News Centre

ASIC Extends Foreign Financial Service Provider Class Orders For Two Years And Consults On Related Class Order

Date 28/09/2016

ASIC has extended for two years seven class orders giving relief to foreign financial service providers (FFSPs) providing financial services to wholesale clients. These class orders were due to expire (‘sunset’) between 1 October 2016 and 1 April 2017.

SEC To Hold Forum To Discuss Fintech Innovation In The Financial Services Industry - Forum To Be Held On November 14 At SEC Headquarters

Date 27/09/2016

The Securities and Exchange Commission today announced it will host a public forum to discuss financial technology (Fintech) innovation in the financial services industry.  The forum is designed to foster greater collaboration and understanding among regulators, entrepreneurs and industry experts into Fintech innovation and evaluate how the current regulatory environment can most effectively address these new technologies.

FIA Releases SEF Tracker For August 2016

Date 27/09/2016

Total trading volume on SEFs averaged $430.4 billion per day during the month of August, with an increase of 5.7% from the previous month and 14.6% from August 2015. Trading activity in interest rate products bounced back from a slow July, but credit volume reached its lowest level since February 2014. Check out August's full report and data here.

Canadian Securities Regulators Publish Update On Cyber Security

Date 27/09/2016

The Canadian Securities Administrators (CSA) today published CSA Staff Notice 11-332 Cyber Security to promote cyber-security awareness, preparedness and resilience in Canadian capital markets.

CFTC Charges Kevin Michael Symons Of Foothill Ranch, California And His Company, FTS Financial, Inc., With Fraud And Jerry Austin Simmons Of Charlotte, North Carolina With Fraud And Failure To Register With The CFTC

Date 27/09/2016

The U.S. Commodity Futures Trading Commission today announced the filing of a civil enforcement action in the U.S. District Court for the Southern District of New York, charging Kevin Michael Symons of Foothill Ranch, California, his wholly-owned company, FTS Financial, Inc. (FTS) of Irvine, California, and Jerry Austin Simmons of Charlotte, North Carolina with the fraudulent promotion of Simmons’ “Real Time Trade Room” (the Room), an online futures “trading” forum marketed by Defendants as a way to observe Simmons as he purported to trade futures contracts “live.” Additionally, the CFTC’s Complaint charges Simmons with soliciting clients to open managed futures trading accounts without being registered with the CFTC as an Associated Person (AP) of a Commodity Trading Advisor (CTA).

Office Of Financial Research Update: Interconnectedness In The Global Financial Market

Date 27/09/2016

The OFR released a research paper today, entitled, "Interconnectedness in the Global Financial Market." This working paper shows how network analysis can facilitate the monitoring of movements by stocks in the global financial system over time. The paper analyzes nearly 4,000 stocks in 15 countries. It concludes that stock returns tend to move together within regions — but not across them — in times of stability, but move in sync globally in times of crisis.

Timothy C. Scheve, President & CEO, Janney Montgomery Scott, Remarks At The 2016 SIFMA Annual Meeting

Date 27/09/2016

I’m Tim Scheve, president and CEO of Janney Montgomery Scott. As chair-elect of SIFMA, it’s my pleasure to welcome you. I’m pleased to be joined today by such a large and impressive group of industry leaders. Thank you for coming. We’re gathered here at the capital markets conference—SIFMA’s flagship event—to discuss the many ways our industry fuels American ingenuity and economic growth. What does that mean? To me it means:

• that well-functioning capital markets recognize the best ideas and enterprises and drive capital to them. 
• that the efficient allocation of capital provides meaningful benefits to individuals, companies, and society-at-large.

New Study Finds Russell 2000 Index Options Benchmarks And Options-Based Funds Less Volatile 15 Years Of Data Show CBOE Russell 2000 PutWrite Index (PUTR) Topped Performance With Less Risk Vs. Underlying Index

Date 27/09/2016

Chicago Board Options Exchange® (CBOE®) and Fund Evaluation Group, LLC (FEG) today announced findings from a study of four CBOE strategy performance benchmark indexes designed to track the performance of positions in Russell 2000 (RUT) index options, looking at various aspects of their performance over a 15-year period spanning 2001 through 2016.  The study was presented Monday during a session at CBOE’s Risk Management Conference Europe, currently taking place in County Wicklow, Ireland. 

ECB And People’s Bank Of China Extend Bilateral Currency Swap Arrangement

Date 27/09/2016

• European Central Bank (ECB) and People’s Bank of China (PBC) extend for three years bilateral currency swap arrangement established in 2013
• Swap arrangement has a maximum size of 350 billion Chinese renminbi and €45 billion
• Can serve as backstop liquidity facility to address potential shortage of renminbi for euro area banks

ESMA Publishes The Responses To The Call For Evidence On Asset Segregation

Date 27/09/2016

The European Securities and Markets Authority (ESMA) has published the responses received to the Call for evidence on asset segregation and custody services.