News Centre

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.

Expanded Opening And Intra-day Quote Width Requirements And MIAX Order Monitor Settings For Certain Symbols Trading On MIAX Options And MIAX Emerald Through Friday, December 30, 2022

Date 29/09/2022

MIAX Options and MIAX Emerald have expanded the maximum valid bid/ask differential for Market Makers for certain symbols traded on the Exchanges. The expanded bid/ask differentials will be in effect through Friday, December 30, 2022.

US Federal And State Financial Regulatory Agencies Issue Interagency Statement On Supervisory Practices Regarding Financial Institutions Affected By Hurricanes Fiona And Ian

Date 29/09/2022

The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, the Office of the Comptroller of the Currency, and state financial regulators, collectively the agencies, recognize the serious impact of Hurricanes Fiona and Ian on the customers and operations of many financial institutions and will provide appropriate regulatory assistance to affected institutions subject to their supervision. The agencies encourage institutions operating in the affected areas to meet the financial services needs of their communities.

SEC Monitoring Impact Of Hurricanes Ian And Fiona On Capital Markets

Date 29/09/2022

SEC Chair Gary Gensler has directed the staff to carefully monitor developments as a result of Hurricanes Ian and Fiona. While the safety of local residents is the highest priority, the SEC invites inquiries from any person with obligations under the federal securities laws that may be affected by the storms. The staff will evaluate the appropriateness of providing regulatory relief for those as applicable.