News Centre

SEC Issues Annual Staff Reports On Credit Rating Agencies

Date 23/12/2014

The Securities and Exchange Commission today issued its annual staff report on the findings of examinations of credit rating agencies registered as nationally recognized statistical rating organizations (NRSROs) and submitted a separate report on NRSROs to Congress. 

Bahamas International Securities Exchange Appoints New Chairman

Date 23/12/2014

The Bahamas International Securities Exchange is pleased to announce the appointment of Mr. Andrew Strachan as the new Chairman of the Board of Directors for The Bahamas International Securities Exchange (BISX). Mr. Strachan takes over as the Chairman of BISX after having served in the capacity of Deputy Chairman for the last year, and he replaces Mr. Ian D. Fair who has served as BISX’s Chairman for the past 15 years.

MIAX Options - January 1, 2015 Fee Changes - Market Maker Volume Tiers And Priority Customer Rebate Program

Date 23/12/2014

Effective January 1, 2015, pending SEC approval, the MIAX Options Fee Schedule will be amended as follows:

1. The MIAX Market Maker Sliding Scale Transaction Fees will be amended to include the addition of a new initial tier for monthly market maker contracts at 0.03% and below and adjustments to the percentage of market maker contracts required per month for existing Tiers 1-3.
2. The Priority Customer Rebate Program will be amended to reflect adjustments to the percentage thresholds of national customer volume required in Tiers 3 and 4.

CFTC Staff Extends Time-Limited No-Action Relief To Eurex Clearing And Its U.S. Clearing Members

Date 23/12/2014

The U.S. Commodity Futures Trading Commission’s (Commission) Division of Clearing and Risk (Division) today extended the no-action relief granted in CFTC Letter 14-27 to Eurex Clearing AG (Eurex Clearing) and its clearing members that are U.S. persons (each, a U.S. Clearing Member).

SEC Charges California-Based Stock Promoter With Defrauding Investors Seeking Pre-IPO Facebook And Twitter Shares - SEC Announces Separate Case Against Broker In Texas For Alleged Involvement

Date 23/12/2014

The Securities and Exchange Commission today charged a stock promoter based in Santa Barbara, Calif., with fraudulently raising nearly $3.5 million from investors purportedly to purchase Facebook and Twitter shares prior to their initial public offerings (IPOs).

OCC Approves New Capital Plan - Existing Stockholders To Contribute $150 Million In Equity Capital And Provide Replenishment Capital Commitments - Members To Receive 2014 Refund Of Approximately $40 Million And Reduced Fees In 2015

Date 23/12/2014

OCC announced today its Board of Directors approved a newly formed capital plan designed to comply with proposed new standards for covered clearing agencies. Under the plan, OCC’s existing stockholders, Chicago Board Options Exchange, Incorporated, International Securities Exchange, LLC, NASDAQ OMX PHLX LLC, NYSE MKT LLC, and NYSE Arca, Inc. will contribute $150 million in equity capital, increasing OCC shareholders’ equity to approximately $247 million by Q1 2015. The existing stockholders will also commit to provide specified replenishment capital if needed. The plan, which is subject to regulatory approval, and approval by the exchange stockholders’ boards of directors, will enable OCC to be compliant with the proposed new standards by February 2015, well in advance of the expected implementation date.

FINRA Warns Investors Of E-Cigarette Stock Scams

Date 23/12/2014

The Financial Industry Regulatory Authority (FINRA) issued a new Investor Alert called E-Cigarette Stock Scams: New Smoking Technology Could Light Up Pump-and-Dump Fraud warning investors of aggressive promotions touting stocks that claim to capitalize on the e-cigarette and vaporizer, or "vape," market. FINRA's Alert follows the Securities and Exchange Commission's recent trading suspension for a company that purported to make disposable electronic cigarettes because of concerns about manipulative activity related to the company's common stock.

Thomson Reuters/University Of Michigan: Consumer Sentiment Highest In Eight Years

Date 23/12/2014

Consumer confidence reached its most favorable level in the December 2014 survey since the last cyclical peak was set in January 2007. The gains over the past several months have been primarily due to improving job and wage prospects, and more recently, to falling gasoline prices. Consumers held the most favorable long-term prospects for the national economy in the past decade. Importantly, the 2014 gains in jobs and wages were widespread across all population subgroups and regions. Overall, the data point toward a gain of about 3.0% in real consumer expenditures during 2015.

South Carolina Federal Court Enters Judgment Against Robert Stanley Harrison For Commodity Pool Fraud

Date 23/12/2014

The U.S. Commodity Futures Trading Commission (CFTC) today announced that Magistrate Judge Jacquelyn D. Austin of the U.S. District Court for the District of South Carolina entered a Consent Order for Permanent Injunction resolving charges against Robert Stanley Harrison of Easley, South Carolina, for operating a fraudulent futures and off-exchange foreign currency pool scheme called Investors Choice Advisors LLC(ICA).

IMF Executive Board Modifies SDR Interest Rate Basket

Date 23/12/2014

On December 22, 2014, the Executive Board of the International Monetary Fund (IMF) decided to replace the three-month Eurepo rate as the euro component of the SDR interest basket with the three-month spot rate for euro area central government bonds with a rating of AA and above published by the European Central Bank (click link for details about the interest rate and the estimation method). This decision was taken in view of the upcoming discontinuation of the Eurepo rate as of December 31, 2014. The change in the SDR interest rate basket will be effective as of January 1, 2015 and will apply for the first time to the calculation of the weekly SDR interest rate for the interest rate period starting on Monday January 5, 2015.