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US Federal Agencies Issue Three Final Rules

Date 26/08/2020

The federal bank regulatory agencies today finalized three rules, which are either identical or substantially similar to interim final rules currently in effect that were issued earlier this year.
SEC Halts Fraudulent Offering By Florida Investment Adviser

Date 26/08/2020

The Securities and Exchange Commission today announced that it has filed an emergency action against Florida-based investment adviser Coral Gables Asset Management LLC and its sole owner, David C. Coggins, in connection with an alleged fraudulent offering. On Aug. 20, 2020, U.S. District Court Judge Kathleen M. Williams granted the SEC's request for emergency relief, including an asset freeze and an order for records preservation, against Coggins and Coral Gables, as well as two entities charged by the SEC as relief defendants.
SEC Adopts Rule Amendments To Modernize Disclosures Of Business, Legal Proceedings, And Risk Factors Under Regulation S-K

Date 26/08/2020

The Securities and Exchange Commission today announced that it voted to adopt amendments to modernize the description of business (Item 101), legal proceedings (Item 103), and risk factor disclosures (Item 105) that registrants are required to make pursuant to Regulation S-K. These disclosure requirements have not undergone significant revisions in over 30 years. The amendments the Commission is adopting today update these items to reflect the many changes in our capital markets and the domestic and global economy in recent decades.
FTSE UK Index Series – Indicative Quarterly Review Changes September 2020

Date 26/08/2020

FTSE Russell, the global index provider, advises of the following indicative changes to the FTSE 100 and FTSE 250, based on data as at Friday 21 August.
Going Negative: The ECB’s Experience - Speech By Isabel Schnabel, Member Of The Executive Board Of The ECB, At The Roundtable On Monetary Policy, Low Interest Rates And Risk Taking At The 35th Congress Of The European Economic Association

Date 26/08/2020

In June 2014, the ECB was the first major central bank to lower one of its key interest rates into negative territory. As experience with negative interest rates was scant, the ECB proceeded cautiously over time, lowering the deposit facility rate (DFR) in small increments of 10 basis points, until it reached -0.5% in September 2019. While negative interest rates have, over time, become a standard instrument in the ECB’s toolkit, they remain controversial, both in central banking circles and academia.

Statement At Open Meeting On Modernization Of Regulation S-K 101, 103, And 105, SEC Commissioner Hester M. Peirce, Aug. 26, 2020

Date 26/08/2020

Today’s final amendments to the description of business, legal proceedings, and risk factor disclosure requirements are common sense reforms that continue the Commission’s efforts to modernize, simplify, and update public company disclosure requirements. The release represents another step in the right direction by making the rules more principles-based and rooted in materiality, which provides registrants with sufficient flexibility to tailor disclosures to their unique circumstances.
The Pandemic’s Effect On The Economy And Banking, Federal Reserve Governor Michelle W. Bowman, At The Kansas Bankers Association CEO And Senior Management Forum/Annual Meeting, Topeka, Kansas (Via Webcast)

Date 26/08/2020

Good afternoon. It's great to be with you, and I look forward to our discussion. As you all know, the COVID-19 pandemic has caused significant disruption and hardship in nearly every aspect of our lives, and it continues to weigh heavily on our national economy, which is why it will be the central focus of my remarks here today. Let me set the stage for our discussion by outlining the economic effects of the pandemic most relevant to the banking sector, describing the Federal Reserve's response to the crisis, and then making some observations about conditions for smaller banks.
Regulation S-K And ESG Disclosures: An Unsustainable Silence, SEC Commissioner Allison Herren Lee, Aug. 26, 2020

Date 26/08/2020

Let me start with a warm welcome to our newest colleague, Commissioner Crenshaw. She has been a tremendous asset to the Commission for many years, and I know that she will continue to serve the agency, investors, and the public with great distinction. I also want to thank the staff for their hard work on today’s rule. They’ve done exemplary work under trying circumstances, and I am, as always, grateful.
Moscow Exchange: Risk Parameters Change For The Security NFLX-RM

Date 26/08/2020

As per the Securities market risk parameters methodology, on 26.08.2020, 19-22 (MSK) the upper bound of the price band (up to 43157) and initial margins (up to 28.75 %) for the security NFLX-RM were changed. New values are available here
Statement On The “Modernization” Of Regulation S-K Items 101, 103, And 105, SEC Commissioner Caroline Crenshaw

Date 26/08/2020

Good morning, and thank you to the Chairman, my fellow Commissioners, and to the staff for helping me get up to speed on this rule in my first week and a half on the job. Thank you also to the staff for your dedication and hard work.[1] I have worked with some of you for many years now, and I appreciate your thoughtfulness and your unwavering dedication to the Commission’s mission.