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  • IOSCO Takes Important Step Towards Global Sustainability Disclosure

    Date 25/02/2021

    An important step has now been taken towards a global standard for sustainability reporting. The Board of Directors of the International Organization of Securities Commissions (IOSCO) voted during its meeting yesterday for IOSCO to actively work to achieve a unified and comparable global standard for sustainability disclosure. IOSCO’s work in this area is being carried out within the work group led by Finansinspektionen’s Director General Erik Thedéen.

  • Tether Tokens (USDt) Market Cap Soars Above US$35 Billion

    Date 25/02/2021

    Tether Operations Limited (Tether), the blockchain-enabled platform that powers the largest stablecoin by market capitalization, has today announced that Tether tokens (USDt) have crossed the US$35 billion mark, amid growing institutional and corporate demand.

  • SIFMA Cautions Liability Provisions Under CAT NMS Plan Will Harm Investors

    Date 25/02/2021

    A new report analyzing the economic impact of the proposed NMS Plan governing the Consolidated Audit Trail (CAT) concludes the proposed plan amendment, if adopted, would reduce investor welfare in two ways:

    First, if the CAT does not bear the liability of data breaches, it is incentivized to invest less in data security to protect investors’ personally identifiable information and trading data in the CAT, which would place investors at greater risk of having their data compromised.

    Second, requiring industry members to absorb litigation-related expenses for an event which they have no direct control over will lead to the inefficient purchase of insurance with additional costs likely passed downstream to investors.

  • SEC Issues Whistleblower Awards Totaling Over $1.7 Million

    Date 25/02/2021

    The Securities and Exchange Commission today announced awards totaling more than $1.7 million to two whistleblowers in separate proceedings.  Both whistleblowers provided Forms TCR to the Commission within 30 days of their first learning of the Form TCR filing requirement as set forth in new Securities and Exchange Act Rule 21F-9(e).

  • Themistocles And The Mathematicians: The Role Of Stress Testing, Federal Reserve Vice Chair For Supervision Randal K. Quarles, At The Federal Reserve Bank Of Atlanta, Atlanta, Georgia (Via Webcast)

    Date 25/02/2021

    One of the principal themes of human history—and certainly of economic history—is that of a sudden technological breakthrough originally deployed for one purpose being gradually refined over time until new and better versions of it are eventually deployed for a much broader range of purposes. The breakthrough supplies the drama, but it's the steady incremental improvement over time that makes the greatest difference. The Phoenicians dramatically improved the speed and cargo load of their commercial voyages with the invention of the trireme—massive boats, powered with three tiers of oarsmen, rather than the standard one or two—dispatched from Tyre and Sidon in the service of exploration, commerce, and colonization. But the Greeks improved on the design, bit by bit, and over many years, until they became not commercial vessels ferrying cargo from Carthage to Cádiz, but warships that revolutionized naval combat and enabled Athens—led by the obstinate upstart Themistocles who built a fleet of 200 triremes, the largest navy Greece had ever seen—to challenge and defeat the Persian King. Or, somewhat closer to home, consider the development of radar in World War II. That initial innovation was instrumental in winning the war but continued refinement has led to technologies that can promptly warn us of tornados or even steer our cars.