News Centre

Allegations Of Illegal Insider Trading - AMF Executes Search Warrants And Obtains Orders Against 13 Individuals

Date 23/03/2016

The Autorité des marchés financiers (the “AMF”) has executed search warrants and obtained freeze and cease trade orders to stop the activities of a group of 13 individuals who allegedly traded in different securities while in possession of privileged information. In all, they are alleged to have realized a profit of close to $1.5 million between 2011 and 2016.

New Product Summary: CME Bloomberg Dollar Spot Index Futures

Date 23/03/2016

The Contract is based on the Bloomberg Dollar Spot Index^SM (BBDXY). The Contract will incorporate standardized contract specifications and will be cash settled with a pricing basis quoted in index points.

New York State Department Of Financial Services Approves Goldman Sachs Bank Purchase Of GE Capital Bank - Goldman Bank USA Will Acquire Certain Limited Assets And Assume Substantially All Deposit Liabilities From GE Capital Bank

Date 23/03/2016

The New York State Department of Financial Services (DFS) today approved the application of Goldman Sachs Bank USA (GS Bank), a New York State chartered state member bank subsidiary of The Goldman Sachs Group, Inc., to acquire certain limited assets and assume substantially all of the deposit liabilities of GE Capital Bank, based in Holladay, Utah, an industrial bank subsidiary of General Electric Capital Corporation.

OSC Announces Departure Of Tom Atkinson

Date 23/03/2016

The Ontario Securities Commission (OSC) today announced the departure of its Director of Enforcement, Tom Atkinson, who has accepted a position as Executive Director of Enforcement at the Securities and Futures Commission of Hong Kong.

CSA Alerts Canadians: Beware Binary Options Platforms

Date 23/03/2016

The Canadian Securities Administrators (CSA) are increasingly concerned about the growth in the number of websites promoting offshore binary options trading platforms that are targeting Canadians. The CSA wants to make it clear: no business is currently registered or authorized to market or sell binary options in Canada.

Commodity Dealers: Council Of The European Union Agrees To Extend Exemption

Date 23/03/2016

On 23 March 2016, the Permanent Representatives Committee agreed, on behalf of the Council, to extend an exemption for commodity dealers under an EU regulation on bank capital requirements.

ESMA Is Closed For Easter Holidays On 24, 25 And 28 March

Date 23/03/2016

ESMA's office will be closed for Easter Holidays on 24, 25 and 28 March 2016.

The FCA’s Competition Powers - Speech By Deb Jones, Director Of Competition At The FCA, Delivered At The Impact Of Competition Powers On Financial Services Conference, London

Date 23/03/2016

Introduction

Let me start by saying that it is very good to see some familiar faces in the room, including legal colleagues, both in-house and from private practice, economists and representatives of the financial services sector more generally. 

Bermuda Stock Exchange Will Be Closed For Easter Holiday

Date 23/03/2016

The Bermuda Stock Exchange (“BSX”) advises that the Exchange will be closed on Friday, 25 March, 2016, in observance of the Good Friday Public Holiday. The BSX will re-open on Monday, 28 March, 2016.

Federal Reserve Begins 2016 Survey Of Finance Companies

Date 23/03/2016

The Federal Reserve will begin its Survey of Finance Companies in March as part of the continuing effort to paint a comprehensive view of the range of companies in this sector of the U.S. financial system.