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  • Collaborate To Compete: Why We Must All Embrace A Growth Mindset, Speech By Nikhil Rathi, Chief Executive, UK Financial Conduct Authority, Delivered At The City Dinner, Mansion House

    Date 16/10/2023

    Highlights

    • Industry, government and regulators all want to boost the UK’s competitiveness. To achieve this, we need to work together on a long-term vision, not short-term tactics which is why we have been a standard-bearer for innovation and regulation around the world.
    • Industry wants an effective and efficient regulator which is why we have focused on bringing down our authorisations times and investing in our digital capabilities and infrastructure.
    • Our proposals for listings and asset management reforms are designed to enhance our competitiveness, reduce complexity and unleash capital for growth.
    • We must take a balanced view of risk: let us not be so afraid of failure that will stifle innovation.

  • SEC Obtains Emergency Relief To Halt Nearly $130 Million Fraud Targeting Indian American Community

    Date 16/10/2023

    The Securities and Exchange Commission today announced that it obtained a temporary restraining order, asset freeze, and other emergency relief to halt an ongoing fraud targeting the Indian American community that has raised nearly $130 million since April 2021. The fraud is allegedly being conducted by Nanban Ventures LLC, its three founders Gopala Krishnan (aka GK), Manivannan Shanmugam, and Sakthivel Palani Gounder (collectively, Founders), and three other entities that the Founders control.

  • Readout: US Secretary Of The Treasury Janet L. Yellen’s Working Lunch With Eurogroup President Paschal Donohoe, European Commission Executive Vice-President And Commissioner For Trade Valdis Dombrovskis, And European Commissioner For Economy Paolo Gentiloni

    Date 16/10/2023

    Today, U.S. Secretary of the Treasury Janet L. Yellen joined Eurogroup President Paschal Donohoe, European Commission Executive Vice-President and Commissioner for Trade Valdis Dombrovskis, and European Commissioner for Economy Paolo Gentiloni for a working lunch hosted by President Donohoe. During the lunch, Secretary Yellen and her colleagues discussed the Eurogroup meeting later this afternoon, global macroeconomic developments, and the U.S. and EU economic outlooks. Secretary Yellen also raised sustaining robust economic support for Ukraine, sanctions against Russia, and the U.S. and EU economic relationships with China.


  • Readout: US Secretary Of The Treasury Janet L. Yellen’s Meeting With Minister Of Finance Yuriko Backes Of Luxembourg

    Date 16/10/2023

    Today, U.S. Secretary of the Treasury Janet L. Yellen met with Luxembourg’s Minister of Finance Yuriko Backes. Secretary Yellen thanked Minister Backes for welcoming her to Luxembourg for the Eurogroup meeting. Secretary Yellen commended Luxembourg for putting in place its investment screening mechanism this year. Secretary Yellen noted the positive results of Luxembourg’s recent Financial Action Task Force evaluation and efforts on anti-money laundering and combatting the financing of terrorism. Secretary Yellen also discussed international taxation efforts and the U.S. and EU’s respective economic relationships with China.


  • ISDA: Overview Of The Canadian Derivatives Market

    Date 16/10/2023

    While the Canadian derivatives market encompasses a relatively small share of global turnover, it plays an important role in the Canadian economy. Derivatives provide an effective means for companies to manage the risks arising from fluctuations in interest rates, commodity and equity prices and FX rates, as well as enabling investors to express a market view, diversify their portfolio and enhance returns. Derivatives also facilitate transparency, price discovery and market efficiency.

  • Remarks At The NSCP National Conference, SEC Commissioner Mark T. Uyeda, Dallas, TX, Oct. 16, 2023

    Date 16/10/2023

    Thank you for the introduction, Lisa [Crossley]. I am pleased to join you today at the annual conference for the National Society of Compliance Professionals (“NSCP”). During a period of unusually high rulemaking activity – a period not predicated by market-wide disruptions or systematic fraudulent activities by public companies and financial intermediaries – your focus on “for compliance, by compliance” is well-timed. Should the Securities and Exchange Commission (“Commission”) complete its full regulatory agenda, compliance professionals will bear the brunt of the immense burdens placed, or to be placed, on regulated entities. These remarks reflect my individual views as a Commissioner at the Commission and do not necessarily reflect the views of the full Commission or my fellow Commissioners.

  • BIS: Big Techs In Finance

    Date 16/10/2023

    Large technology companies, or big techs, are increasingly venturing into finance and transforming financial markets. Their activities in the financial sector have attained macroeconomic significance in several countries. Big techs owe their success to business models that generate a large stock of user data, which are then used to provide financial services. This paper focuses on the implications of the expanding footprint of big techs in finance.

  • SEC Division Of Examinations Announces 2024 Priorities

    Date 16/10/2023

    The Securities and Exchange Commission’s Division of Examinations today released its 2024 examination priorities to inform investors and registrants of the key risks, examination topics, and priorities that the Division plans to focus on in the upcoming year. This year’s examinations will prioritize areas that pose emerging risks to investors or the markets in addition to core and perennial risk areas.

  • SIFMA Conducts Successful 2023 Industry-Wide Business Continuity Test

    Date 16/10/2023

    SIFMA today issued the following statement from Charles DeSimone, SIFMA managing director, technology and operations, on SIFMA’s October 14, 2023 industry-wide business continuity test:

  • Sentiment Steadily Improving, With Another Week Of Inflows - CoinShares: Fund Flows

    Date 16/10/2023

    • Digital asset investment products saw inflows for the 3rd consecutive week totalling US$15m, although trading volumes remain 27% below the 2023 average.
    • Bitcoin saw US$16m inflows last week, bringing the year-to-date inflows to US$260m, while short-bitcoin saw inflows of US$1.7m last week too.
    • Last week was not positive for altcoins in general, with Tezos, Litecoin and Chainlink seeing outflows totalling US$0.25m, US$0.28m and US$0.31m respectively.