News Centre

Office Of The Comptroller Of The Currency: Michael Sullivan Named Senior Deputy Comptroller For Economics

Date 23/05/2017

Acting Comptroller of the Currency Keith A. Noreika today announced that Michael Sullivan will become the agency’s Senior Deputy Comptroller for Economics on June 11, 2017.

MIAX Options: Consolidated Audit Trail (“CAT”) Fee Dispute Resolution Rule

Date 23/05/2017

MIAX Options filed with the Securities and Exchange Commission a rule filing to adopt MIAX Options Rule 1713 (Consolidated Audit Trail – Fee Dispute Resolution) that will establish the procedures for resolving potential disputes related to fees to be charged to Industry Members related to the National Market Plan Governing the Consolidated Audit Trail (the “CAT NMS Plan”).

STOXX Changes Composition Of Benchmark Indices

Date 23/05/2017

STOXX Ltd., the operator of Deutsche Boerse Group’s index business, and a global provider of innovative and tradable index concepts, today announced the new composition of STOXX Benchmarks and their sub and sector indices, among them the STOXX Europe 600 Index, STOXX North America 600 Index and STOXX Asia/Pacific 600 Index.

United States Files Complaint Against Fiat Chrysler Automobiles For Alleged Clean Air Act Violations

Date 23/05/2017

The Department of Justice, on behalf of the Environmental Protection Agency (EPA), today filed a civil complaint in federal court in Detroit, Michigan, against FCA US LLC, Fiat Chrysler Automobiles N.V., V.M. Motori S.p.A., and V.M. North America, Inc. (collectively referred to as FCA).  The complaint alleges that nearly 104,000 light duty diesel vehicles containing 3.0 liter EcoDiesel engines are equipped with software functions that were not disclosed to regulators during the certification application process, and that the vehicles contain defeat devices.  The complaint alleges that the undisclosed software functions cause the vehicles’ emission control systems to perform differently, and less effectively, during certain normal driving conditions than on federal emission tests, resulting in increased emissions of harmful air pollutants.

Firms Elect Large-Firm Governor To FINRA Board Of Governors

Date 23/05/2017

The Financial Industry Regulatory Authority (FINRA) announced the results of voting that took place at its Special Meeting on May 19, 2017, to elect one Large-Firm Governor to the FINRA Board of Governors. Andrew S. Duff, Chairman and CEO of Piper Jaffray Companies, was elected as a Large-Firm Governor.

SIFMA Statement On DOL Decision Not To Delay Fiduciary Rule

Date 23/05/2017

SIFMA today released the following statement from Kenneth E. Bentsen, Jr, SIFMA president and CEO, on Department of Labor Secretary Acosta’s decision not to further delay the fiduciary rule beyond June 9, 2017: 

“SIFMA has long-supported the creation of a best interest standard for brokers who provide personalized investment advice, and we continue to believe that the SEC is the appropriate regulator to do so. We look forward to working with the Administration and Congress on the creation of a best interest standard that protects all retail investors, while preserving choice and investment services without raising costs."

SEC And MSRB To Hold Webinar On Series 50 Exam For Municipal Advisors

Date 23/05/2017

The Securities and Exchange Commission (SEC) and the Municipal Securities Rulemaking Board (MSRB) today announced a joint educational webinar to assist municipal advisors with understanding their professional qualification requirements. The live webinar, scheduled for Thursday, June 15, 2017, from 3-4 p.m. ET, will provide information on signing up for the MSRB's Municipal Advisor Representative Qualification Examination (Series 50 exam), preparing to take the Series 50 exam, and fulfilling municipal advisor firms' SEC registration obligations.

FESE: Response To Commission Consultation On European Supervisory Authorities

Date 23/05/2017

FESE has primarily worked with ESMA as they are the ESA focused on financial markets issues and are comprised of the National Competent Authorities that supervise exchanges. Overall, our view of the working of ESMA is quite positive, however, given their increased workload and the impending application of new markets regulation such as MiFID II / MiFIR, we consider that this review is timely in order to ensure that ESMA can fulfil its function properly.

Nasdaq And Citi Announce Pioneering Blockchain And Global Banking Integration - Solution Leverages Chain’s Blockchain Technology

Date 23/05/2017

Nasdaq, Inc. (Nasdaq:NDAQ) and Citi (NYSE: C) Treasury and Trade Solutions announced yesterday a new integrated payment solution that enables straight through payment processing and automates reconciliation by using a distributed ledger to record and transmit payment instructions.  A number of payment transactions have been concluded including Citi’s automated processing of cross-border payments via a link between the CitiConnect® for Blockchain connectivity platform and the Linq Platform powered by the Nasdaq Financial Framework. This collaboration has created a pioneering institutional banking solution that tightly integrates blockchain technology with Citi’s global financial network leveraging API technology.

Statement By Commissioner Sharon Y. Bowen On The Commodity Futures Trading Commission’s 2018 Budget Request

Date 23/05/2017

I am voting to advance this budget request for procedural reasons, but do not support it. My preference was to abstain, but I was advised that doing so would block the Commission from releasing its own budget because there are only two Commissioners at present.