News Centre

Monetary Authority Of Singapore Issues Prohibition Orders Against Ms Huang Mengting For Cheating

Date 19/07/2023

The Monetary Authority of Singapore (MAS) has issued five-year prohibition orders (POs) against Ms Huang Mengting, a former representative of Prudential Assurance Company Singapore (Pte) Limited (Prudential). The POs were issued following Ms Huang’s conviction in the State Courts for cheating offences. Her offences also gave MAS reason to believe that she will not perform financial advisory services honestly. 

UAE Securities And Commodities Authority: Hijri New Year Holiday Is Announced For Financial Markets

Date 19/07/2023

Under Circular No. 07 of 2023 issued by the Federal Authority for Government Human Resources concerning the Hijri New Year 1445 holiday, the Securities and Commodities Authority announced that the Abu Dhabi Securities Exchange and the Dubai Financial Market will close for the Hijri New Year holiday on Friday, July 21. Trading will resume on Monday, July 24.

ASIC Cancels AFS Licence Of FTX Australia

Date 19/07/2023

ASIC has cancelled the Australian financial services (AFS) licence held by FTX Australia Pty Ltd (FTX Australia), effective from 14 July 2023.

Opening Statement Of CFTC Commissioner Kristin N. Johnson: Measuring Benefits And Mitigating The Risks Of Integrating Artificial Intelligence, July 18, 2023

Date 18/07/2023

Introduction

Good morning. Thank you, Commissioner Goldsmith-Romero, Tony Biagioli, the Technology Advisory Committee (TAC) Designated Federal Officer, and to the members of the TAC.  It’s a pleasure to be here at your second meeting.

Treasury International Capital Data For May

Date 18/07/2023

The U.S. Department of the Treasury today released Treasury International Capital (TIC) data for May 2023.  The next release, which will report on data for June 2023, is scheduled for August 15, 2023.

CFTC Announces Agenda For The July 19 Voluntary Carbon Markets Convening

Date 18/07/2023

The Commodity Futures Trading Commission Chairman Rostin Behnam today released the agenda for the second voluntary carbon markets convening that will be held on July 19 at 11:30 a.m. (EDT) at the CFTC's headquarters in Washington, D.C. The convening is open to the public to attend in person, by webcast at CFTC.gov, and by telephone.

US Office Of The Comptroller Of The Currency: Senior Deputy Comptroller For Large Bank Supervision Testifies On Climate-Related Financial Risks

Date 18/07/2023

Office of the Comptroller of the Currency (OCC) Senior Deputy Comptroller for Large Bank Supervision Greg Coleman today testified before the U.S. House of Representatives’ Committee on Financial Services’ Subcommittee on Financial Institutions and Monetary Policy on the agency’s supervision of climate-related financial risks.

ISDA-FIA Response To Proposed SEC Rules On Clearing Agency Intraday Margin And Recovery/Wind-Down Plans

Date 18/07/2023

On Monday, July 17, ISDA and the Futures Industry Association (FIA) submitted comments on the Security Exchange Commission’s (SEC) proposed rulemaking regarding Clearing Agency Resilience and Recovery and Wind-Down Plans. The associations generally support the proposed changes aimed at enhancing the regulatory framework for recovery and wind-down plans and intraday margin processes of clearing agencies. They suggest that more prescriptive guidance is necessary for intraday margin and recovery and wind-down plans to provide clear expectations for clearing members and their clients. They emphasize the importance of predictability of margin calls and advocate for increased transparency of Initial Margin models. Additionally, they stress the need for credible recovery plans to ensure financial stability, and they call for clear rules on non-default losses and compensation for clearing participants. The response also addresses the need for a second tranche of Clearing Agency own-funds capital and emphasizes the importance of including procedures for participants to move positions during orderly wind-down in the proposed rules.

Opening Statement Of CFTC Commissioner Christy Goldsmith Romero At The Technology Advisory Committee On Responsible AI In Financial Services, DAOs And Other DeFi & Cyber Resilience

Date 18/07/2023

I welcome you to the CFTC.  With artificial intelligence (AI) at the forefront of public discussion, significant movements in digital asset markets to decentralized finance (DeFi) after the collapse of unregistered centralized exchanges and several enforcement actions, as well as escalated and persistent cyber threats, I look forward to presentations and discussion from recognized technology experts who serve on the TAC.  I want to thank TAC Chair Carole House and Vice Chair Ari Redbord for their leadership of TAC, including putting together today’s agenda.  I also want to thank CFTC staff Tony Biagioli who is the designated federal officer (DFO) of TAC, our two new assistant DFOs Drew Rodgers and Lauren Bennett, and Scott Lee in my office, and others in the CFTC who keep TAC running and helped organized today’s event.

ISDA derivatiViews: Surveying Local Derivatives Markets

Date 18/07/2023

By enabling firms to manage their risks and create greater certainty and stability in their business, derivatives can boost economic growth and contribute to capital markets liquidity in emerging market and developing economies (EMDEs). However, a range of legal, regulatory and risk management issues must be addressed to promote the development of safe and efficient local derivatives markets. To better understand those issues, ISDA undertook a survey of EMDE jurisdictions that provides valuable information to support the development of derivatives markets in those countries.