News Centre

Remarks Before The 2019 AICPA Conference On Current SEC And PCAOB Developments, Nipa Patel Professional Accounting Fellow, Office Of The Chief Accountant

Date 09/12/2019

Good Morning.  It’s a pleasure to be here today to speak with you on a few topics related to audit standard setting.  You have heard from members of the Office of the Chief Accountant (“OCA”) over the years speak to the important role that the independent auditor plays in the financial reporting ecosystem.  An audit of the financial statements enhances the reliability of financial information.  Audit quality, both domestically and internationally, is a critical element driving this continued reliability.  With this in mind, I’d like to spend a few minutes discussing the role of the Commission with regard to PCAOB standard-setting and follow with the existing governance structure for audit-related standard setting[1] at an international level, including its relevance to the U.S. investor community.  

SEC: Jefferies To Pay Nearly $4 Million For Improper Handling Of ADRs

Date 09/12/2019

The Securities and Exchange Commission today announced that broker-dealer Jefferies LLC will pay nearly $4 million to settle charges of improper handling of “pre-released” American Depositary Receipts (ADRs).  

Statement From Federal Reserve Chair Powell On The Death Of Paul A. Volcker

Date 09/12/2019

I am deeply saddened by the passing of Paul Volcker. He believed there was no higher calling than public service. His life exemplified the highest ideals–integrity, courage, and a commitment to do what was best for all Americans. His contributions to the nation left a lasting legacy. My colleagues and I at the Federal Reserve mourn this loss and send our condolences to his family.

EBA Updates Its Guidelines For The Reporting Of Funding Plans

Date 09/12/2019

• The updated guidelines include harmonised definitions and templates that increase comparability and deliver better data quality.
• The changes provide a deeper insight into bank’s funding plans, increase efficiency, facilitate the implementation and reduce reporting costs.
• Proportionality will reduce the reporting burden for small and non-complex institutions.

Statement In Connection With The 2019 AICPA Conference On Current SEC And PCAOB Developments, Sagar Teotia, Chief Accountant, Washington D.C., Dec. 9, 2019

Date 09/12/2019

Background and Role of the Office of the Chief Accountant

The federal securities laws establish the authority of the Securities and Exchange Commission to set accounting, auditing, and independence standards to be followed in the preparation and the audit of general-purpose financial statements of public companies. 

Risk Parameters Change On Securities Market - Update 1

Date 09/12/2019

CCP NCC sets the following risk parameters on Securities market starting from December 11, 2019:

ICBC Credit Suisse, CCB Principal Lead Broadridge’s China Retail Brand Ranking For Sino-foreign JV Fund Firms

Date 09/12/2019

• Brand perception is one of the key success factors for selling funds in China. Although Sino-foreign joint ventures (JVs) generally enjoy good brand recognition, thanks greatly to the influence and relevance of their respective Chinese parents, JV firms have a long way to go to catch up with top pure play Chinese fund managers.

SEC Obtains Touting And Fraud Judgment Against Colorado Cannabis Stock Promoter

Date 09/12/2019

A Colorado stock promoter and two of his companies agreed to pay $4.2 million to settle the U.S. Securities and Exchange Commission's charges for fraudulently promoting and trading a cannabis stock. On Dec. 5, 2019, the U.S. District Court for the District of Colorado entered the final judgment.

Moscow Exchange: Risk Parameters Change On Derivatives Market

Date 09/12/2019

CCP NCC sets the following risk parameters on Derivatives market starting from 7:00 pm on December 10, 2019 for BRENT oil (BR) and Light Sweet Crude Oil (CL) futures:

AccessFintech Partners With Citi, Credit Suisse, Goldman Sachs And J.P. Morgan To Standardise The Industry’s Settlement Workflow

Date 09/12/2019

• AccessFintech’s Global Data Network is evolving the operating models of financial institutions
• Joint industry initiative reduces time for exception resolution, offers better client servicing, minimizes sanctions and reduces costs