News Centre

Financial Stability Oversight Council Meeting

Date 25/09/2020

On Friday, September 25, Secretary Mnuchin presided over a meeting of the Financial Stability Oversight Council (Council).

The Dodd-Frank Wall Street Reform and Consumer Protection Act requires the Council to convene no less than quarterly, but the Council has historically convened on a more frequent basis. The meetings bring Council members together to discuss and analyze emerging market developments and financial regulatory issues.  The Council is committed to conducting its business as openly and transparently as practicable, given the confidential supervisory and sensitive information at the center of its work.  Consistent with the Council's transparency policy, the Council opens its meetings to the public whenever possible. 

SEC Issues Two Whistleblower Awards For High-Quality Information Regarding Overseas Conduct

Date 25/09/2020

The Securities and Exchange Commission today announced two separate whistleblower awards for total payments of over $2.5 million. 

CFTC Staff Extends Relief From Certain Reporting Obligations Under The Ownership And Control Reports Final Rule

Date 25/09/2020

The Commodity Futures Trading Commission’s Division of Market Oversight (DMO) today issued a no-action letter that extends current relief from reporting obligations under the ownership and control reports final rule (OCR Final Rule). The OCR Final Rule, approved in 2013, requires the electronic submission of trader identification and market participant data.

June Bug vs. Hurricane:* Whistleblowers Fight Tremendous Odds And Deserve Better, SEC Commissioner Allison Herren Lee, Sept. 23, 2020

Date 25/09/2020

In recent times, it seems that nearly every day has provided us with an opportunity to appreciate the contributions of whistleblowers. Often, they display extraordinary bravery to expose fraud and wrongdoing, and to shine light in some very dark places. In doing so, they reinforce our fundamental values – that the rule of law matters, and no one is, or should be, above the law. All too often, sometimes very publicly and sometimes in the shadows, those whistleblowers face retaliation from the powerful figures they expose. They help create transparency, and from transparency flows crucial accountability. Unfortunately, today’s rules do not serve these individuals well.

CFTC Commitments Of Traders Update

Date 25/09/2020

The current reports for the week of September 22, 2020 are now available.

Statement By The Acting Comptroller Of The Currency Regarding FSOC’s Consideration Of Secondary Mortgage Market Activities

Date 25/09/2020

Acting Comptroller of the Currency Brian P. Brooks made the following statement today at the meeting of the Financial Stability Oversight Council (FSOC) with respect to the FSOC’s activities-based review of secondary mortgage market activities and issuance of a public statement on the subject:

MIAX PEARL Equities Begins Trading In NMS Test Symbols, Live Symbols Will Commence Trading On September 29, 2020

Date 25/09/2020

Miami International Holdings, Inc. (MIH), the parent holding company of the MIAX®, MIAX PEARL® and MIAX Emerald™ exchanges, today announced that it has begun trading in all NMS test symbols on MIAX PEARL Equities™, MIH's first equities exchange. MIAX PEARL Equities will begin live trading Tuesday, September 29, 2020 with its first symbol NTGR (NETGEAR Inc.) and will rollout additional symbols beginning October 2, 2020. With its launch, the MIAX Pearl Equities Exchange joins current options exchanges MIAX Options®, MIAX PEARL and MIAX Emerald as part of the MIAX Exchange Group™.  

New York Attorney General James Sues To Stop Precious Metals Scheme That Defrauded Seniors Out Of Millions

Date 25/09/2020

New York Attorney General Letitia James today announced that she, along with 29 additional states and the U.S. Commodity Futures Trading Commission (CFTC), have filed a lawsuit against Metals.com and a host of other entities and individuals for defrauding seniors across New York and the rest of the nation by soliciting more than $185 million and by charging exorbitant fees for overpriced precious metals. The lawsuit specifically names as defendants TMTE Inc. (also known as Metals.com, Chase Metals Inc., and Chase Metals LLC), Barrick Capital Inc., and Tower Equity LLC, along with the individuals Simon Batashvili and Lucas Asher.

BOX Exchange: Annual SIFMA BCP/ Reg SCI Test – October 24, 2020

Date 25/09/2020

In coordination with other market centers and in support of Regulation SCI, BOX Exchange LLC (“BOX”) will be participating in the annual SIFMA BCP Test on Saturday, October 24, 2020.

Statement Of CFTC Chairman Heath P. Tarbert On FSOC’s Activities-Based Review Of Secondary Mortgage Market Activities

Date 25/09/2020

I am pleased to support the FSOC’s activities-based review of secondary mortgage market activities, and in particular the activities of Fannie Mae and Freddie Mac (collectively, “the GSEs”) as the dominant private secondary market providers of liquidity.  When the GSEs collapsed in the summer of 2009, the American people were left holding the bag.  Furthermore, the subsequent Dodd-Frank Act scarcely mentioned the GSEs—let alone made any attempt to reform them.  Additional legislative attempts were made by both sides of the aisle, but all have failed.  That leaves it to us, the FSOC, to address the potential systemic risk posed by the GSEs.