officers And Company Auditors On The Whistleblower Protection Regime

Date 30/06/2020

ASIC has released new information sheets to help companies, company officers and company auditors understand and comply with their obligations under the corporate whistleblower protection regime.

Hong Kong Securities And Futures Commission Office Relocation

Date 30/06/2020

The Securities and Futures Commission (SFC) is pleased to announce the relocation of its office.

Montréal Exchange Interest Rate Derivative Trading Ceases At 1:30 p.m. Today - Exchange's Markets Closed On July 1, 2020

Date 30/06/2020

Interest rate derivative trading will cease at 1:30 p.m. today, June 30, 2020. Furthermore, the Exchange's markets will be closed on July 1, 2020.

SIFMA Statement On New DOL Proposal

Date 29/06/2020

SIFMA today released the following statement from Kenneth E. Bentsen, Jr., SIFMA president and CEO, regarding the newly released rule from Department of Labor (DOL) on prohibited transaction exemptions and fiduciary advice:

“We applaud the Department of Labor’s work to preserve investor choice, which allows for many different investment advice and education options consistent with the Securities and Exchange Commission’s new heightened standard Regulation Best Interest (Reg BI).  The standards of conduct under the proposed DOL exemption will be aligned with the standards required by Reg BI, offering compliance efficiencies.  In addition, putting back in the Federal Register the five-part test that applies for fiduciary advice in light of the 2018 decision from the 5th U.S. Circuit Court of Appeals provides important clarification of the law.”

BOX Exchange: Change To Technology Fee Billing Process

Date 29/06/2020

Effective July 1, 2020, BOX Exchange LLC (the “Exchange”) will change the billing process for all monthly fees under Section VI of the BOX Fee Schedule (Technology Fees).

New Zealand Financial Markets Authority Publishes NZX Obligations Annual Review

Date 29/06/2020

NZX met its statutory obligations as a licensed market operator for the period 1 January to 31 December 2019, according to the Financial Markets Authority (FMA)’s annual review.

CFTC Orders Illinois Firm To Pay $250,000 For Supervision Violations - Failure To Supervise Put Seniors’ Retirement Savings At Risk

Date 29/06/2020

The Commodity Futures Trading Commission today issued an order filing and settling charges against Cunningham Commodities, LLC, a registered futures commission merchant with its principal place of business in Itasca, Illinois, for failing to diligently supervise accounts set up by an introducing broker whose activities it guaranteed (GIB).

SEC Updates Filing Threshold To Rule 17h Reporting Requirements For Broker-Dealers

Date 29/06/2020

The Securities and Exchange Commission today issued an order to update the filing threshold for broker-dealers’ Form 17-H filings made pursuant to Exchange Act Rules 17h-1T and Rule 17h-2T. The threshold, which had not been updated in nearly 30 years, will exempt certain smaller broker-dealers from the reporting requirements of the rules while continuing to provide important information to the Commission on the financial condition of covered broker-dealers and their affiliates.

CFTC Charges Chicago-Based Firm And Six Individuals In Multi-Million Dollar Options Fraud Scheme

Date 29/06/2020

The Commodity Futures Trading Commission today announced the filing of a civil enforcement action in the U.S. District Court for the Northern District of Illinois against Long Leaf Trading Group, Inc., its principals James A. Donelson of Aurora, Illinois, and Timothy M. Evans of Tulum, Mexico, and former Long Leaf associated persons Jeremey S. Ruth of Austin, Texas, and Andrew D. Nelson of Elmhurst, Illinois. The defendants are charged with defrauding customers in connection with options on futures transactions.  Some of the defendants are also charged with registration and disclosure violations. The CFTC also issued two orders filing and simultaneously settling charges against two additional former associated persons of Long Leaf, Scott J. Gecas, of Tinley Park, Illinois, and James E. Leeney, of Chicago, Illinois for their participation in the firm’s fraud scheme.

Statement On The Department Of Labor’s Investment Advice Proposal, SEC Chairman Jay Clayton, June 29, 2020

Date 29/06/2020

I commend the Department of Labor for their efforts to clarify and align the standards of conduct that investment professionals must follow in providing advice to Main Street investors. The proposed exemption announced today reflects in part the Commission’s constructive and ongoing engagement with the Department. I look forward to continuing our work with the Department so that collectively we can enhance investor choice and increase investor protections.