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  • New Zealand's Fnancial Markets Authority And Reserve Bank Of New Zealand Report On Life Insurer Conduct And Culture

    Date 29/01/2019

    The Financial Markets Authority (FMA) and Reserve Bank of New Zealand (RBNZ) have completed their joint review of 16 New Zealand life insurers. This review follows the regulators’ bank review published in November 2018.

  • Circular Of Shanghai International Energy Exchange On Trading Adjustments Of Crude Oil Futures Contracts For Spring Festival 2019

    Date 29/01/2019

    Shanghai International Energy Exchange (hereinafter referred to as “INE”), the subsidiary of Shanghai Futures Exchange has released its Circular on Trading Adjustments of Crude Oil Futures Contracts for Spring Festival 2019 on January 29, 2019 as follows:

    1. The market will be closed from 3:00 p.m. of February 1, 2019 to February 10, 2019. The market will resume trading on February 11, 2019 with the central auction session from 8:55 a.m. to 9:00 a.m. and the continuous trading on the night of that day.
    2. If the Limit-locked market does not occur on January 31, 2019, INE will adjust the trading margin rate to 12% of the contract value and the price limit to ±10% from the settlement price of that day since the daily clearing process begins. In the case that the above adjusted trading margin rate and price limit vary from the current ones, the higher ones will prevail. 
    3. The market will resume trading on February 11, 2019. As from the first trading day without the Limit-locked market, the trading margin rate and the price limit will return to 10% and ±8% respectively since the daily clearing process begins. Please refer to Risk Management Rules of the Shanghai International Energy Exchange for implementing other provisions concerning the trading margin and the price limit.

  • Shanghai Stock Exchange Releases Notice On Collateralized Repo Of Shares

    Date 29/01/2019

    To implement relevant requirements on preventing and defusing the shares collateral risks of listed companies given by the Financial Stability and Development Committee under the State Council and encourage and help market participants to defuse risks, upon the approval of the China Securities Regulatory Commission (CSRC), the Shanghai Stock Exchange (SSE) releases the “Notice on Issues Related to Collateralized Repo Trading of Shares” (the Notice for short) on January 18, 2019. The Notice comes into force on the date of release.

  • FINRA Working Paper: High Broker-Affiliated ATS Order Routing Associated With Lower Fill Rates, Higher Costs

    Date 28/01/2019

    Institutional orders routed by brokers that send a relatively high percentage of such orders through affiliated alternative trading systems (ATSs) tend to receive lower order fill rates and higher execution costs, according to a new working paper by FINRA’s Office of the Chief Economist.

  • CFTC Chairman Giancarlo: Bipartisanship, Goodwill And Common Sense Guided CFTC Through Government Shutdown

    Date 28/01/2019

    U.S. Commodity Futures Trading Commission (CFTC) Chairman J. Christopher Giancarlo issued the following statement regarding the CFTC’s return to operations:

    “Following the Friday evening announcement of the continuing resolution to reopen the government, the CFTC resumed operations.  Today, we enthusiastically welcomed back hundreds of employees to our offices in Washington, Kansas City, Chicago and New York.  We are grateful for the professional manner in which they handled the uncertainty of the shutdown."

  • CFTC Financial Data For Futures Commission Merchants Update

    Date 28/01/2019

    Futures commission merchants (FCMs) and retail foreign exchange dealers (RFEDs) must file monthly financial reports with the CFTC's Division of Swap Dealer and Intermediary Oversight (DSIO) within 17 business days after the end of the month. Selected financial information from these reports is published below. The most recent month-end information generally is added within 12 business days after FCMs and RFEDs file their reports, but occasionally may be added later. For example:  The 17th business day filing “due date" for February 28, 2015 financial reports was March 25, 2015.  The 12 business day target for posting these data was April 10, 2015.

  • Shamoil T. Shipchandler, Regional Director Of The SEC’s Fort Worth Regional Office, Has Left The Agency

    Date 28/01/2019

    The Securities and Exchange Commission today announced that Shamoil T. Shipchandler, Director of the Fort Worth Regional Office, left the agency on Friday, January 25.  Under Mr. Shipchandler’s leadership, the Fort Worth office has brought numerous significant enforcement actions and has conducted examination activities that have strengthened compliance in the industry, including filing novel cases involving accounting fraud and cryptocurrency, and providing transparency to regional registrants.

  • Court Orders $1 Billion Judgment Against Operators Of Woodbridge Ponzi Scheme Targeting Retail Investors - Former Owner Robert H. Shapiro Fined $100 Million

    Date 28/01/2019

    The Securities and Exchange Commission today announced that a federal court in Florida ordered Woodbridge Group of Companies LLC and its former owner to pay $1 billion in penalties and disgorgement for operating a Ponzi scheme that targeted retail investors.

  • Federal Reserve Board Will Host Public Research Conference On Its Stress Testing Framework In July

    Date 28/01/2019

    The Federal Reserve Board in July will host a public research conference on its stress testing framework. The conference will bring together academics, regulators, bankers, and other stakeholders to discuss the transparency and effectiveness of the Board's stress tests and how the stress tests can remain a dynamic and useful tool of large bank supervision.

  • Remarks Of CFTC Commissioner Dan M. Berkovitz At The Commodity Markets Council State Of The Industry 2019 - Competition, Concentration, And Cartels In The Swaps Market

    Date 28/01/2019

    Good afternoon.  Thank you Kevin, Jim, and the Commodity Markets Council for inviting me here to speak with you.

    I’m going to talk today about free, fair, and competitive markets.  These concepts are the foundation of our economic system.  In the same year the American colonies declared their independence, Adam Smith observed in The Wealth of Nations, “In general, if any branch of trade, or any division of labor, be advantageous to the public, the freer and more general the competition, it will always be the more so.”  Just as our principles of political liberty have endured, the principles of economic liberty have endured as well.  More recently, the U.S. Supreme Court declared, The heart of our national economic policy long has been faith in the value of competition.”