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  • CFTC: Federal Court Orders Trading Advisor To Pay $890,000 For Defrauding Church And Community Members In Forex Scheme

    Date 11/06/2020

    The Commodity Futures Trading Commission today announced that the U.S. District Court for the Southern District of New York entered a consent order for permanent injunction and other equitable relief against defendant Brett G. Hartshorn of Sarasota, Florida, finding, among other things, that he fraudulently solicited at least 13 individuals to trade off-exchange foreign currency derivatives (“forex”) and misappropriated funds of at least two of those clients. 

  • IMF Executive Board Approves An Additional US$111.06 Million Disbursement To Rwanda To Address The COVID-19 Pandemic

    Date 11/06/2020

    • The IMF approved US$111.06 million (SDR80.1 million), a second disbursement under the Rapid Credit Facility (RCF) bringing the total IMF COVID-19 emergency support to Rwanda to US$ 220.46 million to help urgent balance of payment needs stemming from the pandemic.
    • Rwanda’s economy has been severely impacted by the COVID-19 pandemic with weaker domestic demand losses of revenue, and a sharp decline in exports and remittances.
    • The additional resources under the RCF will help alleviate pressing financing needs, including for health, social protection, and supporting the most impacted sectors and vulnerable groups.

  • Peter Ryan Joins SIFMA As Head Of International Capital Markets And Prudential Policy

    Date 11/06/2020

    SIFMA today announced Peter J. Ryan has been appointed managing director and head of international capital markets and prudential policy.

    In this newly created role, he will be responsible for coordinating SIFMA actions on international capital markets and prudential issues, including engagement with global standard setters and domestic implementation of those standards.  Dr. Ryan will also be responsible for supporting advocacy activities related to global institutions operating in the U.S.


  • Statement Of CFTC Chairman Heath P. Tarbert On The European Commission’s Draft Delegated Acts

    Date 11/06/2020

    Commodity Futures Trading Commission Chairman Heath P. Tarbert issued the following statement in response to the three draft Delegated Acts published by the European Commission (EC) addressing the supervisory oversight of third-country central counterparties (TC-CCPs) by the European Securities and Markets Authority (ESMA), including by specifying the criteria to be applied by ESMA when determining a TC-CCP’s systemic importance to the financial stability of the European Union or one or more Member States:

    “The CFTC welcomes the EC’s proposals published today, which are a positive step in the EU’s implementation of its amended regime for CCP regulation. Mindful of the objectives and responsibilities of the EU authorities tasked with monitoring risks to EU financial stability, today’s proposals balance the fulfillment of those objectives and responsibilities with deference and international comity as to home country supervision of U.S.-based derivatives clearing organizations operating in Europe. "

  • Ontario Securities Commission Publishes Investigative Report Of QuadrigaCX - Report Outlines What Happened To Client Assets And Provides Regulatory Considerations For Investors And Crypto Asset Platform Operators

    Date 11/06/2020

    A Panel of the Ontario Securities Commission (OSC) has authorized the publication of an investigative report, in the form of a review by OSC Staff, of the crypto asset trading platform QuadrigaCX (Quadriga).