Mondo Visione Worldwide Financial Markets Intelligence

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  • Nadex Temporary Outage

    Date 16/10/2020

    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”) submitted an emergency action to the Commission on October 16, 2020 providing notice that on trade date Friday, October 16, 2020, the Nadex trading platform was impacted when shortly after the 6:00pm ET open the Exchange experienced a technical issue that caused a temporary trading outage.  The issue was corrected and service was restored at approximately 6:35pm ET.

  • CFTC Commitments Of Traders Update

    Date 16/10/2020

    The current reports for the week of October 13, 2020 are now available.

  • Who Watches the Watchers?* Joint Statement On Auditor Independence Amendments, SEC Commissioner Allison Herren Lee, SEC Commissioner Caroline A. Crenshaw, Oct. 16, 2020

    Date 16/10/2020

    Auditors play a crucial role in promoting public trust in our markets by providing assurances about the reliability of financial disclosures. This role has been described as a “public watchdog” function that “demands that the accountant maintain total independence from the client at all times and requires complete fidelity to the public trust.” Those clients, however, hire and pay their own watchdogs, prompting the late, distinguished securities law professor Lynn Stout to observe “[w]hen the people being watched get to choose their watchdog, they’re not going to choose the toughest animal around.” The import of this observation is not to impugn motives, but to point out that there is an obvious and inherent conflict of interest in the so-called “issuer pays” model used in public auditing. This conflict would be significant even if auditing fees were its only source. But in recent years, audit fees at the Big Four accounting firms have been dwarfed by even more lucrative consulting, tax, and other non-audit services offered by large accounting firms, which now account for close to two-thirds of overall revenues.

  • SEC Updates Auditor Independence Rules, Amendments Reflect Staff Experience Applying The Auditor Independence Framework

    Date 16/10/2020

    The Securities and Exchange Commission today announced that it adopted final amendments to certain auditor independence requirements in Rule 2-01 of Regulation S-X.  Informed by decades of staff experience applying the auditor independence framework, the final amendments modernize the rules and more effectively focus the analysis on relationships and services that may pose threats to an auditor’s objectivity and impartiality.  

  • Nigerian Stock Exchange Weekly Market Report For October 16th 2020

    Date 16/10/2020

    A total turnover of 1.955 billion shares worth N22.978 billion in 22,844 deals were traded this week by investors on the floor of the Exchange, in contrast to a total of 3.140 billion shares valued at N35.372 billion that exchanged hands last week in 35,099 deals.