News Centre

Statement On Rule 194, Applications By Security-Based Swap Dealers Or Major Security-Based Swap Participants For Statutorily Disqualified Associated Persons To Effect Or Be Involved In Effecting Security-Based Swaps, By SEC Commissioner Kara M. Stein

Date 19/12/2018

I want to join the Chairman in thanking the staff for the hard work that went into this release and all of the other security-based swap rules.

CFTC Swaps Report Update

Date 19/12/2018

CFTC's Weekly Swaps Report has been updated, and is now available.

Statement On Proposed Rule Regarding Risk Mitigation Techniques For Uncleared Security-Based Swaps By SEC Commissioner Kara M. Stein

Date 19/12/2018

I want to join the Chairman in thanking all of the staff for the hard work that went into this release.  In particular I would like to thank Carol McGee, Andrew Bernstein, Burt Porter, Claire O’Sullivan, and Hari Phatak.

The Bermuda Stock Exchange Will Be Closed For the Festive Holidays

Date 19/12/2018

The Bermuda Stock Exchange (“BSX”) advises that the BSX will be closed during the Christmas period as follows:

1. Tuesday, 25 December 2018 and Wednesday, 26 December 2018, re-opening on Thursday, 27 December 2018;
2. Tuesday, 1 January 2019, re-opening on Wednesday, 2 January 2019.

Federal Reserve Board And Federal Open Market Committee Release Economic Projections From The December 18-19 FOMC Meeting

Date 19/12/2018

The attached table and charts released on Wednesday summarize the economic projections and the target federal funds rate projections made by Federal Open Market Committee participants for the December 18-19 meeting.

PwC And Sigma Ratings Collaborate To Help Highlight Financial Crime Compliance And Business Integrity

Date 19/12/2018

PwC and Sigma Ratings, Inc. today announced the launch of a strategic relationship to bring innovative risk management services to companies around the world.  Together, PwC and Sigma Ratings are positioned to help companies differentiate, build trust and gain a competitive business advantage in a changing world. Via its novel, independent and dynamic risk rating approach, Sigma Ratings enables companies to showcase to boards, investors, shareholders and regulators that they are embracing compliance best practice and acting with integrity.

Federal Reserve Issues FOMC Statement

Date 19/12/2018

Information received since the Federal Open Market Committee met in November indicates that the labor market has continued to strengthen and that economic activity has been rising at a strong rate. Job gains have been strong, on average, in recent months, and the unemployment rate has remained low. Household spending has continued to grow strongly, while growth of business fixed investment has moderated from its rapid pace earlier in the year. On a 12-month basis, both overall inflation and inflation for items other than food and energy remain near 2 percent. Indicators of longer-term inflation expectations are little changed, on balance.

SEC Adopts Final Rules To Allow Exchange Act Reporting Companies To Use Regulation A

Date 19/12/2018

The Securities and Exchange Commission adopted final rules to allow reporting companies to rely on the Regulation A exemption from registration for their securities offerings.  

CFTC: Federal Court Orders Commodity Pool Operators to Pay More Than $23 Million in Restitution and Penalties for Fraud and Misappropriation of Investors Funds

Date 19/12/2018

The Commodity Futures Trading Commission (CFTC) announced today that on December 3, a federal court in New York entered an Opinion and Order ( Opinion and Order) against defendants Haena Park, her companies Phaetra Capital GP LLC, Phaetra Capital Management LP, and Argenta Group LLC (collectively, Pool Defendants), requiring the firms to pay $22,917,551 in restitution to defrauded investors and the Pool Defendants to pay, jointly and severally a $100,000 civil monetary penalty in a CFTC enforcement action, filed on June 2, 2016 and charging Park Defendants with fraudulent solicitation and misappropriation of funds, among other charges. [See CFTC Complaint and Press Release 7382-16] This ruling resolves CFTC’s litigation against the defendants.

Statement Of SEC Commissioner Robert J. Jackson, Jr. Final Rules Regarding Disqualified Actors In The Security-Based Swaps Market: Rule Of Practice

Date 19/12/2018

Thank you, Chairman Clayton, and thank you and happy holidays to the terrific Staff in the Division of Trading and Markets. I'm especially grateful to Director Brett Redfearn, Natasha Greiner, Devin Ryan, and Ed Schellhorn from Trading and Markets; Claire O'Sullivan and Diana Knyazeva from the Division of Economic and Risk Analysis; and Lori Price, Robert Tepley, and Donna Chambers from the Office of General Counsel, each of whom provided especially thoughtful briefings throughout this process.