News Centre

Finishing The Work Of Regulating Security-Based Derivatives, SEC Commissioner Luis A. Aguilar, Sept. 15, 2015

Date 15/09/2015

About seven years ago, our country suffered a financial crisis that resulted in devastating economic damage. A close look at what happened made clear that one of the major contributing factors to the crisis was the role of the unregulated derivatives market. In response to the regulatory deficiencies exposed during the financial crisis, Congress passed, among other things, Title VII of the Dodd-Frank Act, which requires the SEC and the CFTC to establish a framework for regulating the over-the-counter swaps market. In particular, the Commission became responsible, per the Dodd-Frank Act, for coming up with rules to regulate the security-based swap (“SBS”) market, which comprises approximately $14 trillion in SBS market value.

Statement Of CFTC Commissioner J. Christopher Giancarlo On The Proposal To Amend The Definition Of “Material Terms” For Purposes Of Swap Portfolio Reconciliation

Date 15/09/2015

In its rush to implement the Dodd-Frank Act over the past few years, the Commission issued multiple rules that proved to be confusing, impracticable or unworkable, which in turn necessitated the unprecedented issuance of no-action relief, either due to unrealistic compliance deadlines, problematic elements of the rules or both. I trust that today’s proposal from the Commission signals that the epoch of heedless rule production is drawing to a close.

FINRA Releases Guidance On Liquidity Risk Management Practices

Date 15/09/2015

The Financial Industry Regulatory Authority (FINRA) announced that it has released Guidance on Liquidity Risk Management Practices, the results of a year-long review of firms’ contingency plans and processes related to managing liquidity needs in a stressed environment. Beginning in March 2014 and continuing into the first quarter of 2015, FINRA conducted a review of 43 firms’ plans and readiness for addressing liquidity during financial stress. This review amplifies the guidance provided in Regulatory Notice 10-57, Funding and Liquidity Risk Management Practices, by measuring how well firms are prepared for liquidity stress events.

Statement Of CFTC Chairman Timothy Massad On The Proposal To Amend The Definition Of “Material Terms” For Purposes Of Swap Portfolio Reconciliation

Date 15/09/2015

I support issuing this proposal to amend the definition of “material terms” for purposes of portfolio reconciliation performed by swap dealers and major swap participants.

Russian National Admits Role In Largest Known Data Breach Conspiracy Ever Prosecuted - Hackers Targeted Major Payment Processors, Retailers And Financial Institutions Around The World

Date 15/09/2015

A Russian national today admitted his role in a worldwide hacking and data breach scheme that targeted major corporate networks, compromised more than 160 million credit card numbers and resulted in hundreds of millions of dollars in losses –  the largest such scheme ever prosecuted in the United States.

CFTC Announces Proposal To Amend The Definition Of “Material Terms” For Purposes Of Swap Portfolio Reconciliation

Date 15/09/2015

The U.S. Commodity Futures Trading Commission (Commission) announced today that it will publish in the Federal Register a proposed amendment to the regulatory definition of “material terms” for purposes of swap portfolio reconciliation under Commission regulation 23.502.

Moscow Exchange: Updated Coefficients For Stock Indices

Date 15/09/2015

September 16, the following coefficients for indices have been updated:

FINRA Sanctions 10 Former Global Arena Representatives As A Result Of FINRA Crackdown On Broker Migration

Date 15/09/2015

The Financial Industry Regulatory Authority (FINRA) announced today that as a result of a 2014 onsite exam, it found securities violations including various misleading sales pitches, customer account churning and other business misconduct at Global Arena Capital Corp. It has barred seven former registered representatives from the securities industry, suspended an eighth person whose bar will become effective in October, and barred two former branch managers from serving in a principal capacity. The actions are a result of FINRA's continued focus on tracking groups of brokers that move from one risky firm to another. Seven of the 10 individuals had moved from HFP Capital Markets LLC—a problem firm that FINRA later expelled—to Global Arena Capital Corp. Global Arena opened a branch office in October 2013 to register a number of brokers who had been discharged by HFP. Like HFP, the branch office's business model involved cold-calling customers, including seniors, to make solicited recommendations of securities.

SIX Swiss Exchange ETFs: 15 Years Of Growth

Date 15/09/2015

SIX Swiss Exchange has been one of the first European exchanges to launch a segment for ETFs and is looking back on an unprecedented success story.

Euronext: Extraordinary General Meeting Convening Notice 20151027

Date 15/09/2015

Euronext today announced that an Extraordinary General Meeting (EGM) will take place on Tuesday 27 October 2015 at 10am CET at Beursplein 5, 1012 JW Amsterdam, The Netherlands. The Agenda for the meeting is as follows:

1. Opening
2. Composition of the Managing Board
   a. Appointment of Stéphane Boujnah as a member of the Managing Board (voting item 1)
3. Close

The meeting will be conducted in English.