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Readout: US Secretary Of The Treasury Janet L. Yellen’s Meeting With The Heads And Private-Sector Leads Of The Multilateral Development Banks To Discuss Climate Finance

Date 22/07/2021

Today, Secretary of the Treasury Janet L. Yellen convened the heads and private-sector leads of several of the multilateral development banks (MDBs) to discuss ways that the MDBs can rapidly align their portfolios with the goals of the Paris Agreement and redouble their efforts to mobilize significantly more private capital for climate. Participants included U.S. Special Presidential Envoy for Climate John Kerry and representatives from the African Development Bank, the Asian Development Bank, the European Bank for Reconstruction and Development, the Inter-American Development Bank Group, and the World Bank Group.   

SEC Halts Alleged Ongoing Offering Fraud Involving Cycling Companies

Date 22/07/2021

The Securities and Exchange Commission today announced an emergency action including a temporary restraining order and asset freeze to stop an alleged fraudulent offering of securities and misappropriation of investor assets by Outdoor Capital Partners LLC and its director Samuel J. Mancini of Denver, Colorado.  The SEC alleges that the defendants made false statements in raising millions of dollars for an investment fund ostensibly to purchase controlling interests in three Italian cycling companies, but never made the acquisitions and instead fraudulently diverted money raised.

U.S. Court Of Appeals Rules In Favor Of CFTC In Fraud Case Against Monex Deposit Company And Its Principals - Ruling Marks CFTC’s Second Win In The Ninth Circuit

Date 22/07/2021

The Commodity Futures Trading Commission today announced that the U.S. Court of Appeals for the Ninth Circuit affirmed a preliminary injunction in the CFTC’s anti-fraud enforcement action against Monex Deposit Company (Monex) and its affiliated companies and principals on July 20. The court’s ruling marks the second time the CFTC has prevailed in the Ninth Circuit in the Monex case.

SIFMA Statement On The PRO Act

Date 22/07/2021

SIFMA submitted written testimony to the Senate Committee on Health, Education, Labor and Pensions regarding “The Protecting the Right to Organize Act” (H.R. 842, S. 420) in conjunction with a hearing held today. The legislation, known as the PRO Act, would change how independent contractor status is determined which could adversely impact hundreds of thousands of independent financial advisors (FAs).

Moscow Exchange: Risk Parameters On Securities Market

Date 22/07/2021

CCP NCC sets the following risk parameters on Securities market starting from 23.07.2021:

SEC Charges California Resident In Microcap Fraud Scheme Targeting Retail Investors

Date 22/07/2021

The Securities and Exchange Commission today announced that it has filed an emergency action charging California resident Charlie Abujudeh with running microcap fraud schemes targeting retail investors.

Texas Public Employee Pension Funds Outwit Pandemic Scare Of 2020

Date 22/07/2021

The pension systems for Texas cities’ firefighters, police and municipal employees scored gains in 2020 despite the peak-to-trough stock market decline of more than 35% during March and April 2020 in response to the Covid-19 pandemic.

SmartFi To Produce First Minable Stablecoin And Payment System Without Transaction Fees - SmartFi USD (SFUSD) Native Protocol Coin And Speculative SmartFi Token (SMTF) Will Provide Payments And Loans Systems And Together Balance The SmartFi Economy

Date 22/07/2021

SmartFi, the compliant, open cryptocurrency platform announces its project to develop the world’s first minable stablecoin. The SFUSD stablecoin will not require a burn-mint protocol or USD-fiat-peg in order to maintain an exact correlation to the US Dollar, using the proprietary SmartFi Commodity Layer Protocol.

The IMF Approves Policy Reforms And Funding Package To Better Support The Recovery Of Low Income Countries From The Pandemic

Date 22/07/2021

• The reforms approved by the IMF’s Executive Board seek to ensure that the Fund can flexibly support Low Income Countries (LICs’) financing needs during the pandemic and the recovery while continuing to provide concessional loans at zero interest rates.
• The centerpiece of the approved policy reforms is a 45 percent increase in the normal limits on access to concessional financing, coupled with the elimination of hard limits on access for the poorest countries. These higher access limits will facilitate the provision of more concessional support to LICs with strong policies and large balance of payments needs.
• The Executive Board also approved a two-stage funding strategy to cover the cost of pandemic-related concessional lending and support the sustainability of the Poverty Reduction and Growth Trust (PRGT). The first stage of the strategy aims to secure SDR 2.8 billion in subsidy resources (to support zero interest rates), and an additional SDR 12.6 billion in loan resources which could be facilitated by the “channeling” of SDRs.

Europex: Feedback On The Draft Climate, Energy And Environmental Aid Guidelines (CEEAG)

Date 22/07/2021

Europex welcomes the opportunity to comment on the draft Climate, Energy and Environmental Aid Guidelines. To ensure that the policy objectives set out in the Green Deal get delivered at least cost and that the EU’s internal market principles are upheld, State Aid rules need to find the right balance between supporting decarbonisation projects and minimising distortion of competition and trade in the Internal Energy Market.