News Centre

Statement On Jury’s Verdict In Trial Of Ambassador Advisors, LLC, Bernard I. Bostwick, Robert E. Kauffman, And Adrian E. Young - Gurbir Grewal, Director, SEC Division Of Enforcement

Date 23/03/2022

Today, after an eight-day trial, a jury serving in the United States District Court for the Eastern District of Pennsylvania ruled in favor of the SEC against Bernard I. Bostwick, Robert E. Kauffman, and Adrian E. Young and their investment advisory firm, Ambassador Advisors, LLC, for breaching fiduciary duties in connection with mutual fund share class selection practices. Previously, the Court found that Ambassador Advisors failed to adopt and implement written policies and procedures reasonably designed to prevent violations of the Investment Advisers Act of 1940.  

Changyong Rhee To Retire As Director Of The IMFs Asia And Pacific Department

Date 23/03/2022

International Monetary Fund (IMF) Managing Director Kristalina Georgieva announced today that Changyong Rhee, Director of the Fund’s Asia and Pacific Department (APD), intends to retire from the Fund in early April. Mr. Rhee will relinquish his role as APD Director immediately, following his nomination as a candidate for Governor of the Central Bank of Korea.

Readout: US Secretary Of The Treasury Janet L. Yellen’s Meeting With Queen Máxima Of The Netherlands

Date 23/03/2022

Today, U.S. Secretary of the Treasury Janet L. Yellen met with Queen Máxima of the Netherlands, who serves as the United Nations Secretary-General's Special Advocate for Inclusive Finance for Development (UNSGSA). Secretary Yellen and Queen Máxima discussed financial inclusion and the importance of expanding financial health and well-being to address household financial resilience in the face of economic and climate shocks both globally and in the U.S. Secretary Yellen commended Queen Máxima’s work to support digital financial inclusion globally, and they discussed the importance of consumer protection and education given the expanding complexity and use of digital financial services and digital assets.

EBA Updates List Of Institutions Involved In The 2022 Supervisory Benchmarking Exercise

Date 23/03/2022

The European Banking Authority (EBA) published today an updated list of institutions, which have a reporting obligation for the purpose of the 2022 EU supervisory benchmarking exercise. The EBA will be conducting the 2022 benchmarking exercise on a sample of 115 banks from 16 countries across the EU and the European Economic Area. The EBA runs this exercise leveraging on established data collection procedures and formats of regular supervisory reporting and assists Competent Authorities in assessing the quality of internal approaches used to calculate risk weighted exposure amounts.

MIAX Options: Extension Of SPIKES Options Market Maker Incentive Program Until June 30, 2022

Date 23/03/2022

MIAX Options has extended the monthly Market Maker Incentive Program (the “Incentive Program”) for SPIKES Options until June 30, 2022.

SIX: Extraordinary Index Adjustments In Conjunction With The Takeover Of Vifor Pharma AG

Date 23/03/2022

Following the takeover of Vifor Pharma AG, SIX will carry out an extraordinary adjustment to the index composition of SLI, SMIM and SPI indices. The affected indices will be adjusted on 31 March 2022.

BIS: Central Banks, The Monetary System And Public Payment Infrastructures: Lessons From Brazil's Pix

Date 23/03/2022

Key takeaways

• Public payment infrastructures build on the central bank's foundational role in the monetary system by promoting competition and interoperability between payment platforms. They can reduce costs for users and promote financial inclusion.
• Brazil's recent experience with the Pix retail instant payment system illustrates the potential gains. In little over a year since its launch in November 2020, Pix has signed up 67% of adults in Brazil, with free payments between individuals and low charges for merchants.
• The two key ingredients in the success of Pix are, first, the mandatory participation of large banks to kick-start network effects for users, and second, the central bank's dual role as infrastructure provider and rule setter.

Bitfinex Derivatives To Launch ApeCoin (APEF0:USTF0) And Gala (GALAF0:USTF0) Perpetual Swap

Date 23/03/2022

Bitfinex Derivatives* offers a derivatives platform accessible through Bitfinex, a state-of-the-art digital token trading platform. Bitfinex Derivatives has today announced the launch of a perpetual contract for ApeCoin (APEF0:USTF0) and Gala (GALAF0:USTF0).

Exegy CEO O’Donnell Named Most Innovative FinTech Exec

Date 23/03/2022

Jim O’Donnell, Chief Executive Officer of Exegy Inc., was named Most Innovative Financial Technology Executive at the A-Team Group 2022 Innovation Awards, announced today.

NGX’s CEO Highlights The Value Of Corporate Governance In Capital Market

Date 23/03/2022

Nigerian Exchange Limited (“NGX”), highlighted the value of sound corporate governance as the foundation that creates transparency and establishes the trust required to keep the global financial system running. He said this during the launch of the Corporate Governance Triangle, an initiative of the Nigerian Bar Association Section on Business Law (NBA-SBL), Nigerian Exchange Limited and the Institute of Directors, Nigeria (IoD) on Tuesday, March 22, 2022.