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Statement Between The U.S. And Japanese Authorities To Facilitate U.S. FATCA Implementation

Date 11/06/2013

The Authorities of Japan (the Financial Services Agency, the Ministry of Finance and the National Tax Agency, etc.) and the U.S. Department of the Treasury have released the “Statement of Mutual Cooperation and Understanding between the U.S. Department of the Treasury and the Authorities of Japan to Improve International Tax Compliance and to Facilitate Implementation of FATCA (the Foreign Account Tax Compliance Act of the United States)”.
CFTC Provides For Mutual Acceptance Of Approved Legal Entity Identifiers

Date 11/06/2013

The Commodity Futures Trading Commission (CFTC) has issued an Amended Order expanding, through mutual acceptance by international regulators, the list of Legal Entity Identifiers (LEIs) that can be used by registered entities and swap counterparties in complying with CFTC’s swap data reporting regulations. The Amended Order revises CFTC’s order of July 23, 2012, which directed all registered entities and swap counterparties required by CFTC rules to use LEIs in swap recordkeeping and swap data reporting to use LEIs—currently known as CFTC Interim Compliant Identifiers (CICIs)—provided by DTCC-SWIFT, the utility designated by the CFTC as the provider of LEIs until establishment of the global LEI system.
CFTC Announces That Mandatory Clearing For Category 2 Entities Begins Today

Date 10/06/2013

The second phase of required clearing for certain credit default swaps (CDS) and interest rate swaps begins today. Commodity pools, private funds, and persons predominantly engaged in activities that are in the business of banking, or in activities that are financial in nature, are included within the definition of Category 2 Entities. These entities are required to begin clearing swaps executed on or after June 10, 2013.
ESMA Seeks New Members For Its Securities Markets Stakeholders Group

Date 10/06/2013

The European Securities and Markets Authority (ESMA) is seeking new members for the Securities and Markets Stakeholder Group (SMSG), as the current members’ term expires at the end of 2013. The SMSG’s aim is to facilitate ESMA’s consultation on its work with relevant securities markets stakeholders from around the European Union (EU).
CFTC’s Division Of Clearing And Risk Issues Time-Limited No-Action Relief To Banks Having Assets Of Less Than $10 Billion From The Board Approval Requirement Of The CEA And The End-User Exception To The Clearing Requirement

Date 10/06/2013

The Division of Clearing and Risk (DCR) of the Commodity Futures Trading Commission (Commission) today announced the issuance of a time-limited, no-action letter granting relief to banks, savings associations, farm credit system institutions, and credit unions having assets of less than $10 billion (Small Banks), which are issuers of securities, from the board approval requirements of section 2(j) of the Commodity Exchange Act (CEA) and Commission regulation 50.50, subject to certain conditions.

DTCC And SWIFT Honored For Corporate Actions Initiative

Date 10/06/2013

The Depository Trust & Clearing Corporation (DTCC) and the Society for Worldwide Interbank Financial Telecommunication (SWIFT) were honored at the 2013 Inside Reference Data Awards for mounting the “Best Corporate Actions Data Initiative.” The award recognizes their work on implementing ISO 20022 messages and on DTCC’s multi-year reengineering initiative.
CFTC’s Division Of Clearing And Risk Issues No-Action Letter For Corporación Andina De Fomento

Date 10/06/2013

The Commodity Futures Trading Commission’s (Commission) Division of Clearing and Risk (Division) issued a letter today stating that DCR will not recommend that the Commission take enforcement action against Corporación Andina de Fomento ("CAF") for failure to comply with the clearing requirement of Section 2(h)(1) of the Commodity Exchange Act ("Clearing Requirement") as implemented by Commission Regulations 50.2 and 50.4. DCR believes that granting this no-action to CAF would be consistent with the end-user exception to the Clearing Requirement, in which the Commission determined that certain international financial institutions should not be subject to the Clearing Requirement.
CME Group Announces Daily Trading Volume Record In NYMEX Brent (BZ) Crude Oil Futures

Date 10/06/2013

CME Group, the world's leading and most diverse derivatives marketplace, announced it reached a trading volume record for its NYMEX Brent (BZ) crude oil futures contract on Friday, June 7, 2013. Trading volume for NYMEX Brent reached 52,352, compared to April 12, 2013, the last record day, when volume reached 44,357 contracts.
ESMA Risk Dashboard

Date 10/06/2013

The overall level of systemic risk in EU securities markets decreased throughout 4Q12, as conditions in equity and bond markets improved. Since mid-December, systemic risk has remained stable. Notwithstanding monetary policy support, the underlying sources of market uncertainty remain in place. Market clustering and fragmentation, funding risk, the low interest rate environment and obstacles to orderly market functioning remained important sources of uncertainty for EU financial stability. The recent restructuring of one national banking sector underlined the continued prevalence of the sovereign debt and banking crisis as a source of risk. On this basis, our outlook on liquidity, market and contagion risks remains unchanged.
BM&FBOVESPA: Decree N. 8,023 Reduced The Rate Of Tax On Credit, Exchange And Insurance On Foreign Investors’ FX Transactions

Date 10/06/2013

BM&FBOVESPA informs that on June 4 Decree N. 8,023 reduced the rate of Tax on Credit, Exchange and Insurance (IOF) on foreign investors’ FX transactions (including simultaneous transactions) from 6% to zero, for:
- Initial or additional margin deposits required by stock and futures exchanges;
- Investment in financial and capital markets, including transactions on the fixed income market, creation of BDRs, subscriptions and acquisition of exchange-traded or OTC investment fund shares.