News Centre

Monetary Authority Of Singapore Releases Results Of Third Mystery Shopping Exercise – Majority Of Recommended Products Met Customers’ Needs

Date 22/06/2021

The Monetary Authority of Singapore (MAS) today released the findings of its third mystery shopping exercise (MSE). Results from the MSE show that majority of product recommendations made by Financial Adviser (FA) representatives met the mystery shoppers’ investment and protection needs.

CalPERS Names Marlene Timberlake D'Adamo Chief Diversity, Equity, And Inclusion Officer

Date 21/06/2021

Chief Executive Officer (CEO) Marcie Frost today announced that CalPERS has named Marlene Timberlake D'Adamo as its first chief diversity, equity, and inclusion officer (CDEIO), effective immediately. Timberlake D’Adamo has been serving dual roles as chief compliance officer and interim chief diversity, equity, and inclusion officer since June of 2020.

US Department Of Justice: Former Deutsche Bank Commodities Trader Sentenced To Prison For Fraud Scheme

Date 21/06/2021

A former commodities trader was sentenced today in the Northern District of Illinois to 12 months and a day in prison for a scheme to commit wire fraud affecting a financial institution.

The Federal Reserve's Response To The Coronavirus Pandemic, Federal Reserve Chair Jerome H. Powell, Before The Select Subcommittee On The Coronavirus Crisis, U.S. House Of Representatives, Washington, D.C.

Date 21/06/2021

Chairman Clyburn, Ranking Member Scalise, and other members of the Select Subcommittee, thank you for the opportunity to update you on our ongoing measures to address the hardship wrought by the pandemic.

Consumer Federation Of America, American Association For Justice And Public Justice Issue Statement On Goldman Sachs Supreme Court Ruling

Date 21/06/2021

The Consumer Federation of America, American Association for Justice and Public Justice issued the following statement today on the U.S. Supreme Court ruling on Goldman Sachs Group, Inc. v. Arkansas Teacher Retirement System, et al:

“We applaud the U.S. Supreme Court for upholding investor rights in its decision in the Goldman Sachs Group, Inc. v. Arkansas Teacher Retirement System, et al. case, rejecting Goldman’s cynical attempt to evade accountability by shifting the burden of proof onto investors. By upholding existing law, with the burden of persuasion firmly on the defendants, the Court’s decision upholds the rights of investors to seek accountability in the future. The consequences of giving Goldman (and other companies) an explicit green light for misconduct would have been devastating for investor confidence in the markets. Should Goldman choose to characterize this a ‘win,’ it will say a great deal about how the company sees foot-dragging and justice deferred for investors as good things.  

SEC Obtains Asset Freeze Against Offshore Fund And Its Operators

Date 21/06/2021

The Securities and Exchange Commission today announced that it has filed an emergency action charging an offshore fund and two individuals with engaging in a fraudulent scheme, and obtained an asset freeze to safeguard remaining investor funds at risk of immediate dissipation.

CFTC Commitments Of Traders Update

Date 21/06/2021

The current reports for the week of June 15, 2021 are now available.

Ontario Securities Commission Takes Action Against Non-Compliant International Crypto Asset Trading Platform Bybit

Date 21/06/2021

The Ontario Securities Commission (OSC) today published a Statement of Allegations against Bybit Fintech Limited (Bybit)  for failing to comply with Ontario securities law. Bybit, incorporated in the British Virgin Islands, is operating an unregistered crypto asset trading platform, encouraging Ontarians to use the platform, and allowing Ontario residents to trade crypto asset products that are securities and derivatives.

ISDA derivatiViews: A Big Jump To The Digital Age

Date 21/06/2021

Derivatives market participants have been enthusiastic advocates for the use of technology, but various pockets of the business – including the documentation and definitions that form the backbone of this market – have proved trickier to shift from a primarily paper-based way of working. We’ve been striving to change that, and last week saw a major step in that journey with the launch of ISDA’s first fully digital definitional booklet.

SEC Issues Whistleblower Awards Totaling Nearly $5.3 Million

Date 21/06/2021

The Securities and Exchange Commission today announced awards of nearly $5.3 million to whistleblowers who provided information and assistance in separate enforcement proceedings.