News Centre

SIFMA Statement On SEC Equity Market Structure Proposals

Date 14/12/2022

SIFMA today issued the following statement from president and CEO Kenneth E. Bentsen, Jr. on the SEC proposals on equity market structure reform:

“The U.S. equity markets are incredibly efficient and resilient and investors, especially retail investors, have the greatest ease of access, lowest cost of trading and best execution in history."

SIFMA Fixed Income Market Close Recommendations In The U.S., The U.K. And Japan For The Christmas Day And U.K. Boxing Day Holidays

Date 14/12/2022

SIFMA has confirmed its previous holiday recommendations for the U.S., the U.K., and Japan in observance of the Christmas Day and U.K. Boxing Day holidays.

CFTC Obtains Final Judgment Against Michigan Commodity Pool Operator And His Company For A Fraudulent Forex Scheme

Date 14/12/2022

The Commodity Futures Trading Commission today announced that Judge Matthew F. Leitman of the U.S. District Court for the Eastern District of Michigan entered an order of default judgment and permanent injunction against Ali Bazzi and his company Welther Oaks, LLC, both of Dearborn, Michigan, for misappropriating funds, fraudulent solicitation, and issuing false account statements. The court’s order requires Bazzi and Welther Oaks, jointly and severally, to pay a $441,232 civil monetary penalty, imposes permanent trading and registration bans against them, and prohibits them from violating provisions of the Commodity Exchange Act (CEA), as charged. 

SEC Proposes Amendments To Enhance Disclosure Of Order Execution Information

Date 14/12/2022

The Securities and Exchange Commission today proposed amendments that would update the disclosure required under Rule 605 of Regulation NMS for order executions in national market system stocks, which are stocks listed on a national securities exchange. Rule 605 was adopted in 2000 and provides visibility into execution quality at different market centers. It has not been substantively updated since it was adopted.

CFTC Commissioner Johnson To Speak To The New York City Bar Association

Date 14/12/2022

BIS: Suptech In Insurance Supervision

Date 14/12/2022

Given the importance of the role of supervisory technology (suptech) in the "new normal", insurance supervisors see the need to clearly understand the potential of suptech to aid their work. 

SEC Adopts Amendments To Modernize Rule 10b5-1 Insider Trading Plans And Related Disclosures

Date 14/12/2022

The Securities and Exchange Commission today adopted amendments to Rule 10b5-1 under the Securities Exchange Act of 1934 and new disclosure requirements to enhance investor protections against insider trading. The amendments include updates to Rule 10b5-1(c)(1), which provides an affirmative defense to insider trading liability under Section 10(b) and Rule 10b-5. Collectively, the final rules aim to strengthen investor protections concerning insider trading and to help shareholders understand when and how insiders are trading in securities for which they may at times have material nonpublic information.

BIS: Basel Committee Evaluation Shows That The Implemented Basel III Reforms Contributed To Increase Bank Resilience

Date 14/12/2022

• New report provides the Committee's first holistic evaluation of the impact and efficacy of the implemented Basel III reforms.
• Report indicates that the implemented reforms are an important driver of the overall increase in bank resilience and shows that market-based measures of systemic risk have also improved.
• Report finds no considerable evidence of negative side effects of the reforms on banks' lending and capital costs, nor does it identify redundancy among elements of the reforms, while acknowledging greater regulatory complexity.

BIS Announces Outcome Of Architectural Competition To Develop Designs To Enhance Its Basel Headquarters Site

Date 14/12/2022

• The BIS announces the winner of an international architectural competition to propose designs to develop its headquarters site in Basel, Switzerland
• Jury unanimously selected an innovative and sustainable design developed by a collaboration between ELEMENTAL (Santiago, Chile) and Nissen Wentzlaff Architekten (Basel, Switzerland)
• Competition project sought designs to replace ageing buildings adjoining the BIS Tower and provide modern facilities to accommodate enlargement of global meetings and growth in activities and to create a campus-like work environment
• Should the BIS decide to proceed with the design, there will be a separate project planning and approval process

EBA Publishes Its First Thematic Review On The Transparency And Level Of Fees And Charges For Retail Banking Products In The EU, Observing That Significant Detriment Still Arises For Consumers

Date 14/12/2022

​The European Banking Authority (EBA) published today a thematic review on the transparency and level of fees and charges levied by financial institutions (FIs) on the retail banking products in the EU. Overall, the review finds that fees and charges vary greatly in terms of level and type not only across the European Union (EU) market, but also across FIs within the same jurisdiction. Furthermore, the variety of types for fees and charges cause different levels of detriment to consumers, and, with the exception of payment accounts, fees and charges are difficult to compare between providers.