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US Department Of Justice: Wells Fargo Agrees To Pay $3 Billion To Resolve Criminal And Civil Investigations Into Sales Practices Involving The Opening Of Millions Of Accounts Without Customer Authorization - $3 Billion Payment Result Of Deferred Prosecution Agreement In Criminal Matter, Settlement Of Civil Claims Under FIRREA And Resolution Of SEC Proceedings

Date 21/02/2020

Wells Fargo & Company and its subsidiary, Wells Fargo Bank, N.A., have agreed to pay $3 billion to resolve their potential criminal and civil liability stemming from a practice between 2002 and 2016 of pressuring employees to meet unrealistic sales goals that led thousands of employees to provide millions of accounts or products to customers under false pretenses or without consent, often by creating false records or misusing customers’ identities, the Department of Justice announced today. 

Statement From Mike Bloomberg On Non-Disclosure Agreements

Date 21/02/2020

I’ve had the company go back over its record and they’ve identified 3 NDAs that we signed over the past 30-plus years with women to address complaints about comments they said I had made. If any of them want to be released from their NDA so that they can talk about those allegations, they should contact the company and they’ll be given a release. I’ve done a lot of reflecting on this issue over the past few days and I’ve decided that for as long as I’m running the company, we won’t offer confidentiality agreements to resolve claims of sexual harassment or misconduct going forward.

SEC: Wells Fargo To Pay $500 Million For Misleading Investors About The Success Of Its Largest Business Unit - Payment Will Be Distributed To Harmed Investors

Date 21/02/2020

The Securities and Exchange Commission today charged California-based Wells Fargo & Co. for misleading investors about the success of its core business strategy at a time when it was opening fake accounts for unknowing customers and selling unnecessary products that went unused. Wells Fargo has agreed to pay $500 million to settle the charges, which will be returned to investors. The $500 million payment is part of a combined $3 billion settlement with the SEC and the Department of Justice.

CFTC Wins Forex Fraud Trial On Damages And Obtains Monetary Judgment Of More Than $22.6 Million - Court Releases Pallet Of Foreign Currency Valued At $2.5M To CFTC

Date 21/02/2020

The Commodity Futures Trading Commission today announced that following a bench trial the U.S. District Court for the Middle District of Alabama entered a final judgment against defendants Husam Tayeh of Illinois and his companies, Dinar Corp., Inc. and My Monex, Inc., both Nevada corporations. The court’s ruling orders the defendants to pay more than $22.6 million in disgorgement and civil monetary penalties in connection with Tayeh’s fraudulent foreign currency (forex) scheme. The court previously found the defendants liable for violations of the Commodity Exchange Act, including fraud.

SIFMA Statement On Massachusetts Fiduciary Rule

Date 21/02/2020

SIFMA today issued the following statement from Kenneth E. Bentsen, Jr., SIFMA president and CEO on a final rule issued in Massachusetts to create a state-specific fiduciary standard for broker-dealers and their representatives:

“We look forward to reviewing the rule with particular attention on whether it is consistent with existing federal fiduciary and best interest standards to which our members are subject, or whether it may conflict in ways – whether intended or unintended – that would impede our members from best serving their retail clients.”

CFTC Commitments Of Traders Update

Date 21/02/2020

The current reports for the week of February 18, 2020 are now available.

ICE To Recommence Emissions Auctions On Behalf Of The UK Government Publishes Auction Calendar For 2020

Date 21/02/2020

Intercontinental Exchange (NYSE: ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, announces that EU Emissions Trading System (EU ETS) allowance auctions will re-start on ICE Futures Europe on behalf of the UK Government’s Department of Business, Energy and Industrial Strategy (BEIS) and today publishes the auction calendar for 2020.

Financial Markets And Monetary Policy: Is There A Hall Of Mirrors Problem?, Federal Reserve Vice Chair Richard H. Clarida At The 2020 U.S. Monetary Policy Forum, Sponsored By The Initiative On Global Markets At The University Of Chicago Booth School Of Business, New York, New York

Date 21/02/2020

Thank you to the conference organizers for inviting me here to discuss what former Chair Bernanke has famously referred to as a "hall of mirrors" problem: a situation in which a central bank's reaction function and financial market prices interact in economically suboptimal and potentially destabilizing ways. In my remarks today, I will lay out the way I think about the interplay between financial markets and monetary policy, with a focus on how I myself seek to integrate noisy but often correlated signals about the economy that I glean from models, surveys, and financial markets.

CFTC Commissioner Stump To Participate In A Fireside Chat At The Joint Deutsche Bundesbank - European Central Bank - Federal Reserve Bank Of Chicago Conference In Frankfurt, Germany

Date 21/02/2020

Cboe Global Markets To Present At The Credit Suisse 2020 Financial Services Forum On Thursday, February 27

Date 21/02/2020

Cboe Global Markets, Inc. (Cboe: CBOE), one of the world's largest exchange holding companies, announced today that Ed Tilly, Chairman, President and Chief Executive Officer, and Brian Schell, Executive Vice President, Chief Financial Officer and Treasurer, will present at the Credit Suisse 2020 Financial Services Forum on Thursday, February 27, at 12:00 p.m. (Eastern Time).