News Centre

Statement On Proposed Joint Amendments To Form PF, SEC Chair Gary Gensler, Aug. 10, 2022

Date 10/08/2022

Today, the Commission is considering whether to propose joint amendments with the Commodity Futures Trading Commission (CFTC) to Form PF, an important reporting tool that the Commission and the Financial Stability Oversight Council (FSOC) use, respectively, to protect investors and monitor systemic risk. I am pleased to support the proposal because, if adopted, it would improve the quality of the information we receive from all Form PF filers, with a particular focus on large hedge fund advisers.

Statement Of CFTC Commissioner Summer K. Mersinger Regarding Extension Of No-Action Relief From Certain Position Aggregation Requirements Under CFTC Regulation 150.4

Date 10/08/2022

I support extending the no-action relief originally granted in 2017 in Commodity Futures Trading Commission (CFTC or Commission) Letter No. 17-37 (CFTC Letter 17-37) and subsequently extended in 2019 in CFTC Letter No. 19-19 (CFTC Letter 19-19, and collectively with CFTC Letter 17-37, the CFTC Letters).  The CFTC Letters provide market participants with relief from certain position aggregation requirements in Commission Regulation 150.4.  I appreciate that extending that relief will provide certainty to impacted market participants for an additional three years.  However, the certainty that market participants seek, and that the Commission owes them, should be provided by the Commission fixing unworkable rules rather than using no-action relief to “kick the can down the road” for another three years. 

CFTC Staff Extends Temporary No-Action Letter Regarding Certain Position Aggregation Requirements

Date 10/08/2022

The Commodity Futures Trading Commission’s Division of Market Oversight (DMO) today announced it has issued a no-action letter temporarily extending CFTC Staff Letter No. 19-19, regarding certain position aggregation requirements, which expires August 12. CFTC Staff Letter No. 22-09, issued today, provides that DMO will not make an enforcement referral to the Commission with respect to CFTC Regulation 150.4, subject to certain conditions, including compliance with:

SEC Charges Angel Oak Capital Advisors With Misleading Investors In $90 Million Fix-And-Flip Securitization

Date 10/08/2022

The Securities and Exchange Commission today charged Atlanta-based Angel Oak Capital Advisors, LLC and its portfolio manager Ashish Negandhi for misleading investors about the firm’s fix-and-flip loan securitization’s delinquency rates. Angel Oak and Negandhi have agreed to settle charges and pay a penalty of $1.75 million and $75,000, respectively.

FTSE Russell Introduces New Sustainable Investment Fixed Income (SIFI) Indexes

Date 10/08/2022

• The new index launches address the growing trend of integrating sustainable investment themes into fixed income indexes
• New index series consists of the FTSE Fixed Income Global Choice Index Series, FTSE Fixed Income Excluding Fossil Fuels Enhanced Index Series and FTSE Impact Bond Index Series
• Launch accompanied by research paper: Sustainable Investment – Not Just an Equity Game

Memorandum Of Understanding Between ESMA And South Africa’s Financial Sector Conduct Authority, Prudential Authority And The South African Reserve Bank Related To CCPs Established In South Africa

Date 10/08/2022

The supervision of the Covered CCPs is based upon close cooperation and the Authorities’ mutual respect for each jurisdiction’s regulatory regime and each Authority’s supervisory practices.

DTCC Launches New DTC Service Designed To Help Lower Excess Tax Withheld For Non-US Investors - The Service, Known As The 1042-S Classification Announcement, Is Anticipated To Reduce Tax Withholding By Hundreds Of Millions Of Dollars

Date 10/08/2022

The Depository Trust & Clearing Corporation (DTCC), the premier market infrastructure for the global financial services industry, today announced the launch of a new DTCC service, the 1042-S Classification Announcement (“1042-S Announcement”), following recent U.S. Securities and Exchange Commission (SEC) approval. The new offering will enable issuers to directly provide DTCC’s subsidiary, The Depository Trust Company (DTC), with IRS Form 1042-S tax withholding information on distributions prior to the payable date, lowering the amount of tax withheld on distributions for non-US investors. DTCC collaborated with BlackRock and Citi Securities Services on the launch of this service and to establish a formal process for providing interest-related dividends on bond ETFs at the time of distribution. Citi Securities Services is leveraging the new Announcement service to reduce the amount of taxes withheld on payments to its clients.

Parameta Solutions And PeerNova Announce Launch Of ClearConsensus, A Transparent High-Fidelity Consensus Network For Independent Price Valuation

Date 10/08/2022

Parameta Solutions, a leading global provider of OTC market data, partners with PeerNova, a Silicon Valley data analytics and management company to launch their consensus pricing service.

ETFGI Reports Global Hedge Funds Industry Had Net Outflows Of 27.5 Billion US Dollars While Global ETFs Industry Had Net Inflows Of 157.7 Billion US Dollars In Q2

Date 10/08/2022

ETFGI, a leading independent research and consultancy firm covering trends in the global ETFs and ETPs ecosystem, reported today that the global Hedge Funds industry suffered net outflows of US$27.5 billion (source HFR) while the Global ETFs industry gathered net inflows of US$157.7 billion in Q2 2022. Assets invested in the global ETFs industry are US$5.04 trillion larger than the assets invested in the global hedge fund industry at the end of Q2 2022.  (All dollar values in USD unless otherwise noted.)

Scila Joins The Association Of Independent Wealth Managers Singapore

Date 10/08/2022

Scila is very proud to be a new member of AIWM Singapore and look forward to helping the buy-side community to grow the knowledge about trade/market surveillance. Scila Buy-Side Compliance is a result of 14+ years of delivering market/trade surveillance solutions to the most demanding customers in the world such as regulators, exchanges and market participants (including buy-side firms) for all asset classes. Scila Buy-Side Compliance is a turnkey compliance monitoring solution for asset managers, investment firms and buy-side firms that seeks to apply modern technology to obtain a seamless route from early detection of suspicious transactions and insider trading to presentable evidence. The solution covers all asset classes and market models