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  • CryptoUK Responds To The Bank Of England's Letter Regarding Crypto-Assets

    Date 28/06/2018

    Responding to the Deputy Governor of the Bank of England’s letter outlining the PRA’s expectations regarding firms’ exposure to crypto-assets, Iqbal V. Gandham, Chair of CryptoUK said:

    “It is important to stress that the majority of firms within the cryptocurrency sector operate to a high standard, replicating existing models of compliance and best practice for financial services firms. Nonetheless, the concerns raised by the Deputy Governor support CryptoUK’s calls for regulation, set at an appropriate level that allows firms operating within the sector to grow and flourish.

  • Statement At Open Meeting on Investment Company Liquidity Disclosure (Final Rule) - SEC Commissioner Michael S. Piwowar

    Date 28/06/2018

    From my earliest days as SEC Commissioner, I have advocated that we engage in thoughtful retrospective review of our rules to ensure they achieve their intended objectives. I am happy, in the last open meeting of my tenure, to vote in support of a final rule which is the product of such a review.

  • Alberta Securities Commission Alleges Lutheran Church Program Misled Investors

    Date 28/06/2018

    The Alberta Securities Commission (ASC) has issued a Notice of Hearing against the Lutheran Church-Canada, the Alberta-British Columbia District (the District) and others in connection with a long-running investment program that collapsed into insolvency in early 2015. According to the Notice of Hearing, over $130 million had been invested into two of the church’s funds when the organizations were placed into federal bankruptcy protection.

  • SEC Adopts Targeted Changes To Public Liquidity Risk Management Disclosure

    Date 28/06/2018

    The Securities and Exchange Commission today adopted amendments to public liquidity-related disclosure requirements for certain open-end funds.  Under the amendments, funds would discuss in their annual or semi-annual shareholder report the operation and effectiveness of their liquidity risk management programs.  This requirement replaces a pending requirement that funds publicly provide a quantitative end-of-period snapshot of historic aggregate liquidity classification data for their portfolios on Form N-PORT. 

  • SEC Proposes Rule To Undermine Whistleblowers

    Date 28/06/2018

    Today, the Securities and Exchange Commission (SEC) issued a proposed rule to reduce the size of whistleblower rewards in cases in which the US recovers $100 million or more. This proposed rule was will discourage high ranking and well-compensated employees at large financial institutions from blowing the whistle.