News Centre

Professor Michael Mainelli Becomes Lord Mayor-Elect: Z/Yen Continues Its Support For The City Of London

Date 29/09/2023

Statement Of CFTC Commissioner Christy Goldsmith Romero In Support Of Holding Interactive Brokers Accountable For Widespread Use Of Whatsapp And Personal Text Messaging To Evade Regulatory Oversight

Date 29/09/2023

I support this enforcement action against Interactive Brokers, a Commission-registered broker, as another victory in holding Wall Street institutions accountable for their pervasive use of unauthorized communication methods, like private texts and in some cases Whatsapp, violating the law and evading regulatory oversight requirements.  Together with our previous offline communications enforcement actions, the Commission has levied over $1 billion in penalties against 20 Wall Street institutions and large foreign banks,[1] sending a zero-tolerance message to those who seek to evade regulatory oversight.  This is combined with over $1.5 billion in penalties from the SEC, for a total of more than $2.5 billion in penalties.

NSE Indices Index Dashboard For The Month Ended September 2023

Date 29/09/2023

Click here to download the 'Index Dashboard' for the month ended September 2023. 

Statement Of CFTC Commissioner Kristin N. Johnson Regarding CFTC’s Twentieth Offline Communications Case

Date 29/09/2023

Not two months ago, I issued a statement announcing that the Commodity Futures Trading Commission (CFTC) had surpassed $1 billion in civil monetary penalties imposed on financial institutions that failed to comply with CFTC recordkeeping requirements through the use of offline, unmonitored communications channels. Today, the CFTC has issued a twentieth order in this series of cases, this time against Interactive Brokers Corp. and Interactive Brokers LLC, which are registered with the Commission as an Introducing Broker (IB) and Futures Commission Merchant (FCM), respectively.

SEC Charges D. E. Shaw With Violating Whistleblower Protection Rule

Date 29/09/2023

The Securities and Exchange Commission today announced settled charges against New York-based registered investment adviser D. E. Shaw & Co., L.P. for raising impediments to whistleblowing by requiring employees to sign agreements prohibiting the disclosure of confidential corporate information to third parties, without an exception for potential SEC whistleblowers, and by requiring departing employees to sign releases affirming that they had not filed any complaints with any government agency in order for the employees to receive deferred compensation. D. E. Shaw agreed to pay $10 million to settle the SEC’s charges.

Gervais Williams Appointed President Of The Quoted Companies Alliance

Date 29/09/2023

The Quoted Companies Alliance (QCA), an independent membership organisation that champions the interests of small and mid-sized quoted companies in the UK, is delighted to announce the appointment of Gervais Williams as its next President.

MNI Indicators: Chicago Business Barometer™ - September 2023 Chicago Report™ Softened

Date 29/09/2023

• The Chicago Business Barometer™, produced with MNI, fell back -4.6 points to 44.1 from 48.7 in August, partially reversing the rebound seen in last month’s data. 
• New Orders, Production and Employment were the biggest downside drivers while Order Backlogs limited the downward move and Supplier Deliveries also moved a little higher. 
• New Orders dropped -17.6 points. This was the sixth biggest decline since the series began in 1967, and the largest since April 2020. We have also only seen one reading lower than this since June 2020. 

CFTC Orders Interactive Brokers To Pay $20 Million For Recordkeeping And Supervision Failures For Widespread Use Of Unapproved Communication Methods

Date 29/09/2023

The Commodity Futures Trading Commission today issued an order simultaneously filing and settling charges against Interactive Brokers Corp., an introducing broker, and Interactive Brokers LLC, a futures commission merchant, for failing to maintain and preserve records that were required to be kept under CFTC recordkeeping requirements, and failing to diligently supervise matters related to their businesses as CFTC registrants.

SEC Charges 10 Firms With Widespread Recordkeeping Failures

Date 29/09/2023

The Securities and Exchange Commission today announced charges against five broker-dealers, three dually registered broker-dealers and investment advisers, and two affiliated investment advisers for widespread and longstanding failures to maintain and preserve electronic communications. The firms admitted the facts set forth in their respective SEC orders and acknowledged that their conduct violated recordkeeping provisions of the federal securities laws. The firms agreed to pay combined penalties of $79 million as outlined below and have begun implementing improvements to their compliance policies and procedures to address these violations.

SEC Charges Two Credit Rating Agencies, DBRS And KBRA, with Longstanding Recordkeeping Failures - DBRS Also Charged With Disclosure And Internal Controls Violations

Date 29/09/2023

The Securities and Exchange Commission today announced charges against credit rating agencies DBRS Inc. and Kroll Bond Rating Agency, LLC (KBRA) for longstanding failures to preserve electronic records, including off-channel communications on personal and work-issued devices. Additionally, the SEC charged DBRS with violating disclosure and internal control provisions of the federal securities laws in rating certain commercial mortgage-backed securities (CMBS). To settle the charges, DBRS agreed to pay $8 million in civil penalties and KBRA agreed to pay $4 million in civil penalties.