News Centre

SEC Charges South Carolina Energy Companies, Former Executives With Defrauding Investors, Charges Spring From Failed $9 Billion Nuclear Power Plant Expansion

Date 27/02/2020

The Securities and Exchange Commission today charged SCANA Corp., two of its former top executives, and South Carolina Electric & Gas Co. (SCE&G), now known as Dominion Energy South Carolina Inc., with defrauding investors by making false and misleading statements about a nuclear power plant expansion that was ultimately abandoned.

TMX Markets Incident

Date 27/02/2020

UPDATE 6: The technical halt will remain in effect for the remainder of the day on TSX, TSX Venture and TSX Alpha. As a result, the TSX Market on Close Facility will not run today. We apologize for the inconvenience.

SEC Charges Wells Fargo In Connection With Investment Recommendation Practices

Date 27/02/2020

The Securities and Exchange Commission today announced settled charges against Wells Fargo Clearing Services and Wells Fargo Advisors Financial Network for failing reasonably to supervise investment advisers and registered representatives who recommended single-inverse ETF investments to retail investors, and for lacking adequate compliance policies and procedures with respect to the suitability of those recommendations. The SEC ordered Wells Fargo to pay a $35 million penalty, which will be distributed to harmed investors.

Financial Sector’s Cybersecurity Global Readiness Exercised By Quantum Dawn V

Date 27/02/2020

SIFMA today released the summary of key recommendations from its biennial Quantum Dawn cybersecurity exercise conducted in November 2019.  This event enabled key public and private bodies around the globe to exercise their incident response protocols, both internally and externally, simulating how they would respond to global cyber-attacks. Participants included more than 800 representatives from over 150 financial firms, as well as more than 50 regulatory authorities, central banks, government agencies and trade associations across 19 countries.

Canadian Securities Regulators Propose New Nationally Harmonized Crowdfunding Rules

Date 27/02/2020

The Canadian Securities Administrators (CSA) is seeking comment on proposed harmonized rules for start-up securities crowdfunding.

TheCityUK Comments On The UK’s Approach To Negotiations With The EU

Date 27/02/2020

The UK Government has published its approach to negotiations with the EU ahead of negotiations opening between the UK and the EU next week.

Comment - Duff & Phelps: EU/UK Relationship - FS Industry

Date 27/02/2020

Reacting to the UK policy document outlining the approach to the future relationship between the UK and EU, Mark Turner, Managing Director within Duff & Phelps’ compliance and regulatory consulting practice had the following to say about the financial services sector and regulation:  

“The policy paper released today shows that the UK is striking a more comprehensive and aggressive stance than the previous government. The government highlights that the trading arrangements already in place with counties outside the EU do not bind them to EU regulation in financial services and beyond. This appears to be the UK government’s view on the position they want for the UK.”

Moscow Exchange To Begin Testing Of After-Hours Trading In Equities

Date 27/02/2020

On 2 March 2020, Moscow Exchange will begin testing of an Equity Market after-hours trading facility that will be launched in late May 2020.

Direction Of Supervision: Impact Of Payment System Innovation On Community Banks, Federal Reserve Governor Michelle W. Bowman, At "Age Of Advancement: The Intricacies Of A Digital World" 2020 Banking Outlook Conference Sponsored By The Federal Reserve Bank Of Atlanta, Atlanta, Georgia

Date 27/02/2020

It is a pleasure to be here today. I appreciate the invitation to speak to you as part of this year's Banking Outlook Conference at the Federal Reserve Bank of Atlanta. I think this year's theme, Age of Advancement: The Intricacies of a Digital World, captures the dynamic and evolving landscape of our country's financial system well. Advances in technology are occurring at a rapid pace and present the opportunity to make our financial system safer and more efficient for more Americans.

Moscow Exchange: Risk Parameters Change For The Security HYDR

Date 27/02/2020

As per the Securities market risk parameters methodology, on 27.02.2020, 18-43 (MSK) the lower bound of the price band (up to 0.6139) and initial margins (up to 21.25 %) for the security HYDR were changed. New values are available here