News Centre

ASIC Reissues Regulatory Guide 121 On Doing Financial Services Business In Australia

Date 20/09/2024

Key points

• ASIC has reissued Regulatory Guide 121 Doing financial services business in Australia (RG 121) to reflect changes to the law and legislative relief granted by ASIC.
• Reissued RG 121 includes amendments to descriptions of Australian financial services (AFS) licensing exemptions and relief and updates ASIC’s guidance on the Courts’ interpretation of ‘carrying on a business in Australia’.

Nothing To See - Nothing To Say: Statement On Recent Whistleblower Awards, SEC Commissioner Hester M. Peirce, SEC Commissioner Mark T. Uyeda, Sept. 19, 2024

Date 19/09/2024

The Commission recently issued two whistleblower award determinations awarding an aggregate $122,000,000 among four claimants. We did not support these determinations, but we are unable to explain our reasons because the public final orders determining the awards redact certain information necessary to the explanation. The text surrounding the redactions describes how the Commission calculated the total amount collected for purposes of determining the award amount. We did not believe that the redactions were necessary or appropriate under the relevant statutory authority because the redacted information could not reasonably be expected to reveal the whistleblowers’ identity. As an inadvertent result of these redactions, the legal reasoning in final orders of the Commission determining that $122,000,000 should be paid from the Investor Protection Fund at the Treasury of the United States is immunized from effective public scrutiny. These awards illustrate why the Commission’s redaction decisions are consequential not only for whistleblowers, but also for oversight of the Commission’s operation of the whistleblower program.

Cancelled — September 20 Commission Open Meeting

Date 19/09/2024

The Commodity Futures Trading Commission Open Meeting scheduled for Friday, September 20, 2024, has been cancelled. The matter under consideration has been completed through the Commission’s seriatim process.  

SEC: Small Business Forum’s Report To Congress Highlights Recommendations To Improve Capital Raising

Date 19/09/2024

The Securities and Exchange Commission today released a report to Congress summarizing policy recommendations made during the SEC’s 43rd Annual Small Business Forum. The report provides a summary of the forum proceedings, including the recommendations developed by participants for changes to the capital raising framework and the Commission’s responses to those recommendations.

CFTC Commissioner Pham To Speak At GBBC’s Blockchain Central UNGA

Date 19/09/2024

Office Hours With Gary Gensler: Systemic Risk In Artificial Intelligence, SEC Chair Gary Gensler, Washington D.C., Sept. 19, 2024

Date 19/09/2024

What might Scarlett Johansson and romcoms teach us about artificial intelligence and systemic risk in our capital markets?

FinCEN Publishes Beneficial Ownership Reporting Outreach And Education Toolkit

Date 19/09/2024

The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) has issued another resource to familiarize small business owners with beneficial ownership reporting requirements. These reporting requirements are mandated by the Corporate Transparency Act, a bipartisan law enacted to curb illicit finance by supporting law enforcement efforts. This law requires many small businesses to report basic information to the Federal government about the real people who ultimately own or control them.

Hello And Farewell, But Not Goodbye: Remarks At The Meeting Of The SEC Investor Advisory Committee, SEC Commissioner Hester M. Peirce, Washington D.C., Sept. 19, 2024

Date 19/09/2024

Thank you, Brian [Schorr]. And good morning and welcome to all of you, especially our six newest IAC members. Our new class of members brings a wonderfully eclectic mix of skills and experiences. Thank you for putting them at the disposal of the Investor Advisory Committee. 

US Office Of The Comptroller Of The Currency Announces Enforcement Actions For September 2024

Date 19/09/2024

The Office of the Comptroller of the Currency (OCC) today released enforcement actions taken against national banks and federal savings associations (banks), and individuals currently and formerly affiliated with banks the OCC supervises.

Canadian Investment Regulatory Organization Releases 2023 – 2024 Annual Report And Inaugural Investor Advisory Panel Annual Report - Highlight Significant Achievements And Strategic Objectives In CIRO’s Second Year

Date 19/09/2024

The Canadian Investment Regulatory Organization (CIRO) has released its Annual Report for 2023-2024, alongside the inaugural Investor Advisory Panel (IAP) Annual Report, marking a year of substantial progress and strategic initiatives.