News Centre

Ontario Securities Commission Announces Leadership Of New Office Of Economic Growth And Innovation - OSC’s Pat Chaukos To Lead The Office; Entrepreneur And Financial Industry Veteran Doug Steiner Joins The OSC In Senior Advisory Role

Date 17/06/2020

The Ontario Securities Commission (OSC) today announced the leadership of its newly-established Office of Economic Growth and Innovation (Office). A central part of the Ontario Government’s five-point capital markets plan, the new office focuses on accelerating innovation, bolstering capital formation and reducing regulatory burden in Ontario’s capital markets.

Nadex Product Schedule For The China Holidays On June 25 And 26, 2020

Date 17/06/2020

Due to the China holiday on Thursday, June 25, and Friday, June 26, 2020, the China 50 contracts will have a modified trading schedule. Please refer to the Holiday Product Schedule Guidelines for specific product trading hours.

Exchange Traded Funds In Volatile Markets - Understanding The Disconnect Between Price & Net Asset Value, By Mark Heckert, Chief Product Officer, ICE Data Services, June 2020

Date 17/06/2020

The ETF industry has blown away the growth expectations of its creators in the 1990s. While equities were the initial beneficiaries of investor appetite, bond ETF assets have surged since the 2008 financial crisis. Now bond ETFs - which give broad exposure to fixed income via a single exchange listed instrument - have highlighted challenges within the bond market structure.

EBA Publishes Its First Peer Review Of The Stress Tests And The Resilience Of Deposit Guarantee Schemes (DGSs)

Date 17/06/2020

• DGS stress tests have become an established tool to prepare for DGS interventions;
• The EBA considers the overall resilience of DGSs to be “fair”, which is the second best result possible and means that any shortcomings identified by DGSs are unlikely to affect the ability of DGSs to perform their tasks;
• For future peer reviews, the DGS stress testing framework would benefit from improvements to enhance comparability and consistency of reported outcomes.

SEC Names Jennifer S. Leete As Associate Director In Enforcement Division

Date 17/06/2020

The Securities and Exchange Commission today announced that Jennifer S. Leete has been named Associate Director in the SEC’s Division of Enforcement.  Ms. Leete succeeds Antonia Chion, who retired from the agency in February 2020.  In her new role, she will supervise approximately 50 attorneys, paralegals, and staff responsible for investigating a wide variety of securities law violations.

EBA Makes Changes To Its Q&A Tool

Date 17/06/2020

The European Banking Authority (EBA) has expanded the scope of its Questions and Answers (Q&A) process and tool to enable the submission of questions on the Anti-Money-Laundering Directive and Consumer Protection legislation under the EBA’s scope. Going forward, submitted questions, subject to meeting the prescribed criteria, will be published on the EBA website while their answers are being prepared. The EBA has also made some changes to expand and update its online Interactive Single Rulebook.

CFTC: Federal Court Orders Alabama Man To Pay $755,000 For Binary Options Fraud

Date 17/06/2020

The Commodity Futures Trading Commission today announced that the U.S. District Court for the Northern District of Alabama issued an order granting a permanent injunction against Aaron B. Butler, a former resident of Muscle Shoals, Alabama, and requiring him to pay a combined $755,000 in restitution and civil monetary penalty for violations of the Commodity Exchange Act and CFTC regulations. The order also imposes permanent trading and registration bans on Butler, among other injunctive relief.

Duff & Phelps Comment: UK Financial Conduct Authority Fines Commerzbank London £37,805,400 Over Anti-Money Laundering Failures

Date 17/06/2020

Following the big fine from the FCA to Commerzbank earlier today, Nick Bayley, Managing Director and Head of UK Regulatory Consulting at Duff & Phelps said:

“This action by the FCA reinforces the level of work required by firms to meet their AML obligations. The UK regulator’s continued concern about firms’ money laundering control is a focus we see mirrored across all the other major financial centres in the world.”

ESMA Publishes Example Of An Annual Financial Report In ESEF Format

Date 17/06/2020

The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, today publishes on its website an example of an annual financial report which is prepared in the new European Single Electronic Format (ESEF).

IFC – World Bank Group And African Development Bank Join Nasdaq Sustainable Bond Network

Date 17/06/2020

• The organizations are among world’s largest issuers of social bonds
• 4,000+ bonds from 40+ issuers now part of platform designed to improve sustainable bond transparency