News Centre

SEC’s OMWI FY 2022 Annual Report Highlights The Agency’s Diversity, Equity, And Inclusion Initiatives And Progress

Date 04/04/2023

The Securities and Exchange Commission’s Office of Minority and Women Inclusion (OMWI) today released its Fiscal Year (FY) 2022 Annual Report to Congress. The report summarizes the SEC’s actions and achievements towards promoting diversity, equity, inclusion, and accessibility (DEIA) in the SEC’s workforce, increasing opportunities for minority-owned and women-owned businesses, and leveraging DEIA for mission effectiveness.

FIA: February 2023 SEF Tracker

Date 04/04/2023

Finansinspektionen Proposes Update To Its Approach For Assessing Pillar 2 Guidance For Swedish Banks

Date 04/04/2023

Finansinspektionen presents a proposal for an update to its approach for assessing the size of the Pillar 2 guidance for Swedish banks. The proposal entails in part new intervals and an upper limit on how much the outcome of the sensitivity-based stress test can contribute to the final guidance. Comments on the proposal should be submitted to FI no later than 2 May.

BIS: Macroprudential Policies For Addressing Climate-Related Financial Risks: Challenges And Trade-Offs

Date 04/04/2023

Highlights

• Macroprudential policies aim to maintain financial stability by increasing the resilience of the financial system (together with the microprudental framework) and containing the accumulation of systemic risks.
• Standard macroprudential instruments (such as capital add-ons on specific exposures) may not always contribute to these objectives when deployed to address the systemic implications of climate-related financial risks, as they could exacerbate transition risks.
• In order to mitigate these potential side effects, authorities need to carefully define the scope of application of such macroprudential policies.
• While overcoming these challenges is an operationally complex task, failure to do so may render such macroprudential policies ineffective and potentially counterproductive for financial stability.

SEC Charges Founder Of Frank With Fraud In Connection With $175 Million Sale Of Student Loan Assistance Company

Date 04/04/2023

The Securities and Exchange Commission today charged Charlie Javice, the founder of the now shuttered student loan assistance company previously known as Frank, with fraud in connection with the $175 million sale of the company to JPMorgan Chase Bank, N.A., (JPMC) in 2021. The SEC’s complaint alleges that Javice orchestrated a scheme to deceive JPMC into believing that Frank had access to valuable data on 4.25 million students who used Frank’s service when in reality the number was less than 300,000.

Purdue University/CME Group Ag Economy Barometer: Commodity Price Outlook And Interest Rate Concerns Cloud Farmer Sentiment

Date 04/04/2023

Farmer sentiment weakened ­again in March as the Purdue University/CME Group Ag Economy Barometer fell 8 points to a reading of 117. Both of the barometer's sub-indices declined 8 points in March, leaving the Current Conditions Index at 126 and the Future Expectations Index at 113. The Ag Economy Barometer is calculated each month from 400 U.S. agricultural producers' responses to a telephone survey. This month's survey was conducted between March 13-17, which coincided with the demise of Silicon Valley Bank and Signature Bank.

OCC Clears Over 1B Total Contracts In March 2023, Highest Month On Record And Up 12.2% Year-Over-Year

Date 04/04/2023

OCC, the world's largest equity derivatives clearing organization, announced today that year-to-date average daily volume through March 2023 was 46.3 million contracts, up 8.4 percent compared to year-to-date average daily volume through March 2022. Total volume was 1.1 billion contracts, up 12.2 percent compared to March 2022. March 2023 was the highest total volume month in OCC’s history and the first time cleared contract volume surpassed 1 billion contracts in a single month.

Inflation Persistence And Monetary Policy − Speech By Huw Pill, Bank Of England, Chief Economist And Executive Director, Monetary Analysis, ICMB Lecture, Graduate Institute, Geneva

Date 04/04/2023

Eventus Appoints Jonathan Dixon As Director Of Regulatory Affairs, EMEA & MENA

Date 04/04/2023

Eventus, a global provider of multi-asset class trade surveillance and market risk solutions, has appointed Jonathan Dixon as Director of Regulatory Affairs, EMEA & MENA, where he will work closely with clients and industry bodies to champion regulatory effectiveness to protect them from market malfeasance. 

UK Prudential Regulation Authority Censures Wyelands Bank Plc For Breaching Large Exposure Limits And Failings In Its Governance, Controls And Risk Management

Date 04/04/2023

The Prudential Regulation Authority (PRA) has censured Wyelands Bank Plc (Wyelands) for wide-ranging significant regulatory failings between 21 December 2016 and 28 May 2020, which spanned breaches relating to large exposure limits, capital reporting, governance and risk controls and PRA Own Initiative Requirements (OIREQs) and poor retention of WhatsApp messages. This is the first time the PRA has taken action against a firm for breaches of large exposure limits and found a breach of PRA Fundamental Rule 3 (requiring a firm to act in a prudent manner). The seriousness of the breaches justifies a substantial fine of £8,515,000. However, Wyelands is in wind down and the PRA accepted that it has very limited financial resources. The PRA has concluded that fining Wyelands would not advance its general objective to promote the safety and soundness of firms.