News Centre

ESMA Reappoints The Chair Of Its Supervisory Convergence Standing Committee

Date 26/03/2019

The Board of Supervisors of the European Securities and Markets Authority (ESMA) has reappointed the current chair João Sousa Gião, who is a Member of the Board of Directors of the Comissão do mercado de valores mobiliários (CMVM) of Portugal, of its Supervisory Convergence Standing Committee (SCSC).

CFTC Issues Amended Margin Comparability Determination For Japan - Japan Is Deemed Comparable For Two Additional Aspects Of Margin For Uncleared Swaps

Date 26/03/2019

The Commodity Futures Trading Commission (CFTC) today unanimously approved an amended comparability determination that would extend the substituted compliance permitted for Japan’s margin requirements for uncleared swaps as compared to the uncleared swap margin provisions of Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) and CFTC regulations.  

Borsa Istanbul: Periodic Review For The BIST-KYD Corporate Eurobond Indices For The Period April-June 2019 Has Been Finalized

Date 26/03/2019

In accordance with the article 3.3. of BIST-KYD Indices Ground Rules, periodic review for the BIST-KYD Corporate Eurobond Indices for the period April-June 2019 (April 1, 2019 – June 28, 2019) has been finalized. According to the results of the periodic review, the Eurobonds whose issue information are given below, will be included in BIST-KYD Corporate Eurobond USD and BIST-KYD Corporate Eurobond USD (TRY) Indices, effective from April 1, 2019.

Moscow Exchange: Risk Parameters For New Bonds

Date 26/03/2019

New bonds will be accepted to margin trading starting from 26.03.2019. From this date on, the following risk parameters will be applied:

Former Banker Convicted Of Fraud In UK Serious Fraud Office’s EURIBOR Manipulation Case

Date 26/03/2019

Former Barclays banker Carlo Palombo has been convicted of manipulating the Euro Interbank Offered Rate (EURIBOR) following an investigation and prosecution brought by the Serious Fraud Office.

SEC Awards $50 Million To Two Whistleblowers

Date 26/03/2019

The Securities and Exchange Commission today announced awards totaling $50 million to two whistleblowers whose high-quality information assisted the agency in bringing a successful enforcement action.  One whistleblower received an award of $37 million and the other received an award of $13 million.  The $37 million award is the Commission’s third-highest award to date after the $50 million award made in March 2018 to joint whistleblowers and more than $39 million award announced in September 2018.  

Oslo Børs VPS Holding ASA: Mandatory Notification Of Trade - Thomas Skjønhaug

Date 26/03/2019

Thomas Skjønhaug (Board employee representative Oslo Børs VPS) has 26 March 2019 sold 868 shares in Oslo Børs VPS Holding ASA at a price of NOK 158 per share. After this transaction, he holds 130 shares in the company.

CFTC’s Agricultural Advisory Committee To Meet April 11 In Overland Park, KS

Date 26/03/2019

The Commodity Futures Trading Commission’s (CFTC) Agricultural Advisory Committee (AAC) announced today that it will hold a public meeting on April 11, 2019 in Overland Park, Kansas. This meeting precedes AgCon2019, the second agriculture commodity futures conference hosted by CFTC and the Center for Risk Management Education and Research at Kansas State University (see CFTC Press Release 7885-19).

EEX Welcomes Adoption Of The Clean Energy Package: Strong Support For Markets And Renewables Integration

Date 26/03/2019

The European Energy Exchange (EEX) welcomes the adoption of the Electricity Directive and Regulation by the European Parliament. This is a milestone which finalises the ‘Clean Energy Package’ (CEP). The CEP sets the cornerstone for the further development of a market-based energy system with an increasing share of renewables in Europe in the coming decade. Following this route provides a basis for Europe to deliver on its climate and energy policy targets at the lowest cost, and making it possible to find the best solutions to the broader mega trends of decentralisation, decarbonisation and digitalisation.

Dissenting Statement Of CFTC Commissioner Rostin Behnam On De Minimis Exception To The Swap Dealer Definition - Swaps Entered Into By Insured Depository Institutions In Connection With Loans To Customers

Date 26/03/2019

Introduction

I respectfully dissent from the Commodity Futures Trading Commission’s (the “Commission” or “CFTC”) decision today regarding the application of the swap dealer definition to insured depository institutions (“IDIs”).  The Commission’s eagerness to bypass clear Congressional intent in order to address longstanding concerns with the original implementation of the statutory exclusion from the swap dealer definition for IDIs, only to the extent they offer to enter swaps transactions in connection with originating customer loans (the “IDI Swap Dealing Exclusion”), creates risks and uncertainties that may harm the very financial institutions that the new rule purports to help.  By exercising its De Minimis Exception Authority to create as a “factor” whether a given swap has specified characteristics of swaps entered into by IDIs in connection with customer loans, the Commission is creating a new regulatory exemption that intentionally and entirely subsumes the IDI Swap Dealing Exclusion in defiance of conferred regulatory authority.  Moreover, not only does this novel exercise in agency discretion undermine the swap dealer definition, but it exemplifies the current Commission’s rush to implement sweeping changes to the regulation of swap dealers without regard for the long term consequences of its capricious interpretation of the law and arbitrary analysis of risk.