News Centre

CFTC Settles Enforcement Action Against Kraft And Mondelēz

Date 13/05/2022

The Commodity Futures Trading Commission today announced that a federal court entered a consent order resolving the CFTC’s action against defendants Kraft Foods Group, Inc. and Mondelēz Global LLC.  The consent order includes an injunction and requires payment of a $16 million penalty. The order, entered today, by the Honorable Judge John Robert Blakey of the U.S. District Court for the Northern District of Illinois, stems from a complaint filed by the CFTC in 2015 (See CFTC Press Release No. 7150-15).

Nadex Refrains From Listing Certain Contracts

Date 13/05/2022

Due to activity in the underlying markets upon which the Nadex contracts are based and pursuant to the authority granted in Nadex Rule 12.1(i), Nadex took the following actions:

CFTC Commitments Of Traders Reports Update

Date 13/05/2022

The current reports for the week of May 10, 2022 are now available.

US Treasury Announces 2022 National Illicit Finance Strategy - Strategy Provides Roadmap To Close Loopholes Exploited By Criminals And Illicit Actors - Recommendations Include Increasing Transparency, Leveraging Partnerships, And Addressing Technological Risks

Date 13/05/2022

Today, the U.S. Department of the Treasury issued the 2022 National Strategy for Combatting Terrorist and Other Illicit Financing (2022 Strategy), which identifies measures to increase transparency in the U.S. financial system and strengthen the U.S. anti-money laundering/counter the financing of terrorism (AML/CFT) framework. The 2022 Strategy, prepared pursuant to Sections 261 and 262 of the Countering America’s Adversaries Through Sanctions Act (CAATSA), addresses the key risks from the 2022 National Money Laundering, Terrorist Financing, and Proliferation Financing risk assessments and reflects the complex challenges posed by a world remade by the Covid-19 pandemic, the increasing digitization of financial services, and rising levels of corruption and fraud.

CFTC Charges Long Island Resident And His Firm In Ongoing $59 Million Fraud Scheme

Date 13/05/2022

The Commodity Futures Trading Commission today announced it has filed a civil enforcement action in the U.S. District Court for the Southern District of New York against Eddy Alexandre of Valley Stream, New York, and his company, EminiFX, Inc., of Valley Stream and Manhattan, New York, charging them with fraudulent solicitation and misappropriation in connection with soliciting clients to trade foreign currency exchange (forex), commodity futures contracts, and cryptocurrencies. 

Nigerian Exchange Weekly Market Report For May 13th, 2022

Date 13/05/2022

A total turnover of 1.816 billion shares worth N27.194 billion in 36,286 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 1,598 billion shares valued at N19.603 billion that exchanged hands last week in 21,494 deals.

Deputy Comptroller US Office Of The Comptroller Of The Currency Testifies On Artificial Intelligence

Date 13/05/2022

Deputy Comptroller for Operational Risk Policy Kevin Greenfield today testified during a hearing before the House Financial Services Committee Task Force on Artificial Intelligence (AI). He discussed the Office of the Comptroller of the Currency’s (OCC) approach to responsible innovation and its supervisory expectations for banks’ use of AI, including regulatory compliance. Greenfield also discussed the OCC’s ongoing efforts to update the agency’s technological framework to support its bank supervision mandate.

EBA Publishes Final Technical Standards On Crowdfunding Service Providers

Date 13/05/2022

The European Banking Authority (EBA) today published its final draft Regulatory Technical Standards (RTS) specifying the information that crowdfunding service providers shall provide to investors on the calculation of credit scores and prices of crowdfunding offers. The final draft RTS also specify a minimum set of common standards with regards to information to be considered in credit risk assessment and loan valuation and the underlying policies and governance arrangements.

ESMA Makes Recommendations For Disclosures Of Expected Impacts Of IFRS 17 Application

Date 13/05/2022

The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has issued a Public Statement on the Transparency on implementation of IFRS 17 Insurance Contracts. 

Insurance Brokers: Serving Consumers And Businesses In Times Of Uncertainty And Change - Speech By Sheldon Mills, UK Financial Conduct Authority, Executive Director, Consumers And Competition, Delivered At The British Insurance Brokers' Association (BIBA) Conference

Date 13/05/2022

Highlights

• Brokers play a vital role in helping consumers and businesses access the insurance products they need, especially in times of uncertainty, safeguarding them against unexpected financial losses.
• We want to support competition, innovation and growth in the sector – like other parts of the financial system where we are seeing innovation and disruption through technology, data-sharing, and novel business models. 
• Our regulation takes into account the size and complexity of regulated businesses, but we are mindful of our impact on smaller firms, and we are playing close attention to the views of different stakeholders as we review our regulatory and redress framework.
• Insurance brokers have the power to deliver social good, through helping consumers and businesses manage risks, supporting the UK’s transition to net zero, and fostering a more diverse and inclusive culture to better support customers and the sector.