News Centre

BOX Exchange Update: Bid-Ask Differentials For Various Symbols Through December 15, 2023

Date 20/09/2023

BOX Exchange LLC (“BOX”), recently distributed Notice 2023-308 detailing modified bid-ask differentials for certain option classes effective through December 15, 2023.

Statement Regarding Adoption Of Amendments To The Names Rule, SEC Commissioner Caroline A. Crenshaw, Sept. 20, 2023

Date 20/09/2023

It is no secret that the Federal securities laws and the SEC’s rules implementing them can be, at times, a little technical. We oversee a complex industry and this sometimes requires us to prescribe specific formulas or multifactor tests in service of our mission. But at their core, many of our regulations are designed to promote a simple idea that should be familiar to followers of the 20th-century philosopher Theodor Geisel: one is required to say what they mean, and to mean what they say.

Statement On Investment Company Names, SEC Commissioner Mark T. Uyeda, Sept. 20, 2023

Date 20/09/2023

Thank you, Chair Gensler, and my thanks to the staff for their presentations. Today, the Commission is adopting amendments to rule 35d-1 under the Investment Company Act, known as the “fund names rule,” and related Form amendments, including to Form N-PORT. While the adopting release makes a number of changes from the proposal, they ultimately do not go far enough.

Federal Reserve Issues FOMC Statement

Date 20/09/2023

Recent indicators suggest that economic activity has been expanding at a solid pace. Job gains have slowed in recent months but remain strong, and the unemployment rate has remained low. Inflation remains elevated.

Federal Reserve Board And Federal Open Market Committee Release Economic Projections From The September 19-20 FOMC Meeting

Date 20/09/2023

The attached tables and charts released on Wednesday summarize the economic projections made by Federal Open Market Committee participants in conjunction with the September 19-20 meeting.

Statement On Updates To The Names Rule, SEC Chair Gary Gensler, Sept. 20, 2023

Date 20/09/2023

Today, the Commission is considering final rules to update the Names Rule. I am pleased to support this rule adoption because it will help ensure that a fund’s portfolio matches a fund’s name. Such truth in advertising promotes fund integrity on behalf of fund investors.

Pizza Or Pizza? Statement On Investment Company Names, SEC Commissioner Hester M. Peirce, Sept. 20, 2023

Date 20/09/2023

Thank you, Mr. Chair.

When you walk up to a shop with a sign that reads in large neon letters, “Pizza Shop,” you expect to be greeted by the comforting smell of baking dough, sauce and cheese. You know broadly what to expect. Whether it will be classics like pepperoni and cheese or something less conventional like coconut and banana, you have a general idea of what to expect when you walk into a pizza shop. You are not going to get sushi or tacos; you are going to get some sort of pizza.

Truth In Naming, SEC Commissioner Jaime Lizárrag, Sept. 20, 2023

Date 20/09/2023

More than half of U.S. households – 55 percent to be exact – invested in registered funds in 2022, many as part of their retirement accounts. By modernizing a truth-in-naming rule that is woefully outdated and out of touch with the needs of investors in our modern times, the actions we are taking today will strengthen protections for nearly 121 million retail investors.

SEC Adopts Rule Enhancements To Prevent Misleading Or Deceptive Investment Fund Names

Date 20/09/2023

The Securities and Exchange Commission today adopted amendments to the Investment Company Act “Names Rule,” which addresses fund names that are likely to mislead investors about a fund’s investments and risks. The amendments modernize and enhance the Names Rule and other names-related regulatory requirements to further the Commission’s investor protection goals and to address developments in the fund industry in the approximately 20 years since the rule was adopted.

CFTC Orders Chicago-Based Advantage Futures LLC To Pay $395,000 For Supervision Failures

Date 20/09/2023

The Commodity Futures Trading Commission today issued an order simultaneously filing and settling charges against Advantage Futures LLC, a registered futures commission merchant based in Chicago, Illinois, for failing to diligently supervise the handling of commodity interest accounts, which resulted in incomplete and inadequate oversight of its surveillance of customers’ trading activity for disruptive trading over a four-year period, in violation of CFTC regulations.