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CFTC Charges Eight Entities For Fraudulently Claiming CFTC Registration

Date 29/09/2023

The Commodity Futures Trading Commission today announced it filed charges against eight entities for fraudulently claiming to be CFTC-registered futures commission merchants (FCMs) and retail foreign exchange dealers (RFEDs). The entities, which all claim to be based in the Florida, are altux-fx-miner, AstroFXMinners, Avadigital-Miners.com, Globalbitasset, Gold Life Investment, Matchlessfxminer, PrimeCapitalTrade, and Trading-Extramining. Each complaint seeks an order directing the respondent to cease and desist from committing violations of the Commodity Exchange Act (CEA) and CFTC regulations.
U.S. Department Of Justice: Albemarle To Pay Over $218M To Resolve Foreign Corrupt Practices Act Investigation

Date 29/09/2023

Albemarle Corporation (Albemarle), a publicly-traded specialty chemicals manufacturing company headquartered in Charlotte, North Carolina, has agreed to pay more than $218 million to resolve investigations by the U.S. Department of Justice and the Securities and Exchange Commission (SEC) into violations of the Foreign Corrupt Practices Act (FCPA) stemming from Albemarle’s participation in corrupt schemes to pay bribes to government officials in multiple foreign countries.
SEC Proposes Tailored Registration Form For Offerings Of Registered Index-Linked Annuities - Proposal Would Customize Existing Registration Form And Related Processes Currently Used In Connection With Variable Annuities

Date 29/09/2023

The Securities and Exchange Commission today proposed tailored disclosure requirements and offering processes for offerings of registered index-linked annuities (RILAs). The amendments would highlight key information about RILAs, allow insurance companies to conduct RILA offerings in the same way they conduct offerings of variable annuities, and enhance the investor protections that apply to RILA advertisements.
Statement On The Proposal For Registration For Index-Linked Annuities And The Investor Testing Report, SEC Commissioner Mark T. Uyeda Sept. 29, 2023

Date 29/09/2023

I am pleased that the Commission has proposed rule and Form amendments to implement the bipartisan Registered Index-Linked Annuities Act of 2022 (“RILA Act”), which directs the Commission to adopt a new registration form for RILAs within 18 months of enactment. The RILA Act also requires the Commission to engage in investor testing. To comply with this requirement, the Office of the Investor Advocate has issued its Investor Testing Report on RILAs, which describes the Office’s qualitative and quantitative analysis regarding RILA disclosures. I encourage the public to comment on the proposal and to offer their views on how key information about RILAs can be conveyed in an understandable way.
Statement On Registered Index-Linked Annuities, Chair Gary Gensler, Sept. 29, 2023

Date 29/09/2023

Today, the Commission proposed to update the offering process and disclosure requirements for financial products offered by the insurance industry called registered index-linked annuities (RILAs). I am pleased to support this proposal because, if adopted, it would align the RILA offering process with other insurance investment products. Further, if adopted, this rule would implement Congress’s recent mandate to the SEC to adopt a registration form specific to RILAs.

Nigerian Exchange Weekly Market Report For September 29th, 2023

Date 29/09/2023

The market opened for four trading days this week as the Federal Government of Nigeria declared Wednesday September 27, 2023 as Public Holiday to commemorate Eid-el-Maulid celebration.
A Senior Officer Of The Autorité Des Marchés Financiers Elected To International Association of Deposit Insurers Executive Committee

Date 29/09/2023

The Autorité des marchés financiers (the “AMF”) is pleased to announce that, this Friday, Patrick Déry, AMF Superintendent, Financial Institutions, was elected to the Executive Council of the International Association of Deposit Insurers This link will open in a new window (IADI) for a three-year term at the 22nd IADI Annual General Meeting.
U.S. Department Of The Treasury Releases Report On Climate Change And Household Finances

Date 29/09/2023

Today, the U.S Department of the Treasury released a report prepared in consultation with members of the Financial Literacy and Education Commission, entitled The Impact of Climate Change on American Household Finances. The analysis in the report finds that more than half of U.S. counties – populated by millions of Americans – face heightened future exposure to at least one of the three climate hazards described in the report: flooding, wildfire, or extreme heat. Further, approximately one-fifth of all U.S. counties face both elevated vulnerability and elevated future exposure to these climate hazards.
SEC Charges International Accounting Firm Prager Metis With Hundreds Of Auditor Independence Violations

Date 29/09/2023

The Securities and Exchange Commission today announced charges against accounting firm Prager Metis CPAs, LLC and its California professional services firm, Prager Metis CPAs LLP, (together, Prager) for violating auditor independence rules and for aiding and abetting their clients’ violations of federal securities laws.
BIS: The Impact Of Green Investors On Stock Prices

Date 29/09/2023

We study the impact of green investors on stock prices in a dynamic equilibrium asset-pricing model, with three types of investor: green, passive or active. Green investors track an index that exludes progressively the firms with the highest greenhouse gas emissions. Active investors maximise expected returns and can buy the stocks of brown firms. Passive investors stick to a market capitalisation-based index.