News Centre

New York State Department Of Financial Services Superintendent Lacewell Announces Cybersecurity Settlement With Licensed Insurance Company - DFS Investigation Uncovers National Securities Corporation Failed To Implement Multi-Factor Authentication, Falling Victim To Four Cyber Breaches That Exposed Its Customers’ Private Data

Date 14/04/2021

Superintendent of Financial Services Linda A. Lacewell announced today that National Securities Corporation (“National Securities”) will pay a $3 million penalty to New York State for violations of DFS’s Cybersecurity Regulation that caused the exposure of a substantial amount of sensitive, non-public, personal data belonging to its customers, including thousands of New York consumers. 

US Department Of Justice: Two Charged In High-Risk International Financial Scheme - Allegedly Facilitated More Than $1 Billion In High-Risk Transactions Without Anti-Money Laundering Controls

Date 14/04/2021

An indictment was unsealed today in the Eastern District of New York charging two defendants with failing to maintain anti-money laundering controls, failing to file suspicious activity reports, and operating an unlicensed money transmitting business.

Commissioner Stump To Keynote Speaker At WFE’s Clearing And Derivatives Conference 2021

Date 14/04/2021

April 19, 2021

SEC Charges Felon And Six Others In Oil-And-Gas Offering Fraud

Date 14/04/2021

The Securities and Exchange Commission today charged seven individuals, including criminal recidivist Richard Dale Sterritt, Jr., with defrauding investors through a multimillion dollar oil-and-gas offering fraud and related market manipulation scheme.

The End Of LIBOR: Transitioning To An Alternative Interest Rate Calculation For Mortgages, Student Loans, Business Borrowing, And Other Financial Products, Mark Van Der Weide, General Counsel, Before The Subcommittee On Investor Protection, Entrepreneurship, And Capital Markets, Committee On Financial Services, U.S. House Of Representatives, Washington, D.C.

Date 14/04/2021

Chairman Sherman, Ranking Member Huizenga, and members of the subcommittee, thank you for the opportunity to appear today. My testimony will discuss the importance of ensuring a smooth, transparent, and fair transition away from LIBOR (formerly known as the London interbank offered rate) to more durable replacement rates, as well as some of the challenges posed by this transition. Before I delve into those issues, however, it may be helpful to review how LIBOR is used and why it will be discontinued.

FINRA Statement Regarding Confirmation Of Gary Gensler As SEC Chairman

Date 14/04/2021

We congratulate Gary Gensler on his confirmation as Chairman of the Securities and Exchange Commission. Chairman Gensler brings to the Commission an outstanding record of public service, deep expertise in the functioning of our capital markets, and consistent advocacy for the interests of investors. We look forward to working with Chairman Gensler to advance our shared mission of protecting investors and ensuring market integrity.

– Robert W. Cook, FINRA President and CEO

SIFMA Partners With Texas Southern University On Diverse Talent Pipeline Resource: SIFMA Invest!

Date 14/04/2021

Today, SIFMA and Texas Southern University (TSU) announced the inaugural launch SIFMA Invest! The SIFMA Invest! program and virtual platform offers students enrolled at TSU a myriad of educational, industry research and career development opportunities for those interested in pursuing a career in financial services.

US Treasury, IRS Disburse 2 Million More Economic Impact Payments Under The American Rescue Plan - VA Beneficiaries Bring Total To Approximately 159 Million As Payments Continue

Date 14/04/2021

Today, the U.S. Department of the Treasury, the Internal Revenue Service, and the Bureau of the Fiscal Service announced they are disbursing nearly 2 million payments in the fifth batch of Economic Impact Payments from the American Rescue Plan.

SIFMA Statement On The Confirmation Of Gary Gensler To Serve As Chairman Of The SEC

Date 14/04/2021

SIFMA today released the following statement from Kenneth E. Bentsen, Jr., SIFMA president and CEO, on the Senate confirmation of Gary Gensler as Chairman of the U.S. Securities and Exchange Commission (SEC):

“We congratulate Mr. Gensler on his confirmation as SEC Chairman. Given his deep industry and policy experience, we look forward to working with him on issues of importance to investors, markets and capital formation to promote economic growth and job creation.”

FIA Statement On The US Senate Confirmation Of Gary Gensler To Chair The SEC

Date 14/04/2021

FIA President and CEO Walt Lukken today made the following statement after the US Senate voted to confirm Gary Gensler as Chairman of the Securities and Exchange Commission (SEC):

“FIA congratulates Gary Gensler on his confirmation to lead the SEC in the Biden Administration. Chairman Gensler is an experienced regulator who will bring a wealth of knowledge to a challenging set of issues before the SEC and the financial industry. FIA looks forward to working with Chairman Gensler and his fellow commissioners to support transparent, competitive and soundly regulated financial markets.”