News Centre

New York State Department Of Financial Services To Co-Host FinTech Forum With Conference Of State Banking Supervisors - Event Will Address Developments And Innovation In FinTech Market, Including State-Based Regulation And Consumer Protection

Date 10/04/2018

Financial Services Superintendent Maria T. Vullo today announced that the New York State Department of Financial Services (DFS) will co-host a nationwide financial technology forum for state banking regulators and financial services executives with the Conference of State Banking Supervisors (CSBS) on Tuesday, April 10, 2018 in New York City.  The conference will address fintech developments and business models, opportunities and risk, as well as state-based regulatory approaches to innovation.

Brown Rudnick Alert: All U.S. States Now Require Breach Notification And More Mandate Cybersecurity Measures

Date 10/04/2018

Driven by daily headlines about massive breaches of personal data, U.S. states have been increasing their adoption of cybersecurity laws since 2003. These laws require companies to notify regulators, users, or sometimes both, when personal data has been compromised. This month, Alabama became the last U.S. state to adopt such a law (the Alabama Data Breach Notification Act), coming on the heels of South Dakota, which passed its own legislation in March. Additionally, the European Union’s General Data Protection Regulation (“GDPR”) will go into effect on May 25 2018, creating additional obligations for many companies worldwide, including obligations to notify personal data breaches in certain circumstances both to data regulators and the individuals concerned. These changes in the field of data protection create new compliance requirements and litigation risks for companies. While data breaches seem to happen routinely, the implications of a hacking incident compromising personal data have grown more complex. 

Remarks At The Equity Market Structure Symposium Sponsored By The University Of Chicago And The STA Foundation Brett Redfearn, SEC Director, Division Of Trading And Markets, Chicago, April 10, 2018

Date 10/04/2018

I would also like thank the University of Chicago, Jim Toes and the STA Foundation for the invitation to speak at this timely symposium on equity market structure.   

I want to follow up on the remarks of Chairman Clayton on some of the key equity market structure initiatives that are underway and contemplated for the future.  In particular, I would like to briefly elaborate on both current and planned pilots as well as the roundtables on equity market structure that the Division of Trading and Markets anticipates holding in 2018.  I will also discuss our potential rulemaking geared to help increase transparency for broker order routing and for alternative trading systems, or dark pools.  Before I start, I must provide our standard disclaimer that the views I express today are my own and do not necessarily reflect the views of the Commission, Chairman Clayton, other Commissioners or my colleagues on the SEC staff.

European Commission: Remarks By Michel Barnier At Green 10: "Is Brexit A Threat To The Future Of The Eu's Environment?" - European Parliament

Date 10/04/2018

Thank you Peter Liese for having organised this event, with Green 10 organisation represented by Cécile Toubeau,

Thank you also Jo Leinen.

I see also many other members of the European Parliament, where I come almost every week to discuss Brexit, with the EP Brexit Steering Group, the various political groups and committees.

Thank you for inviting me to speak about this essential topic of the environment.

Payments After PSD2: Evolution Or Revolution - Speech Delivered By Karina McTeague, Director Of Retail Banking Supervision At The FCA, At The Pay360 Conference

Date 10/04/2018

Highlights

• From a consumer protection and market integrity perspective, we have a real interest in the Open Banking Implementation Entity’s successful delivery of the CMA’s Open Banking API requirements and wider adoption of APIs by the industry.
• Customer communications should be balanced, and not seek to dissuade customers from using third party AIS or PIS providers through their communications or terms and conditions.
• We welcome the development of industry arrangements designed to facilitate the successful delivery of PSD2 objectives (including voluntary guidelines and dispute management system).
• We will be looking to see that firms’ culture prioritises treating customers fairly, and doesn’t take inappropriate advantage of ill-informed, naïve or vulnerable consumers.

Oslo Børs VPS - Annual Report 2017

Date 10/04/2018

The Annual Report 2017 for Oslo Børs VPS Holding ASA is now available from the Oslo Børs VPS web site.

SIX Swiss Exchange - March 2018: High Level Of Activity

Date 10/04/2018

Remarks Of CFTC Chairman J. Christopher Giancarlo For The Jacobson Global Lecture At Concordia College, Bronxville, New York - “Financial Market Regulation: A Moral Framework”[1]

Date 10/04/2018

Thank you and good evening.  It is an honor to come here, to Concordia.  This is a great school with sound scholarship, a spiritual tradition, and passionate, outstanding students.  Your emphasis on individual responsibility, the liberal arts, science and public service makes Concordia an exciting, inspirational seat of learning.

The EBA Observes A Decrease In High Earners In 2016 And Differences In Remuneration Practices Across The EU

Date 10/04/2018

The European Banking Authority (EBA) published today its report on benchmarking of remuneration practices in EU banks for the financial years 2015 and 2016 and high earners data for 2016. The data shows that in 2016, the number of high earners in EU banks receiving a remuneration of more than EUR 1 million decreased by 10.6% (from 5 142 in 2015 to 4 597 in 2016). In addition, for high earners, the average ratio between the variable and fixed remuneration continued to decrease from 127% in 2014 to 118% in 2015 and 104% in 2016. The same holds true for the ratio between the variable and fixed remuneration of all other identified staff, which decreased from 65.5 % in 2014 to 62.2 % in 2015 and 57.1 % in 2016. The report is part of the EBA's monitoring activities and focuses on the identification of staff, the application of deferral arrangements, the pay out in instruments and the use of specific remuneration elements, e.g. guaranteed variable remuneration and severance payments. 

Remarks At The Equity Market Structure Symposium Sponsored By The University Of Chicago And The STA Foundation, SEC Chairman Jay Clayton, Chicago, April 10, 2018

Date 10/04/2018

Thank you for such a kind introduction.  And thank you as well to the University of Chicago and the STA Foundation for the invitation to speak today about equity market structure.