News Centre

IIROC Board Of Directors Elected For 2020-21

Date 23/09/2020

At the Annual General Meeting of the Investment Industry Regulatory Organization of Canada (IIROC) on September 22, 2020, IIROC elected or re-elected individuals to serve on the IIROC Board of Directors.

Amendments To The Commission's Whistleblower Program Rules, SEC Commissioner Hester M. Peirce, Sept. 23, 2020

Date 23/09/2020

Thank you, Mr. Chairman.  The whistleblower program has, in its decade of existence, become an integral part of our enforcement program.  People have brought us countless tips, and many of those tips inform us for the first time of misconduct that needs to be investigated or help us connect the dots in an existing investigation.  Many of these whistleblowers would have come to us even in the absence of the prospect of an award.  Our ability to pay awards, however, enables us to recognize whistleblowers’ contributions to the integrity of our markets in a concrete way.  As Justice Ginsburg explained in Digital Realty Trust, Congress “recognize[ed] that ‘whistleblowers often face the difficult choice between telling the truth and committing ‘career suicide’.’”[1] An award may encourage an individual to make the difficult choice to tell the truth by replacing the income she loses if she is fired from her job and by providing some offset for the reputational, personal, and even physical threats that whistleblowers can endure as a result of alerting us to wrongdoing.

CME Group Announces First Trade Of New European Renewable Fuel Contract

Date 23/09/2020

CME Group, the world's leading and most diverse derivatives marketplace, today announced the first trade of the Used Cooking Oil Methyl Ester (UCOME) futures contracts. Ten contracts were traded on September 16, 2020. Open interest is at 65 contracts as of September 22, 2020.

CFTC Swaps Report Update

Date 23/09/2020

CFTC's Weekly Swaps Report has been updated, and is now available.

Federal Reserve: Optimism In The Time Of COVID, Vice Chair For Supervision Randal K. Quarles, At The 2020 Virtual D.C. Summit, Institute Of International Bankers, Washington, D.C. (Via Webcast)

Date 23/09/2020

I want to thank the Institute of International Bankers for inviting me to discuss the outlook for the global and U.S. economies at what I believe is an important juncture in the evolution of what I refer to as the "COVID event": the outbreak of COVID-19 and the government and social response to it.

Statement At Open Meeting On Procedural Requirements And Resubmission Thresholds Under Exchange Act Rule 14a-8, SEC Commissioner Hester M. Peirce, Sept. 23, 2020

Date 23/09/2020

Thank you, Chairman Clayton. I support today’s amendments to certain procedural requirements and the resubmission thresholds under the shareholder proposal rule. While it can be difficult to discern the signal from the noise around today’s amendments, the reality of the situation is that we are making simple, sensible, and long over-due changes to the shareholder proposal rule.

MIAX Options And MIAX Emerald Have Changed The Opening And Intra-Day Quote Width And Minimum Quote Size Requirements For Several Symbols Effective On Thursday, September 24, 2020

Date 23/09/2020

The symbols listed below will have a maximum valid quote width of $10.00 and a minimum quote size requirement of one (1) contract.

• ADBE   Adobe, Inc.
• CRM    Salesforce.com, Inc.
• NVDA  NVIDIA Corporation
• ZM       Zoom Video Communications, Inc.

Statement On Procedural Requirements And Resubmission Thresholds Under Exchange Act Rule 14a-8, SEC Commissioner Caroline A. Crenshaw, Sept. 23, 2020

Date 23/09/2020

Today the majority of the Commission is approving amendments to the procedures governing shareholder proposals. The amendments are described as a “modernization,” designed to reduce costs for corporations. Even if I agreed that was necessary, I cannot agree with the method.

Office Of The Comptroller Of The Currency Reports Decline In Mortgage Performance

Date 23/09/2020

The Office of the Comptroller of the Currency (OCC) reported the performance of first-lien mortgages in the federal banking system declined during the second quarter of 2020.

Statement On The Amendments To Rule 14a-8, SEC Commissioner Allison Herren Lee, Sept. 23, 2020

Date 23/09/2020

The final rules represent the capstone in a series of policies that will dial back shareholder oversight of management at the companies they own. Last year, the Commission adopted guidance on proxy advisors and proxy solicitation that made it more difficult and costly for investment advisers to vote shares on behalf of their clients in reliance on independent proxy voting advice. Then, earlier this year, the Commission adopted new rules and additional guidance related to proxy advisors that injected further cost and complexity into the voting process and mandated greater issuer involvement in proxy voting decisions. Having made it more difficult for shareholders to exercise their voting rights, the Commission now adopts amendments that will narrow access to another important mechanism for shareholder oversight: the shareholder proposal process. These actions collectively put a thumb on the scale for management in the balance of power between companies and their owners.