News Centre

SIFMA Statement On The Revised Implementation Date for Non-Cleared Derivatives Margin Rules

Date 19/03/2015

SIFMA today released the following statement from Kenneth E. Bentsen, Jr., president and CEO, after the Basel Committee on Banking Supervision (BCBS) and the International Organization of Securities Commissions (IOSCO) announced a revised implementation date for margin requirements for non-centrally cleared derivatives:

"Margin rules for non-centrally cleared derivatives are among the most complicated and important aspects of the regulatory reform agenda, and the industry has been working hard to get to a position to implement those rules without delay once regulators finalize them.  Given the ongoing national rulemaking processes, we welcome the BCBS/IOSCO decision to extend their recommended start date for the phase-in of those rules. "

British Columbia Securities Commission Panel Fines And Permanently Bans Five B.C. Residents For Market Manipulation

Date 18/03/2015

A British Columbia Securities Commission panel has fined five B.C. residents who were found to have perpetrated a market manipulation that led to a misleading appearance of trading activity in, or an artificial price for, shares in a company listed on the TSX Venture Exchange (TSX-V). The panel also permanently banned them from B.C.’s capital markets. 

ISDA Statement On The Revised Implementation Date For Non-Cleared Derivatives Margin Rules

Date 18/03/2015

The International Swaps and Derivatives Association, Inc. (ISDA) today published the following statement regarding the revised implementation date for non-cleared derivatives margin rules:

“ISDA very much welcomes the extension to the start date for non-cleared derivatives margin rules. The new rules will require firms to make significant changes to their infrastructure, technology, processes and documentation. Firms have been working hard to prepare for the rules, but the changes would have been all but impossible to complete by the original December 2015 effective date, particularly as final rules have not yet been published by US, European and Japanese authorities."

CFTC Swaps Report Update

Date 18/03/2015

CFTC's Weekly Swaps Report has been updated, and is now available.

Statement On Jury Verdict In Willie Gault/Heart Tronics Case - Andrew Ceresney, Director, SEC Division Of Enforcement, March 18, 2015

Date 18/03/2015

"We are pleased with the jury’s verdict holding Willie Gault accountable for securities law violations. As proved at trial, as CEO of a public company, Willie Gault filed false certifications with the SEC and knowingly circumvented the company’s internal controls."

Two New Share-Referenced Certificates ("TRAC") Were Listed On the Mexican Stock Exchange ("BMV")

Date 18/03/2015

• DLRTRAC and PSOTRAC are options to mitigate the exchange rate risk
• With these two new instruments, the Share-Referenced Certificates (TRAC´s) family in the BMV add up to 26 investment options

Federal Reserve Issues FOMC Statement

Date 18/03/2015

Information received since the Federal Open Market Committee met in January suggests that economic growth has moderated somewhat. Labor market conditions have improved further, with strong job gains and a lower unemployment rate. A range of labor market indicators suggests that underutilization of labor resources continues to diminish. Household spending is rising moderately; declines in energy prices have boosted household purchasing power. Business fixed investment is advancing, while the recovery in the housing sector remains slow and export growth has weakened. Inflation has declined further below the Committee's longer-run objective, largely reflecting declines in energy prices. Market-based measures of inflation compensation remain low; survey-based measures of longer-term inflation expectations have remained stable.

Comptroller Of The Currency Issues Statement Regarding Bank Investment In The Municipal Securities Market

Date 18/03/2015

Comptroller of the Currency Thomas J. Curry today issued the following statement regarding investments in municipal securities made by national banks and federal savings associations:

The Office of the Comptroller of the Currency recognizes the importance of the $3.6 trillion municipal securities market as a source of infrastructure funding for states, cities, and localities in the United States. The agency considers bank investments in municipal securities a prudent activity when part of a safe and sound investment strategy. Banks historically have invested in municipal securities for a variety of purposes, including yield and community support. Bank ownership of municipal securities represents approximately 10 percent of all outstanding issuances as of mid-2014. Banks continue to be active participants in this market. 

Federal Reserve Board And Federal Open Market Committee Release Economic Projections From The March 17-18 FOMC Meeting

Date 18/03/2015

The attached table and charts released on Wednesday summarize the economic projections and the target federal funds rate projections made by Federal Reserve Board members and Federal Reserve Bank presidents for the March 17-18 meeting of the Federal Open Market Committee.

European Banking Authority Issues Amended Technical Standards On Supervisory Reporting For Institutions

Date 18/03/2015

The European Banking Authority (EBA) published today its final draft Implementing Technical Standards (ITS) amending the Commission's Implementing Regulation (EU) No 680/2014 on supervisory reporting. These final draft ITS include minor changes to templates and instructions which the EBA deemed necessary to publish in order to reflect some of the answers published in its Single Rulebook Q&A, as well as to correct legal references and other clerical errors. The amendments are expected to be applicable for reporting as of June 2015.