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Statement On SEC Settlement Charging Token Issuer With Violation Of Registration Provisions Of The Securities Act Of 1933, SEC Commissioner Hester M. Peirce, Sept. 15, 2020

Date 15/09/2020

Today’s settlement with Unikrn, Inc., is the latest in a growing line of enforcement actions arising from initial coin offerings. While many SEC enforcement actions in this space include allegations of fraud, Unikrn falls within the narrower category of token issuers charged only with violating Section 5 of the Securities Act. In other words, Unikrn is alleged to have offered and sold its tokens in an unregistered offering and in a manner that did not qualify for an exemption; it is not alleged to have engaged in any fraud in doing so. Registration violations, even standing alone, are serious, and our enforcement actions can serve to deter such violations and protect harmed investors. We should strive to avoid enforcement actions and sanctions, however, that enervate innovation and stifle the economic growth that innovation brings. I believe that this action and its accompanying sanctions will have such consequences.
CFTC Staff Provides No-Action Relief to Registrant from SEF Reinstatement Requirements

Date 15/09/2020

The Commodity Futures Trading Commission’s Division of Market Oversight (DMO) today granted temporary no-action relief to Tassat Derivatives LLC, a CFTC-registered swap execution facility (SEF), from SEF reinstatement requirements under CFTC Regulation 37.3(d), subject to certain conditions.

Moscow Exchange: Risk Parameters For New Bonds

Date 15/09/2020

New bonds will be accepted to margin trading starting from 16.09.2020. From this date on, the following risk parameters will be applied:

№	Ticker	Minimum Initial Margin for the Market Risk, %			Concentration Limit, # of securities
№	Ticker	Level 1, S_1_min	Level 2, S_2_min	Level 3, S_3_min	Level 1	Level 2
1	SU52003RMFS9	11%	12%	13%	1 000 000	5 000 000

IIROC: Best Practices For Electronic Proceedings

Date 15/09/2020

Due to the COVID-19 pandemic, in-person hearings at IIROC have been postponed or converted into electronic hearings, proceeding by either telephone or videoconference. To provide guidance on the conduct of electronic hearings, IIROC has issued the IIROC Hearing Committee Best Practices for Electronic Proceedings. The Best Practices also outline the minimum technical requirements for electronic proceedings.
British Columbia Securities Commission: Total Market Value Of British Columbia’s Publicly Listed Companies Grows After Initial Impact Of COVID-19

Date 15/09/2020

The total value of British Columbia’s publicly listed companies dropped 26 per cent in the first few weeks of the COVID-19 pandemic, but then climbed above December 2019 levels, according to a new report from the British Columbia Securities Commission (BCSC).

Canadian Securities Regulators Provide Update On Timing Of Annual Report On Women On Boards And In Executive Officer Positions

Date 15/09/2020

The securities regulatory authorities in Alberta, Manitoba, New Brunswick, Nova Scotia, Ontario, Québec and Saskatchewan (the participating jurisdictions) are providing an update on the timing of the annual report on women on boards and in executive officer positions. The report summarizes results from the participating jurisdictions’ review focusing on disclosure requirements regarding the representation of women on boards and in executive officer positions, as set out in National Instrument 58-101 Disclosure of Corporate Governance Practices.
SEC: Unregistered ICO Issuer Agrees To Disable Tokens And Pay Penalty For Distribution To Harmed Investors

Date 15/09/2020

The Securities and Exchange Commission today announced charges against Unikrn Inc., an operator of an online eSports gaming and gambling platform headquartered in Seattle, Washington, for conducting an unregistered initial coin offering (ICO) of digital asset securities. Unikrn agreed to settle the charges by paying a $6.1 million penalty, substantially all of the company's assets, to be distributed to investors through a Fair Fund.
CFTC Staff Provides Relief And Further Guidance Regarding FCM Separate Account Practices

Date 15/09/2020

The Commodity Futures Trading Commission’s Division of Swap Dealer and Intermediary Oversight (DSIO) and Division of Clearing and Risk (DCR) today issued a joint staff letter containing an advisory and time limited, conditional no-action relief related to the treatment by futures commission merchants (FCMs) of separate accounts for a particular customer.
TheCityUK: Economic Outlook Improving, But Data Shows Huge SME Debt Challenge Remains

Date 15/09/2020

TheCityUK’s Recapitalisation Group (RCG), supported by EY, has today published updated projections for levels of unsustainable debt faced by SMEs. An improved outlook for the economy, due in part to Government stimulus, has led to a fall in the projected level of unsustainable debt, but the recapitalisation of UK SMEs remains a huge challenge, which will be a drag on the long-term return to economic growth.
CFTC: Federal Court Orders Illinois Software Development Firm To Pay Penalty And Disgorgement For Aiding And Abetting Illegal Conduct

Date 15/09/2020

The Commodity Futures Trading Commission today announced that the U.S. District Court for the Northern District of Illinois entered a consent order of permanent injunction against Edge Financial Technologies, LLC, an Illinois firm that provided software development and computer programming services for traders. This ruling resolves a 2018 enforcement action brought in connection with the Division of Enforcement’s Spoofing Task Force. [See CFTC Press Release No. 7689-18]