News Centre

CFTC Commissioner Pham To Participate On A Panel At POLITICO’s AI & Tech Summit

Date 29/09/2022

SEC: Deloitte’s Chinese Affiliate To Pay $20 Million Penalty For Asking Audit Clients To Conduct Their Own Audit Work - Clients Selected Their Own Samples And Prepared Workpapers

Date 29/09/2022

The Securities and Exchange Commission today charged Deloitte Touche Tohmatsu Certified Public Accountants LLP (Deloitte-China), the Chinese affiliate of the Deloitte global network of accounting firms, with failing to comply with fundamental U.S. auditing requirements in its component audits of U.S. issuers and its audits of foreign companies listed on U.S. exchanges. Deloitte-China agreed to settle the charges by paying a $20 million penalty and agreeing to extensive remedial measures.

CFTC To Host Panels For Financial Educators For World Investor Week

Date 29/09/2022

BIS: Basel Committee Finds Japan Compliant With Its Net Stable Funding Ratio Standard And Largely Compliant With Its Large Exposures Framework; Updates Handbook For Jurisdictional Assessments.

Date 29/09/2022

• Basel Committee publishes assessment reports on the implementation of its global standards in Japan.
• Assessments find Japanese regulations respectively compliant and largely compliant with the Basel Committee's Net Stable Funding Ratio standard and large exposures framework.
• Basel Committee also publishes an updated version of its Handbook for jurisdictional assessments.

The EBA Updates Data Used For The Identification Of Global Systemically Important Institutions (G-SIIs)

Date 29/09/2022

• For the first time the EBA is publishing data items specific to banks headquartered in the Banking Union
• The publication covers 13 indicators, including the recently added trading volume indicator and updated data for the 30 largest institutions in the EU
• The data is accompanied by user-friendly tools and bank-specific PDFs

CryptoCompare Digital Asset Management Review - September 2022: One Of The Most Challenging Months For Ethereum-Based Digital Asset Products

Date 29/09/2022

In September, both traditional and digital asset markets continued to decline as the US Federal Reserve announced its decision to raise interest rate by 75bps.

CFTC Orders Futures Commission Merchant To Pay $500,000 For Supervision Failures Relating To Improper Or Fictitious Trade Transfer Requests

Date 29/09/2022

The Commodity Futures Trading Commission today issued an order simultaneously filing and settling charges against ADM Investor Services Inc. (ADMIS), a registered futures commission merchant (FCM) in Chicago, Illinois. The order finds that ADMIS failed to supervise its employees and agents in their handling of commodity interest accounts, and failed to perform its supervisory duties diligently. The order requires ADMIS to pay a $500,000 civil monetary penalty and to cease and desist from any further violations of the Commodity Exchange Act (CEA) and CFTC regulations, as charged. 

What Firms And Customers Can Expect From The Consumer Duty And Other Regulatory Reforms - Speech By Sheldon Mills, UK Financial Conduct Authority Executive Director, Consumers And Competition, Delivered At The Consumer Protection In Financial Services Summit

Date 29/09/2022

Highlights

• Consumer Duty is a significant shift, both for firms and for us at the FCA. It is also an opportunity. The Duty provides a fairer basis for competition and the flexibility of an outcomes-focused, rather than prescriptive, approach. It will provide a boost to growth and innovation. 
• The Consumer Duty comes at a challenging time for consumers and the wider economy.  While the duty is not yet in force, firms should be stepping up now to support customers in these straitened times and ensure customers get good outcomes. 
• Boards and senior management have a critical role in overseeing firms’ implementation of the Duty. We are committed to working closely with industry during the implementation period and beyond to get this right. 

CFTC And SEC Virtual Joint Career Forum: Explore The Attorney Path

Date 29/09/2022

EEX Sets New Record For Trading In Futures On Dairy Products In Europe

Date 29/09/2022

EEX has registered a new annual record in the current calendar year in trading EEX Dairy Futures. As of 21 September 2022, the cumulative trading volume in 2022 (27,678 contracts = 138,390 tonnes of commodity equivalent) exceeded the total volume of the record year 2017 (27,564 contracts = 137,820 tonnes of commodity equivalent). Within the product range that includes also Liquid Milk, Butter and Whey Powder Futures, growth in the EEX European Skimmed Milk Powder Futures was especially striking.