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Nordic Prime Minister's Back Investment Mobilisation From Institutional Investors In Green Recovery And Climate Action

Date 28/10/2020

BIS: Have The Driving Forces Of Inflation Changed In Advanced And Emerging Market Economies?

Date 28/10/2020

Summary

Focus

Inflation has remained remarkably stable in many economies since the Great Financial Crisis (GFC). The fact that inflation did not fall as much as might have been expected given the high degree of economic slack during the crisis or rise much in the recovery afterwards has raised questions about what contributed to the recent stability of inflation and whether the slope of the Phillips curve has flattened. This paper empirically investigates possible structural changes in the driving forces of inflation and their quantitative effects before, during and after the GFC for a number of advanced and emerging market economies.

Opening Statement On Use Of Derivatives By Registered Investment Companies And Business Development Companies, SEC Commissioner Hester M. Peirce, Oct. 28, 2020

Date 28/10/2020

Thank you, Mr. Chairman. In 2015, when this rule was first proposed, someone could have designed a derivatives contract to shift the risk of the rule’s adoption: in exchange for periodic payments, the seller of derivatives rule protection would pay out big if the rule got adopted. The buyer of this protection would have made periodic payments over the years. The parties would have exchanged collateral during the course of the contract to reflect the changing likelihood that the rule would get adopted. There might have been a market for such a derivatives contract because, in the words of one commenter in response to the 2015 rule proposal: “The proposed rule would severely restrict investment companies’ use of derivatives and thereby limit investors’ investment opportunities while imposing significant new compliance and other obligations on the directors and risk managers of such funds.”  In hindsight, however, purchasers of such a derivatives contract could have done without it since today’s rule is a great improvement over its problematic 2015 forerunner.

UK Financial Conduct Authority Charges Stephen Allen With Conspiracy To Pervert The Course Of Justice

Date 28/10/2020

The FCA has commenced criminal proceedings against Stephen Allen following an investigation. Mr Allen appeared today by video link at Westminster Magistrates Court in relation to a charge of conspiring to pervert the course of justice.

BIS: Pass-Through From Short-Horizon To Long-Horizon Inflation Expectations, And The Anchoring Of Inflation Expectations

Date 28/10/2020

Summary

Focus

Inflation expectations are said to be anchored if long-horizon expectations do not change very much in response to shocks. Then any deviation in inflation from target will tend to revert over time. This gives central banks greater flexibility in deciding how to respond to shocks without losing control of inflation.

Statement On Regulation Of Funds' Use Of Derivatives, Commissioner Elad L. Roisman, Oct. 28, 2020

Date 28/10/2020

I am grateful to the staff of the Division of Investment Management (the “Division”) for their years of work developing the recommendation we are considering today: to adopt rules governing the ways funds use derivatives in their investment portfolios. I would also like to extend my thanks to our staff in the Division of Economic and Risk Analysis, the Office of the General Counsel, and all others at the agency who contributed to this effort.

JonesTrading Hires Industry Expert Jon Jefferies, Managing Director Equity Trading, New York

Date 28/10/2020

JonesTrading Institutional Services LLC (“JonesTrading”) announced today that Jon Jefferies has joined as a Managing Director of equity trading in the firm’s New York office. The move comes in a year of tremendous growth for the global trading firm, and will further enhance JonesTrading’s reputation as the leading unconflicted provider of equity block trading and global equity and option execution.  

Duck Creek Technologies Joins Madrid Fintech Cluster (MAD Fintech), An Initiative Between The Madrid City Council And The Ecofin Forum, Which Were Recently Joined By The Community Of Madrid

Date 28/10/2020

Duck Creek Technologies announced today that it has joined the Madrid Fintech (MAD Fintech) Cluster, as one of more than 100 founder companies of this initiative which has worked in its 14 Commissions and 5 Working Groups since day one. The Cluster’s goal is to convert Madrid into a world fintech capital by gathering the most innovative companies in the financial and insurance/insurtech industries – as well as other associations and both public and private institutions – to boost and develop the ecosystem in Madrid and throughout Spain.

UK Financial Conduct Authority, UK Pensions Regulator And UK Money And Pensions Service Joint Statement On Rolls-Royce Defined-Benefit Pensions Scheme

Date 28/10/2020

The FCA, the Pensions Regulator (TPR) and the Money and Pensions Service (MaPS) have been engaging with Rolls-Royce and the scheme’s Trustees in order to be vigilant against the risks associated with increased transfer requests as a consequence of redundancies.

European Accounting Enforcers To Enhance Transparency On Covid-19 Impact

Date 28/10/2020

The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has issued its annual Public Statement on European Common Enforcement Priorities (Statement), which sets out the priorities that EEA corporate reporting enforcers will consider when examining listed companies’ 2020 annual financial reports.