News Centre

ASIC: CBA To Pay $7 Million Court Penalty For Overcharged Interest – Royal Commission Case Study

Date 07/04/2021

The Federal Court of Australia has ordered the Commonwealth Bank of Australia (CBA) to pay a $7 million penalty after the Court had previously declared that CBA made false or misleading representations and engaged in misleading and deceptive conduct (21-025MR).

Readout: US Secretary Of The Treasury Janet L. Yellen’s Briefing With The House Democratic Caucus

Date 07/04/2021

Today, Treasury Secretary Janet L. Yellen briefed the House Democratic Caucus on the state of the economy, the implementation of the American Rescue Plan and President Biden’s newly announced American Jobs Plan. Secretary Yellen noted the American Rescue Plan has put the country on track for full employment by next year and delivered relief to millions of families, including more than 130 million Economic Impact Payments. Secretary Yellen thanked Speaker Nancy Pelosi and the representatives for their support for critical resources in the American Rescue Plan that are essential as the country continues to combat the health and economic crises. Secretary Yellen also discussed the long-term economic challenges the country faces including a declining infrastructure, climate change, wage stagnation and systemic racial inequality. Secretary Yellen noted that government investment in public goods has declined for 40 years and the American Jobs Plan is a once-in-a-generation opportunity to unwind this trend and build a strong, competitive economic future. Secretary Yellen took questions from representatives on a host of topics including the Made in America tax plan that helps pay for investments in America’s infrastructure and ends the race to the bottom on international corporate taxes, the Child Tax Credit, and ways Treasury can work to ensure hard-to-reach communities are receiving resources they need to recover from COVID-19.

SEC Obtains Emergency Asset Freeze, Charges Actor With Operating A $690 Million Ponzi Scheme

Date 07/04/2021

The Securities and Exchange Commission today announced that it obtained an asset freeze and other emergency relief in an emergency enforcement action against Los Angeles-based actor Zachary Horwitz and his company, 1inMM (one in a million) Capital, LLC in connection with an alleged Ponzi scheme that raised over $690 million. Horwitz and 1inMM allegedly told investors that they were buying film rights, purportedly to resell them to Netflix and HBO; in fact, 1inMM actually had no business relationship with either company.

Intercontinental Exchange Reports Revised March And First Quarter 2021 Statistics

Date 06/04/2021

Intercontinental Exchange, Inc. (NYSE:ICE), a leading global provider of data, technology, and market infrastructure, today reported revised March and first quarter 2021 trading volume and related revenue statistics, which can be viewed on the company’s investor relations website at https://ir.theice.com/ir-resources/supplemental-information in the Monthly Statistics Tracking spreadsheet.

Cboe Global Markets Reports March 2021 Trading Volume

Date 06/04/2021

• European Equities ADNV up 9 percent and Global FX ADNV up nearly 4 percent over February 2021
• Options ADV up 18 percent and U.S. Equities – Exchange Matched ADV up nearly 20 percent year-to-date
• In March, Cboe successfully launched trading in Mini-Russell 2000® Index options and U.S. Equities Early Trading Hours

Readout: US Treasury Deputy Secretary Wally Adeyemo Met With the Payments Leadership Council

Date 06/04/2021

Today, Deputy Secretary Wally Adeyemo met virtually with CEOs from seven U.S.-based payment companies and representatives from the Payments Leadership Council (PLC) to discuss the important role electronic payments and financial inclusion play in our economic recovery.  Deputy Secretary Adeyemo reiterated how critical it is that businesses and government work together toward a swift and inclusive economic recovery. In particular, Adeyemo stressed that the recovery must address the economic inequalities that existed before, but have been exacerbated by, the pandemic. Additionally, Deputy Secretary Adeyemo applauded PLC members for working with the Treasury Department to distribute more than 130 million Economic Impact Payments as rapidly as possible, and for devising innovative ways to distribute payments to underbanked and unbanked individuals. The group also discussed how the American Jobs Plan and infrastructure investments, such as access to broadband, will help unlock economic potential.

Nigerian Exchange Limited Offers Free Training To Derivatives Traders

Date 06/04/2021

In preparation for the launch of the Exchange Traded Derivatives (ETDs) Market, Nigerian Exchange (NGX) Limited continues to embark on capacity building exercises for capital market stakeholders. In collaboration with NG Clearing (NGCL) Limited – the Central Counterparty Clearing System for the NGX derivatives market – NGX will host a free training for firms that have applied to participate in the derivatives market on Wednesday, 7 April 2021.

NZX Shareholder Metrics - March 2021

Date 06/04/2021

Please see attached NZX Limited shareholder metrics for March 2021

CFTC Commissioner Stump To Speak At Texas A&M Bitcoin Conference 2021

Date 06/04/2021

ISDA And FIA Respond To The European Commission’s Roadmap Consultation On CSDR

Date 06/04/2021

On April 4, 2021, ISDA and FIA submitted a joint response to the European Commission’s (EC) roadmap consultation on the review of Central Securities Depositories Regulation (CSDR). In the response, the associations outline the need to clarify the scope of the settlement discipline regime with respect to derivatives transactions. In the context of margin transfers and physically settled derivatives, the associations ask the EC to prioritize reforming the settlement discipline regime’s mandatory buy-in rules in the upcoming CSDR review.