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  • MIAX Options - FINRA Arbitration Rule Change Notice: Proposed Rule Change To Create A Fee And Honorarium For Late Cancellation Of A Prehearing Conference

    Date 22/05/2018

    FINRA is proposing to amend FINRA Rules 12500 and 12501 of the Code of Arbitration Procedure for Customer Disputes (‘‘Customer Code’’) and FINRA Rules 13500 and 13501 of the Code of Arbitration Procedure for Industry Disputes (‘‘Industry Code’’ and together, ‘‘Codes’’), to charge a $100 per-arbitrator fee to parties who request cancellation of a prehearing conference within three business days before a scheduled prehearing conference. The proposed rule change would also amend FINRA Rules 12214(a) and 13214(a) of the Codes to create a $100 honorarium to pay each arbitrator scheduled to attend a prehearing conference that was cancelled within three business days of the prehearing conference.

  • UK Cryptoassets Taskforce Meets For The First Time

    Date 22/05/2018

    Senior leaders from government and the financial regulators were present, including representatives from HM Treasury, the FCA and the Bank of England.

  • OSC Participates In North American Cryptocurrency Sweep

    Date 22/05/2018

    The Ontario Securities Commission (OSC), in conjunction with securities regulators from the North American Securities Administrators Association (NASAA), recently participated in an initiative to raise awareness about fraudulent and unregistered cryptocurrency-related investment schemes.

  • ESMA: Opinion On Position Limits On ICE Low Sulphur Gasoil 1st Line Contracts

    Date 22/05/2018

    I. Introduction and legal basis

    1. On 9 February 2018, the European Securities and Markets Authority (ESMA) received a notification from the Financial Conduct Authority (FCA) under Article 57(5) of Directive 2014/65/EU on markets in financial instruments1 (“MiFID II”) regarding the exact position limits FCA intends to set for ICE Low Sulphur Gasoil 1st Line Future and Option commodity contract in accordance with the methodology for calculation established in Commission Delegated Regulation (EU) 2017/591 supplementing Directive 2014/65/EU of the European Parliament and of the Council with regard to regulatory technical standards for the application of position limits in commodity derivatives2 (“RTS 21”) and taking into account the factors referred to in Article 57(3) of MiFID II. 2
    2. ESMA’s competence to deliver an opinion is based on Article 57(5) of MiFID II. In accordance with Article 44(1) of Regulation (EU) 1095/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Securities and Markets Authority)3 (“ESMA Regulation"), the Board of Supervisors has adopted this opinion.

  • Sweden's Finansinspektionen: Major Upcoming Changes To Banks’ Credit Risk Modelling

    Date 22/05/2018

    The regulatory and supervisory frameworks for banks’ internal rating based (IRB) approaches will be significantly adjusted over the coming years. The overall objective is to increase the robustness of capital requirements and ensure consistency across banks. Well-functioning IRB models are key to the capital assessment of the larger Swedish banks and hence a supervisory priority for FI.