News Centre

SEC: Colombian Conglomerate Grupo Aval And Its Bank Subsidiary To Pay $40 Million To Settle FCPA Violations

Date 10/08/2023

The Securities and Exchange Commission today charged Colombian conglomerate Grupo Aval Acciones y Valores S.A., aka Grupo Aval S.A., and its bank subsidiary, Corporación Financiera Colombiana S.A. (Corficolombiana), with violating the Foreign Corrupt Practices Act (FCPA). Grupo Aval, whose shares are traded on the New York Stock Exchange, agreed to pay $40 million to settle the SEC charges.

Crypto Asset Trading Platform Bittrex And Former CEO To Settle SEC Charges For Operating An Unregistered Exchange, Broker, And Clearing Agency - Bittrex Global GmbH Also Settles Charges For Failing To Register As A National Securities Exchange

Date 10/08/2023

The Securities and Exchange Commission today announced that crypto asset trading platform Bittrex Inc. and its co-founder and former CEO, William Shihara, agreed to settle charges that they operated an unregistered national securities exchange, broker, and clearing agency. Bittrex Inc.’s foreign affiliate, Bittrex Global GmbH, also agreed to settle charges that it failed to register as a national securities exchange.

CFTC Financial Data For Futures Commission Merchants Update

Date 10/08/2023

The latest reports for June 2023 are now available.

Statement From US Secretary Of The Treasury Janet L. Yellen On The Ukraine Supplemental Budget Request

Date 10/08/2023

Secretary of the Treasury Janet L. Yellen issued the following statement on the Ukraine Supplemental Budget Request.

“The United States is steadfast in its commitment to support the Ukrainian people and Government as they continue to defend themselves against Russia’s barbaric war. We are grateful for the strong bipartisan congressional support that is vital to Ukraine’s fight and survival as a sovereign democratic state, as well as the support from our allies and partners who have delivered tens of billions of dollars in economic and security assistance. Sustaining our direct budget support helps reinforce Ukraine’s brave resistance and mitigate the consequences of Russia’s brutal war by providing the Government of Ukraine with the resources it needs to deliver essential services, such as healthcare, education, and funding for emergency first responders including after Russian air strikes. The United States will continue to lead the worldwide coalition we have built in supporting Ukraine, particularly as U.S. assistance catalyzes further financial support from other countries and the international financial institutions (IFIs). We are grateful for the increased burden-sharing from our partners that we have seen following our commitments. That includes under Ukraine’s International Monetary Fund (IMF) program, which has proven critical to Ukraine’s efforts to implement reforms and stabilize the economy."

SIFMA Lawsuit Challenges New Missouri Rules That Restrict Financial Professionals’ Ability To Serve Their Customers’ Best Interests - Plaintiff Asks Court To Strike Down Over-Reaching, Subjective, And Impermissibly Vague State Regulations That Require Missouri-Specific Disclosures That Will Confuse Investors And Violate Federal Law

Date 10/08/2023

The Securities Industry and Financial Markets Association (SIFMA) filed a federal court challenge to new Missouri documentation rules today.  The new rules, effective July 30, 2023, require financial firms and professionals that incorporate any “social objective or other nonfinancial objective” into their analysis to obtain their customers’ written consent on a state-written prescribed script.  “Social” or “nonfinancial” objectives may include multifaceted client objectives, such as tax considerations, diversification, risk tolerance, time horizon, liquidity needs, faith or values-based objectives, and local community investment objectives, among others.

Canadian Securities Administrators Updates Industry On Institutional Trade Matching Deadline

Date 10/08/2023

The Canadian Securities Administrators (CSA) today published Staff Notice 24-319 to update industry on its recommendations regarding the T+1 trade matching deadline.

CFTC Commissioner Kristin Johnson Announces Tamika Bent As Chief Counsel

Date 10/08/2023

CFTC Commissioner Kristin N. Johnson today announced that Tamika Bent has joined her executive staff as Chief Counsel.

Canadian Securities Regulators Initiate Review Of Exchange-Traded Funds

Date 10/08/2023

The Canadian Securities Administrators (CSA) is launching a review of exchange-traded funds (ETFs). ETFs are an increasingly popular investment vehicle, offering exposure to a variety of underlying assets and investment strategies, with intraday liquidity on the secondary market. ETFs comprise approximately 15% of total publicly offered investment fund assets in Canada, and are expected to continue to grow.

Validus Launches Active Rule-Based ETF Seeking To Provide Risk-Adjusted Exposure To S&P 500

Date 10/08/2023

• A new generation rule-based strategy launches on Cboe exchange.
• Index-Based Strategy for Potential Risk Reduction and Downside Mitigation

ETFGI Reports Assets Invested In The ETFs Industry In Canada Reached A Record Of US$295 Billion At End Of July

Date 10/08/2023

ETFGI, a leading independent research and consultancy firm covering trends in the global ETFs ecosystem, reports assets invested in the ETFs industry in Canada reached a record of US$295 billion at the end of July. The ETFs industry in Canada gathered net inflows of US$2.77 billion during July, bringing year-to-date net inflows to US$19 billion. Assets have increased 17.7 % YTD in 2023, going from US$250.19 Bn at the end of 2022, to US$294.56 Bn at the end of July, according to ETFGI's July 2023 Canadian ETFs and ETPs industry landscape insights report, the monthly report which is part of an annual paid-for research subscription service. (All dollar values in USD unless otherwise noted.)