News Centre

SEC Files Charges In Ponzi Scheme Targeting Hispanic Community

Date 19/12/2019

The Securities and Exchange Commission today announced charges against Edward Espinal, of Wayne, New Jersey, and his company, Cash Flow Partners LLC, in connection with an alleged $5 million Ponzi scheme that defrauded at least 90 investors, many of whom were members of the Hispanic community.

Revised: U.S. Chamber Statement On House Passage Of USMCA - Chamber’s Donohue: ‘One Step Closer To Realizing The Substantive Benefits Of USMCA’

Date 19/12/2019

U.S. Chamber of Commerce CEO Thomas J. Donohue issued the following statement today after the U.S. House of Representatives passed USMCA on a bipartisan basis:

“Today’s vote brings the U.S. one step closer to realizing the substantive benefits of USMCA. While no deal is perfect, USMCA’s updated rules on digital trade, non-tariff barriers, and services promise real benefits to American businesses and consumers. USMCA is a welcome gift this holiday season, leveling the playing field for trade in North America and helping U.S. companies compete in our top two export markets."

Statement On Appointment Of New Chair And Five New Members Of The Financial Accounting Foundation Board Of Trustees, And Appointment Of Next Chair Of The Financial Accounting Standards Board - SEC Chairman Jay Clayton, SEC Commissioner Robert J. Jackson Jr., SEC Commissioner Hester M. Peirce, SEC Commissioner Elad L. Roisman, SEC Commissioner Allison Herren Lee

Date 19/12/2019

High quality, reliable financial statements form the bedrock of our U.S. capital markets.  By setting accounting and reporting standards for U.S. companies, nonprofit organizations and state and local governments, the Financial Accounting Standards Board (FASB) and Governmental Accounting Standards Board (GASB) play critical roles in promoting effective financial reporting to investors.  The Board of Trustees of the Financial Accounting Foundation (FAF) maintains important responsibility for the oversight, administration and finances of the FASB and GASB.  Through its oversight of these organizations, the FAF helps promote an independent and effective standard-setting process.

MIAX: Electronic Filing Of Annual Reports

Date 19/12/2019

This alert is a reminder that, in connection with the Regulatory Services Agreement between MIAX PEARL and FINRA, the filing of annual report has been transitioned to the electronic filing platform available via FINRA’s Firm Gateway located at https://firms.finra.org.

AFME, FIA, ICMA, ISDA And ISLA Publish Master Regulatory Reporting Agreement

Date 19/12/2019

The Association of Financial Markets in Europe (AFME), Futures Industry Association (FIA), International Capital Market Association (ICMA), International Swaps and Derivatives Association, Inc. (ISDA) and International Securities Lending Association (ISLA) have published a new agreement intended to simplify reporting across different European Union regulatory regimes.

FINRA Fines Robinhood Financial, LLC $1.25 Million For Best Execution Violations

Date 19/12/2019

FINRA announced today that it has fined Robinhood Financial, LLC $1.25 million for best execution violations related to its customers’ equity orders and related supervisory failures that spanned from October 2016 to November 2017. As part of the settlement, Robinhood also agreed to retain an independent consultant to conduct a comprehensive review of the firm’s systems and procedures related to best execution.

Canadian Securities Regulators Move Forward With Embedded Commissions Bans

Date 19/12/2019

Canadian securities regulators announced today that they will ban two types of commissions that are embedded in some mutual fund purchases.

Nodal Exchange And IncubEx To Launch First Physically Delivered Low Carbon Fuel Standard (LCFS) Futures

Date 19/12/2019

Nodal Exchange and IncubEx announced they will launch the first physically delivered California Low Carbon Fuel Standard (LCFS) futures contract on January 24, 2020, pending regulatory review.

Intercontinental Exchange Reaches Open Interest Records In Brent Crude Oil Futures And TTF Natural Gas

Date 19/12/2019

Intercontinental Exchange, Inc. (NYSE:ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, today announced record open interest of 2.71 million contracts in Brent Crude Oil futures and 2.21 million contracts in TTF futures and options. As of December 17, and on a year-over-year basis, Brent Crude Oil futures open interest is up 22% versus the prior year, while open interest across TTF futures and options is up 73%.

The Updated Coefficients For Moscow Exchange Indices To Come Into Force

Date 19/12/2019

The following coefficients for Moscow Exchange indices come into force from December 20, 2019: