News Centre

Joint Statement Relating To In The Matter Of Classic Asset Management, LLC, CFTC Commissioner Caroline A. Crenshaw, CFTC Commissioner Jaime Lizárraga, May 5, 2023

Date 05/05/2023

Yesterday the Commission announced a settled action in the matter of Classic Asset Management, LLC, et al. This investment adviser and its representative violated their fiduciary duties of care to hundreds of clients with respect to investments made in complex products known as leveraged exchange-traded funds. Investors experienced substantial losses.

SEC Charges Investment Adviser And Fund Trustees With Liquidity Rule Violations

Date 05/05/2023

The Securities and Exchange Commission today announced charges against investment adviser Pinnacle Advisors LLC for aiding and abetting Liquidity Rule violations by a mutual fund it advised and whose Liquidity Risk Management Program it administered. The SEC also charged the fund’s two independent trustees, Mark Wadach and Lawton “Charlie” Williamson, and two officers of both Pinnacle Advisors and of the fund it advised, Robert Cuculich and Benjamin Quilty, with aiding and abetting Liquidity Rule violations by the fund. A third trustee, Joseph Masella, agreed to settle charges that he caused and willfully counseled the fund’s violations. 

New York Attorney General James Proposes Nation-Leading Regulations On Cryptocurrency Industry - Crypto Regulation, Protection, Transparency, And Oversight (CRPTO) Act Would Eliminate Conflicts Of Interest, Increase Transparency, And Impose Commonsense Measures To Protect Investors

Date 05/05/2023

New York Attorney General Letitia James today announced landmark legislation to tighten regulations on the cryptocurrency industry to protect investors, consumers, and the broader economy. The multi-billion-dollar industry lacks robust regulations, making it prone to dramatic market fluctuations, and has been used to hide and facilitate criminal conduct and fraud. Attorney General James’ program bill, which proposes the strongest and most comprehensive set of regulations on cryptocurrency in the nation, would increase transparency, eliminate conflicts of interest, and impose commonsense measures to protect investors, consistent with regulations imposed on other financial services.

Nigerian Exchange Weekly Market Report For May 5th, 2023

Date 05/05/2023

The Market opened for four trading days this week as the Federal Government of Nigeria declared Monday 1 st May, 2023 as Public Holidays to mark the Workers’ Day celebration.

Prepared Remarks Before The 10th Annual Conference On Financial Market Regulation, SEC Chair Gary Gensler, Washington, DC, May 5, 2023

Date 05/05/2023

Good morning. It is a pleasure to welcome you to the second and final day of the 10th Annual Conference on Financial Market Regulation.

BIS: Long-Term Debt Propagation And Real Reversals

Date 05/05/2023

Summary

Focus

Economic propagation mechanisms that capture how disturbances systematically feed through the economy over time are central to macroeconomic models. Such mechanisms allow us to understand the behaviour of key macroeconomic variables and help us make more reliable forecasts. Unfortunately, many macro models lack strong propagation based on understandable economic behaviour and instead rely on mechanisms for which there is no economic rationale.

SEC Issues Largest-Ever Whistleblower Award

Date 05/05/2023

The Securities and Exchange Commission today announced the largest-ever award, nearly $279 million, to a whistleblower whose information and assistance led to the successful enforcement of SEC and related actions. This is the highest award in the SEC’s whistleblower program’s history, more than doubling the $114 million whistleblower award the SEC issued in October 2020.

April 2023 Figures At Eurex

Date 05/05/2023

• OTC Clearing and Repo volumes continue to rise
• Strongest growth in daily GC Pooling with volumes rising 172 percent in April y-o-y
• Notional outstanding in OTC clearing up 21 percent

Miami International Holdings Reports Trading Results For April 2023 - MIAX Pearl Equities Sets Monthly Market Share Record

Date 05/05/2023

Miami International Holdings, Inc. today reported April 2023 trading results for its U.S. exchange subsidiaries – MIAX®, MIAX Pearl® and MIAX Emerald® (together, the MIAX Exchange Group), and Minneapolis Grain Exchange (MGEX™).

MGEX Reports Trading Results For April 2023 - SPIKES Futures Sets Open Interest Record

Date 05/05/2023

Minneapolis Grain Exchange (MGEX™), a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO), today reported April 2023 trading volume of 240,298 contracts, representing a 2.0% decrease year-over-year (YoY) from the same period in 2022 and a 1.0% decrease from March 2023.