News Centre

SEC Charges Police Chief, Four Others In Connection With Insider Trading Before Pharmaceutical Merger

Date 29/06/2023

The Securities and Exchange Commission today filed insider trading charges against five individuals, including a police chief in Dighton, Massachusetts, arising from trading before the announcement of a tender offer by Alexion Pharmaceuticals Inc. to acquire Portola Pharmaceuticals Inc. in May 2020. Four of the defendants traded on nonpublic information obtained, directly or indirectly, from the fifth defendant, and realized more than $2.3 million in ill-gotten gains and tipped others who realized more than $1.7 million in trading profits. 

BIS: IOSCO Principles – Executive Summary

Date 29/06/2023

The International Organization of Securities Commissions (IOSCO) is the global standard setter for securities regulation. IOSCO seeks to protect investors; ensure that markets are fair, efficient and transparent; and reduce systemic risk. IOSCO's core standards, the Objectives and Principles of Securities Regulation (the IOSCO Principles) and the related Methodology for Assessing Implementation of the IOSCO Objectives and Principles of Securities Regulation (the Methodology), help to achieve these objectives.

SEC Charges Former DWAC Board Member And Others For Insider Trading In DWAC Securities - Defendants Made Tens Of Millions Of Dollars From Illegally Trading On Nonpublic Knowledge Of DWAC’s Plan To Acquire Trump Media & Technology Group Corp.

Date 29/06/2023

The Securities and Exchange Commission today filed insider trading charges against Bruce Garelick, a former board member of Digital World Acquisition Corporation (DWAC), a special purpose acquisition company (SPAC); Michael Shvartsman and his firm Rocket One Capital LLC; and Gerald Shvartsman for trading in advance of DWAC’s October 2021 announcement that it had reached an agreement to acquire Trump Media & Technology Group Corp. (TMTG).

Monetary Policy In The Face Of Large Shocks − Speech By Silvana Tenreyro, Bank Of England, Member of the Monetary Policy Committee, Given At The Resolution Foundation And Hosted Jointly With The Society Of Professional Economists, London

Date 29/06/2023

In her final speech as an MPC member, Professor Silvana Tenreyro looks at the effects of the pandemic and the war in Ukraine on the UK economy. She discusses the challenges for policymakers responding to such large shocks.

BIS: FSB Proposed Framework For The International Regulation Of Cryptoasset Activities – Executive Summary

Date 29/06/2023

In October 2022, the Financial Stability Board (FSB) announced a comprehensive set of proposals for regulating and supervising cryptoasset activities, which are collectively referred to as the "proposed framework for the international regulation of cryptoasset activities". The FSB invited the public to submit feedback on the recommendations and on a set of questions1. The proposed framework is a part of the FSB's ongoing efforts to address the potential financial stability risks posed by cryptoassets2, including so-called "stablecoins."

CFTC Orders Australian Company to Pay Penalty for Both Federal and Exchange Platinum Futures Position Limits Violations

Date 29/06/2023

The Commodity Futures Trading Commission today issued an order filing and simultaneously settling charges against Australian-based company Challenger Life Company Limited (Challenger Life) for exceeding both the federal and exchange spot month speculative position limits for Platinum futures contracts traded on the New York Mercantile Exchange (NYMEX). The order requires Challenger Life to pay a $150,000 civil monetary penalty.

Canadian Securities Regulators Publish Framework For Commodity Benchmarks

Date 29/06/2023

Today, the securities regulatory authorities of British Columbia, Alberta, Saskatchewan, Ontario, Québec, New Brunswick, Nova Scotia, Yukon and Northwest Territories published advanced notice of implementation of final amendments to Multilateral Instrument 25-102 Designated Benchmarks and Benchmark Administrators (MI 25-102) that establish the framework for the designation and regulation of commodity benchmarks and the persons or companies that administer them.

BIS Appoints Maha El Dimachki As New Head Of The Innovation Hub Singapore Centre

Date 29/06/2023

• Currently leads UK's Financial Conduct Authority supervisory support for start-ups
• Extensive experience in payments infrastructure and operations in the public and private sector

Statement Of CFTC Commissioner Caroline D. Pham On Enforcing Federal Position Limits

Date 29/06/2023

I support the Commission’s Order instituting proceedings, making findings, and imposing remedial sanctions against Challenger Life Company Limited, for exceeding the CFTC’s established Federal spot-month speculative position limit for the New York Mercantile Exchange’s (NYMEX) April 2022 Platinum futures contract, and for exceeding the NYMEX delivery limit for the April 2022 and May 2022 Platinum futures contracts.  It is the first CFTC enforcement action under the CFTC’s 2021 final rule that implemented new Dodd-Frank Act authority to establish Federal speculative position limits for 16 additional agricultural, metals, and energy commodities and certain derivatives contracts related thereto (“2021 Final Rule”).

Confluence Unveils AI Strategy To Deliver Real Impact For The Investment Management Industry - Meet ‘Rex’: Confluence’s Large Language Model-Based Solution Reconciles Data From Investor Reports In Seconds

Date 29/06/2023

Confluence Technologies, Inc. (“Confluence”), a global technology solutions provider to the investment management industry, today announced the first development out of its innovation lab that leverages AI technology to solve complex industry problems.