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Statement On Third Meeting With Audit Firm Representatives Regarding Audit Quality In Emerging Markets And Recent Developments, SEC Chairman Jay Clayton, SEC Chief Accountant Sagar Teotia, PCAOB Chairman William D. Duhnke III, Nov. 24, 2020

Date 24/11/2020

Background

Over the past several years, the exposure of U.S. investors and our capital markets to companies with significant operations in emerging markets, including China, has increased. This increased exposure carries with it a number of significant risks and challenges, many of which we described in our statement of December 7, 2018 and our more recent joint statement along with other SEC staff, Emerging Market Investments Entail Significant Disclosure, Financial Reporting and Other Risks; Remedies are Limited, on April 21, 2020.

CFTC Staff Grants Temporary Relief To DTCC Data Repository LLC And Related Entities from Reporting Requirements

Date 24/11/2020

The Commodity Futures Trading Commission’s Division of Data (DOD) today granted temporary no-action relief to DTCC Data Repository LLC (DDR) from certain requirements of the swaps data repository (SDR) rules in Part 49 of the CFTC’s regulations. The relief is also extended to registered entities and swap counterparties reporting swaps data to DDR from certain requirements of the swaps data reporting rules in Parts 45 and 46 of the CFTC’s regulations.

Plutus Reaches 36.6% Overall Monthly Growth For Crypto Card Requests

Date 24/11/2020

Demand for Plutus Visa Cards has reached record-breaking growth and adoption in the UK. 

CFTC Approves Transfer Of Minneapolis Grain Exchange’s Contract Market Designation In Connection With Acquisition By Miami International Holdings - Parties Target December 4, 2020 Closing

Date 24/11/2020

Miami International Holdings, Inc. (MIH), the parent holding company of the MIAX Exchange Group™, and the Minneapolis Grain Exchange, Inc. (MGEX), a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO), today announced that in connection with MIH’s anticipated acquisition of MGEX, the Commodity Futures Trading Commission (CFTC) has approved the transfer of MGEX’s Contract Market Designation to Minneapolis Grain Exchange, LLC, an entity created for purposes of the transaction.

Moscow Exchange: Risk Parameters Change For The Security OZON

Date 24/11/2020

As per the Securities market risk parameters methodology, on 24.11.2020, 21-33 (MSK) the upper bound of the price band (up to 3 671 rub.) and initial margins for the security OZON were changed. New values are available here

Opening Doors for Gig Workers to Receive Stock Compensation: SEC Commissioner Hester M. Peirce, SEC Commissioner Elad L. Roisman, Nov. 24, 2020

Date 24/11/2020

Today the Commission voted to propose rules that, on a trial basis, would allow public and private companies to offer equity compensation to their gig workers.  Taking a cue from the flexibility that the gig economy provides to its platform workers, the proposal demonstrates the Commission’s willingness to open the door to opportunities for gig workers to participate in the growth of the companies that sign their checks.  As our economy and work arrangements evolve, we must be willing to experiment with concomitant changes to our regulations.

Moscow Exchange: Risk Parameters Change For The Security XOM-RM

Date 24/11/2020

As per the Securities market risk parameters methodology, on 24.11.2020, 21-14 (MSK) the upper bound of the price band (up to 3305) and initial margins (up to 21 %) for the security XOM-RM were changed. New values are available here

Joint Statement On The Proposal To Facilitate Non-Cash Compensation For Certain Gig Workers: SEC Commissioner Allison Herren Lee, SEC Commissioner Caroline A. Crenshaw, Nov. 24, 2020

Date 24/11/2020

A broad swath of companies in the U.S. now rely on workers who are not treated as traditional employees. Indeed, depending on how you define the term, alternative or contingent workers may make up as much as 40 percent of the workforce. Today the Commission singles out one narrowly-defined subset of companies who depend on these workers—companies that provide services through internet platforms—and proposes to create a new exemption from traditional registration requirements just for them. The proposed exemption would expressly permit these internet platform companies, and only these internet platform companies, to pay a portion of compensation to alternative workers with equity in the company rather than cash. Whatever the potential merits of equity compensation for alternative workers, the proposal does not establish a basis for selectively conferring a benefit on this particular business model. Consequently, we cannot support it.

Moscow Exchange: Risk Parameters Change For The Security DIS-RM

Date 24/11/2020

As per the Securities market risk parameters methodology, on 24.11.2020, 20-42 (MSK) the upper bound of the price band (up to 11979) and initial margins (up to 17.5 %) for the security DIS-RM were changed. New values are available here

SEC Proposes Temporary Rules To Facilitate Measured Participation By Certain "Platform Workers" In Compensatory Offerings Under Rule 701 And Form S-8

Date 24/11/2020

The Securities and Exchange Commission today voted to propose rules that, on a temporary basis and subject to percentage limits (no more than 15% of annual compensation), dollar limits (no more than $75,000 in three years) and other conditions, would permit an issuer provide equity compensation to certain "platform workers" who provide services available through the issuer's technology-based platform or system.