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UK Financial Conduct Authority To Ban Promotion Of Speculative Mini-Bonds To Retail Consumers

Date 26/11/2019

The Financial Conduct Authority (FCA) has today announced it will ban the mass marketing of speculative mini-bonds to retail customers.
Notice Of Publicly Soliciting Opinions On “Shanghai Stock Exchange Implementation Measures On Shanghai-Hong Kong Stock Connect Business (2nd Amendment In 2019, Draft For Comment)”

Date 26/11/2019

According to the joint announcement on implementing the southbound investors identification code system of Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect released by the China Securities Regulatory Commission and the Securities and Futures Commission of Hong Kong and relevant arrangement, the Shanghai Stock Exchange (SSE) plans to amend the “SSE Implementation Measures on Shanghai-Hong Kong Stock Connect Business” and add relevant articles (see attachment). It hereby solicits opinions from the public, and the deadline for submitting feedbacks is November 6, 2019.
Building On The Gains From The Long Expansion, Federal Reserve Chair Jerome H. Powell, At The Annual Meeting Of The Greater Providence Chamber Of Commerce, Providence, Rhode Island

Date 26/11/2019

Over the past year, my colleagues and I on the Federal Open Market Committee (FOMC) have been conducting a first-ever public review of how we make monetary policy. As part of that review, we held Fed Listens events around the country where representatives from a wide range of groups have been telling us how the economy is working for them and the people they represent and how the Federal Reserve might better promote the goals Congress has set for us: maximum employment and price stability. We have heard two messages loud and clear. First, as this expansion continues into its 11th year—the longest in U.S. history—economic conditions are generally good. Second, the benefits of the long expansion are only now reaching many communities, and there is plenty of room to build on the impressive gains achieved so far.
Trading Technologies Launches Colocated Access To Thailand Futures Exchange

Date 26/11/2019

Trading Technologies International, Inc. (TT), a global provider of high-performance professional trading software, infrastructure and data solutions, and the Thailand Futures Exchange (TFEX) today announced the launch of colocated execution and client connectivity services to TFEX, connecting via the exchange’s proprietary EMAPI API from within TFEX’s SET Data Center in Bangkok.
Nadex Adjusts Strike Width For Its Crude Oil Binary Contracts

Date 25/11/2019

Pursuant to Section 5c(c)(1) of the Commodity Exchange Act and Commission Regulation §40.6(d)(2)(iv), Nadex is providing notice that due to increased volatility in the underlying markets upon which the Nadex US Indices contracts are based, Nadex adjusted the strike width for its Daily Crude Oil Binary contracts from 0.1 to 0.2 and in its Intraday Crude Oil Binary contracts from 0.2 to 0.1. Additionally, the number Intraday Crude Oil Binary contracts was increased from 9 strikes to 19 strikes. The changes began on November 25, 2019 and are planned to continue through November 29, 2019.

ASIC Outlines Approach To Advice Licensee Obligations For The Financial Adviser Code Of Ethics

Date 25/11/2019

As announced on 14 November 2019, ASIC has taken action to provide certainty to Australian financial services (AFS) licensees that they will not be in breach of the law because their financial advisers were not able to register with an ASIC-approved compliance scheme by 1 January 2020, as originally required.
CFTC Division Of Enforcement Issues Annual Report For FY 2019 - Actions Filed Exceeded CFTC Average Over The Prior Five Fiscal Years, Awarded More Than $1.3 Billion In Monetary Relief

Date 25/11/2019

The U.S. Commodity Futures Trading Commission’s Division of Enforcement (DOE) today issued its Fiscal Year (FY) 2019 Annual Report. The second annual report highlights the division’s success prosecuting the most pernicious forms of misconduct in the market – from manipulative behavior, to commodities fraud, to misappropriation of confidential information.
US Department Of Justice: Former Executives And Employees Of Health Technology Start-Up Charged In A $1 Billion Scheme To Defraud Clients, Lenders And Investors

Date 25/11/2019

Four former executives and two former employees of Outcome Health (Outcome), a Chicago-based health technology start-up company founded in 2006, were charged for their alleged roles in a fraud scheme that targeted the company’s clients, lenders and investors, and involved approximately $1 billion in fraudulently obtained funds.
Statement Of Concurrence By CFTC Commissioner Rostin Behnam - Amendments To Registration And Compliance Requirements For Commodity Pool Operators And Commodity Trading Advisors

Date 25/11/2019

I support the two final rules amending Part 4 of the Commission’s regulations addressing various registration and compliance requirements for commodity pool operators (CPOs) and commodity trading advisors (CTAs). I support these amendments because they represent the latest step in the Commission’s ever evolving understanding of the needs of this dynamic segment of the derivatives market, along with the needs of consumers and the national public interest we are charged with protecting. The amendments adopted today reflect many years of staff experience and familiarity with the affected market participants. They incorporate commonly-relied upon no-action and exemptive relief into the Commission’s regulations, reducing regulatory burdens while promoting legal certainty. However, these rules are not perfect. In particular, the Commission’s decision to omit a notice filing requirement for claiming a CPO or CTA exemption for Family Offices gives me pause and raises concerns that we will not have direct visibility into the identity of entities claiming these exemptions. I am hopeful that the Commission will monitor whether this lack of visibility impacts our oversight and protection of market participants, and take action, if appropriate.
SEC Proposes To Modernize Regulation Of The Use Of Derivatives by Registered Funds And Business Development Companies

Date 25/11/2019

The Securities and Exchange Commission has voted to propose a new rule designed to enhance the regulation of the use of derivatives by registered investment companies, including mutual funds, exchange-traded funds (ETFs) and closed-end funds, as well as business development companies. The proposed rule would provide an updated and more comprehensive approach to the regulation of funds’ derivatives use.