News Centre

Trade Associations Submit Briefing On EU’s REMIT Article 9

Date 27/09/2023

On September 20, ISDA and six other trade associations sent a joint briefing to EU legislators on Article 9 of the Regulation of Wholesale Energy Market Integrity and Transparency (REMIT) review, which covers the supervision of third-country firms. The associations caution against establishing market access barriers for third-country firms, while endorsing the approach taken in the Council of the EU’s general approach. The Council and the European Parliament are currently negotiating the REMIT Review.

Testimony Before The United States House Of Representatives Committee On Financial Services, SEC Chair Gary Gensler, Washington D.C., Sept. 27, 2023

Date 27/09/2023

Good morning, Chairman McHenry, Ranking Member Waters, and members of the Committee. Thank you for inviting me to testify today. As is customary, I’d like to note that my views are my own as Chair of the Securities and Exchange Commission, and I am not speaking on behalf of my fellow Commissioners or the SEC staff.

Statement On Jury’s Verdict In Trial Of Zhiying Yvonne Gasarch And Jackson Friesen, Gurbir S. Grewal, SEC Director, Division Of Enforcement, Sept. 27, 2023

Date 27/09/2023

Today, after a nine-day trial, a jury in the United States District Court for the District of Massachusetts found Canadian residents Zhiying Yvonne Gasarch and Jackson Friesen liable for their roles in long-running fraudulent schemes involving trading in microcap securities.

ISDA Derivatives Trading Forum Hong Kong, September 27, 2023, Welcome Remarks, Scott O’Malia, CEO, ISDA

Date 27/09/2023

Good afternoon everyone and welcome to the Derivatives Trading Forum. Let me start by thanking Hong Kong Exchanges and Clearing (HKEx) for sponsoring and hosting today’s event. We really appreciate your support.

Dissenting Statement Of CFTC Commissioner Caroline D. Pham On Misappropriation Theory In Derivatives Markets

Date 27/09/2023

I respectfully dissent from the consent order in CFTC v. Xie,[1] because it has a material omission of the applicable legal precedent.  The consent order inexplicably omits the only court opinion on the misappropriation theory of liability for this violation under section 6(c)(1) of the Commodity Exchange Act (CEA) and CFTC Rule 180.1.  I believe that it is most appropriate to allege “misappropriation of confidential information in breach of a pre-existing duty of trust and confidence to the source of the information,” and not use the term “material non-public information,” which is a term of art under U.S. securities laws and regulations.

CFTC: Federal Court Orders Chinese National To Pay More Than $350,000 For Fraudulent Scheme To Trade Against Employer

Date 27/09/2023

The Commodity Futures Trading Commission today announced the U.S. District Court for the Northern District of Illinois entered a consent order on September 26 imposing a permanent injunction, disgorgement, and civil monetary penalty against Dichao Xie, a resident of China.

BIS: CBDC And The Operational Framework Of Monetary Policy

Date 27/09/2023

What effect would a retail central bank digital currency (CBDC) have on monetary policy implementation in the euro area, and how would this shape the macroeconomic effects of a CBDC? The introduction of a CBDC could affect the operational framework of monetary policy and the conditions in interbank markets if it brings about a sufficiently large decrease in excess reserves due to the reduction in bank deposits. This, in turn, could have important macroeconomic implications, both in the long run and during the CBDC adoption phase.

CFTC Commissioner Pham To Keynote At The North American Millers’ Association 2023 Annual Meeting

Date 27/09/2023

SEC Charges Corporate Insiders For Failing To Timely Report Transactions And Holdings - Several Issuers Charged As Well In Connection With Their Insiders’ Reporting Failures

Date 27/09/2023

The Securities and Exchange Commission today announced charges against six officers, directors, and major shareholders of public companies for failing to timely report information about their holdings and transactions in company stock. Five publicly-traded companies were also charged for contributing to the filing failures by insiders or failing to report their insiders’ filing delinquencies.

Inspire Brands Streamlines Omnichannel Commerce Across North American Restaurants Via Expanded Fiserv Relationship - Relationship Will Drive Unified Customer Experiences And Operational Efficiency Across U.S. Company-Owned And Franchised Locations

Date 27/09/2023

Fiserv, Inc. (NYSE: FI), a leading global provider of payments and financial services technology solutions, today announced an expansion of its relationship with Inspire Brands, a multi-brand restaurant company whose portfolio includes more than 32,000 restaurants worldwide.