News Centre

Better Advice Act Broadens ASIC’s Regulatory Responsibilities

Date 02/11/2021

• ASIC’s responsibilities in respect of the financial advice industry will be broadened under the Better Advice Act.
• From 1 January 2022, the role of the FSCP will be expanded and ASIC will take on the administration of the financial adviser exam. From 1 January 2023 all financial advisers must be registered
• ASIC will continue to work closely with Treasury, FASEA and the TPB to ensure a smooth transition of functions.

President’s Working Group Report On Stablecoins, SEC Chair Gary Gensler, Nov. 1, 2021

Date 01/11/2021

Today, the President’s Working Group on Financial Markets (PWG), along with the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency, published a thoughtful report on stable value coins, or so-called stablecoins.

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

Date 01/11/2021

As per the Securities market risk parameters methodology, on 01.11.2021, 23-31 (MSK) the upper bound of the price band (up to 12895) and initial margins (up to 18.75 %) for the security CLX-RM were changed. New values are available here

President’s Working Group On Financial Markets Releases Report And Recommendations On Stablecoins - Report Outlines Regulatory Framework For Stablecoins And Pathways To Address Risks

Date 01/11/2021

Today, the President’s Working Group on Financial Markets (PWG), joined by the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC), released a report on stablecoins.  Stablecoins are a type of digital asset generally designed to maintain a stable value relative to the U.S. dollar. While today stablecoins are primarily used to facilitate trading of other digital assets, stablecoins could be more widely used in the future as a means of payment by households and businesses.

Statement By The US Acting Comptroller Of The Currency On The Report On Stablecoins

Date 01/11/2021

Acting Comptroller of the Currency Michael J. Hsu issued the following statement on release of the Report on Stablecoins by the President's Working Group on Financial Markets, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency:

SIFMA’s Board Of Directors Announces Newly Elected Officers

Date 01/11/2021

The Board of Directors of SIFMA announced it has elected the following principal officers to leadership positions on the Board for 2022:

ISDA: Transition To RFRs Review: Third Quarter Of 2021 And Year-To-September 30, 2021

Date 01/11/2021

The Transition to Risk-free Rates (RFRs) Review analyzes the trading volumes of over-the-counter (OTC) and exchange-traded interest rate derivatives (IRD) that reference selected alternative RFRs, including the Secured Overnight Financing Rate (SOFR), the Sterling Overnight Index Average, the Swiss Average Rate Overnight, the Tokyo Overnight Average Rate, the Euro Short-Term Rate and the Australian Overnight Index Average.

SIFMA Statement On SEC Disapproval Of CAT Limitation Of Liability Proposal

Date 01/11/2021

SIFMA today issued the following statement from president and CEO Kenneth E. Bentsen, Jr. on the SEC’s disapproval of the CAT limitation of liability proposal:

“SIFMA believes the SEC’s rejection of the amendment proposed by the national exchanges to revise the Consolidated Audit Trail (CAT) Reporter Agreement to insert limitation of liability provisions was the right outcome.  The proposal would have unfairly shifted liability for CAT data breaches to the broker-dealer industry.   It was inappropriate and unfair for the SROs to unilaterally impose limits on their liability when they alone hold and control the data inside the CAT.  SIFMA’s guiding principle has long been ‘they who hold the data bear the liability’ and we strenuously opposed efforts to shield responsibility for maintaining the security and privacy of such data.  We appreciate the SEC’s recognition that the SROs did not meet their burden to demonstrate that the Proposed Amendment is consistent with the Exchange Act."

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

Date 01/11/2021

As per the Securities market risk parameters methodology, on 01.11.2021, 22-58 (MSK) the upper bound of the price band (up to 92583) and initial margins (up to 32.5 %) for the security TSLA-RM were changed. New values are available here

Ontario Securities Commission Announces Initiatives To Strengthen Financial Literacy During Financial Literacy Month

Date 01/11/2021

The Ontario Securities Commission (OSC) will mark Financial Literacy Month this November with a variety of activities designed to build the financial knowledge of Ontarians and highlight the importance of financial literacy.