News Centre

SEC Issues Agenda For Nov. 12 Meeting of Small Business Capital Formation Advisory Committee

Date 06/11/2019

The Securities and Exchange Commission today released the agenda for the Tuesday, Nov. 12 meeting of its Small Business Capital Formation Advisory Committee. The committee provides the Commission with advice and recommendations on Commission rules, regulations and policy matters relating to small businesses, from privately-held emerging companies to smaller public companies. Additional information on the committee, including its members, is available on the committee webpage.

CFTC Swaps Report Update

Date 06/11/2019

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

FINRA Orders Merrill Lynch, Pierce, Fenner & Smith Inc., Raymond James & Associates, Inc., And Raymond James Financial Services, Inc. To Pay More Than $12 Million In Restitution To Customers For Supervisory Failures Involving 529 Plan Share Classes - Firms Failed To Reasonably Supervise 529 Plan Share-Class Recommendations Made To Customers; Matters Identified Prior To FINRA Initiative Launched In January

Date 06/11/2019

FINRA announced today that Merrill Lynch, Pierce, Fenner & Smith Incorporated (Merrill Lynch), Raymond James & Associates, Inc. (RJA), and Raymond James Financial Services, Inc. (RJFS) have agreed to pay a total of approximately $12 million in restitution to customers who incurred excess fees on their investments in 529 savings plans based on the firms’ failures to reasonably supervise 529 plan share-class recommendations. Merrill Lynch has agreed to pay restitution of at least $4 million relating to the sale of Class C shares to 529 plan accounts with young beneficiaries. RJA has agreed to pay more than $3.8 million in restitution and RJFS has agreed to pay $4.2 million in restitution.

What You Don’t Know Can Hurt You, Stephanie Avakian, SEC Co-Director, Division Of Enforcement, London, England, Nov. 5, 2019

Date 06/11/2019

Introduction

 Good morning and thank you for inviting me to speak today. Before I begin, let me give the required disclaimer that the views I express here today are my own and do not necessarily represent the views of the Commission or its staff.

I am honored to be the speaker for the first talk in the Scott Friestad lecture series. I know Scott was an active participant in this conference and that many of you knew him well, and I ask your indulgence while I say a few words about him. 

Alberta Securities Commission Encourages Albertans To Know Their ABCs: Financial Literacy Month Focuses On Informed Investing

Date 06/11/2019

November is Financial Literacy Month, a time when the Alberta Securities Commission (ASC) encourages Albertans to enhance their financial knowledge. As part of its mission to protect investors, the ASC has launched a campaign to encourage Albertans to become more financially literate.   

Miami International Holdings Acquires Controlling Interest In The Bermuda Stock Exchange - Electronic Trading Leader Will Leverage BSX’s Well-Established Financial Reputation And New Digital Asset Focus To Further Diversify Its Electronic Exchange Offerings

Date 06/11/2019

Miami International Holdings, Inc. (MIH), the parent holding company of the MIAX®, MIAX PEARL® and MIAX Emerald™ options exchanges (the MIAX Exchange Group™), and the Bermuda Stock Exchange (BSX) today announced that MIH has acquired a controlling interest in the BSX. The controlling interest aligns directly with MIH’s corporate strategy and allows the company to expand its world-class technology, derivatives trading and regulatory expertise.

SEC Charges Adviser For Running Ponzi Scheme Targeting Haitian Community

Date 06/11/2019

The Securities and Exchange Commission today filed charges against a New York investment adviser for operating a multimillion-dollar investment club that was actually a fraudulent Ponzi scheme targeting members of the local Haitian community as well as his family and friends.

Commodities Resist Positive Events And Press Lower- A PMI Surprise, A Fed Rate Cut, And Trade Optimism Failed To Buoy Commodity Markets-William May, Senior Economist, IHS Markit

Date 06/11/2019

The IHS Markit Materials Price Index (MPI) fell 1.5% last week, its sixth straight decline, despite a flurry of bullish news and data releases. The good news came from a number of sources last week: the US Federal Reserve cut interest rates again, the October Chinese manufacturing PMI posted its best reading in over two years and President Trump said he would press ahead with plans to sign a 'limited trade truce' with President Xi at a new venue after the cancellation of December's APAC summit in Chile. Still commodity markets retreated on continuing worry about demand growth, with seven of the MPI’s ten sub-components falling.

Meeting The Pace Of Technological Change - Speech By Nick Cook, Director Of Innovation At The FCA, Delivered At The Chief Data Officer Exchange Financial Services Conference In London

Date 06/11/2019

Highlights

• The FCA must adapt to keep pace with technology-led change in the markets it regulates
• The FCA asks itself whether its innovation services could be enhanced to broaden relevance and appeal
• The FCA is keen to stimulate developments that respond to the challenges of climate change and vulnerable customers
• The FCA is looking at ways to better support RegTech solutions through the creation of  a ‘digital sandbox’

SEC Enforcement Report Praises Whistleblowers

Date 06/11/2019

The U.S. Securities and Exchange Commission (“SEC”) today released the annual report from its Office of Enforcement confirming the critical role the Dodd-Frank Act whistleblower reward program is playing in protecting investors from fraud.