News Centre

Statement Regarding In the Matter Of Toews Corporation, SEC Commissioner Hester M. Peirce, SEC Commissioner Mark T. Uyeda, Sept. 20, 2022

Date 20/09/2022

We are unable to support this action, which may affect how investment advisers shape their proxy voting policies and procedures. The Commission’s Order finds that Toews Corporation (“Toews”), a registered investment adviser, violated Sections 206(2) and 206(4) of the Investment Advisers Act of 1940 (“Advisers Act”), and Rule 206(4)-6 thereunder (the “proxy voting rule”), when it caused a third-party service provider to vote client proxies pursuant to a standing instruction without any review by Toews of the proxy materials associated with those votes. In particular, Toews instructed the third-party service provider always to vote all client proxies in favor of the proposals put forth by the issuers’ management and against any shareholder proposals. Importantly, the Order does not make any findings that the adviser’s clients would have been financially better off had the adviser cast any of the votes at issue in an alternative manner. The Order also does not find that any of the votes cast were the product of a conflict of interest.

Opening Statement Of CFTC Commissioner Christy Goldsmith Romero Before The Energy And Environmental Markets Advisory Committee

Date 20/09/2022

Good morning.  I’m pleased to join you today for this meeting of the Energy and Environmental Markets Advisory Committee (EEMAC).  I want to thank Commissioner Mersinger, her staff, and Lauren Fulks, for coordinating this event.  I also appreciate my meetings with committee members to discuss the challenges that they face.  I look forward to hearing more today about the important, and very timely, topics on the agenda.

LME: Warehousing 22 227 Information Barriers Between Warehouse Companies And Trading Companies

Date 20/09/2022

This Notice informs the market that the LME has carried out a review (the “Review”) of the third party assurance reports (the “Reports”) of information barriers between Warehouse Companies and Trading Companies for the period 1 January 2021 to 31 December 2021 (the “Relevant Period”). The Review did not identify any issues of general concern for the market.

EBA Publishes Final Draft Technical Standards On The Performance-Related Triggers For Non-Sequential Amortisation Systems In STS On-Balance-Sheet Securitisations

Date 20/09/2022

The European Banking Authority (EBA) today published its final draft Regulatory Technical Standards (RTS) specifying the minimum performance-related triggers for simple, transparent and standardised (STS) on-balance-sheet securitisations that feature non-sequential amortisation.  The Capital Markets Recovery Package amended the Securitisation Regulation in several aspects, including creating a specific framework for STS on-balance-sheet securitisation to ensure that the Union securitisation framework provides for an additional tool to foster economic recovery in the aftermath of the COVID-19 crisis.

Opening Statement Of CFTC Commissioner Caroline D. Pham Before The Energy And Environmental Markets Advisory Committee

Date 20/09/2022

Good morning.  I am excited to be attending my first EEMAC meeting as a CFTC Commissioner.  I am sorry that I couldn’t be with you in Oklahoma today as I had originally planned.  In fact, one of my earliest assignments as an intern at the CFTC was to research Cushing, and I had hoped to finally see it with my own eyes and see if I got it right.

Remarks By Counselor To The US Secretary Of The Treasury Brent Neiman At The Peterson Institute For International Economics

Date 20/09/2022

Thank you, Adam, I appreciate the opportunity to speak here today. I last gave a talk at PIIE a couple of years ago, while wearing my previous hat as an academic. One great thing that you immediately notice about PIIE’s experts and affiliates is that in addition to economic theory, they care about the practical details, institutional and otherwise, that can constitute the difference between a successful or unsuccessful policy. Now, as a policymaker at Treasury, I have a more visceral appreciation for this reality, including when it comes to cross-border lending and to cross-border borrowing. I thought, therefore, this would be a great place to discuss some practical ways to do both better.

EBA Responds To The EU Parliament’s 2020 Discharge Report

Date 20/09/2022

The Opinion follows up on the observations made by European Parliament in its 2020 discharge report and elaborates on measures taken by the European Banking Authority (EBA) in response to it. Out of the 30 observations, which cover the areas of budget and financial management, performance, staff policy, procurement, prevention and management of conflicts of interest and transparency, internal control, and COVID response and business continuity, the EBA is of the view that 26 have already been implemented or are no longer applicable. For 3 observations the implementation of follow-up actions is ongoing and for one observation the status has to be further considered.

CFTC Commissioner Pham To Participate In A Fireside Chat At The NYC Climate Week Blockchain Summit

Date 20/09/2022

SEBA Bank Awarded Best “Digital Asset Offering” At 2022 Digital Wealth Management Impact Awards

Date 20/09/2022

• The Digital Wealth Impact Awards, managed by global consultancy Aite-Novarica Group, recognise the industry’s leading financial services institutions 
• This award marks the third industry accolade received by SEBA Bank in 2022 for its products and class-leading service offering

Who’s Concentrating? Trends In The Life Insurance Sector And The Need For Strong Reinsurance And Investment Risk Management − Speech By Charlotte Gerken, Bank Of England, Executive Director, Insurance Supervision, Given At The Bank Of America 27th Annual Financials CEO Conference

Date 20/09/2022

Charlotte Gerken speaks about concentration risks in Life Insurance, coming from:

• increasing longevity reinsurance;
• use of funded reinsurance; 
• and growth of illiquid assets.