News Centre

Statement On Safeguarding Advisory Client Assets Proposal, SEC Commissioner Hester M. Peirce, Feb. 15, 2023

Date 15/02/2023

Thank you, Chair Gensler. Safeguarding client assets is at the heart of investor protection. Accordingly, I had anticipated supporting a proposal to amend the custody rule, which, after fourteen eventful years, deserves another update. Significant aspects of the proposed approach and its implementation timeline, however, raise such great questions about the rule’s workability and breadth that I cannot support today’s proposal. I look forward to hearing from my colleagues today and from commenters during the comment period and hope that I can support the final safeguarding rule.

SEC Proposes Enhanced Safeguarding Rule For Registered Investment Advisers

Date 15/02/2023

The Securities and Exchange Commission today proposed rule changes to enhance protections of customer assets managed by registered investment advisers. If adopted, the changes would amend and redesignate rule 206(4)-2, the Commission’s custody rule, under the Investment Advisers Act of 1940 and amend certain related recordkeeping and reporting obligations.

Statement On Proposed Rules Regarding Investment Adviser Custody, SEC Chair Gary Gensler, Feb. 15, 2023

Date 15/02/2023

Today, the Commission is considering a proposal to expand and enhance the role of qualified custodians when registered investment advisers custody assets on behalf of their investors. I support this proposal because, in using important authorities Congress granted us after the financial crisis, it would help ensure that advisers don’t inappropriately use, lose, or abuse investors’ assets.

Statement On Adopting Rules Regarding The Settlement Cycle, SEC Chair Gary Gensler, Feb. 15, 2023

Date 15/02/2023

Today, the Commission is considering whether to adopt amendments to important features of the clearing and settling process. I support this adoption because it will reduce latency, lower risk, and promote efficiency as well as greater liquidity in the markets.

Cboe Global Markets To Launch Cboe One Options Feed, A New, Real-Time U.S. Options Market Data Solution

Date 15/02/2023

• Consolidated, real-time U.S. options pricing from the largest U.S. options exchange operator
• Through a single market data feed, Cboe One Options Feed will publish aggregated BBO of all displayed orders for securities traded on Cboe's four options exchanges
• Aims to meet investor demand for a cost-effective alternative to existing offerings

FTSE 100 Breaks Through 8,000 For First Time

Date 15/02/2023

The UK's FTSE 100 benchmark index set a record high today, hitting 8,000 points for the first time.

Refinitiv Commences Publication Of New Versions Of USD IBOR Cash Fallbacks - Refinitiv USD IBOR Cash Fallbacks Now Support New Federal Reserve Board And Alternative Reference Rates Committee (ARRC) Selected Benchmark Replacements Based On 30-Day Average SOFR To Help Clients Prepare For USD LIBOR Cessation On June 30, 2023

Date 15/02/2023

Effective today, and following the January 30 announcement, Refinitiv has commenced publication of new USD IBOR Cash Fallbacks that are consistent with the Federal Reserve Board and ARRC benchmark replacements for FHFA-regulated-entity contracts (except Federal Home Loan Bank advances) and Federal Fami

REX Shares Launches Energy Long And Short MicroSectors ETNs Tracking Solactive Index

Date 15/02/2023

Oil & Gas are the main ingredients of a great variety of industrial products such as transportation fuels, plastics, solvents, and a source of electricity and heat generation. Recently, demand and supply for these commodities as well as their prices have been rising in volatility on a global basis, especially due to market concerns about energy shortages, Covid-19 restrictions in China, and a recession in the horizon. However, the restraints of Russian oil by the European Union, China’s reopening, and the prospect of a change in the Fed monetary policy can establish a different scenario for these commodities’ prices. Solactive is pleased to announce REX Shares, LLC (“REX”) launched two Exchange Traded Notes (ETNs) issued by Bank of Montreal (“BMO”) linked to the Solactive MicroSectors Energy Index (ticker: BIGOIL). The ETNs, MicroSectors Energy 3x Leveraged ETNs (ticker: WTIU) and MicroSectors Energy -3x Inverse Leveraged ETNs (ticker: WTID) started trading today on NYSE Arca.

SEC Finalizes Rules To Reduce Risks In Clearance And Settlement - Final Rules Will Shorten Process For Settling Securities Transactions From Two Business Days To One

Date 15/02/2023

The Securities and Exchange Commission today adopted rule changes to shorten the standard settlement cycle for most broker-dealer transactions in securities from two business days after the trade date (T+2) to one (T+1). The final rule is designed to benefit investors and reduce the credit, market, and liquidity risks in securities transactions faced by market participants. 

Welcoming Remarks, Federal Reserve Governor Michelle W. Bowman, At The Midwest Cyber Workshop, Organized By The Federal Reserve Banks Of Chicago, Kansas City, And St. Louis

Date 15/02/2023

Introductory Remarks
Good morning. It is a pleasure to join you, and I appreciate the invitation to speak to you virtually for this inaugural Midwest Cyber Workshop hosted by the Federal Reserve Banks of Chicago, Kansas City, and St. Louis.