News Centre

Expanded Opening And Intra-day Quote Width Requirements And MIAX Order Monitor Settings For Certain Symbols Trading On MIAX Options And MIAX Emerald Through Friday, September 30, 2022

Date 28/06/2022

MIAX Options and MIAX Emerald have expanded the maximum valid bid/ask differential for Market Makers for certain symbols traded on the Exchanges. The expanded bid/ask differentials will be in effect through Friday, September 30, 2022.

Nadex Adds Definition Of “Business Day” And Clarifies Contract Issuance

Date 28/06/2022

Pursuant to Section 5c(c)(1) of the Commodity Exchange Act, as amended (“Act”), and Section 40.6(a) of the regulations promulgated by the Commodity Futures Trading Commission (the “Commission”) under the Act (the “Regulations”), North American Derivatives Exchange, Inc. (“Nadex”, the “Exchange”), Nadex submitted notice to the Commission that Nadex is adding the definition of “Business Day” to Chapter 1 (Definitions) of the Rulebook and clarifies the description of contract issuance in Rule 12.1, to note that the description does not necessarily apply to the issuance of contracts during a holiday week. These amendments will become effective July 15, 2022.  

Ontario Securities Commission Publishes Updated Service Commitment

Date 28/06/2022

The Ontario Securities Commission (OSC) today published an updated Service Commitment, which provides investors, registrants and market participants with transparency on the standards and timelines they can expect when interacting with the OSC.

When Voluntary Means Mandatory And Forever: Statement On In The Matter Of Ernst & Young LLP, SEC Commissioner Hester M. Peirce, June 28, 2022

Date 28/06/2022

I could have supported an enforcement action against Ernst & Young LLP (“EY”) based on the cheating by EY audit professionals on various examinations necessary to earn and maintain their Certified Public Accountant (“CPA”) licenses. Today’s settlement, however, also quietly sets the precedent that failing to correct a response to a voluntary information request received from the Securities and Exchange Commission (“SEC” or “Commission”) might be a strict liability offense punishable with outsized penalties and other costly remedial measures. Setting aside whether the remedies are commensurate to the alleged failure, the source and scope of this purported duty to correct—a duty that, if it exists, likely has profound consequences—is altogether unclear. Accordingly, I dissent.

FSB Virtual Workshop On Funding And Interconnectedness Practices To Aid Resolution Planning For Insurers

Date 28/06/2022

On 10 January 2022, the FSB published a call for public feedback on its practices papers on Resolution Funding for Insurers and Internal Interconnectedness in Resolution Planning for Insurers. Interested parties were invited to provide written responses by 15 March 2022. The FSB thanks those who have taken the time and effort to express their views. 

GPW Acquires Armenia Securities Exchange

Date 28/06/2022

• The Warsaw Stock Exchange (GPW) has signed a Share Purchase Agreement with the Central Bank of Armenia (CBoA) to buy a 65,03% stake in the Armenia Securities Exchange (AMX) from CBoA
• GPW and CBoA have signed a Shareholders’ Agreement regarding the participation of the contracting parties in AMX
• The signing ceremony was attended by representatives of Polish and Armenian authorities, including Marcin Przydacz, Undersecretary of State at the Ministry of Foreign Affairs

Euronext Announces Its Science-Based Climate Targets Supporting Its “Fit For 1.5°” Commitment

Date 28/06/2022

Euronext, the leading pan-European market infrastructure, today announced its science-based climate targets to reduce greenhouse gas emissions in alignment with the Paris Agreement, based on the framework provided by the Science Based Targets initiative (SBTi). These targets support Euronext’s recently announced "Fit for 1.5°” commitment to net zero through the “Business Ambition for 1.5°” initiative in partnership with the United Nations Climate Change “Race to Zero” campaign. Euronext’s ESG commitment is a key pillar of Euronext’s “Growth for Impact 2024” strategic plan announced in November 2021.

L8 Holdings Ltd. And Pro-IPO Investment: BaFin Prohibits L8 Holdings Ltd. And Pro-IPO Investment From Offering The Securities The Shares Of L8 Holdings Ltd. To The public.

Date 28/06/2022

On 22nd June 2022, BaFin prohibited L8 Holdings Ltd., which states that its registered office is in 2102-58 Keefer Place, BC Vancouver, Canada, and Pro-IPO Investment, which states that its registered office is in 50 Mark, Ln, EC3R 7QR London, United Kingdom, from offering the securities shares of L8 Holdings Ltd. to the public. BaFin imposed the prohibition because the companies had infringed Article 3(1) of the EU Prospectus Regulation. For this reason, neither L8 Holdings Ltd. nor Pro-IPO Investment may not offer the securities the shares of L8 Holdings Ltd. to the public in Germany.

U.S. Treasury Sanctions Nearly 100 Targets In Putin’s War Machine, Prohibits Russian Gold Imports

Date 28/06/2022

• US Treasury Implements G7 Commitments by Prohibiting Gold Imports and Targeting Defense Industrial Base, Military and Intelligence Units, and Sanctions Evaders
• FinCEN and U.S. Department of Commerce Implementing G7 Commitments by Cracking Down on Export Control Evasion

U.S. Office Of Financial Research Working Paper Finds Cash Biases Measurement Of The Stock Return Correlations

Date 28/06/2022

Today, the U.S. Office of Financial Research published a working paper, "Cash-Hedged Stock Returns," and an accompanying blog, regarding firms' cash holdings and the implications for asset prices and financial stability.