News Centre

Council Of The European Union Confirms Agreement With EP On Investment Funds

Date 19/03/2014

The Permanent Representatives Committee today approved, on behalf of the Council, an agreement reached with the European Parliament on a proposal to amend EU rules on investment funds (7411/14). 

ESMA Publishes List Of Authorised CCPs And OTC Derivatives

Date 19/03/2014

Following the authorisation of NASDAQ OMX as the first EU-based CCP on 18 March 2014, the European Securities and Markets Authority (ESMA) has today published information about Nasdaq OMX and the contracts it is authorised to clear. In accordance with the procedure laid out under Article 5(1) of EMIR, on 18 March 2014 ESMA was notified of NASDAQ OMX’s authorisation including the classes of OTC derivatives cleared by them.

SEC Charges Stockbroker And Law Firm Managing Clerk In $5.6 Million Insider Trading Scheme

Date 19/03/2014

The Securities and Exchange Commission today charged a stockbroker and a managing clerk at a law firm with insider trading around more than a dozen mergers or other corporate transactions for illicit profits of $5.6 million during a four-year period.

BBA Comment On The UK Chancellor's Budget

Date 19/03/2014

Commenting on the Budget,  BBA Chief Executive Anthony Browne said:

“The economy is improving but ahead of this Budget we called for action to cement the recovery. Help for savers, exporters and businesses looking to invest were at the top of our list.  On all three the Chancellor has delivered."

KBC Successfully Lists CRD IV-Compliant Additional Tier-1 Instrument For 1.4 Billion Euros On Euronext Brussels

Date 19/03/2014

Euronext N.V., a wholly owned subsidiary of IntercontinentalExchange Group, Inc. (NYSE: ICE), today admitted to listing KBC Group’s 1.4 billion euros in non-dilutive, CRD IV-compliant Additional Tier-1 (AT1) securities on its regulated market in Brussels.

UK's Financial Conduct Authority: Besso Limited Fined For Anti-Bribery And Corruption Systems Failings

Date 19/03/2014

The Financial Conduct Authority (FCA) has fined Besso Limited £315,000 for a failure to take reasonable care to establish and maintain effective systems and controls for countering the risks of bribery and corruption.

Keynote Address At The Investment Company Institute 2014 Mutual Funds And Investment Management Conference - Craig M. Lewis, SEC Chief Economist And Director, Division Of Economic And Risk Analysis

Date 19/03/2014

Encouraging Economic Discourse

Thank you for inviting me here today to deliver the keynote address at this important conference.  I am particularly pleased to be sharing this honor with Norm Champ, the Director of the Division of Investment Management.  As I will touch on today, my Division’s work with him and his staff exemplifies the type of detailed and in-depth economic thinking that I believe currently is – and should continue to be – a hallmark of the SEC’s approach to rulemaking.  Before I go further, however, let me remind you that the remarks I make today are my own and do not necessarily reflect the views of the Commission, Commissioners, or of SEC staff.[1]

UK Government To Set Up Alan Turing Institute To Ensure Britain Leads The Way In Big Data And Algorithm Research.

Date 19/03/2014

The UK Minister of Finance, George Osborne, announced today that the government was establishing the Alan Turing Institute to ensure Britain leads the way in big data and algorithm research.

London Stock Exchange Consultation On The Market Structure For The Introduction Of An Intra-Day Auction For SETS Equities And IOB

Date 19/03/2014

London Stock Exchange is conducting a market consultation into potential enhancements to auctions on London Stock Exchange. This paper focuses on thepotential introduction of an intra-day auction for SETS equities.

Feedback from this consultation will be used to help define the future development of auction trading on London Stock Exchange.

California Attorney Sentenced To Prison In Scheme To Hide Millions In Secret Swiss Accounts At UBS AG and Pictet & Cie

Date 19/03/2014

California attorney Christopher M. Rusch was sentenced to serve 10 months in prison for helping his clients Stephen M. Kerr and Michael Quiel, both businessmen from Phoenix, hide millions of dollars in secret offshore bank accounts at UBS AG and Pictet & Cie in Switzerland, the Justice Department and the Internal Revenue Service (IRS) announced today.   U.S. District Judge James A. Teilborg also ordered Rusch to serve three years of supervised release following his prison sentence.   On Feb. 6, 2013, Rusch pleaded guilty to conspiracy to defraud the government and failing to file a Report of Foreign Bank and Financial Accounts (FBAR).   Kerr and Quiel were sentenced in September 2013 to each serve 10 months in prison after both were tried and convicted of filing false income tax returns for 2007 and 2008.   The jury also convicted Kerr of failing to file FBARs for 2007 and 2008.