News Centre

Statement Regarding Exemption From National Securities Association Membership, SEC Chair Gary Gensler, Aug. 23, 2023

Date 23/08/2023

Today, the Commission is considering final amendments to a rule last meaningfully updated 47 years ago related to which broker-dealers must register with a national securities association, such as the Financial Industry Regulatory Authority (FINRA). I support this adoption because I believe it will modernize the rule to enhance cross-market and off-exchange oversight for some of the most active participants in the capital markets.

Statement Regarding Private Fund Advisers Rulemaking, SEC Commissioner Caroline A. Crenshaw, Aug. 23, 2023

Date 23/08/2023

Thank you, Chair Gensler, and many thanks to the team for their recommendation today, which I am pleased to support.

Statement On Final Rule Regarding Exemption For Certain Exchange Members, SEC Commissioner Mark T. Uyeda, Aug. 23, 2023

Date 23/08/2023

Thank you, Chair Gensler.

Flawed Rationale in Support of the Amendments to Rule 15b9-1

Statement On Private Fund Advisers, SEC Chair Gary Gensler, Aug. 23, 2023

Date 23/08/2023

Today, the Commission is considering final rules related to private fund advisers. I am pleased to support this adoption because, by enhancing advisers’ transparency and integrity, we will help promote greater competition and thereby efficiency in this important part of the markets.

US Treasury Designates Roman Semenov, Co-Founder Of Sanctioned Virtual Currency Mixer Tornado Cash

Date 23/08/2023

Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned Roman Semenov, one of three co-founders of the sanctioned virtual currency mixer Tornado Cash, for his role in providing material support to Tornado Cash and to the Lazarus Group, a state-sponsored hacking group that is an instrumentality of the Democratic People’s Republic of Korea (DPRK or North Korea). Tornado Cash has been used to launder funds for criminal actors since its creation in 2019, including to obfuscate hundreds of millions of dollars in virtual currency stolen by Lazarus Group hackers. 

Improved Oversight Of Off-Exchange Trading, SEC Commissioner Jaime Lizárraga, Aug. 23, 2023

Date 23/08/2023

Today’s amendments requiring national securities association membership for certain broker-dealers that engage in off-exchange trading is part of the Commission’s ongoing efforts to improve oversight of our securities markets, including the Treasury markets. These amendments bring transparency to off-exchange activity and level the playing field for firms that provide liquidity on and off-exchanges. 

SEC Adopts Amendments To Exemption From National Securities Association Membership - Amendments Will Enhance FINRA Oversight Of Firms That Trade Securities Proprietarily Across Markets

Date 23/08/2023

The Securities and Exchange Commission today adopted rule amendments that narrow the exemption from Section 15(b)(8) of the Securities Exchange Act of 1934, which requires any broker or dealer registered with the Commission to become a member of a national securities association unless the broker or dealer effects transactions in securities solely on an exchange of which it is a member. The Financial Industry Regulatory Authority Inc. (FINRA) currently is the only registered national securities association.

TMX Group CEO John McKenzie To Present At The 2023 Scotiabank Financials Summit

Date 23/08/2023

TMX Group CEO John McKenzie will present at the 24th annual Scotiabank Financials Summit.

BIS: Report On Current Central Counterparty Practices To Address Non-Default Losses

Date 23/08/2023

This CPMI and IOSCO report presents current practices among central counterparties (CCPs) in addressing potential losses arising from non-default events (ie non-default losses (NDLs)). It is intended to facilitate the sharing and common understanding of existing practices and to advance industry efforts and foster dialogue on CCPs' management of potential NDLs. This report does not create additional standards for CCPs or other financial market infrastructures (FMIs), nor does it provide guidance on existing standards.

BaFin Investigates Baring Private Equity London

Date 23/08/2023

The Financial Supervisory Authority (BaFin) warns consumers about the company Baring Private Equity London. The company has been contacting customers of Interactiv Global Brokers on an unsolicited basis and offering to buy off shares in Ecological Technologies Ltd. that these customers had bought in the past through Interactiv Global Brokers as broker.