News Centre

Office Of The Comptroller Of The Currency Recognizes National Financial Capability Month At Capitol Hill Event

Date 05/04/2016

The Office of the Comptroller of the Currency (OCC) recognized National Financial Capability Month by participating in the annual Financial Literacy Day on Capitol Hill event today.

OCC Appoints Two New Members To Board Of Directors - Three Current Directors Re-elected

Date 05/04/2016

In its role as the foundation for secure markets, OCC, the world’s largest equity derivatives clearing organization, today announced that Susan E. Lester, a long-time banking executive, has joined the board of directors as a Public Director, replacing Matthew B. Gelber of Bitterroot Asset Management, LLC, and William T. Yates of TD Ameritrade has joined the board as a Member Director, replacing Judith M. Kula of Wolverine Execution Services, LLC. Lester and Yates were elected to three-year terms.

U.S. Department of Justice: Two Former Senior Executives Of Global Financial Services Company Charged In Scheme To Defraud Clients Through Secret Trading Commissions On Billions Of Dollars In Securities Trades

Date 05/04/2016

Two former high-ranking executives of a Boston-based financial services company that is one of the world’s largest asset managers and custody banks were charged in an indictment that was unsealed today with a scheme to defraud at least six of the bank’s clients through secret commissions applied to billions of dollars of securities trades. 

ISDA Announces Revised SIMM Licensing Program

Date 05/04/2016

The International Swaps and Derivatives Association, Inc. (ISDA) today announced an update to the licensing program for ISDA’s proprietary and patent-pending Standard Initial Margin Model (SIMM) for non-cleared derivatives, offered commercially under the name ISDA SIMM™.

Remarks From The SIFMA Anti-Money Laundering And Financial Crimes Conference, J. Bradley Bennett, FINRA Executive Vice President, Enforcement

Date 05/04/2016

Good morning.

Money laundering is not a new issue for the securities industry. In fact, it has been listed in every FINRA annual regulatory priorities letter issued over the past 11 years. Many of the issues we've focused on over the years remain areas of focus in 2016. For example, we've addressed risk on many occasions. In 2009, we reminded firms to ensure that their AML policies and procedures are appropriately tailored to the firm's business model, risk profile and volume of transactions, particularly with regard to monitoring, detecting and reporting suspicious activity. And in 2014, we reminded firms with high-risk customer bases to tailor their programs around the specific risks of those customers, including the types of customers, where their customers are located and the types of services they offer to those customers.

CFTC Orders Staten Island-Resident Michael Pucciarelli And His Company, Badge Trading LLC, To Pay A $280,000 Penalty For Engaging In Unlawful Noncompetitive Exchange For Physical Transactions

Date 05/04/2016

The U.S. Commodity Futures Trading Commission (CFTC) today issued an Order filing and simultaneously settling charges against RespondentsMichael Pucciarelli of Staten Island, New York, and Badge Trading LLC, for noncompetitively entering into and reporting numerous non-bona fide exchange for physicals transactions (EFPs) to ICE Futures U.S., Inc. and ICE Clear U.S., Inc. (collectively, ICE). Pucciarelli personally owns Badge Trading.

Chris Cummings To Join Investment Association As Chief Executive

Date 05/04/2016

The Investment Association (IA) today announces the appointment of Chris Cummings as Chief Executive.

Chris is joining the UK investment industry's trade association, whose members manage a combined £5.5trn in assets, from TheCityUK where he is the founding Chief Executive.

FESE Response To The ESMA Discussion Paper On Benchmarks Regulation

Date 05/04/2016

FESE supports efficient, fair, orderly and transparent financial markets that meet the needs of well protected and informed investors and provide a source for companies to raise capital and for investors to hedge their portfolios.

EEX To Extend Its Offering In Freight And Iron Ore And Introduce Strip Clearing For Coal Futures On 28 April 2016

Date 05/04/2016

From 28 April 2016, EEX will extend its Freight and Iron Ore offering with further product enhancements in addition to switching to strip clearing for all Coal Futures contracts.

Vienna Stock Exchange: ATX Watchlist For March 2016

Date 05/04/2016

The watchlist is used as a basis for the admission and/or deletion of ATX stocks at the semiannual (March and September) reviews of ATX basket.