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Equitable Financial To Pay $50 Million Penalty To Settle SEC Charges That It Provided Misleading Account Statements To Investors - Accounts Belonged To Public School Teachers And Staff Investing For Retirement

Date 18/07/2022

The Securities and Exchange Commission today announced fraud charges against Equitable Financial Life Insurance Company for providing account statements to about 1.4 million variable annuity investors that included materially misleading statements and omissions concerning investor fees. Equitable agreed to pay $50 million to harmed investors, most of whom are public school teachers and staff members, to settle the charges.

Readout: US Deputy Secretary Of The Treasury Wally Adeyemo’s Meeting With Prime Minister Natalia Gavrilița Of Moldova

Date 18/07/2022

Today, Deputy Secretary of the Treasury Wally Adeyemo met with Prime Minister Natalia Gavrilița of Moldova to discuss global economic spillovers caused by Russia’s unprovoked and unjustified war against Ukraine—including higher energy prices—and the united international response to hold Putin accountable. They discussed external financing provided by donor countries and multilateral organizations to Moldova since the start of the war to help with spillovers of Putin’s brutal assault, including $130 million in economic assistance provided by the United States. Deputy Secretary Adeyemo and Prime Minister Gavrilița also spoke about energy security issues. 

Jaime Lizárraga Sworn In As SEC Commissioner

Date 18/07/2022

The Securities and Exchange Commission today announced that Jaime Lizárraga has been sworn into office as a Commissioner by Chair Gary Gensler. Commissioner Lizárraga was nominated by President Biden earlier this year and confirmed by the U.S. Senate on June 16.

Treasury International Capital Data For May

Date 18/07/2022

The U.S. Department of the Treasury today released Treasury International Capital (TIC) data for May 2022.  The next release, which will report on data for June, is scheduled for August 15, 2022.

CFTC: Federal Court Orders Texas Man To Pay Over $290,000 For Manipulative And Deceptive Digital Asset Pump-And-Dump Scheme

Date 18/07/2022

The Commodity Futures Trading Commission today announced the U. S. District Court for the Southern District of New York entered a consent order on July 14 for a permanent injunction, monetary sanctions, and disgorgement of ill-gotten proceeds against Jimmy Gale Watson of Dallas, Texas.

ISDA derivatiViews: Getting Crypto Capital Requirements Right

Date 18/07/2022

For participants in the crypto-asset market, these have been unsettling times, with plummeting asset values, falling market capitalization and several high-profile casualties. Promoting appropriate risk management in this fledgling market has never been more important. That is why we welcome the Basel Committee’s work to develop a robust capital framework for bank exposures to crypto assets.

CFTC Swaps Report Update

Date 18/07/2022

CFTC's Weekly Swaps Report has been updated, and is now available.

Bank Of England: Some Reflections On Monetary Policy Past, Present And Future − Speech By Michael Saunders, Member Of The Monetary Policy Committee, Given At The Resolution Foundation

Date 18/07/2022

Michael Saunders is near the end of his term on the committee responsible for setting interest rates. In this speech, he reflects on his experience. Then he looks at the effect of demographic changes on the jobs market and gives his view on interest rates.

CFTC Extends Public Comment Period On Request For Information On Climate-Related Financial Risk

Date 18/07/2022

The Commodity Futures Trading Commission is extending the deadline for the public comment period on a Request for Information on Climate-Related Financial Risk (RFI) to October 7.

BIS: Capital flows And Monetary Policy Trade-Offs In Emerging Market Economies

Date 18/07/2022

Summary

Focus

Emerging market economies (EMEs) commonly combine inflation targeting monetary policy regimes with macroprudential tools, capital flow management measures and FX intervention, to meet the challenges they face from swings in capital flows. These swings raise difficult trade-offs for monetary policy and require policymakers to resort to complementary policy tools to enhance macro-financial stability. We provide a characterisation of these trade-offs, distinguishing between times of stress and normal times when vulnerabilities build up, and assess how complementary policy tools can address them.