News Centre

CFTC Orders Registrant To Pay $1.5 Million For Violations Related To Cyber Breach

Date 13/09/2019

The U.S. Commodity Futures Trading Commission today issued an order filing and simultaneously settling charges against Phillip Capital Inc. (PCI), a registered futures commission merchant, for allowing cyber criminals to breach PCI email systems, access customer information, and successfully withdraw $1 million in PCI customer funds.  The order also finds that PCI failed to disclose the cyber breach to its customers in a timely manner.   Finally, the order finds that PCI failed to supervise its employees with respect to cybersecurity policy and procedures, a written information systems security program, and customer disbursements.

NZX Dividend Reinvestment Plan: Strike Price

Date 12/09/2019

This attached notice is given under NZX Listing Rule 3.13.1 and relates to the issue of ordinary shares in NZX Limited (NZX) under the NZX Dividend Reinvestment Plan.

CFTC Orders Chief Compliance Officer Of Trading Firm To Pay 150,000 For Fraud And False Statements To A Self-Regulatory Organization

Date 12/09/2019

The U.S Commodity Futures Trading Commission today issued an order filing and settling charges against CFTC registrant Rafael Marconato of Limeira, São Paulo, Brazil, requiring him to pay $125,000 in restitution and a $25,000 civil penalty for engaging in acts that operated as a fraud on pool participants and making false statements to the National Futures Association (NFA).

Superintendent Of New York State Department Of Financial Services Linda A. Lacewell Announces German Advisory Commission Restitution Decision - Department Of Financial Services’ Work Advocating On Behalf Of Victims Of Nazi Persecution Leads To Significant Restitution Recommendation From German Museum To Heirs Of Dr. Max Stern

Date 12/09/2019

Linda A. Lacewell, Superintendent of Financial Services, today announced that Germany’s Advisory Commission on the Return of Cultural Property Seized as a Result of Nazi Persecution, Especially Jewish Property recommended that Uhlans on the March by 19th century German Romantic Age painter Hans von Marées be returned to the Max and Iris Stern Foundation by Bavaria’s Neue Pinakothek art museum.

Lutheran Church Settles With AAlberta Securities Commission For Misleading Investors

Date 12/09/2019

The Alberta Securities Commission (ASC) has concluded a Settlement Agreement and Undertaking with the Lutheran Church-Canada, the Alberta-British Columbia District (the District) and others in connection with a long-running investment program that collapsed into insolvency in early 2015. A Company Creditors Arrangement Act (CCAA) Monitor remains in place to distribute proceeds of the insolvency to investors pursuant to directions of the Court of Queen’s Bench of Alberta.

Canadian Securities Regulators Propose Eight Initiatives To Reduce Regulatory Burden For Investment Funds

Date 12/09/2019

The Canadian Securities Administrators (CSA) today published for comment proposed rule amendments aimed at implementing eight initiatives that seek to eliminate duplicative requirements, streamline regulatory processes, codify frequently-granted exemptions from certain rules for investment funds, and eliminate the need for certain regulatory approvals. These proposed changes are part of the CSA’s ongoing work to reduce regulatory burden for investment funds.

DTCC's Comment On Re-Appointment Of Michelle Bowman To The Federal Reserve Board

Date 12/09/2019

Mark Wetjen, Managing Director and Head of Global Public Policy for The Depository Trust & Clearing Corporation (DTCC), commented:

"We congratulate Michelle Bowman on her re-appointment to the Federal Reserve Board. We look forward to continuing to work with Governor Bowman and all of the members of the Board as we pursue our mission of protecting the safety and soundness of the financial services industry."

ETFGI Reports The Global ETFs And ETPs Industry Gathered US$3.43 Billion In Net Inflows In August 2019

Date 12/09/2019

ETFGI, a leading independent research and consultancy firm covering trends in the global ETF/ETP ecosystem, reported today that ETFs and ETPs listed Globally gathered net inflows of US$3.43 billion in August, bringing year-to-date net inflows to US$273.04 billion. Assets invested in the Global ETF/ETP industry have decreased by 1.6%, from US$5.74 trillion at the end of July, to US$5.65 trillion at the end of August, according to ETFGI's August 2019 Global ETF and ETP industry landscape insights report, an annual paid-for research subscription service. (All dollar values in USD unless otherwise noted.)

EU Financial Regulators Highlight Risks Of A No-Deal Brexit And Search For Yield

Date 12/09/2019

The European Union's (EU) banking, insurance, pensions and securities sectors continue to face a range of risks, the latest report on "Risks and Vulnerabilities in the EU Financial System" published today by the Joint Committee of the European Supervisory Authorities (ESAs) shows.

Eurex Exchange: Fixed Income Highlights - September 2019 Edition

Date 12/09/2019