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Federal Court Orders Managed Fund And CEO To Pay More Than $17.2 Million In A Commodities Fraud Scheme

Date 15/10/2019

The U.S. Commodity Futures Trading Commission today announced a default judgment was entered on October 3rd against defendants Fabio Bretas de Freitas, of Miami, Florida, and Phy Capital Investments LLC, a registered commodity pool operator and commodity trading advisor, for fraud and misappropriation of client funds.
SEC Promotes Teacher Investment Outreach

Date 15/10/2019

The Securities and Exchange Commission today announced several teacher investment outreach efforts in connection with its Teachers Initiative. These initiatives include the launch of a podcast series for public school educators, nationwide events for teachers, and the RISE 2.0 of California summit in Los Angeles on Oct. 17. The outreach efforts advance the Commission’s commitment to protecting America’s educators when they invest in the securities markets by informing educators about the importance of savings and investing, researching investment products and financial professionals before investing, and identifying the red flags of investment fraud.
PIABA Foundation Study Warns Out-Of-Control Finra Broker Expungement Process Is “Broken,” Urges Independent Investor Advocate - Sham “$1.00 Expungement Cases” Are Exploited By Brokers, Lawyers To Line Up Friendly Arbitrators … And Cost FINRA Millions Of Dollars; Given Extent Of Abuses, FINRA’s BrokerCheck System No Longer Seen As A Reliable Information Source For Investors

Date 15/10/2019

An in-depth review of the handling of 1,078 FINRA arbitration cases from 2015-2018 where brokers sought to erase (or “expunge”) investor complaints from their record shows that the process is “broken” as a result of being “systematically gamed, exploited and abused” by brokers and brokerage firms. Among the key problems found: bogus “$1.00 Expungement Cases” involving the filing of sham charges in a bid to slash costs and reduce the number of arbitrators reviewing the request from three arbitrators to one; and gaming FINRA’s procedures and coordinating to select friendly arbitrators.
Statement On The Passing Of Chancellor William T. Allen, SEC Commissioner Robert J. Jackson Jr., Oct. 15, 2019

Date 15/10/2019

This week brought the terribly sad news of the passing of renowned jurist, scholar, and counselor William T. Allen, who served for twelve years as Chancellor of Delaware’s Court of Chancery. Chancellor Allen will be forever remembered for his landmark contributions to the Nation’s business law. His wisdom will echo throughout our markets for years to come.
Monetary Policy: Adapting To A Changed World - Speech By Gertjan Vlieghe, Bank Of England, External Monetary Policy Committee Member, Given At The 2019 MMF Monetary And Financial Policy Conference, Bloomberg, London

Date 15/10/2019

We’ve changed the way we think about the economy since the financial crisis, and we’ve adapted how we set monetary policy.

Supervisor Charged For Role In Brokerage Firm’s Improper Handling Of ADRs

Date 15/10/2019

The Securities and Exchange Commission today announced that Domenick Migliorato, a former supervisor of the securities lending desk at Industrial and Commercial Bank of China Financial Services LLC (ICBCFS), has agreed to settle charges for his supervisory failures involving the improper handling of transactions involving American Depositary Receipts (ADRs). Earlier this year, ICBCFS agreed to pay more than $42 million to settle the SEC’s charges against the firm.
FINRA Board Of Governors Appoints Peter Fisher As Newest Governor

Date 15/10/2019

The FINRA Board of Governors has appointed Peter R. Fisher as a new public Governor. Fisher currently teaches at the Tuck School of Business at Dartmouth, where he is a clinical professor. Fisher’s term on the FINRA Board begins immediately.
Robert Burson, Associate Regional Director Of Chicago Office, To Retire From The SEC After 29 Years Of Service

Date 15/10/2019

The Securities and Exchange Commission today announced that Robert Burson, an Associate Regional Director of Enforcement in the Chicago Regional Office, is retiring after 29 years at the agency, all in the Chicago office.
TNS Working With HKEX To Address Global Demand For Trading On Hong Kong’s Stock Market

Date 15/10/2019

Transaction Network Services (TNS) and Hong Kong Exchanges and Clearing (HKEX) have signed an agreement for connectivity, managed hosting and market data access that will give financial market participants greater choice of how to trade with the HKEX.
ACER Updates The 4th Edition Of Its Guidance On The Application Of REMIT

Date 15/10/2019

ACER publishes today an updated version of the fourth edition of the Guidance on the application of the EU Regulation on wholesale energy market integrity and transparency (REMIT).