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ASIC Consults On Remaking ‘Sunsetting’ Class Orders On Unit Pricing Discretions For Managed Investment Schemes

Date 08/06/2023

ASIC is seeking feedback on proposals to remake managed investment scheme unit pricing class orders that are due to expire (‘sunset’) on 1 October 2023. The proposals relate to the following class orders:
New Zealand Financial Markets Authority Files Proceedings Against AA Insurance For Alleged Fair Dealing Breaches

Date 08/06/2023

The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko - has filed civil proceedings against AA Insurance Limited (AAI) for failing to apply multi policy and membership discounts, as well as guaranteed no claims bonuses to eligible customers’ premiums, resulting in $11.12 million in overcharges.
Japan Financial Services Agency: Excerpts Of The Presidency Press Conference Following The G7 Finance Ministers And Central Bank Governors’ Meeting (G7 Finance Ministers And Central Bank Governors Meeting, Washington D.C.)

Date 08/06/2023

On April 12, SUZUKI Shunichi, Minister of Finance and Minister of State for Financial Services; UEDA Kazuo, Governor of the Bank of Japan; and KANDA Masato, Vice-Minister of Finance for International Affairs gave a presidency press conference following the G7 Finance Ministers and Central Bank Governors’ Meeting, with Japanese-English simultaneous interpretation provided. The following are excerpts from the conference:
Japan Exchange Group: Please Be Aware Of Suspicious Apps And Websites Pretending To Be JPX

Date 08/06/2023

JPX has become aware of applications and websites (JPXVIP.com, JPXtradefx.com, etc.) providing services related to trading of stocks, commodities, crypto assets, and other products that are not provided by JPX Group but use the name "JPX," which is a trademark owned by the Group.
Check Your Pulse, By ASIC Commissioner Danielle Press, 8 April 2023

Date 08/06/2023

The Australian Securities and Investments Commission cyber pulse survey is an essential tool for directors to assess their organisation’s cyber resilience, writes ASIC Commissioner Danielle Press.

CFTC Approves Final Governance Rule, Two Proposals And Other Business At The Commission Open Meeting

Date 07/06/2023

The Commodity Futures Trading Commission at its open meeting today approved the following final rule, proposed rules and a notice of proposed comparability determination that includes a request for comment:
Statement Of CFTC Commissioner Kristin N. Johnson In Support Of Notice Of Proposed Rulemaking On Large Trader Reporting Requirements

Date 07/06/2023

I strongly support issuing the proposal on Large Trader Reporting Requirements. Large trader reports “effectuate the Commission's market and financial surveillance programs by providing information concerning the size and composition” of Commission regulated markets and the accounts that hold the largest positional exposures.[1] The Commission’s large trader reporting system has been foundational to protecting market integrity and the price discovery and hedging utility of futures contracts for commercial end-users. Despite technology-based formatting limitations, the large trader reporting system has admirably supported the Commission’s market surveillance and position limits enforcement programs for decades.
Opening Statement Of CFTC Commissioner Summer Mersinger Regarding CFTC Open Meeting On June 7, 2023

Date 07/06/2023

Good morning, and thank you to everyone who is joining today’s Open Meeting here at the Commodity Futures Trading Commission (CFTC) conference room and those joining us remotely. Open public meetings are critical to the notice and comment rulemaking process, and the more members of the public we can reach, the better the process. Transparency in the regulatory process is a Core Value at the CFTC, and is foundational to good governance.
Statement Of CFTC Commissioner Kristin N. Johnson In Support Of Notice Of Proposed Rulemaking On Large Trader Reporting Requirements

Date 07/06/2023

I strongly support issuing the proposal on Large Trader Reporting Requirements. Large trader reports “effectuate the Commission's market and financial surveillance programs by providing information concerning the size and composition” of Commission regulated markets and the accounts that hold the largest positional exposures. The Commission’s large trader reporting system has been foundational to protecting market integrity and the price discovery and hedging utility of futures contracts for commercial end-users. Despite technology-based formatting limitations, the large trader reporting system has admirably supported the Commission’s market surveillance and position limits enforcement programs for decades.
Statement Of CFTC Commissioner Kristin N. Johnson In Support Of Proposed Rulemaking On DCO Recovery And Orderly Wind-down Plans

Date 07/06/2023

Derivatives clearing organizations (DCOs) play a significant role in our markets by providing essential clearing and settlement market infrastructure. They are important market intermediaries that create trust in stability by taking on counterparty risk and standing in as financial guarantors in the event of a customer or clearing member default. The risks DCOs take on in providing such services include custody, credit, and liquidity risk; other general business, operational, and legal risks; as well as the risk of its clearing members. Such risks not only threaten the a DCOs continuity of operations, but also a DCOs clearing members resulting in a broader threat to the greater financial system.