FTSE Mondo Visione Exchanges Index:
News Centre
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ISDA Response To The DSB Consultation Papers 1 And 2 On The UPI Fee Model
Date 13/07/2021
ISDA’s response to the Derivatives Service Bureau (DSB) Consultation Papers on the UPI Fee Model: ‘Industry Views Sought on the Principles Underlying the Fee Model for the Unique Product Identifier Service, submitted 5 March 2021; and Consultation Paper 2 ‘Follow up Proposals on the Principles Underlying the Fee Model for the Unique Product Identifier (UPI) Service – based on Industry Feedback to First Consultation Paper’, submitted 9 July 2021.
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SEC Charges SPAC, Sponsor, Merger Target, And CEOs For Misleading Disclosures Ahead Of Proposed Business Combination Charges Relate To Planned Merger Of Stable Road Acquisition Company And Space Transportation Company Momentus Inc.
Date 13/07/2021
The Securities and Exchange Commission today announced charges against special purpose acquisition corporation Stable Road Acquisition Company, its sponsor SRC-NI, its CEO Brian Kabot, the SPAC’s proposed merger target Momentus Inc., and Momentus’s founder and former CEO Mikhail Kokorich for misleading claims about Momentus’s technology and about national security risks associated with Kokorich. The SEC’s litigation is proceeding against Kokorich, against whom the SEC filed a complaint in the U.S. District Court for the District of Columbia. All other parties are settling with the SEC, with terms including total penalties of more than $8 million, tailored investor protection undertakings, and the SPAC sponsor’s forfeiture of founder’s shares it stands to receive if the merger, currently scheduled for August 2021, is approved.
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DTCC Partners With Ebix To Deliver New Solution To Address Increasing Challenges Of Annuity Compliance - Service To Link Ebix Annuitynet Platform With DTCC’s Producer Management Portal
Date 13/07/2021
The Depository Trust & Clearing Corporation (DTCC), the premier market infrastructure for the global financial services industry, today announced that it is partnering with Ebix, Inc. (NASDAQ: EBIX), a leading international supplier of on-demand software and e-commerce services, to deliver an automated annuity compliance solution to significantly increase efficiency, reduce costs, and lower the risks associated with certifying agent compliance for annuity sales. Under this partnership, the firms will link Ebix’s platform, AnnuityNet, with DTCC’s Producer Management Portal (PMP).
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New York Attorney General James Announces $97 Million In Restitution For TIAA Customers Misled Into Investing In Higher-Fee Accounts - TIAA Relied On Reputation As A “Trusted Partner” And “Objective” Financial Advisor To Pressure Clients Into Paying Hundreds Of Millions In Fees - Victims Of Fraud Included Teachers, Public Sector Employees, Medical Professionals, And Others - AG James And SEC Secure Significant Relief For Investors And Reforms At TIAA
Date 13/07/2021
New York Attorney General Letitia James today announced that TIAA-CREF Individual & Institutional Services, Inc. — a subsidiary of the Teachers Insurance and Annuity Association of America (TIAA) — has agreed to pay $97 million in restitution to tens of thousands of customers who were fraudulently misled into moving their retirement investments into higher-fee accounts offered by the company. Over the course of six years, tens of thousands of customers were pressured by TIAA advisors to move their investments from low-cost, employer-sponsored retirement plans to higher-cost, individually-managed accounts. The program was significantly more expensive for clients and generated hundreds of millions of dollars in fees for TIAA. As part of today’s agreements — which resolve parallel investigations by the Office of the Attorney General (OAG) and the Securities and Exchange Commission (SEC) — TIAA is not only providing significant relief to customers, but has also agreed to undertake significant internal reforms.
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Statement Of CFTC Commissioner Dawn D. Stump Before The Market Risk Advisory Committee - LIBOR Transition Presents Opportunity To Improve U.S. Clients’ Access To Global Clearing Infrastructure
Date 13/07/2021
As derivatives market participants transition from using the London Interbank Offered Rate (LIBOR) to using other benchmarks, namely the Secured Overnight Financing Rate (SOFR), I am pleased that Commodity Futures Trading Commission (CFTC) Acting Chairman Behnam today noted the important work we will soon undertake to ensure that existing clearing mandates for interest rate swaps can transition to preserve their effectiveness. Mandatory clearing is an important element of the post-financial crisis reforms that I wholeheartedly support. And as the use of LIBOR ceases, all of the CFTC’s clearing mandates for interest rate swaps need to be revisited.
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Nodal Exchange Named Exchange Of The Year By Energy Risk For Third Year In A Row
Date 13/07/2021
Nodal Exchange has been named 2021 Exchange of the Year by Energy Risk magazine. The global Energy Risk Awards recognize excellence in energy risk management across the entire supply chain, from producers to traders and consumers, and all firms in between that facilitate risk management.
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US Federal Agencies Request Comment On Proposed Risk Management Guidance For Third-Party Relationships
Date 13/07/2021
The federal bank regulatory agencies today requested public comment on proposed guidance designed to help banking organizations manage risks associated with third-party relationships, including relationships with financial technology-focused entities. The proposed guidance is intended to assist banking organizations in identifying and addressing the risks associated with third-party relationships and responds to industry feedback requesting alignment among the agencies with respect to third-party risk management guidance.
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Moscow Exchange: Risk Parameters Change For The Securities
Date 13/07/2021
The following risk parameters will be changed:
Ticker Minimum Initial Margin for
the Market Risk, % (S_1_min)Minimum Initial Margin for
the Market Risk, % (S_2_min)Minimum Initial Margin for
the Market Risk, % (S_3_min)New value effective for Current value New value Current value New value Current value New value SNGSP 14% 26% 20% 32% 27% 39% 16.07.2021 - 20.07.2021 -
Opening Statement Of CFTC Acting Chairman Rostin Behnam Before The Market Risk Advisory Committee
Date 13/07/2021
Good morning and welcome to the CFTC’s Market Risk Advisory Committee (MRAC or Committee) summer meeting. I want to thank Commissioners Quintenz, Stump, and Berkovitz for joining today’s meeting. I also want to thank and acknowledge the MRAC members and the subcommittee chairs who will present reports today.
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Moscow Exchange Risk Parameters Change On Securities Market - Update
Date 13/07/2021
CCP NCC will set the following risk parameters on Securities market starting from July 14, 2021:
Ticker Ban on short selling Eligible as collateral Market risk rates S_1_min S_2_min S_3_min FXES No No 100% 100% 100%
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