News Centre

International Forum Of Independent Audit Regulators Published The Report On 2019 Survey Of Inspection Findings

Date 21/02/2020

The International Forum of Independent Audit Regulators (IFIAR) released “Survey of Inspection Findings 2019”, a report on the results of its eighth annual survey of audit inspection findings identified by IFIAR member audit oversight bodies.

Statement Of CFTC Commissioner Brian D. Quintenz Before The Open Commission Meeting On February 20, 2020 - Open Meeting On Proposed Rule: Amendments To The Real-Time Public Reporting Requirements (Part 43); Proposed Rule: Amendments To The Swap Data Recordkeeping And Reporting Requirements (Part 45); And Reopening Of Comment Period: Certain Swap Data Repository And Data Reporting Requirements (Part 49 Verification)

Date 20/02/2020

Good morning.  I am pleased to support the data proposals before the Commission today.  These proposed amendments to part 45 regulatory reporting and part 43 real-time reporting hopefully represent the beginning of the end of this agency’s longstanding efforts to collect and utilize accurate, reliable swap data to further its regulatory mandates.

Morgan Stanley To Acquire E*TRADE, Creating A Leader In All Major Wealth Management Channels

Date 20/02/2020

• Combined platforms will have $3.1Tn client assets, 8.2MM retail client relationships and accounts, and 4.6MM stock plan participants
• Combination increases Wealth Management scale, fills product and services gaps through complementary offerings, and enhances digital capabilities; positions Morgan Stanley as a top player across all three channels: Financial Advisory, Workplace, and Self-Directed
• Significant cost and funding synergies will result in stronger financial performance and shareholder value creation
• Combination accelerates Morgan Stanley’s transition to a more balance sheet light business mix and more durable sources of revenue

Statement Of CFTC Commissioner Dan M. Berkovitz On Proposed Amendments To Parts 45, 46, And 49: Swap Data Reporting Requirements

Date 20/02/2020

Introduction

Collecting swap data is crucial to fulfilling the purposes of the Commodity Exchange Act (“CEA”), including “insur[ing] the financial integrity of all transactions subject to this Act and the avoidance of systemic risk.”[1]  The 2008 financial crisis showed how a lack of transparency in swap trading, and regulators’ inability to monitor risk, can create fertile ground for the accumulation of excessive risks.

TSX Venture Exchange Announces The 2020 Venture 50 - TSXV's Top Performing Companies To Celebrate With Market Open And Closing Ceremonies On Friday, February 21

Date 20/02/2020

TSX Venture Exchange (TSXV) is pleased to announce the 2020 Venture 50, the exchange's flagship annual program showcasing the top performing listed companies from five industry sectors: Clean Technology and Life Sciences, Diversified Industries, Energy, Mining, and Technology.

Statement Of CFTC Commissioner Dan M. Berkovitz On Proposed Amendments To Part 43: Real-Time Public Reporting Requirements

Date 20/02/2020

Introduction

I am voting to issue for public comment the proposed rulemaking that would amend certain rules requiring real-time public reporting of swap trades.  The proposal is intended to enhance the existing real-time public reporting framework adopted in 2012.  Although I am voting to issue the proposal for public comment, I do not support the provision in the proposal that would permit a 48-hour delay in the reporting of block trades.  A 48-hour delay for all block trades is too long.

CryptoCompare Launches New Historical Data Product On Quandl

Date 20/02/2020

CryptoCompare has launched a new historical data product on the Quandl platform that will enable institutional investors to monitor the nascent digital asset class and assess investment opportunities using a trusted data source.

Statements Of Concurrence By CFTC Commissioner Rostin Behnam Regarding Proposed Rules On Real-Time Public Reporting And Swap Data Recordkeeping, February 20, 2020, Real-Time Public Reporting Requirements (Part 43)

Date 20/02/2020

I respectfully concur in the Commission’s proposal to amend certain real-time public reporting requirements.  I support the Commission’s ongoing review of its swap reporting rules; however, I think it is very important that we not lose sight of why we have these rules in the first place.  Prior to the 2008 financial crisis, swaps were largely exempt from regulation and traded exclusively over-the-counter.[1]  Lack of transparency in the over-the-counter swaps market contributed to the financial crisis because both regulators and market participants lacked the visibility necessary to identify and assess swaps market exposures and counterparty relationships and counterparty credit risk.[2]  In the aftermath of the financial crisis, Congress enacted the Dodd-Frank Wall Street Reform and Consumer Protection Act in 2010 (Dodd-Frank Act).[3]  The Dodd-Frank Act largely incorporated the international financial reform initiatives for over-the-counter derivatives laid out at the 2009 G20 Pittsburgh Summit, which sought to improve transparency, mitigate systemic risk, and protect against market abuse.[4]  With respect to data reporting, the policy initiative developed by the G20 focused on establishing a consistent and standardized global data set across jurisdictions in order to support regulatory efforts to timely identify systemic risk.  The critical need and importance of this policy goal given the consequences of the financial crisis cannot be understated.

Ontario Securities Commission Proposes Rule To Restrict Use Of Deferred Sales Charge Option

Date 20/02/2020

The Ontario Securities Commission (OSC) today published for comment a proposed rule that would restrict the use of the deferred sales charge (DSC) option in the sale of mutual funds. The proposed rule is intended to address negative investor outcomes by limiting the circumstances in which mutual funds with the DSC option can be sold and by giving clients greater flexibility to redeem these investments without penalties.

CFTC Unanimously Approves Proposed Rules To Improve Data Quality, Streamline Regulations At February 20 Open Meeting

Date 20/02/2020

The Commodity Futures Trading Commission at its open meeting today unanimously approved two proposed rules to revise CFTC regulations for swap data reporting, dissemination, and public reporting requirements for market participants. The Commission also unanimously approved reopening the comment period of a proposed rule to amend certain agency regulations related to swap data repositories. All three measures are intended to improve data quality and streamline CFTC regulations.