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ISDA-Clarus RFR Adoption Indicator: April 2023

Date 15/05/2023

The ISDA-Clarus RFR Adoption Indicator increased to an all-time high of 60.7% in April 2023 compared to 56.6% in March 2023. The indicator tracks how much global trading activity (as measured by DV01) is conducted in cleared over-the-counter and exchange-traded interest rate derivatives (IRD) that reference risk-free rates (RFRs) in eight major currencies. On a traded notional basis, the percentage of RFR-linked IRD rose to 53.4% of total IRD transacted in April 2023 compared to 52.3% the prior month.

The CFTC And State Regulators In California And Hawaii Charge Los Angeles Area Precious Metals Dealer In Ongoing $61 Million Fraud Targeting The Elderly

Date 15/05/2023

The Commodity Futures Trading Commission and state regulators in California and Hawaii today announced they have filed a joint civil enforcement action in the U.S. District Court for the Central District of California against a precious metals dealer, its chief executive officer (CEO), and a senior account executive for perpetrating a $61.8 million nationwide fraudulent scheme. 

SEC Charges Red Rock Secured, Three Executives In Fraud Scheme Targeting Retirement Accounts

Date 15/05/2023

The Securities and Exchange Commission today announced charges against El Segundo, California-based Red Rock Secured LLC, its CEO, Sean Kelly, and two of its former Senior Account Executives, Anthony Spencer and Jeffrey Ward, in connection with a fraudulent scheme that involved convincing hundreds of investors to sell securities in their retirement accounts to buy gold and silver coins at prices that included markups far greater than the defendants had promised.

Market Makers Continue To Reduce Liquidity - Kaiko Research: Data Debrief

Date 15/05/2023

Last week, some of the biggest market makers in crypto, Jane Street and Jump Crypto, announced they were winding down some of their crypto exposure, particularly in the U.S due to regulatory uncertainty. This move should have major implications for liquidity in the industry which has already lost several big players over the last year. Interestingly, market depth for BTC has barely shifted since the announcement or over the past month, remaining at depressed levels. This seems to indicate that Jump and Jane Street already reduced the majority of their exposure, or have yet to make those adjustments. With the gradual decline in market depth year-to-date, it seems more likely it’s the former.

Finansinspektionen Notifies The EU Regarding The Introduction Of New Risk Weight Floor For Commercial Real Estate

Date 15/05/2023

Finansinspektionen has notified the Commission and the European Systemic Risk Board (ESRB) that it intends to introduce weight floor for commercial real estate in accordance with Article 458 of the CRR. This will replace the current Pillar 2 risk weight floors for exposures secured by commercial real estate. The measure is planned to be effective from 30 September 2023.

ESAs Draw Consumers’ Attention To How Rises In Inflation And Interest Rates Might Affect Their Finances

Date 15/05/2023

The three European Supervisory Authorities (EBA, EIOPA and ESMA – ESAs) today published an interactive factsheet to help consumers understand how the recent increases in inflation and interest rates can affect their money. This includes the financial products and services that consumers currently hold or plan to buy, such as loans, savings, financial investments, insurance and pensions.

Deutsche Börse Group: Business Indicators For April 2023

Date 15/05/2023

A summary of Deutsche Börse Group's business indicators for April 2023 is now available on the Deutsche Börse website:

FTSE Russell Launches The FTSE UK ESG Risk-Adjusted Index Series

Date 15/05/2023

• The new index series includes ESG adjusted variants of the flagship FTSE 100, FTSE 250, FTSE 350 and FTSE All-Share indices
• Methodology Risk and return characteristics are balanced with ESG characteristics to provide an investible ESG alternative to the standard UK Equity Index Series
• Index integrates ESG risks such as controversial products and conduct, carbon (emissions and reserves) and the management of ESG issues

NGX Reiterates Commitment To Upholding Market Transparency Rules, Regulations

Date 15/05/2023

Nigerian Exchange Limited (NGX) reiterates its commitment to supporting the enforcement of regulations that enhances transparency in the capital market, by reminding investors to comply with rules on disclosure of substantial holdings in listed companies.

BETTER FINANCE: Withholding Tax On Cross-Border Dividends In The EU Continues To Be A Nightmare For Investors

Date 15/05/2023

Many investors commonly use the strategy of investing in dividend stocks. Yet, investors holding foreign shares often have to pay additional withholding tax on dividends in the respective country. A recent survey conducted by BETTER FINANCE and DSW among 3,000 investors across the EU found that withholding tax (WHT) refund procedures are cumbersome and costly, making it difficult or financially unreasonable for non-professional investors to reclaim excess withholding tax on cross-border dividend income. More than 90% of European investors find the WHT reclaim procedure overall difficult, while in close to 70% of cases the investors incurred costs. Moreover, substantial knowledge and compliance with refund procedures are required, and delays are also detrimental, thus undermining investors' confidence in cross-border investment within the EU. [...]