News Centre

Statement Of CFTC Commissioner Kristin Johnson Regarding The CFTC’s Order Imposing $1.186 Billion In Penalties And Required Disgorgement Against Glencore For Manipulation Of Oil Benchmarks

Date 25/05/2022

The Commodity Futures Trading Commission (CFTC) issued an Order filing and settling claims against Glencore International AG, Glencore Ltd., and Chemoil Corporation (Glencore) for violations of the anti-manipulation provisions of the Commodity Exchange Act (Act).  The order requires Glencore to pay $1.186 billion, which includes a civil monetary penalty of $865,630,784 and disgorgement amount of $320,715,066, each being the highest paid in any CFTC case.

The European Association Of CCP Clearing Houses (EACH) Celebrates 30 Years And Elects New Board At Its 2022 AGM

Date 25/05/2022

The EACH General Assembly met on Thursday 19th May and Friday 20th May 2022 to celebrate 30 years working towards an increasingly robust ecosystem of transparent and independent risk management for the benefit of the users of capital markets, therefore promoting safer and more efficient access to financing and hedging opportunities.

BIS: The Limited Power Of Monetary Policy In A Pandemic

Date 25/05/2022

Summary

Focus

We analyse the role played during a pandemic by two monetary policy tools: conventional interest rate policy and forward guidance. We ask two interrelated questions. First, given the environment brought about by the Covid-19 pandemic, should we expect the transmission mechanism of monetary policy to be the same as in normal times? Second, how should monetary policy be optimally conducted in this environment?

New Bond Indices Methodology Is Introduced - Tel Aviv Stock Exchange Continues To Upgrade the Israeli Capital Market and Adjust It with International Standards - Starting On June 30th, 2022 The Bond Indices Will Be Updated Once A Month Instead Of Semi-Annually, This In Line With Common Practices Applied To International Standards And With The TASE’s Equity Indices Methodology

Date 25/05/2022

The Board of Directors of TASE approved in its meeting on May 24th, 2022 the principles of an All New bond Indices Methodology, which will take effect on June 30th, 2022.

Remarks By US Under Secretary For Terrorism And Financial Intelligence Brian Nelson At SIFMA’s Anti-Money Laundering And Financial Crimes Conference

Date 25/05/2022

Good morning—thank you, Ira, for the warm welcome, and thank you to SIFMA for inviting me to speak with you today.

UK Financial Conduct Authority: Jury Discharged In Insider Dealing Trial Without A Verdict

Date 25/05/2022

Having been unable to reach a verdict in a trial at Southwark Crown Court brought by the Financial Conduct Authority (FCA), the jury was discharged. The FCA will now consider whether to seek a re-trial of Stuart Bayes and Jonathan Swann for insider dealing.

BIS: Unconventional Credit Policy In An Economy Under Zero Lower Bound

Date 25/05/2022

Summary

Focus

What is the impact of unconventional credit policy in a zero lower bound environment? We study the effectiveness of unconventional credit policy once the economy reaches the zero lower bound and whether this policy can make it less likely that the economy will reach the zero lower bound.

Bit Origin Limited Intends To Invest In An Operator Of A Cryptocurrency Mining Site In Macon, Georgia - The Company Expects To Obtain 9.49 Megawatts Cryptocurrency Mining Capacity With A Hash Rate Of 316PH/s

Date 25/05/2022

Bit Origin Limited (NASDAQ: BTOG) (“Bit Origin” or the “Company”), an emerging growth company engaged in crypto mining business with diversified expansion strategies, today announced that the Company has entered into a Letter of Intent (“LOI”) to acquire 30.62% equity interest in Horizon Mining Ltd (“HML”), an operator of a crypto mining site located in Macon, Georgia to further facilitate Bit Origin’s strategic development process. The potential acquisition is expected to increase the Company’s cryptocurrency mining capacity by 9.49 megawatts (“MW”) with a hash rate of 316PH/s, which represents approximately 40 Bitcoins would be mined per month at full capacity.

BIS: Covid-19 And Market Power In Local Credit Markets: The Role Of Digitalization

Date 25/05/2022

Summary

Focus

Studying market power is important, as banks with greater market power tend to charge more from consumers. Although there are differences among a country's local credit markets, market power is typically assessed at the national level. The Covid-19 pandemic was an unexpected shock and affected regions differently. Has it changed banks' market power? Compared with more traditional banks, have more digitalised banks improved their positioning in terms of market power during the pandemic?

SEC Halts Alleged Ongoing $39 Million Fraud By Hedge Fund Adviser

Date 25/05/2022

The Securities and Exchange Commission today announced fraud charges against Detroit-based EIA All Weather Alpha Fund I Partners LLC (EIA) and its sole owner, Andrew M. Middlebrooks, for allegedly engaging in a multi-year scheme that included the misappropriation and misuse of investors’ funds. To halt this alleged ongoing fraud, the SEC sought, and on May 19, 2022 obtained, emergency relief from the U.S. District Court in the Eastern District of Michigan, including a temporary restraining order against EIA and Middlebrooks and an asset freeze against the defendants and named relief defendants.