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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.

Canadian Securities Regulators Adopt Ban On Deferred Sales Charges

Date 20/02/2020

The securities regulatory authorities of British Columbia, Alberta, Saskatchewan, Manitoba, Québec, Nova Scotia, Prince Edward Island, New Brunswick, Newfoundland and Labrador, Nunavut, Northwest Territories and Yukon (the Participating Jurisdictions, or we), after extensive research, analysis, and consultations with the investment industry and investor advocates, are today adopting rules that will lead to the end of deferred sales charges (DSC) on mutual funds.

Statement Of CFTC Chairman Heath P. Tarbert In Support Of Proposed Rules On Swap Data Reporting

Date 20/02/2020

Data is the lifeblood of our markets.  Yet for too long, market participants have been burdened with confusing and costly swap data reporting rules that do little to advance the Commission’s regulatory functions.  In the decade-long effort to refine our swap data rules, we have at times lost sight of Sir Isaac Newton’s wisdom: “Truth is ever to be found in simplicity, and not in the multiplicity and confusion of things.”

New Study Finds Index Strategies Using Cboe Russell 2000 Options Offer Income Generation And Downside Protection

Date 20/02/2020

• Index strategies using Cboe Russell 2000 Options have exhibited less severe maximum drawdowns, lower standard deviations relative to underlying equity index since 2001
• Inclusion of Cboe PUTR Index in a traditional stock/bond portfolio also enhanced risk-adjusted returns