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  • Nadex Adjusts Strike Width For Its Crude Oil Binary Contracts

    Date 25/11/2019

    Pursuant to Section 5c(c)(1) of the Commodity Exchange Act and Commission Regulation §40.6(d)(2)(iv), Nadex is providing notice that due to increased volatility in the underlying markets upon which the Nadex US Indices contracts are based, Nadex adjusted the strike width for its Daily Crude Oil Binary contracts from 0.1 to 0.2 and in its Intraday Crude Oil Binary contracts from 0.2 to 0.1.  Additionally, the number Intraday Crude Oil Binary contracts was increased from 9 strikes to 19 strikes.  The changes began on November 25, 2019 and are planned to continue through November 29, 2019.

  • ASIC Outlines Approach To Advice Licensee Obligations For The Financial Adviser Code Of Ethics

    Date 25/11/2019

    As announced on 14 November 2019, ASIC has taken action to provide certainty to Australian financial services (AFS) licensees that they will not be in breach of the law because their financial advisers were not able to register with an ASIC-approved compliance scheme by 1 January 2020, as originally required. 

  • CFTC Division Of Enforcement Issues Annual Report For FY 2019 - Actions Filed Exceeded CFTC Average Over The Prior Five Fiscal Years, Awarded More Than $1.3 Billion In Monetary Relief

    Date 25/11/2019

    The U.S. Commodity Futures Trading Commission’s Division of Enforcement (DOE) today issued its Fiscal Year (FY) 2019 Annual Report. The second annual report highlights the division’s success prosecuting the most pernicious forms of misconduct in the market – from manipulative behavior, to commodities fraud, to misappropriation of confidential information.

  • US Department Of Justice: Former Executives And Employees Of Health Technology Start-Up Charged In A $1 Billion Scheme To Defraud Clients, Lenders And Investors

    Date 25/11/2019

    Four former executives and two former employees of Outcome Health (Outcome), a Chicago-based health technology start-up company founded in 2006, were charged for their alleged roles in a fraud scheme that targeted the company’s clients, lenders and investors, and involved approximately $1 billion in fraudulently obtained funds.

  • Statement Of Concurrence By CFTC Commissioner Rostin Behnam - Amendments To Registration And Compliance Requirements For Commodity Pool Operators And Commodity Trading Advisors

    Date 25/11/2019

    I support the two final rules amending Part 4 of the Commission’s regulations addressing various registration and compliance requirements for commodity pool operators (CPOs) and commodity trading advisors (CTAs).  I support these amendments because they represent the latest step in the Commission’s ever evolving understanding of the needs of this dynamic segment of the derivatives market, along with the needs of consumers and the national public interest we are charged with protecting.  The amendments adopted today reflect many years of staff experience and familiarity with the affected market participants.  They incorporate commonly-relied upon no-action and exemptive relief into the Commission’s regulations, reducing regulatory burdens while promoting legal certainty.  However, these rules are not perfect.  In particular, the Commission’s decision to omit a notice filing requirement for claiming a CPO or CTA exemption for Family Offices gives me pause and raises concerns that we will not have direct visibility into the identity of entities claiming these exemptions.  I am hopeful that the Commission will monitor whether this lack of visibility impacts our oversight and protection of market participants, and take action, if appropriate.