News Centre

Joint Staff Statement On Broker-Dealer Custody Of Digital Asset Securities - Division Of Trading And Markets, U.S. Securities And Exchange Commission - Office Of General Counsel, Financial Industry Regulatory Authority

Date 08/07/2019

Market participants have raised questions concerning the application of the federal securities laws and the rules of the Financial Industry Regulatory Authority (“FINRA”) to the potential intermediation—including custody—of digital asset securities and transactions.  In this statement, the staffs of the Division of Trading and Markets (the “Division”) and FINRA (collectively, the “Staffs”)—drawing upon key principles from their historic approach to broker-dealer regulation and investor protection—have articulated various considerations relevant to many of these questions, particularly under the SEC’s Customer Protection Rule applicable to SEC-registered broker-dealers.

CFTC Commitments Of Traders Reports Update

Date 08/07/2019

The current reports for the week of July 2, 2019 are now available.

FINRA: Joint Statement On Broker-Dealer Custody Of Digital Asset Securities

Date 08/07/2019

Market participants have raised questions concerning the application of the federal securities laws and the rules of the Financial Industry Regulatory Authority (“FINRA”) to the potential intermediation—including custody—of digital asset securities and transactions. In this statement, the staffs of the Division of Trading and Markets (the “Division”) and FINRA (collectively, the “Staffs”)—drawing upon key principles from their historic approach to broker-dealer regulation and investor protection—have articulated various considerations relevant to many of these questions, particularly under the SEC’s Customer Protection Rule applicable to SEC-registered broker-dealers.

Statement Of CFTC Commissioner Brian Quintenz Regarding DSIO Staff Report On The Swap Dealer De Minimis Exception

Date 08/07/2019

In connection with the Commission’s adoption of a permanent $8 billion gross notional de minimis threshold in November 2018, the Chairman directed staff within the Division of Swap Dealer and Intermediary Oversight (DSIO) to continue their analysis of possible alternatives for the de minimis exception, including the impact of removing cleared swaps. The staff report issued today elucidates two fundamental facts about the de minimis exception. First, the report shows that the removal of exchange-traded and cleared swaps from the de minimis calculation would result in no reduction of regulatory coverage. Second, the report highlights once again the glaring deficiencies of using notional value as the registration threshold triggering swap dealer registration.

Finansinspektionen: Decision Regarding The Countercyclical Buffer Rate

Date 08/07/2019

Finansinspektionen (FI) decided on 5 July not to change the countercyclical buffer rate. The buffer rate of 2.5 per cent, which will be applied as of 19 September 2019, shall thus continue to apply. The countercyclical buffer guide is set at 0.04 per cent.

EBA Assesses Impact Of FinTech On Payment Institutions' And e-Money Institutions' Business Models

Date 08/07/2019

The European Banking Authority (EBA) published today a thematic Report on the impact of FinTech on payment institutions' (PIs) and electronic money institutions' (EMIs) business models. This Report points out the EBA's key observations on PIs' and EMIs' strategies and business model changes, in particular focusing on the current trends and drivers, the different approaches to FinTech, including their interaction with BigTech firms, and the level of implementation of innovative technologies. The Report, which is in line with the priorities listed in its FinTech Roadmap, does not foresee or intend to model scenarios for potential future development of institutions. The Report aims to share knowledge and provide support to supervisors and other stakeholders in identifying and understanding the main trends that could impact PIs' and EMIs' business models and pose potential challenges to their sustainability.

FTSE Russell Launches First Climate Risk Government Bond Index

Date 08/07/2019

• FTSE Climate Risk-Adjusted World Government Bond Index allows sovereign debt investors to incorporate climate change risk considerations into their portfolios
• First time that a quantitative measure of climate risk has been applied to sovereign debt
• Countries are weighted in the index according to their ‘Climate Score’ - the higher the index weight, the lower the Climate Risk exposure
• Index utilises climate risk modelling developed by Beyond Ratings, respected ESG analytics provider recently acquired by LSEG

Bank Of England: Minutes Of The Wholesale Distribution Steering Group - May 2019

Date 08/07/2019

The Wholesale Distribution Steering Group have the objective of overseeing the design of a new end-state model for wholesale cash distribution. This is to support the UK in an environment of declining cash volumes.

Deutsche Bank CEO Christian Sewing: "We Compete Where We Can Win"

Date 08/07/2019

Deutsche Bank has announced a radical transformation. In an internal Video for the staff, CEO Christian Sewing speaks with spokesperson Jörg Eigendorf about the bank's situation and how to become more profitable, improve shareholder returns and drive long-term growth.

Zhengzhou Commodity Exchange Selects ZISHI For Options Market Education

Date 08/07/2019

OSTC, a leading, global derivatives trading and education business, announces that its ZISHI education subsidiary has been selected to provide education on options markets by the Zhengzhou Commodity Exchange, one of China’s four main regulated futures markets.