News Centre

ASIC Extends Temporary Financial Advice Relief Measure In COVID-19 Instrument

Date 15/04/2021

ASIC has today announced that it will extend one of three temporary relief measures designed to help the financial advice industry provide consumers with affordable and timely advice during the COVID-19 pandemic. 

Rethinking Global ESG Metrics, SEC Commissioner Hester M. Peirce, April 14, 2021

Date 14/04/2021

Many advocates behind the global environmental, social, and governance movement argue that prosperity alone is not a sufficient measure of society’s progress, a position that I believe is unassailable. The challenge we face in addressing the ever-increasing number of issues underlying E, S, and G is daunting. The task before us is to find a way to bring about lasting, positive change to our countries on a range of issues without sacrificing in the process the very means by which so many lives have been enriched and bettered. Accordingly, a shared desire to address these and other societal problems should compel us to rethink our prescriptive approach to ESG and instead find ways to encourage our most precious resource—our people—to devise solutions to the climate-related and other challenges our societies face.

The Federal Reserve's New Framework And Outcome-Based Forward Guidance, Vice Chair Richard H. Clarida, At "SOMC: The Federal Reserve’s New Policy Framework" A Forum Sponsored By The Manhattan Institute's Shadow Open Market Committee, New York, New York (Via Webcast)

Date 14/04/2021

On August 27, the Federal Open Market Committee (FOMC) unanimously approved a revised Statement on Longer-Run Goals and Monetary Policy Strategy, and, at its September and December FOMC meetings, the Committee made material changes to its forward guidance to bring it into line with this new policy framework. Before I discuss the new framework and the policy implications that flow from it, I will first review some important changes in the U.S. economy that motivated the Committee to assess ways we could refine our strategy, tools, and communication practices to achieve and sustain our goals in the economy in which we operate today and for the foreseeable future.

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.