News Centre

Mutual Fund Dealers Association Of Canada And IIROC Members Approve The Creation Of A Single New SRO

Date 29/09/2022

Members of the Mutual Fund Dealers Association of Canada (MFDA) and the Investment Industry Regulatory Organization of Canada (IIROC) have passed a special resolution approving the amalgamation of the two self-regulatory organizations (SROs).

FTSE Russell Announces The Results Of Its 2022 Annual Country Classification Review For Equities And Fixed Income

Date 29/09/2022

• Mongolia will be reclassified as a Frontier market effective from September 2023
• South Korea added to the Watch List for potential inclusion in the FTSE World Government Bond Index (WGBI)
•  India retained on the Watch List for potential inclusion in the FTSE Emerging Markets Government Bond Index (EMGBI)
• Ugandan government bonds will be added to the FTSE Frontier Emerging Markets Government Bond Index (FRNTEMGBI) effective from April 2023 index profiles

CFTC Orders Designated Contract Market To Pay $6.5 Million For System Safeguard, Reporting, And False Statement Violations

Date 29/09/2022

The Commodity Futures Trading Commission today issued an order simultaneously filing and settling charges against CX Futures Exchange, L.P. (CX), a designated contract market headquartered in New York, N.Y., for violations of the Commodity Exchange Act (CEA) and CFTC regulations relating to system safeguards, swap reporting, option reporting, and a giving a false statement to the CFTC.

Runoff Election Needed To Determine Winner Of CalPERS Board Retired Member Seat - Ballots To Be Mailed November 4; Voting Deadline Is December 5

Date 29/09/2022

A runoff election will be held to determine the winner of the CalPERS Board’s retiree seat after no candidate received a majority of the votes cast in the primary election.

Report From FINRA Board Of Governors Meeting – September 2022 - Board Approves Rulemaking Items, Hosts Securities And Exchange Commission Officials

Date 29/09/2022

FINRA’s Board of Governors held its fourth meeting of the year—the first with Eric Noll as Chair—on Sept. 21-22 in New York. The Board approved two rulemaking items and continued its engagement with key stakeholders by hosting officials from the Securities and Exchange Commission (SEC).

Barclays Agrees To A $361 Million Settlement To Resolve SEC Charges Relating To Over-Issuances Of Securities

Date 29/09/2022

The Securities and Exchange Commission today charged Barclays PLC and Barclays Bank PLC (BBPLC) in connection with the unregistered offer and sale of an unprecedented amount of securities due to a failure to implement any internal control to track such transactions in real time. Both firms restated their year-end 2021 audited financial statements filed with the Commission as a result of the over-issuances and internal control failure. The firms agreed to pay a $200 million civil penalty and the SEC additionally ordered BBPLC to pay disgorgement and prejudgment interest of more than $161 million, which was deemed satisfied by an offer of rescission BBPLC made to investors in the unregistered offerings.

Nadex Product Schedule For The Chinese National Daily Golden Week Holidays During The Week Of October 3, 2022

Date 29/09/2022

Due to the Chinese holidays from Monday, October 3, 2022 through Friday, October 7, 2022 for National Day Golden Week, no China 50 contracts will be listed for the week of October 3, 2022.

MIAX Options Exchange - System Enhancement Reminder

Date 29/09/2022

As previously announced in the Aug 29, 2022 Alert, MIAX Options will be implementing the following system enhancements.

Federal Reserve: Senior Credit Officer Opinion Survey On Dealer Financing Terms

Date 29/09/2022

Release Dates 

The Senior Credit Officer Opinion Survey on Dealer Financing Terms (SCOOS) is a quarterly survey providing information about the availability and terms of credit in securities financing and over-the counter (OTC) derivatives markets. The SCOOS is modeled after the long-established Senior Loan Officer Opinion Survey on Bank Lending Practices, which provides qualitative information about changes in supply and demand for loans to households and businesses at commercial banks. The SCOOS collects qualitative information on credit terms and conditions in securities financing and OTC derivatives markets, which are important conduits for leverage in the financial system. The survey panel for the SCOOS began by including 20 dealers and over time has been expanded. These firms account for almost all of the dealer activity in dollar-denominated securities financing and OTC derivatives markets. The survey is directed to senior credit officers responsible for maintaining a consolidated perspective on the management of credit risks. The HTML links below include the full report; the PDF links include the summary only.

SEC Charges Man For Defrauding Investors Out Of Millions Of Dollars By Posing As Hedge Fund Billionaire - Defendant Presented Himself As A Special Forces Veteran And Harvard Grad To Gain Investor Trust

Date 29/09/2022

The Securities and Exchange Commission today charged Justin Costello for using a false persona, as a Harvard-educated military veteran and hedge fund billionaire, to defraud investors out of millions of dollars. The SEC also charged Costello and David Ferraro, an associate of Costello’s, for promoting the stock of several microcap companies on social media without disclosing their own simultaneous stock sales as market prices rose.