News Centre

PCAOB Budget Statement, SEC Commissioner Hester M. Peirce, Dec. 15, 2021

Date 15/12/2021

Thank you, Chair Gensler.  Welcome Acting Chairperson DesParte.  I do not have any questions about the budget, but do have one admonition for you and the rest of the board installed last month by the Securities and Exchange Commission (“SEC”).  Earlier this year, the Commission precipitously fired the Public Company Accounting Oversight Board (“PCAOB”) chairman and told the three remaining board members that, if they wanted to finish out their terms (one of which had only just begun), they had to go through the application process all over again. Those actions incapacitated the PCAOB by leaving it with just one board member for a time.  I voted to reinstate Mr. DesParte and install four new board members so the board could function.  I intend to work with the new board to ensure that the PCAOB fulfills its statutory mandate of promoting informative, accurate, and independent audit reports for public companies and SEC-registered broker-dealers.

Statement On Proposed Money Market Fund Reforms, SEC Commissioner Allison Herren Lee, Dec. 15, 2021

Date 15/12/2021

Today, the Commission is once again proposing reforms for money market funds after once again observing vulnerability in these products during times of financial market stress -- this time during the events in March 2020 at the beginning of the pandemic. The ‘dash for cash’ that occurred at that time put severe stress on these funds and prompted federal intervention in the form of a backstop for the second time in just over a decade.

Statement On Rule 10b5-1 And Insider Trading Proposing Release, SEC Commissioner Hester M. Peirce Dec. 15, 2021

Date 15/12/2021

Thank you, Chair Gensler.  Given our many policy disagreements and—spoiler alert—my resulting dissents on various matters today, I was beginning to feel a bit like the Grinch this holiday season.  Singing in Whoville on Christmas morning caused the Grinch’s heart to grow three sizes that day,[1] but it was my fellow Commissioners’ willingness to collaborate and engage on this release with the help of Renee Jones and her staff and Corey Klemmer on the Chair’s staff that won me over and led me to support this proposal.

SEC Proposes Rules To Prevent Fraud In Connection With Security-Based Swaps Transactions, To Prevent Undue Influence Over CCOs And To Require Reporting Of Large Security-Based Swap Positions

Date 15/12/2021

The Securities and Exchange Commission today voted to propose rules to prevent fraud, manipulation and deception in connection with security-based swaps, to prevent undue influence over the chief compliance officer (CCO) of security-based swap dealers and major security-based swap participants (SBS Entities), and to require any person with a large security-based swap position to publicly report certain information related to the position.

MIAX Options: Business Continuity And Disaster Recovery Plans Testing, Member Designation Standards

Date 15/12/2021

As required by Regulation Systems Compliance and Integrity and MIAX Options Rule 321, which is incorporated by reference into both the MIAX Pearl and MIAX Emerald Exchange Rule Books, and thus applicable to Members of both Exchanges, certain Members of the MIAX Exchanges will have mandatory participation requirements in the annual SIFMA Business Continuity Planning Disaster Recovery (“BC/DR”) test. Please refer to the following for more information on designation standards and requirements for Designated Members.

Moscow Exchange: Risk Parameters Changes For The Securitie RUN-RM, JD-RM And NUE-RM

Date 15/12/2021

Please follow the links below to access the information:

Risk parameters change for the security RUN-RM
Risk parameters change for the security JD-RM
Risk parameters change for the security NUE-RM

SEC Proposes Amendments To Money Market Fund Rules - Proposed Amendments Would Improve The Resilience And Transparency Of Money Market Funds

Date 15/12/2021

The Securities and Exchange Commission today voted to propose amendments to certain rules that govern money market funds under the Investment Company Act of 1940. In March 2020, growing economic concerns about the impact of the COVID-19 pandemic led investors to reallocate their assets into cash and short-term government securities. Prime and tax-exempt money market funds, particularly institutional funds, experienced large outflows, which contributed to stress on short-term funding markets. The Commission’s proposed amendments are designed, in part, to address concerns about prime and tax-exempt money market funds highlighted by these events.

Moscow Exchange: Risk Parameters Change For The Security PGR-RM

Date 15/12/2021

As per the Securities market risk parameters methodology, on 15.12.2021, 19-37 (MSK) the upper bound of the price band (up to 7874) and initial margins (up to 16.25 %) for the security PGR-RM were changed. New values are available here

Finansinspektionen Leaves The Countercyclical Buffer Rate Unchanged

Date 15/12/2021

In accordance with its assessment in the most recent stability report, FI is leaving the countercyclical buffer rate unchanged. The buffer rate of 0 per cent, which was applied starting on 16 March 2020, shall thus continue to apply. The countercyclical buffer guide is set at 0 per cent.

SEC Proposes New Share Repurchase Disclosure Rules - The Proposal Would Establish New Form SR For Reporting Issuer Share Repurchases And Enhance Existing Periodic Disclosure

Date 15/12/2021

The Securities and Exchange Commission today proposed amendments to its rules regarding disclosure about an issuer’s repurchases of its equity securities, often referred to as buybacks.