News Centre

MIAX Options - Price Protection Process Improvements

Date 30/03/2017

MIAX Options has filed a proposal to amend Exchange Rule 515, Execution of Quotes and Orders, regarding improvements to the MIAX Options price protection process, which will become effective on Monday, April 3, 2017.

Canadian Securities Administrators Renew Term of Chair and Vice-Chair

Date 30/03/2017

Pursuant to the last meeting of the members of the Canadian Securities Administrators (CSA), the term of CSA President Louis Morisset, President and CEO of the Autorité des marchés financiers, was renewed for a further two years, until March 31, 2019. Mr. Morisset was first appointed CSA Chair in March 2015.

IIFM And ISDA Publish Islamic Credit Support Deed For Variation Margin

Date 30/03/2017

The International Islamic Financial Market (IIFM) and the International Swaps and Derivatives Association, Inc. (ISDA) today published a new credit support deed for Islamic hedging transactions in response to global margin requirements for non-cleared trades.

SIFMA Statement On Senate Passage Of CRA Resolution On Municipal Retirement Plans

Date 30/03/2017

SIFMA today issued the following statement from Lisa Bleier, SIFMA managing director and associate general counsel on Senate passage of on H.J. Res. 67 to override the Department of Labor’s (DOL) regulation regarding savings arrangements established by state political subdivisions for non-governmental employees:

“We commend the Senate for passing the resolution to protect private-sector retirement savers.  The DOL’s regulation could leave workers saving for retirement without important protections including survivors benefits, spousal benefits, children’s benefits and inter-state portability.  Under this guidance, cities could have created plans that restrict options and limit plan customizability while prohibiting an employer match, which is crucial to maximizing retirement savings."

Microsoft Chairman John W. Thompson Among Speakers For Largest U.S. Public Pension Plans Forum On Diversity In The Workplace And Financial Markets - CalPERS Snd CalSTRS To Host Forum On May 10 In Sacramento, CA

Date 30/03/2017

The California Public Employees' Retirement System (CalPERS) and California State Teachers' Retirement System (CalSTRS) are jointly hosting the 2017 Diversity Forum on May 10. The forum brings together investment and corporate executives to discuss ways to capitalize on the experiences, strengths, cultures, and education of today's diverse modern workforce. With recent research linking Diversity and Outperformance, it is more important than ever that executives understand how to increase diversity and build an inclusive culture.

SIFMA Market Close Recommendations In The U.S., The U.K. And Japan For Good Friday

Date 30/03/2017

SIFMA has confirmed its previous holiday recommendations for the U.S., the U.K., and Japan in observance of the Good Friday holiday.

FINRA Receives SEC Approval On Rule Proposal Addressing Financial Exploitation Of Seniors

Date 30/03/2017

The Securities and Exchange Commission has approved FINRA’s rule proposal addressing financial exploitation of seniors. FINRA today issued Regulatory Notice 17-11 announcing a February 5, 2018 effective date for the rule proposal.

SIFMA Releases Muni Issue Price Model Documents For Industry Comment

Date 30/03/2017

SIFMA today released draft municipal security issue price model documents in an effort to aid industry market participants in compliance with the new Treasury Department issue price rules for municipal securities, which become effective on June 7, 2017. 

New York Attorney General Eric T. Schneiderman Announces Volkswagen To Pay New York $32.5 Million – Marking First-Ever NY State Environmental Enforcement Penalty Against An Automaker For Emissions Violations - With The Federal Government Proposing Rollbacks In Environmental Regulation, VW Case Paves Way For State Enforcement Of Tougher Auto Emissions Standards - Volkswagen, Audi And Porsche Will Pay $157 Million To Ten States – Including $32.5 Million To New York – In Environmental Penalties For Violating State Emissions Standards By Selling Over 570,000 Excessively Polluting Sedans And Suvs - Volkswagen Will Increase Investment In Electric Vehicle Market By Committing To Offer For Sale Three New Electric Car Models In New York By 2020, Including Two Electric Suvs – Up From One Model Now

Date 30/03/2017

Attorney General Eric T. Schneiderman announced today that Volkswagen AG, Audi AG and Porsche AG, as well as their American subsidiaries, have agreed to pay over $157 million to ten states – including $32.5 million to New York – to settle the environmental lawsuits first filed last summer by New York and Massachusetts challenging the companies’ secret use of unlawful “defeat device” software in their vehicles – software that caused tens of thousands of tons of excess harmful pollutants to be emitted into the air in New York and other states.

SIFMA Comments On Potential Revisions To Reg NMS

Date 30/03/2017

SIFMA yesterday submitted to the SEC a set of recommendations for review of the SEC’s Regulation NMS, which governs trading of the equities markets.  Acting Chairman Michael Piwowar has requested industry comments on Regulation NMS, and the SEC has established a public comment period in advance of the April 5, 2017 meeting of the Equity Market Structure Advisory Committee. SIFMA appreciates the opportunity to provide its members’ on-the-ground insight regarding potential revisions to modernize Reg NMS and address unintended consequences.