News Centre

SEC: Slide Presentation (PDF): Update From The Division Of Corporation Finance And The Office Of The Chief Accountant, 2013 AICPA National Conference On Banks & Savings Institutions

Date 30/09/2013

Stephanie J. Ciboroski, Senior Assistant Chief Accountant; Matthew Schell, Professional Accounting Fellow; and Mark Shannon, Associate Chief Accountant

Sept. 18, 2013

Slide Presentation (PDF):  Update from the Division of Corporation Finance and the Office of the Chief Accountant, 2013 AICPA National Conference on Banks & Savings Institutions

CFTC Issues Order Relating To The Continuation, Shutdown And Resumption Of Certain Commission Operations In The Event Of A Lapse In Appropriations

Date 30/09/2013

The U.S. Commodity Futures Trading Commission (CFTC) today issued a final order to provide for the continuation, shutdown and resumption of certain operations of the CFTC and to alert all persons regulated by or engaged in proceedings at the CFTC of these provisions in the event of a lapse in appropriations.

SEC: Financial Reporting And Accounting Fraud, Andrew Ceresney, Co-Director Of The Division Of Enforcement, American Law Institute Continuing Legal Education, Washington, D.C.

Date 30/09/2013

1. Introduction

Thank you for that kind introduction.  At the outset, let me give the requisite reminder that the views I express today are my own and do not necessarily represent the views of the Commission or its staff.

It is great to be here today.  I am excited to speak about a topic that is near and dear to me – financial reporting and accounting fraud, and the SEC’s efforts to combat it.  I recently read a New York Timesarticle with a headline about the SEC bringing sexy back and referencing our efforts to combat accounting fraud – I had a hearty chuckle over that.  I couldn’t stop laughing about both the idea that the SEC was sexy and that the sexiness was due to a focus on accounting fraud.  But I guess it is all about context – you definitely take that kind of press whenever you can get it.  Better for the press to be talking about us as sexy than lots of other things. 

ISDA/IIF/GFMA Response To The BCBS 254 CD: The Non-Internal Model Method For Capitalising Counterparty Credit Risk Exposures

Date 30/09/2013

On September 27, the International Swaps and Derivatives Association, Inc. (‘ISDA’), the Institute of International Finance (‘IIF’) and the Global Financial Markets Association (‘GFMA’), responded to the Basel Committee on Banking Supervision (‘BCBS’) Consultative Document ‘The non-internal model method for capitalising counterparty credit risk exposures (NIMM)', dated June 2013. 

CFTC’s Division Of Market Oversight Issues Time-Limited No-Action Relief For Temporarily Registered Swap Execution Facilities from Commission Regulation 37.6(b) for Non-Cleared Swaps

Date 30/09/2013

The Commodity Futures Trading Commission’s (CFTC) Division of Market Oversight (Division) issued a letter providing temporarily registered swap execution facilities (SEFs) with relief from the transaction confirmation requirement within CFTC regulation 37.6(b) for swaps that are not intended to be submitted for clearing (Non Cleared Swaps) and subject to conditions specified in the letter.  The relief expires no later than 12:01 a.m. eastern time on October 30, 2013 for Non-Cleared Swaps in the foreign exchange (“FX”), interest rate, and credit asset classes, and no later than 12:01 a.m. eastern time on December 2, 2013 for Non-Cleared Swaps executed in the equity and other commodity asset classes.

The NASDAQ Stock Market Leads U.S. Exchanges In IPOs For Q3 2013 - Strong September Brings NASDAQ's Quarterly IPO Total To 38 - 91 IPOs YTD At End Of Third Quarter 2013 - Remains The Leading U.S. Exchange For Technology, Biotechnology And Venture Capital-Backed Listings

Date 30/09/2013

The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) today announced that it welcomed 59 new listings in the third quarter of 2013, including 38 initial public offerings (IPO) – more IPOs than any other U.S. exchange. Combined proceeds raised by NASDAQ's 91 IPOs in 2013 year-to-date total more than $10 billion.

CFTC Orders ADM Investor Services, Inc. To Pay A $425,000 Penalty For Unlawfully Commingling Customer Funds With Funds In Non-Customer Accounts

Date 30/09/2013

The U.S. Commodity Futures Trading Commission (CFTC) today issued an Order filing and simultaneously settling charges against ADM Investor Services, Inc. (ADMIS), a CFTC-registered Futures Commission Merchant (FCM), for unlawfully commingling customer funds with funds held in its non-customer accounts. The CFTC Order requires ADMIS to pay a civil monetary penalty of $425,000, to cease and desist from violating Section 4d(a)(2) of the Commodity Exchange Act (CEA) and Commission Regulation 1.20(c), and to implement improved procedures, to the extent that it has not already done so, to ensure the proper classification of such accounts.

BGC Partners, Inc.: BGC Partners Updates Its Outlook For The Third Quarter Of 2013

Date 30/09/2013

BGC Partners, Inc. (NASDAQ: BGCP) ("BGC Partners," "BGC," or "the Company"), a leading global brokerage company primarily servicing the wholesale financial and real estate markets, today announced that it has updated its outlook for the quarter ending September 30, 2013.

U.S. Office Of Financial Research Delivers Report On Asset Management Industry

Date 30/09/2013

The U.S. Department of the Treasury’s Office of Financial Research (OFR) has delivered a report to the Financial Stability Oversight Council (Council) on ways that activities in the asset management industry might create, amplify, or transmit stress through the financial system.

DTCC To Partner With Global Banks To Develop Comprehensive Client Reference Data Service

Date 30/09/2013

The Depository Trust & Clearing Corporation (DTCC) announced today that it has signed a memorandum of understanding (MOU) with a group of large global banks that includes Barclays, Credit Suisse, Goldman Sachs and JPMorgan Chase and others to jointly develop a comprehensive service to collect and manage client entity reference data necessary to meet regulatory requirements and other normal course of business activities.