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Simplicity Is A Goal Unto Itself: Statement On Tailored Shareholder Reports For Mutual Funds And Exchange Traded Funds; Fee Information In Investment Company Advertising, SEC Commissioner Caroline A. Crenshaw, Oct. 26, 2022

Date 26/10/2022

Throughout history, some of the world’s greatest minds have extolled the virtues of simplicity. Fryderyk Chopin is credited with saying, “Simplicity is the highest goal, achievable when you have overcome all difficulties.” Brevity is the soul of wit,” Shakespeare told us through Polonius in the second act of Hamlet. And, of course, there is Occam’s razor, which stands for the principle that a simpler explanation is preferable to one that is more complex.
CFTC Exempts Additional European Union Multilateral Trading Facilities And Organised Trading Facilities From SEF Registration Requirements

Date 26/10/2022

The Commodity Futures Trading Commission today announced that it has unanimously approved an amended order that exempts two multilateral trading facilities (MTFs) and two organised trading facilities authorized within the European Union (EU) from CFTC swap execution facility (SEF) registration requirements. The exempted MTFs are Financial & Risk Transaction Services Ireland Limited (Ireland) and TRAD-X MTF (France). The exempted OTFs are Market Securities OTF (France) and Tradition España OTF (Spain).
CFTC Exempts Additional Singapore Recognized Market Operators From SEF Registration Requirements

Date 26/10/2022

The Commodity Futures Trading Commission today announced it has unanimously approved an amended order that exempts three Recognized Market Operators (RMOs) authorized within Singapore from CFTC swap execution facility (SEF) registration requirements. The exempted RMOs are Bloomberg Tradebook Singapore Pte Ltd, SGX FX Markets Pte. Ltd., and Synoption Pte. Ltd.
US Office Of The Comptroller Of The Currency To Host Symposium On Bank Mergers

Date 26/10/2022

The Office of the Comptroller of the Currency (OCC) will host a symposium on bank mergers at its headquarters in Washington, D.C., on February 10, 2023.
MIAX Option: Change To The Live Quote Window Time For he SPIKES Settlement Auction

Date 26/10/2022

Beginning on November 16, 2022, MIAX Options will change the Live Quote Window (“LQW”) opening time to 8:30:00 AM ET for SPY options used in calculating the SPIKES Settlement Price.

Outsourcing Fiduciary Duty To the Commission: Statement On Proposed Outsourcing By Investment Advisers, SEC Commissioner Hester M. Peirce Oct. 26, 2022

Date 26/10/2022

Thank you Chair Gensler. Investment advisers are fiduciaries to their clients, so why are we giving them step-by-step instructions on how to do their jobs? If we think Congress got it wrong—that investment advisers cannot, absent regulatory handholding, serve their clients faithfully—then we should tell Congress. The approach we are taking—incrementally displacing their judgment with our own—is neither statutorily grounded nor protective of investors. I could have supported Commission guidance highlighting the importance of an adviser’s ongoing obligations to its clients when it has engaged a service provider. I cannot support repackaging existing fiduciary obligations into a new set of prescriptions for investment advisers.
Accountability In An Evolving Asset Management Industry, SEC Commissioner Jaime Lizárraga, Oct. 26, 2022

Date 26/10/2022

Today, the Commission is proposing a set of key reforms that would bring accountability and enhanced investor protections when an investment adviser outsources its activities. I am pleased to support today’s proposal.
Modernizing Mutual Fund And ETF Disclosures For Investors, SEC Commissioner Jaime Lizárraga, Oct. 26, 2022

Date 26/10/2022

Today, the Commission is adopting key disclosure reforms for the approximately $26 trillion mutual fund industry and $5 trillion exchange-traded fund (ETF) industry. Because of these reforms, investors will now receive information about a fund’s operations and activities in a more concise, engaging, and usable way.
SEC Proposes New Oversight Requirements For Certain Services Outsourced By Investment Advisers

Date 26/10/2022

The Securities and Exchange Commission today proposed a new rule and rule amendments under the Investment Advisers Act of 1940 to prohibit registered investment advisers from outsourcing certain services and functions without conducting due diligence and monitoring of the service providers.
NGX Builds Capital Market Capacity On Finance Act

Date 26/10/2022

As part of its commitment to building the capacity of stakeholders in the capital market, Nigerian Exchange Limited (NGX or The Exchange) organised a webinar on the impact of the 2021 Finance Act on the operating environment.