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OCC's Mutual Savings Association Advisory Committee Charter Renewed

Date 17/10/2016

The Office of the Comptroller of the Currency (OCC) has renewed the charter of its Mutual Savings Association Advisory Committee (MSAAC), which advises the agency on issues and opportunities facing mutual savings institutions.
Department of Financial Services Report Finds New York State Comptroller-Managed Common Retirement Fund Continues To Pay Exorbitant Fees For Poor Hedge Fund Performance - The Combination Of High Fees And Underperformance Of CRF’s Hedge Fund Investments Have Cost The Pension System $3.8 Billion Over The Last Eight Years - The State Comptroller Has Also Failed To Ensure Transparency Of Costs Related To Private Equity Fund Investments

Date 17/10/2016

Department of Financial Services Superintendent Maria T. Vullo today released a report finding that the New York State Common Retirement Fund (CRF), the investment arm of the New York State and Local Employees’ Retirement System and the New York State and Local Police and Fire Retirement System (“collectively, the System”), for years has invested pension system funds in high-cost underperforming hedge funds and nontransparent private equity funds. The New York State Comptroller is the sole trustee with complete authority and responsibility for the System addressed in the DFS report. The concerns highlighted in the DFS report are in contrast to actions taken by state pension managers nationwide, which have cut or eliminated similar investments. The report, which covers fiscal years April 1, 2008 through March 31, 2016, is the first in a series of reports to be released by the Department of Financial Services (DFS) regarding the investment activities of pension systems regulated by DFS.
MIAX Options Exchange: Enhanced MIAX Data Products For Complex Orders

Date 17/10/2016

MIAX has received approval from the Securities and Exchange Commission to trade complex orders (See SR-MIAX-2016-26). MIAX will begin trading complex orders on October 24, 2016 starting with options overlying the iShares Russell 2000 ETF (IWM).
ISDA Publishes Research Report On Key Trends In Clearing For Small Derivatives Users

Date 17/10/2016

The issue of clearing access for smaller derivatives users has been raised as a concern in the US and Europe. To further examine these issues, ISDA conducted an analysis of publicly available data on clearing. The Association also surveyed and held discussions with small derivatives users in both the US and European Union.
SEC Charges Energy Services Company And Executives With Accounting Fraud

Date 17/10/2016

The Securities and Exchange Commission today charged an energy services provider and four executives for their roles in an accounting fraud in which the company recognized revenue earlier than allowed in order to meet internal targets.

British Columbia Securities Commission Encourages Investors To “Take A Look” At Investment Fees

Date 17/10/2016

The British Columbia Securities Commission (BCSC) today launched its new Take a Look campaign, encouraging British Columbians to pay attention to the fees they pay for investment products and advice. The campaign stems from new securities rules that now require investment advisors to give their clients more detailed information about fees and charges.
Greater Freedom For Nigerian Financial Markets With Launch Of Thomson Reuters FX Central Limit Order Book - Working With Local Organizations, This Move Demonstrates Thomson Reuters Commitment To Growth In Africa And Its Ability To Take Existing Financial Solutions Used In G10 Countries And Apply Them In Emerging Markets

Date 17/10/2016

Thomson Reuters has launched an FX Central Limit Order Book (CLOB) for the Nigerian market, a move that will enhance liquidity in the FX market and give the Central Bank of Nigeria (CBN) the tools to foster greater freedom in its financial markets.
The Saudi Arabia Capital Market Authority (CMA) License Standard And Poor’s Credit Market Services Europe Limited

Date 17/10/2016

As part of CMA's responsibility to supervise, regulate, and develop credit rating activities in the Kingdom, further to its announcement dated 21/9/1436H corresponding to 8/7/2015G, regarding the CMA starting receiving applications to conduct credit rating activity and based on the related provisions set out in the Credit Rating Agencies Regulation, the CMA Board of Commissioners has issued its resolution authorizing "Standard and Poor’s Credit Market Services Europe Limited" to conduct credit rating activites in the Kingdom.
The U.S Ambassador Visits The Amman Stock Exchange

Date 17/10/2016

The Chairman of the ASE Board of Directors Marwan Bataieneh received the US Ambassador to the Kingdom Alice Wells in the presence of the CEO of the ASE Nader Azar, and a number of the ASE employees. During the visit, they discussed the common subject of mutual interest in the economic field.
Speech By Federal Reserve Vice Chairman Stanley Fischer At The Economic Club Of New York, New York, New York, October 17, 2016, Why Are Interest Rates So Low? Causes And Implications

Date 17/10/2016

I am grateful to the Economic Club of New York for inviting me to speak today. My subject is the historically low level of interest rates, a topic not far from the minds of many in this audience and of many others in the United States and all over the world.