News Centre

During National Business Women’s Week, New York Governor Cuomo Announces Committee For The Advancement Of Women In Leadership In Financial Services - Sub-Committee Of Governor’s Council On Women And Girls Will Be Co-Led By Secretary To The Governor Melissa DeRosa And DFS Superintendent Linda A. Lacewell - Will Provide Expertise On Ways To Improve The Representation And Advancement Of Women, Including Women Of Color, In Financial Services Leadership Roles

Date 16/10/2019

During National Business Women's Week, Governor Andrew M. Cuomo today announced the formation of the state’s first-ever women’s committee to address the representation and advancement of women in the financial services industry and to identify the hurdles and obstacles to increasing the number of women in leadership roles, including promoting diverse women. The committee will serve as a sub-committee of Governor Cuomo’s Council on Women and Girls, and will be co-chaired by Secretary to the Governor Melissa DeRosa and Financial Services Superintendent Linda A. Lacewell.

FINRA Publishes 2019 Report On Examination Findings And Observations

Date 16/10/2019

FINRA today published its 2019 Report on FINRA Examination Findings and Observations. The report reflects key findings and observations identified in recent examinations, and contains effective practices that could help firms improve their compliance and risk management programs. It summarizes findings and observations across a range of topics, including supervision, cybersecurity, best execution, segregation of client assets, and Uniform Transfers to Minors Act (UTMA) and Uniform Grants to Minors Act (UGMA) accounts.

Nadex Product Schedule For The Japan Holiday On October 22, 2019

Date 16/10/2019

Due to the Japan Holiday on Tuesday, October 22, 2019, the Japan 225 contracts will have a modified trading schedule. Please refer to the Holiday Product Schedule Guidelines for specific product trading hours.

Intercontinental Exchange Completes Acquisition Of The Merrill Lynch Option Volatility Estimate (MOVE) Index From Bank Of America Merrill Lynch

Date 16/10/2019

Intercontinental Exchange, Inc. (NYSE: ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, today announced it has completed its acquisition of a family of U.S. fixed income volatility indices from Bank of America Merrill Lynch.

Concurring Statement Of CFTC Commissioner Dan M. Berkovitz, Proposed Rule Extending Uncleared Swap Margin Deadline For Certain Financial Entities With Smaller Swap Portfolios

Date 16/10/2019

I concur with issuing for public comment the proposed rulemaking (“Proposal”) to extend the swaps margining compliance deadline for certain financial entities that have smaller swap portfolios.

The MiG Report - TSX, TSX Venture Exchange

Date 16/10/2019

Year to Date September 2019:

212 new issuers listed year to date: 107 on Toronto Stock Exchange and 105 on TSX Venture Exchange.

• 79 Corporate Issuers
• 83 ETFs
• 48 CPCs 
• 1 Closed-End Fund
• 1 SPAC

EBA: Consultation Paper On Draft Guidelines On The Treatment Of Structural FX Under 352(2) Of The CRR (EBA/CP/2019/11)

Date 16/10/2019

The European Banking Authority (EBA) launched today a consultation on draft Guidelines on the application of the Structural FX provision. These Guidelines aim at setting a regulatory framework on Structural FX to address the observed diversity in its application across the EU. In particular, the guidelines identify criteria to assist Competent Authorities in their assessment of the structural nature of a foreign-exchange position and whether such position has been deliberately taken for hedging the capital ratio. The consultation runs until 17 January 2020.

Supporting Statement Of CFTC Commissioner Dan M. Berkovitz - Proposed Rule Excluding The European Stability Mechanism From Definition Of Financial End User

Date 16/10/2019

I support the proposed regulation that would add the European Stability Mechanism (“ESM”) to the list of governmental entities excluded from the definition of financial end user in the Commission’s margin regulations.  The Commission has recognized for many years that entities established by governments like the ESM should be exempted from some of our regulatory requirements for financial entities.  These entities serve a governmental purpose that is not to speculate or profit from derivatives and therefor are less likely to engage in activities that would bring risk to the United States.  The ESM, an intergovernmental entity designed to assist EU member states in financial distress, would likely reduce systemic risk in the European Union.  If the 2008 financial crisis is any guide, reducing financial distress in one region of the world is likely to benefit the rest of the world, including the United States.

EBA: Consultation On Supervisory Reporting Changes Related To CRR2 And Backstop Regulation (Framework 3.0)

Date 16/10/2019

The European Banking Authority (EBA) launched today a public consultation on revised Implementing Technical Standards (ITS) on supervisory reporting, which aim to keep the reporting requirements in line with changes in the regulatory framework and with the evolving needs for Supervisory Authorities' risk assessments.

Opening Statement Of CFTC Commissioner Brian Quintenz Before The Open Commission Meeting On October 16, 2019 - Open Meeting On Proposed Rule: Amendment To Regulation 23.161 – Compliance Schedule Extension And Proposed Rule: Amendments To The Margin Rules For Uncleared Swaps – 23.151 And 23.157

Date 16/10/2019

Good morning. Mr. Chairman, thank you for calling this meeting.  The proposals before us today both address one of the key post-crisis reforms: the margin framework for uncleared swaps.  I support the first proposal, which provides smaller entities with an additional year to come into compliance with the uncleared margin regime.  However, as I will explain further below, I respectfully dissent from the proposal to exclude the European Stability Mechanism from the CFTC’s margin requirements for uncleared swaps.