News Centre

SEC Charges President/CCO Of Prophecy Asset Management Advisory Firm With Multi-Year Fraud

Date 02/11/2023

The Securities and Exchange Commission today charged John Hughes, president and chief compliance officer of registered investment adviser Prophecy Asset Management LP, for his involvement in a multi-year fraud that concealed losses of hundreds of millions of dollars from investors.

Autorité des Marchés Financiers: Draft Regulation Providing Enhanced Rules For Disclosure Of All Costs Related To Segregated Funds

Date 02/11/2023

The Autorité des marchés financiers (the “AMF”) today published for comment its draft regulation (pdf - 223 KB)This link will open in a new window respecting information to be provided to holders of individual variable insurance contracts relating to segregated funds (the “Draft Regulation”). The Draft Regulation is intended to enhance performance, guarantee and cost reporting requirements for segregated funds.

Statement On Rules Relating To Security-Based Swap Execution And Registration And Regulation Of Security-Based Swap Execution Facilities, SEC Commissioner Mark T. Uyeda, Nov. 2, 2023

Date 02/11/2023

I have unaddressed concerns regarding the rule adoption relating to Security-Base Swap Execution and Registration and Regulation of Security-Based Swap Execution Facilities. Therefore, I cannot support the adoption as recommended. A more comprehensive statement conveying those concerns will be forthcoming at a later date.

CFTC Commissioner Goldsmith Romero To Participate At The National Asian Pacific American Bar Association Convention’s Panel On Presidential Appointments

Date 02/11/2023

CFTC Commissioner Pham Announces Agenda For The Upcoming Global Markets Advisory Committee Meeting On November 6

Date 02/11/2023

CFTC Commissioner Caroline D. Pham, sponsor of the Global Markets Advisory Committee (GMAC), announced the agenda for the upcoming GMAC public meeting on Monday, November 6, from 9:00 a.m. (EST) to 12:00 p.m. (EST) at the CFTC’s Washington, D.C. headquarters.

CFTC Chairman Behnam To Participate In The 7th Annual DC Fintech Week Conference

Date 02/11/2023

Remarks At The ALI – CLE 2023 Conference On Life Insurance Company Products, Commissioner Mark T. Uyeda, Washington D.C., Nov. 2, 2023

Date 02/11/2023

Thank you, Steve [Roth], for the kind introduction, and for the invitation to be part of the 41st annual ALI-CLE insurance products program and join many current and former SEC colleagues who are also participating. Forty-one years is an amazing streak and demonstrates a deep commitment to continuing legal education. Congratulations to Steve on his 25th year as co-chair, and I understand that this is Richard [Choi’s] 17th year. Congratulations to each of you for longstanding efforts.

BIS: Lessons From Recent Experiences On Exchange Rates, Capital Flows And Financial Conditions In EMEs

Date 02/11/2023

Key takeaways

• Currency appreciation in emerging market economies (EMEs) has gone hand in hand with greater risk-taking, higher capital flows and more accommodative financial conditions, against the backdrop of the increasing share of foreign investment in local currency assets in EMEs' external financing since 2007.
• The historically positive correlation between US dollar strength against EME currencies and EME sovereign bond spreads over US Treasuries up to 2021 continued in Latin America but reversed in emerging Asia in 2022–23.
• Such a divergence reflects a range of policy responses by EME central banks in the face of the unprecedented combination of shocks in 2022. In particular, central banks in emerging Asia intervened more actively in FX markets and relied less on monetary policy tightening than those in Latin America.

Moscow Exchange Trading Volumes In October 2023

Date 02/11/2023

In October 2023, total trading volumes across Moscow Exchange's markets totaled RUB 135.5 trln (RUB 71.7 in October 2022). Unless stated otherwise, all figures below refer to performance for August 2023 and all comparisons are with the same period last year.

Statement On Registration Of Security-Based Swap Execution Facilities, SEC Chair Gary Gensler, Nov. 2, 2023

Date 02/11/2023

Today, the Commission adopted final rules to create a framework for the registration of security-based swap execution facilities (security-based SEFs). I support today’s adoption because, through fulfilling Congress’s mandate, it increases the transparency and integrity of the security-based swap market.