News Centre

ASIC Releases Surveillance Snapshot And New Service Charter

Date 12/09/2012

A snapshot of ASIC’s surveillance work has been published for the first time, as part of a commitment to improving transparency and increasing the public’s understanding of how ASIC operates. 

Dalian Commodity Exchange Will Drive The Futures Market To Develop Further At Three Aspects

Date 12/09/2012

According to related persons in charge of DCE when interviewing with China Securities Journal, China’s futures market has relatively poor capacity to serve the national economy, and cannot satisfy the requirements of a large number of enterprises for hedging and avoiding risks. We should further improve the efficiency of the market and play the role of the market functions to serve the national economy, and further drive the development of the futures market for the purpose of optimizing the allocation of resources.

Statement By The EC, ECB And IMF On The Fifth Review Mission To Portugal

Date 11/09/2012

Staff teams from the European Commission (EC), European Central Bank (ECB), and International Monetary Fund (IMF) visited Lisbon during August 28-September 11 for the fifth quarterly review of Portugal’s economic program.

Former Bank CEO Sentenced To 15 Years in Prison For Fraud Scheme

Date 11/09/2012

Joseph M. Braas, 46, of Lititz, Pa., was sentenced today to 180 months in prison for his role in a fraud conspiracy that caused the Bank of Lancaster County, which was chartered in 1863 and is one of the five oldest banking organizations in the country, to cease its independent existence.  As a result of the fraud, hundreds of jobs were lost.  Braas was chief operating officer of Equipment Finance LLC (EFI), when he and his co-defendants—Michael J. Schlager, Mary C. Stankiewicz, Misty L. Kroesen, Curtis A. Kroesen, John Wiley Spann, Harold W. Young and John S. Tomberlin—engaged in a sophisticated loan fraud scheme that caused losses of approximately $53 million at EFI.  In addition to the prison term, U.S. District Court Judge Paul S. Diamond also ordered Braas to pay restitution in the amount of $53 million.

Statement From New York Attorney General Schneiderman On 11th Anniversary Of 9/11 Attacks

Date 11/09/2012

Attorney General Eric T. Schneiderman released the following statement today on the 11^th anniversary of the 9/11 terrorist attacks.

CFTC Seeks Public Comment On Request from ICE Clear Europe For Order Permitting Portfolio Margining Of Futures And Foreign Futures Contracts

Date 11/09/2012

The Commodity Futures Trading Commission (Commission) is requesting public comment on a petition submitted by ICE Clear Europe Limited (ICE Clear Europe) for an order pursuant to Section 4d(a) of the Commodity Exchange Act (Act). The petition requests an order that would permit ICE Clear Europe and its clearing members that are registered futures commission merchants to (1) commingle in an account subject to Section 4d(a) (a futures customer account) positions in futures and options, and foreign futures and foreign options, and related customer money, securities and property; and (2) portfolio margin such futures and options, and foreign futures and foreign options, in the futures customer account.

Regulation And Supervision: Where Europe Is Heading - Presentation By Judith Hardt, Secretary General, FESE To The SFOA Conference

Date 11/09/2012

Click here to download a presentation by Judith Hardt Secretary General to the SFOA Conference, 6th September, Interlaken.

FTSE MIB Index Quarterly Review 11 September 2012

Date 11/09/2012

The FTSE Italia Index Policy Committee has approved the following changes to the FTSE MIB Index which will become effective after the close of business on Friday, 21 September 2012 (i.e. on Monday, 24 September 2012).

CFTC Seeks To Revoke Registrations Of Linda Faye Harris And Her Companies, CDH Forex Investments, LLC And CDH Global Holdings, LLC

Date 11/09/2012

The U.S. Commodity Futures Trading Commission (CFTC) today filed a notice of intent to revoke the registrations of Linda Faye Harris, CDH Forex Investments, LLC (CDH Forex) and CDH Global Holdings, LLC (CDH Global), all of Flower Mound, Texas. CDH Forex is a registered Commodity Pool Operator and Commodity Trading Advisor; CDH Global is a registered Commodity Trading Advisor; and Harris is registered as an Associated Person and is the sole principal of CDH Forex. Harris was an Associated Person and principal of CDH Global.

ISDA Commentary On August 31 Compromise Texts On MiFID2/MiFIR

Date 11/09/2012

This paper has been produced by the International Swaps and Derivatives Association (ISDA) in order to help inform on-going European Council discussions on MiFID2/MiFIR.   Some of these points will be familiar from previous ISDA commentaries; new points are therefore shaded in grey.  In summary, we make the following points:

Pre-trade transparency for non-equities trading venues (MiFIR Articles 7 and 8)

• We strongly welcome the clear link that is now made between the scope of transparency requirements under Article 7 and OTC derivatives contracts that are subject to the derivatives trading obligation.
• We are supportive of the new provisions allowing for suspension of transparency requirements in certain situations.
• There should be a clearer recognition of the importance of Request-For-Quote or voice trading for OTC derivatives markets, in support of the move to exchange and electronic trading.