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CFTC: Federal Court Orders Alabama Company And Its Owner To Pay Over $1.1 Million For Commodity Pool Fraud
Date 07/04/2021
The Commodity Futures Trading Commission today announced that Judge Liles C. Burke of the U.S. District Court for the Northern District of Alabama entered a default judgment against Negus Capital Incorporated (NCI) of Muscle Shoals, Alabama finding that it, through its owner Aaron B. Butler, engaged in fraudulent solicitation, misappropriation, and registration violations in connection with binary options trading.
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US Treasury Secretary Janet Yellen Pens Op-Ed In Wall Street Journal
Date 07/04/2021
Today, in an op-ed to be published in the April 8, 2021, edition of The Wall Street Journal, Secretary Janet L. Yellen called for an end to the global race to the bottom on corporate taxes. This is also a provision of the Made in America Tax Plan, a part of President Biden’s American Jobs Plan, that will accelerate American competitiveness.
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Moscow Exchange: Risk Parameters Change On Securities Market
Date 07/04/2021
CCP NCC is changing the following risk parameters on Securities market starting from April 8, 2021.
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Statement Of Commissioner Dan M. Berkovitz Related To Review Of ErisX Certification Of NFL Futures Contracts - Sports Event Contracts: No Dice Unless There Is An Economic Purpose And The Exchange Is Open To The Public
Date 07/04/2021
Executive Summary: The Commission should permit a designated contract market (DCM) to list contracts on sporting events that are designed to hedge the risks of commercial activity related to those events, including legalized sports bookmaking. However, the proposal (withdrawn) by Eris Exchange (ErisX) to list contracts based on the outcome of football games was deficient because: (1) ErisX did not provide sufficient evidence of hedging utility; and (2) ErisX’s proposed exclusion of the general public from trading the contract on the DCM would violate DCM Core Principles and CFTC regulations regarding impartial access (Core Principle 2) and antitrust considerations (Core Principle 19). A DCM cannot exclude retail participants. Core Principle 2 prohibits a DCM from imposing discriminatory access criteria on the basis of net worth, as ErisX has proposed. Core Principle 19 requires a DCM to not impose any material anticompetitive burden on trading. ErisX’s proposed sporting event contracts are functionally identical to the sports bets offered by bookmakers to the general public, and are designed so that sports bookmakers may use the exchange to hedge the risks arising from selling those contracts to the public. It would be anticompetitive to allow bookmakers to trade these contracts on the exchange so they can sell them to the public at casinos, racetracks, and other betting establishments, while at the same time prohibiting the public from obtaining those contracts through open, transparent, competitive trading on the exchange. Although contracts involving gaming should be permitted to be traded on a DCM if they have an economic purpose, which may include hedging by sports bookmakers, gaming contracts without any such economic purpose should not be permitted on a DCM.
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U.S. Department Of The Treasury Releases Made In America Tax Plan Report
Date 07/04/2021
Today, the U.S. Department of the Treasury released the Made in America Tax Plan Report to provide additional depth on the plan first announced last week as part of President Biden’s American Jobs Plan, a comprehensive proposal aimed at increasing investment in infrastructure, the production of clean energy, the care economy, and other priorities.
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IMF Launches Climate Change Indicators Dashboard
Date 07/04/2021
The International Monetary Fund (IMF) today launched a new Climate Change Indicators Dashboard—an international statistical initiative to address the growing need for data in macroeconomic and financial policy analysis to facilitate climate change mitigation and adaptation.
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The Saudi Stock Exchange (Tadawul) Announces Its Transformation Into A Holding Company (Saudi Tadawul Group) In Preparation For IPO
Date 07/04/2021
The Saudi Stock Exchange (Tadawul) today announced its transformation into a group structure, and reinforcing its capabilities in technology innovation. This transformation marks a new chapter in the Group's history and signals its readiness for the IPO in 2021. -
ESMA Publishes Final Report On SME Growth Markets
Date 07/04/2021
The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has today published its Final Report on the functioning of the regime for SME Growth Markets (GM) under MiFID/MiFIR. It contains recommendations and possible amendments to the MiFID II framework to the SME GM regime which are needed to improve the attractiveness of the regime.
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ESAs Publish Joint Annual Report For 2020
Date 07/04/2021
The Joint Committee of the European Supervisory Authorities (ESAs) – EBA, EIOPA and ESMA – published today its 2020 Annual Report, providing a detailed account of all the joint work completed over the past year.
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Spanish Now Available On Bitfinex
Date 07/04/2021
Bitfinex, a state-of-the-art digital token trading platform, is now available in Spanish, providing greater accessibility for the exchange’s growing base of Spanish speaking customers.
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