News Centre

CFTC Charges Introducing Broker eFloorTrade, LLC And Its Principal John Moore With Recordkeeping And Supervision Failures And Charges Moore For His False And Misleading Statements To The CFTC

Date 28/09/2016

The U.S. Commodity Futures Trading Commission (CFTC) filed a civil enforcement action in the U.S. District Court for the Southern District of New York against eFloorTrade, LLC (eFloorTrade) and its majority owner and sole principal John Moore, charging them with recordkeeping and supervision failures and charging Moore with making false and misleading statements of material fact, or omitting material facts, in sworn testimony before the CFTC. eFloorTrade, headquartered in Orlando, Florida, is registered with the CFTC as an Introducing Broker, and Moore, also of Orlando, is registered with the CFTC as an Associated Person of eFloorTrade.

Canadian Regulators Release New Results On Women On Boards And In Executive Officer Positions

Date 28/09/2016

The securities regulatory authorities in Manitoba, New Brunswick, Newfoundland and Labrador, Northwest Territories, Nova Scotia, Nunavut, Ontario, Québec, Saskatchewan and Yukon (the participating jurisdictions) today published CSA Multilateral Staff Notice 58-308 Staff Review of Women on Boards and in Executive Officer Positions – Compliance with NI 58-101 Disclosure of Corporate Governance Practices. 

Jane Norberg Named Chief Of SEC Whistleblower Office

Date 28/09/2016

The Securities and Exchange Commission today announced that Jane Norberg has been promoted to chief of the SEC’s Office of the Whistleblower. 

CalPERS: Cheryl Eason Appointed To Government Finance Officers Association Committee On Retirement And Benefits

Date 28/09/2016

Cheryl Eason, California Public Employees' Retirement System (CalPERS) chief financial officer (CFO), has been appointed to the Government Finance Officers Association (GFOA) Committee on Retirement and Benefits Administration (CORBA).

SEC Proposes Rule Amendment To Expedite Process For Settling Securities Transactions - Proposal Shortens Settlement Cycle From Three Business Days To Two

Date 28/09/2016

The Securities and Exchange Commission today voted to propose a rule amendment to shorten the standard settlement cycle for most broker-dealer securities transactions from three business days after the trade date (T+3) to two business days after the trade date (T+2). The proposed amendment is designed to reduce the risks that arise from the value and number of unsettled securities transactions prior to the completion of settlement, including credit, market, and liquidity risk directly faced by U.S. market participants. 

SIFMA Commends SEC Action To Facilitate A Shorter Settlement Cycle

Date 28/09/2016

SIFMA today issued the following statement from Kenneth E. Bentsen, Jr., SIFMA president and CEO, after the Securities and Exchange Commission (SEC) voted to propose a rule amendment that will help facilitate the industry’s initiative and timeline to achieve a shortened settlement cycle by September 5, 2017:

“We commend the SEC for its leadership in establishing a regulatory framework that supports a shortened settlement cycle. The SEC’s proactive efforts to update its rule will create the regulatory certainty the industry needs to move forward in its goal of achieving a T+2 settlement cycle by September 5, 2017. Shortening the time it takes to settle a trade will bring numerous benefits to investors and the U.S. financial system, including reducing operational risk, enhancing the overall efficiency of U.S. securities markets and aligning the U.S. with other international markets. This is truly a win for investors, the industry and all market participants."

SEC Adopts Rules For Enhanced Regulatory Framework For Securities Clearing Agencies

Date 28/09/2016

The Securities and Exchange Commission voted today to adopt new rules to establish enhanced standards for the operation and governance of securities clearing agencies that are deemed systemically important or that are involved in complex transactions, such as security-based swaps.  The Commission also voted to propose to apply the enhanced standards established by the new rules to other categories of securities clearing agencies, including all SEC-registered central counterparties.

Statement Of CFTC Chairman Timothy Massad On Expanded Interest Rate Swap Clearing Requirement Determination And Final Rulemaking

Date 28/09/2016

Central clearing is one of the great innovations of the financial system. Indeed, increasing the use of central clearing for over-the-counter swaps is one of the most important goals of the 2009 G20 Leaders’ agreement and the Dodd-Frank Act.

SEC Files Insider Trading Charges Against Peruvian Traders Using Overseas Accounts

Date 28/09/2016

The Securities and Exchange Commission today charged two lawyers and a brokerage firm manager in Peru with insider trading prior to the merger of two mining companies.

CFTC Expands Interest Rate Swap Clearing Requirement

Date 28/09/2016

The U.S. Commodity Futures Trading Commission (Commission) today expanded the existing clearing requirement for interest rate swaps. The Commission voted unanimously to approve an amendment to Commission regulation 50.4(a) that establishes a new clearing requirement determination.