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  • CFTC: Federal Court Orders California Man And His Company To Pay $9 Million In Restitution And Penalties For Forex Fraud

    Date 15/04/2024

    The Commodity Futures Trading Commission today announced the entry of a consent order in the U.S. District Court for the Eastern District of California imposing restitution and a civil monetary penalty against Eshaq M. Nawabi, d/b/a/ Nawabi Enterprise, and Hyperion Consulting Inc. The order requires the defendants to pay $4.5 million in restitution to victims of the fraud and a $4.5 million civil monetary penalty.

  • ETFGI Reports The ETFs Industry In Europe Celebrates Its 24th Anniversary With Record Assets Of Nearly 2 Trillion US Dollars

    Date 15/04/2024

    ETFGI, a leading independent research and consultancy firm covering trends in the global ETFs ecosystem, reports the ETFs industry in Europe celebrates its 24th anniversary with record assets of nearly 2 trillion US dollars. The first European-listed ETFs made their debut on April 11, 2000. These two ETFs were based on the Euro Stoxx 50 and the Stoxx Europe 50 indices, and they were listed on Deutsche Boerse in Germany.

  • There’s Got To Be A Better Way: Statement Of Dissent Regarding Wayzata Investment Partners LLC, SEC Commissioner Hester M. Peirce, April 15, 2024

    Date 15/04/2024

    Today the Commission instituted and settled an administrative proceeding under the investment adviser pay-to-play rule. The facts here are similar to those of other pay-to-play cases: In April 2022, a covered associate of an investment adviser made a campaign contribution to a candidate for elected office. The office the candidate sought had influence over selecting investment advisers for a state investment board. The Commission’s order, however, does not allege any link between the donation and the investments. In fact, the state investment board had invested in closed-end funds advised by Respondent several years prior to the contribution. Respondent’s violation stems not from any attempt to obtain additional investments from the state investment board, but from the fact that it continued to provide advisory services for compensation in connection with the board’s longstanding closed-end fund investments. This case is yet another illustration of the overbreadth of the pay-to-play rule and another reminder of the way the rule hampers legitimate political participation. Accordingly, I did not support the case.

  • Joint Forum Of Financial Market Regulators Discusses Emerging Trends And Innovation In Canadian Markets At Annual Meeting

    Date 15/04/2024

    The Joint Forum of Financial Market Regulators (Joint Forum) held its annual meeting on April 10, 2024, bringing together members of the Canadian Securities Administrators (CSA), the Canadian Council of Insurance Regulators (CCIR), the Canadian Association of Pension Supervisory Authorities (CAPSA) and representatives from the Canadian Insurance Services Regulatory Organizations (CISRO), as well as the Mortgage Broker Regulators’ Council of Canada (MBRCC).

  • Successful Launch Of Euronext Mid-Point Match Offering Dark, Mid-Point And Sweep Functionalities

    Date 15/04/2024

    Euronext, the leading pan-European market infrastructure, today announced the successful launch of Euronext Mid-Point Match, its advanced suite of dark, mid-point and sweep functionalities embedded within Euronext's Central Order Book. These enhancements allow trading members and buy-side firms to trade at the real mid-point, without incurring implicit latency costs, to access increased liquidity, while tapping into Euronext’s unique pool of liquidity fostered by local brokers and investors. First introduced on the Brussels market on 18 March 2024, Euronext Mid-Point Match was launched across all Euronext markets on 8 April 2024.