News Centre

SEC Proposes Rules To Implement The Statutory Mandate To Adopt Resource Extraction Disclosure Rules

Date 18/12/2019

Following a series of Commission actions, court proceedings and Congressional action, the Securities and Exchange Commission today voted to propose rules that would require resource extraction issuers to disclose payments made to foreign governments or the U.S. federal government for the commercial development of oil, natural gas, or minerals. 

Finansinspektionen Opens Sanction Case In SEB Investigation

Date 18/12/2019

FI is opening a sanction case in the investigation into Skandinaviska Enskilda Banken AB’s (SEB) governance and control of measures to combat money laundering in the bank’s subsidiaries in the Baltic countries. 

EBA Publishes Final Draft Standards On Key Aspects Related To The Implementation Of The Standardised Approach For Counterparty Credit Risk

Date 18/12/2019

The European Banking Authority (EBA) published today its final draft Regulatory Technical Standards (RTS) on the Standardised Approach for Counterparty Credit Risk (SA-CCR). These draft RTS specify key aspects of the SA-CCR and represent an important contribution to its smooth harmonised implementation in the EU. The RTS are part of the mandates assigned to the EBA within its important role in implementing the SA-CCR and Fundamental Review of the Trading Book (FRTB) frameworks in the EU.

Financial Stability Board Report Sets Out Need To Reduce Risks To Financial Stability From LIBOR Transition

Date 18/12/2019

The Financial Stability Board (FSB) today published its annual progress report on implementation of recommendations to reform major interest rate benchmarks. The report emphasises that the continued reliance of global financial markets on LIBOR poses risks to financial stability and it calls for significant and sustained efforts by the official sector and by financial and non-financial firms across many jurisdictions to transition away from LIBOR by end-2021.

SEC Adopts Risk Mitigation Techniques For Uncleared Security-Based Swaps

Date 18/12/2019

The Securities and Exchange Commission today voted to adopt rules requiring the application of risk mitigation techniques to portfolios of uncleared security-based swaps.  New Rules 15Fi-3, 15Fi-4, and 15Fi-5 establish requirements for registered security-based swap dealers and major security-based swap participants (“SBS Entities”) to:

Federal Trade Commission Chairman Simons Announces Senior Appointments In Bureau Of Competition

Date 18/12/2019

Federal Trade Commission Chairman Joseph Simons has made two appointments to the Bureau of Competition’s senior leadership team, effective today. Simons announced that, with the approval of the Federal Trade Commission, Ian Conner will assume the position of Bureau Director effective December 20, 2019. Simons also announced that Daniel Francis will be appointed Deputy Director and will serve with current Deputy Director Gail Levine.

Federal Reserve Board Appoints Beth Anne Wilson As Director Of The Division Of International Finance, Effective February 1

Date 18/12/2019

The Federal Reserve Board on Wednesday announced the appointment of Beth Anne Wilson as director of the Division of International Finance, effective February 1. Wilson, currently a deputy director of the division, will succeed Steven B. Kamin, who will serve as a senior adviser to the division before retiring at the end of April.

MIAX: Business Continuity And Disaster Recovery Plans Testing - Member Designation Standards

Date 18/12/2019

As required by Regulation Systems Compliance and Integrity and MIAX Options Rule 321, which is incorporated by reference into both the MIAX PEARL and MIAX Emerald Exchange Rule Books, and thus applicable to Members of both Exchanges, certain Members of the MIAX Exchanges will have mandatory participation requirements in the annual SIFMA Business Continuity Planning Disaster Recovery (“BC/DR”) test.

The EBA Calls On Banks To Consider Long-Term Horizons In Their Strategies And Business Activities

Date 18/12/2019

• The EBA highlights need to promote long-term approaches.
• A robust regulatory prudential framework is a pre-condition for long-term investments.
• Disclosure of long-term risks and opportunities should be enhanced.

FSB Report Sets Out Need To Reduce Risks To Financial Stability From LIBOR Transition

Date 18/12/2019

The Financial Stability Board (FSB) today published its annual progress report on implementation of recommendations to reform major interest rate benchmarks. The report emphasises that the continued reliance of global financial markets on LIBOR poses risks to financial stability and it calls for significant and sustained efforts by the official sector and by financial and non-financial firms across many jurisdictions to transition away from LIBOR by end-2021.