News Centre

ISDA Create Extends Online Negotiation To New Documents

Date 18/06/2020

ISDA and Linklaters have announced they will make three new documentation modules available on ISDA Create during 2020. This expansion will allow users to agree additional documents online, bringing further automation and efficiency to the negotiation of derivatives agreements.

Remarks At The 39th Annual Government-Business Forum On Small Business Capital Formation, SEC Commissioner Allison Herren Lee, June 18, 2020

Date 18/06/2020

Good morning and thank you for having me at the 39th annual Government-Business Forum on Small Business Capital Formation. I wish we could all be sitting together in the same room, but I’m grateful that we are able to go forward with the Forum in a virtual environment. I want to thank our Small Business Advocate, Martha Legg Miller, and her staff for putting together this excellent program. Thanks also to all the speakers and panelists for coming together today to share your experiences and insights.

BOX Exchange: Bid-Ask Differentials For Various Symbols Through September 19, 2020

Date 18/06/2020

BOX Exchange LLC (“BOX”), by its authority under the provisions of BOX Rule 8040, has temporarily established modified bid-ask differentials for the following option classes. The below Market Maker quote width requirements will be effective through September 19, 2020 unless withdrawn by BOX prior to that time.

SEC: Welcome Remarks At The SEC’s 39th Annual Small Business Forum, Martha Miller, Advocate For Small Business Capital Formation, June 18, 2020

Date 18/06/2020

Welcome and thank you for sharing your afternoon with us at this year’s Small Business Forum.

The theme of this year’s Forum is “Access to Capital: More Critical Now Than Ever.” Our team in the Office of the Advocate for Small Business Capital Formation is immersed in addressing the challenges that 2020 has brought to small businesses and their investors. Small businesses are currently in a state of crisis, with many abruptly shutting their doors this spring in response to COVID-19. While Congress has provided relief through several legislative measures, the consensus among many is that public assistance will not be enough. Effective pathways for investors to support small businesses’ capital needs are more critical now than ever to help businesses weather the current environment, to rebuild, and to continue to create the companies we depend on for the future. The Commission’s recent temporary crowdfunding relief is one example of how your feedback has been put into action. We need your input on what you think is needed to support our capital markets, both short-term and long-term.

The Updated Coefficients For Moscow Exchange Indices To Come Into Force

Date 18/06/2020

The following coefficients for Moscow Exchange indices come into force from June 19, 2020:

Federal Reserve: Senior Credit Officer Opinion Survey On Dealer Financing Terms

Date 18/06/2020

The Senior Credit Officer Opinion Survey on Dealer Financing Terms (SCOOS) is a quarterly survey providing information about the availability and terms of credit in securities financing and over-the counter (OTC) derivatives markets. The SCOOS is modeled after the long-established Senior Loan Officer Opinion Survey on Bank Lending Practices, which provides qualitative information about changes in supply and demand for loans to households and businesses at commercial banks. The SCOOS collects qualitative information on credit terms and conditions in securities financing and OTC derivatives markets, which are important conduits for leverage in the financial system. The survey panel for the SCOOS began by including 20 dealers and over time has been expanded. These firms account for almost all of the dealer activity in dollar-denominated securities financing and OTC derivatives markets. The survey is directed to senior credit officers responsible for maintaining a consolidated perspective on the management of credit risks. The HTML links below include the full report; the PDF links include the summary only.

Nigerian Stock Exchange Records Positive Growth In Market Turnover

Date 18/06/2020

The Nigerian Stock Exchange (NSE or The Exchange) recorded an 11% increase on the average daily turnover on Wednesday, 17 June 2020 when compared to the same period in 2019 recording N3.93 Billion and N3.52 Billion respectively. Significant growth has also been recorded in the Premium Board category with a 28.6% increase in volume traded up from 50.04 million in 2019 to 64.39 million in 2020.

OECD Secretary-General Angel Gurría Has Reacted To Recent Statements And Exchanges Regarding The Ongoing Negotiations To Address The Tax Challenges Of The Digitalisation Of The Economy

Date 18/06/2020

“Addressing the tax challenges arising from the digitalisation of the economy is long overdue,” said OECD Secretary-General Angel Gurría. “All members of the Inclusive Framework should remain engaged in the negotiation towards the goal of reaching a global solution by year end, drawing on all the technical work that has been done during the last three years, including throughout the COVID-19 crisis. Absent a multilateral solution, more countries will take unilateral measures and those that have them already may no longer continue to hold them back. This, in turn, would trigger tax disputes and, inevitably, heightened trade tensions. A trade war, especially at this point in time, where the world economy is going through a historical downturn, would hurt the economy, jobs and confidence even further. A multilateral solution based on the work of the 137 members of the Inclusive Framework at the OECD is clearly the best way forward,” Mr Gurría said.

Mandated in 2018 by the G20 to deliver a consensus based solution by the end of 2020, the OECD has gathered 137 countries on an equal footing for the negotiations and has developed a two pillar approach, to be discussed in the following weeks leading up to a meeting of the Inclusive Framework in October 2020.

Federal Reserve Announces FraudClassifier Model To Help Organizations Classify Fraud Involving Payments

Date 18/06/2020

The Federal Reserve today published the FraudClassifier model—a set of tools and materials to help provide a consistent way to classify and better understand the magnitude of fraudulent activity and how it occurs across the payments industry. The model was developed by the Fraud Definitions Work Group, which was comprised of Federal Reserve and payments industry fraud experts.

Finansinspektionen: JAK Medlemsbank Receives A Remark And An Administrative Fine

Date 18/06/2020

JAK Medlemsbank (JAK) has been deficient in its work to prevent money laundering and terrorist financing. The bank is therefore being issued a remark and must pay an administrative fine of SEK 1.6 million.