News Centre

CFTC Unanimously Approves Final Rule At June 4 Open Meeting

Date 04/06/2020

The Commodity Futures Trading Commission at its open meeting today unanimously approved a final rule prohibiting persons from seeking to claim a Commodity Pool Operator (CPO) registration exemption who have, or whose principals have, incurred any of the relevant statutory disqualifications listed in the Commodity Exchange Act (CEA).

Cboe Global Markets Lists For Trading The First Proxy Model, Semi-Transparent ETFs With Fidelity

Date 04/06/2020

• Trio of Fidelity’s active equity ETFs employ an innovative tracking basket methodology
• With launch of these ETFs, Cboe expands the suite of actively managed, semi-transparent ETFs listed on its exchange

MIAX: Approved Rule Change To Amend The FINRA Code Of Arbitration Procedure For Customer Disputes And The FINRA Code Of Arbitration Procedure For Industry Disputes To Apply Minimum Fees To Requests For Expungement Of Customer Dispute Information

Date 04/06/2020

Please refer to the following for details regarding the approved rule change to the FINRA Code of Arbitration Procedures for Customer Disputes and Industry Disputes regarding fees for requests for expungement of customer dispute information.

Quarterly Adjustment Of GPW Benchmark Indices

Date 04/06/2020

GPW Benchmark announces the quarterly adjustment of WIG20, mWIG40, sWIG80 and WIG30 indices portfolios. Changes will come into force after close of business on June 19, 2020.

Opening Statement Of CFTC Commissioner Dan M. Berkovitz Before The Meeting Of The U.S. Commodity Futures Trading Commission

Date 04/06/2020

Liberty and Justice for All

Mr. Chairman, shortly after becoming Chairman of the CFTC you started a new practice where we begin our public meetings by saying the Pledge of Allegiance:

I pledge allegiance to the Flag of the United States of America, and to the Republic for which it stands, one Nation under God, indivisible, with liberty and justice for all.

We recite the pledge and then move on to consider the pending Commission business.

Today, though, we should pause before we move to consider the pending business.  Cries of anguish, anger, and protest ring out from cities across our country, because for too many Americans—particularly Black Americans—there has been too little liberty and too little justice for far too long.  As a nation, we have not fully lived up to the words in the pledge.  Today, we should consider this too.

EBA Starts Delivering On The Implementation Of The New Regulatory Framework For Investments Firms

Date 04/06/2020

• The EBA is strongly committed to implementing the Investment Firms Regulation and Investment Firms Directive (IFR/IFD) where it plays a significant role;
• The EBA will ensure a proportionate implementation of this new framework to take account of the different classes of investments firms.
• The EBA will deliver on its IFR/IFD mandates following a four-phased approach running from 2020 to 2025.

European Commission Helps Shareholder Engagement By Rejecting The Request Led By Financial Intermediaries To Delay The Implementation Of The New Shareholder Rights

Date 04/06/2020

On 29 April 2020 the heads of European and Member State organisations representing individual shareholders across Europe sent an Open Letter to the European Commission (EC) opposing lobbying attempts led by powerful financial intermediaries to postpone the implementation of the Shareholder Rights Directive II (SRD II). Their call has now been heeded.

Statement Of CFTC Commissioner Dan M. Berkovitz Regarding Prohibiting Exemptions From Commodity Pool Operator Registration For Persons Subject To Certain Statutory Disqualifications

Date 04/06/2020

I support today’s final rule to prohibit commodity pool operators (“CPOs”) or their principals who are subject to statutory disqualification under Section 8a(2) from claiming an exemption from registration.  This rule narrows a loophole in our CPO registration framework and strengthens the Commission’s regulations to protect customers and market integrity.

SEC Awards Record Payout Of Nearly $50 Million To Whistleblower - Whistleblower Program Reaches $500 Million In Total Awards

Date 04/06/2020

The Securities and Exchange Commission today announced a nearly $50 million whistleblower award to an individual who provided detailed, firsthand observations of misconduct by a company, which resulted in a successful enforcement action that returned a significant amount of money to harmed investors.  This is the largest amount ever awarded to one individual under the SEC’s whistleblower program. The next largest is a $39 million award to an individual in 2018.  Two individuals also shared a nearly $50 million whistleblower award that same year.

Statement Of CFTC Commissioner Dawn D. Stump Regarding Final Rule Prohibiting Exemptions Under Rule 4.13 On Behalf Of Persons With Certain Statutory Disqualifications

Date 04/06/2020

One of the great strengths of our derivatives markets – today, just as in the past – is their dynamic nature.  These markets are constantly, and often rapidly, evolving in terms of the scope of products traded, the platforms on which those products are traded, and the participants that trade them.  As a result, “one-size-fits-all” rules often turn out not to be a “good fit” at all.