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  • SIFMA: Associations Request SEC Modernize Electronic Recordkeeping Requirements

    Date 14/11/2017

    Several trade associations have asked the Securities and Exchange Commission (SEC) to update its broker-dealer electronic retention Rule 17a-4 by eliminating an outdated recordkeeping requirement known as WORM (write once, read many), examining authority notification, and third-party downloader requirements.  In their place, the Associations proposed a rigorous retention standard that is technology-neutral and consistent with current business record management principles.  The amendments would also harmonize the SEC rules with the correlating principles-based CFTC rules adopted in May 2017 which eliminated the WORM standard and third-party downloader requirements from CFTC.

  • CFTC Orders INTL FCStone Financial Inc. And FCStone Merchant Services LLC To Pay Penalty For Unlawful Exchange For Related Position Transactions

    Date 14/11/2017

    • INTL FCStone Financial had inadequate supervisory systems and controls to detect and deter the unlawful conduct

  • EBA Releases Its Annual Assessment Of The Consistency Of Internal Model Outcomes

    Date 14/11/2017

    The European Banking Authority (EBA) published today two reports on the consistency of risk weighted assets (RWAs) across all EU institutions authorised to use internal approaches for the calculation of capital requirements. The reports cover credit risk for large corporate, institutions, and sovereign portfolios (collectively referred to as "low default portfolios" - LDP), as well as market risk. The results confirm previous findings, with the majority of risk-weights (RWs) variability explained by fundamentals. These benchmarking exercises, conducted by the EBA on an annual basis are a fundamental supervisory and convergence tool to address unwarranted inconsistencies and restoring trust in internal models.

  • Moscow Exchange Holds Investment Conferences For Chinese Investors

    Date 14/11/2017

    On 13-15 November 2017, Moscow Exchange is hosting a series of investment conferences in China to bring together representatives of the Chinese financial community, including funds, banks and trading venues. The events are taking place in three cities: Shenzhen (13 November), Shanghai (14 November) and Beijing (15 November).

  • EBA Publishes Final Guidance On Connected Clients

    Date 14/11/2017

    The European Banking Authority (EBA) published today its final Guidelines on the treatment of connected clients as defined in the Capital Requirements Regulation (CRR), aiming at supporting institutions in identifying all possible connections among their clients, in particular when control relationships or economic dependency should lead to the grouping of clients because they constitute a single risk. The guidelines apply to all areas of the CRR where the concept of ‘group of connected client' is used, including the EBA technical standards and the EBA guidelines that refer to that concept.