News Centre

CFTC Charges Former Deutsche Bank Trader With Fraudulently Mismarking Swaps - Division Of Enforcement Also Issues Declination Letter To Deutsche Bank In Recognition Of Its Self-Reporting, Full Cooperation And Remediation

Date 08/11/2018

The Commodity Futures Trading Commission (CFTC) announced today that it filed and settled charges against Jacob Bourne, a former managing director of Deutsche Bank Securities Inc., for fraudulently mismarking swap valuations to conceal significant trading losses.   The CFTC Order requires Bourne to pay a $350,000 civil penalty and permanently bans Bourne from trading on exchange and seeking registration with the CFTC, among other prohibitions. 

Keynote Address: ALI CLE 2018 Conference On Life Insurance Company Products, Dalia Blass, Director, SEC Division Of Investment Management, Washington D.C., Nov. 8, 2018

Date 08/11/2018

Introduction

Good morning. Thank you Richard [Choi] for that kind introduction.

This conference was the first time I spoke to a public audience as Director of the Division. It is a pleasure to return a year later and continue our dialogue. Over the last year, I have had the opportunity to engage on many different policy areas. What I see, from one area to the next, is the vibrancy of the American financial markets. It is a symphony of participants – from investors of all ages, financial situations and preferences to financial services providers with a variety of investment products and services that can meet unique investor needs.

Why A SIFMU Must Always Manage Liquidity Risk - By John Fennell, OCC Executive Vice President And Chief Risk Officer, November 7, 2018

Date 08/11/2018

Before the 2008 financial crisis, the emphasis of risk management leaned more toward credit risk, with liquidity being a secondary concern. However, during the crisis it became clear that liquidity, and the velocity with which it can evaporate, could render an entity unable to meet its contractual obligations. The events surrounding the crisis, in other words, pointed to liquidity risk as being an accelerant toward the ultimate default of a market participant.

National Survey: Investors Support Proposed IIROC Enforcement Alternatives - Canadians Favour Flexible, Proportionate Approach To Discipline

Date 08/11/2018

A majority of Canadian investors surveyed for the Investment Industry Regulatory Organization of Canada (IIROC) support the regulator's proposals to provide alternative approaches to enforcement that would encourage early settlement of disciplinary cases and divert minor rule violations away from lengthy hearings.

EEX New Participant: E.ON Energie Deutschland GmbH

Date 08/11/2018

E.ON Energie Deutschland GmbH has been admitted to exchange trading for Phelix Futures and Options, French Financial Power Futures and Options, Belgian Financial Power Futures, Dutch Financial Power Futures, Italian Financial Power Futures and Options, Nordic Financial Power Futures and Options, Spanish Financial Power Futures and Options, Swiss Financial Power Futures, Greek Financial Power Futures, PXE Polish Financial Power Futures, PXE Czech Financial Power Futures, PXE Hungarian Financial Power Futures, PXE Slovakian Financial Power Futures and PXE Romanian Financial Power Futures.

Federal Reserve Issues FOMC Statement

Date 08/11/2018

Information received since the Federal Open Market Committee met in September indicates that the labor market has continued to strengthen and that economic activity has been rising at a strong rate. Job gains have been strong, on average, in recent months, and the unemployment rate has declined. Household spending has continued to grow strongly, while growth of business fixed investment has moderated from its rapid pace earlier in the year. On a 12-month basis, both overall inflation and inflation for items other than food and energy remain near 2 percent. Indicators of longer-term inflation expectations are little changed, on balance.

European Commission: Directive On Markets In Financial Instruments (MiFID II): Commission Suspends Referral Of Spain To The Court

Date 08/11/2018

The European Commission has decided to put on hold the referral of Spain to the Court of Justice of the EU for failing to implement the EU rules on markets in financial instruments (MiFID II), in light of the recent developments in the case.

ESAs Consult On Guidelines On Cooperation And Information Exchange For AML/CFT Supervision Purposes

Date 08/11/2018

The Joint Committee of the three European Supervisory Authorities (EBA, EIOPA and ESMA - ESAs) launched today a public consultation on draft Guidelines on the cooperation and information exchange between competent authorities supervising credit and financial institutions for the purposes of Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) supervision. The draft Guidelines are part of the ESAs’ wider work on fostering a common approach to AML/CFT within the EU.

SEC: Stock Research Firm And Co-Founders Charged With Deceiving Investors In Supposedly Unbiased Reports

Date 08/11/2018

The Securities and Exchange Commission today charged a stock research firm and its co-founders with defrauding investors by issuing reports purportedly based on “unbiased” and “not paid for” research when in reality they received thousands of dollars from issuers as a condition to providing each report.

EBA Updates Recommendation On The Equivalence Of Third Country Confidentiality Regimes

Date 08/11/2018

The EBA's equivalence assessment, which is based on the relevant provisions of the Capital Requirements Directive (CRD IV), has considered the following third country authorities as equivalent: 

• The ADGM Financial Services Regulation Authority – the Abu Dhabi Global Market;
• The Financial Supervisory Service – the Republic of South Korea;
• The National Bank of Moldova – the Republic of Moldova;
• The Securities and Futures Commission – Hong Kong.