News Centre

SEC Proposes To Modernize The Advertising And Cash Solicitation Rules For Investment Advisers

Date 04/11/2019

The Securities and Exchange Commission today announced that it has voted to propose amendments to modernize the rules under the Investment Advisers Act addressing investment adviser advertisements and payments to solicitors. The proposed amendments are intended to update these rules to reflect changes in technology, the expectations of investors seeking advisory services, and the evolution of industry practices.

Nasdaq October 2019 Volumes

Date 04/11/2019

Nasdaq (Nasdaq: NDAQ) today reported monthly volumes for October 2019, on its investor relations website. 

SEC Announces Extension Of Temporary Measure To Facilitate Cross-Border Implementation Of The European Union's MiFID II's Research Provisions

Date 04/11/2019

Today the staff of the U.S. Securities and Exchange Commission issued an extension of an Oct. 26, 2017 no-action letter it provided to assist market participants regarding their U.S.-regulated activities as they engage in efforts to comply with the provisions relating to research in the Markets in Financial Instruments Directive II (MiFID II) and related implementing rules and regulations. Under the extension of the temporary no-action letter, the staff would not recommend enforcement action to the Commission under the Investment Advisers Act of 1940 (Advisers Act) against broker-dealers receiving payments in hard dollars or through research payment accounts from clients subject to MiFID II. This no-action letter, which was set to expire July 3, 2020, has been extended until July 3, 2023. Separately, the extension letter notes the continued ability of broker-dealers to receive payments for research under section 28(e) of the Securities Exchange Act of 1934 through client commission arrangements (CCAs), including that the use of CCAs does not affect whether the exclusion for broker-dealers from the definition of “investment adviser” under the Advisers Act may be available.

“Today’s extension of the staff’s no-action letter is an important step in our continued efforts to address changes in the market for research payments driven by MiFID II with an eye toward preserving investor access to research to the maximum extent possible,” said SEC Chairman Jay Clayton. “The impacts of MiFID II are evolving, as EU authorities and regulators in individual EU member states evaluate its effects and consider whether to modify their rules. Today’s extension will allow our staff to continue to monitor the evolving impact of MiFID II and evaluate whether any additional guidance or Commission action is appropriate. In this regard, our staff is focused on ensuring that market participants have flexibility and choice in how they pay for research.”

B3: Ibovespa Breaks New Record And Reaches 108.779 Points

Date 04/11/2019

B3’s market performance index – Ibovespa – hit a record high today ending the day at 108.779 points, up 0.53% from last trading session.

CFTC Charges Companies And Associates With Failing To Register With The CFTC

Date 04/11/2019

The U.S. Commodity Futures Trading Commission today issued an order filing and settling charges against Silver Star FX, LLC d/b/a Silver Star Live (SSL) of New Mexico and Silver Star Live Software LLC (SSLS) of Florida, and two officers of those firms, Candace Ross-Mahmoud and Hassan Mahmoud of California (collectively, respondents). In its order, the CFTC found that SSL and SSLS acted as unregistered commodity trading advisors and that Ross-Mahmoud and Mahmoud acted as unregistered associated persons of both SSL and SSLS. The order requires the respondents, who are jointly and severally liable, to pay a $75,000 civil monetary penalty and to cease and desist from future violations of the Commodity Exchange Act.

Innovation leaders from Fidelity Investments and FinTech Sandbox to Keynote at TABB Group's FinTech Festival on Nov 13 in NYC - Fidelity Investments’ Mona Vernon and Vantage Ventures’ Sarah Biller, Co-Founder of FinTech Sandbox, to Speak to “Evolutionary Capital Markets: How to Thrive in Open AI-Powered Platform Economy” in Keynote Address - RocketFin’s Espen Skogen and Glue42’s James Wooster Set to Present “Behavior Mining: Finding Alpha in User-Behavior Analysis”

Date 04/11/2019

Continuing its position as one of the capital markets industry’s leading financial-technology conference producers in the U.S. for the past 13 years, TABB Group has assembled one of its strongest programs with experts drawn from the asset management and capital markets to discuss how buy-side and sell-side financial technology are reshaping capital markets ecosystems.

Remarks To The Securities And Exchange Committee Fixed Income Market Structure Advisory Committee, SEC Commissioner Robert J. Jackson Jr., Nov. 4, 2019

Date 04/11/2019

Good morning, and thanks to all of you once again for joining us at today’s meeting of the Fixed Income Market Structure Advisory Committee (FIMSAC). Since my very first day on the Commission—when I began this job by attending my first FIMSAC meeting—I have been consistently impressed with the exceptional work of this Committee. I am grateful to each of you for your service to the Commission and the Nation’s investors, and as we meet for the last time this year I look forward to hearing from the Committee on today’s discussions about credit ratings and financial benchmarks. I also wanted to share two thoughts of my own as the Committee continues its work next year.

NZX Shareholder Metrics October 2019

Date 04/11/2019

Please see attached NZX shareholder metrics for October 2019.

SEC Chairman Clayton, PCAOB Chairman Duhnke, And Members of SEC Staff Meet With Auditing Firm Representatives To Discuss Audit Quality In Emerging Economies And Markets

Date 04/11/2019

The Securities and Exchange Commission today announced that SEC Chairman Jay Clayton, Public Company Accounting Oversight Board (PCAOB) Chairman William Duhnke, and members of the SEC staff met last week with senior representatives of the four largest global network auditing firms to discuss the audit quality and certain of the challenges faced in auditing public company operations in emerging markets, including China, the largest emerging market economy.  The discussions emphasized the need for effective and consistent global firm oversight of member firms, including those operating in emerging markets.  The discussions also focused on the design and implementation of audit procedures that are tailored to reflect changes in risk.

CFTC Charges Alabama Resident And His Company With Binary Options Fraud

Date 04/11/2019

The U.S. Commodity Futures Trading Commission today filed a civil enforcement action in the U.S. District Court for the Northern District of Alabama charging Aaron B. Butler and his company, Negus Capital Incorporated (NCI), both of Alabama, with fraudulent solicitation, misappropriation, and registration violations in connection with binary options trading.