News Centre

COVID-19 Related Exemptions From IIROC Rules – Applications Received And Exemptions Granted

Date 23/04/2020

As announced in IIROC Notice 20-0063, COVID-19 Related Exemptions from IIROC Rules, the IIROC Board of Directors approved the offering of exemptive relief in a number of areas relating to hardships Dealer Members are experiencing in complying with related IIROC Dealer Member Rules (DMRs) because of the COVID-19 pandemic. IIROC’s objective, in doing so, was to provide firms, where necessary, flexibility to service their clients with mitigating controls or processes to maintain investor protection in this challenging operational environment.

Intercontinental Exchange Appoints David Clifton As Interim CEO Of Bakkt

Date 23/04/2020

Intercontinental Exchange, Inc. (NYSE:ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, has appointed David Clifton as Interim CEO of Bakkt, the digital assets trading and payments platform that is majority-owned by ICE. Clifton replaces Mike Blandina, who is leaving the company to pursue a new opportunity. Adam White, who was appointed President of Bakkt earlier this year, will continue in his role.

Federal Court Orders Defendants To Pay Over $1.7 Million To Settle CFTC Enforcement Action Charging Fraud And False Statements

Date 23/04/2020

The Commodity Futures Trading Commission announced that the U.S. District Court for the Southern District of New York entered a consent order of permanent injunction against defendants Simon Jousef of Ontario, Canada and his business, FuturesFX, imposing more than $1.7 million in civil monetary and equitable relief. The injunction and sanctions resolve a CFTC enforcement action filed on September 10, 2019 [See CFTC Press Release No. 8006-19]. The CFTC’s complaint charged the defendants with fraudulently soliciting members and prospective members in the United States and other countries to subscribe to a trading system that included a supposedly “live” foreign exchange (forex) and commodity futures online trading room, educational videos, and online support. The CFTC also charged Jousef with making false or misleading statements to the National Futures Association (NFA).

European Supervisory Authorities: Joint Consultation Paper On ESG Disclosures Standards For Financial Market Participants

Date 23/04/2020

The three European Supervisory Authorities (EBA, EIOPA and ESMA - ESAs) have today issued a Consultation Paper seeking input on proposed environmental, social and governance (ESG) disclosure standards for financial market participants, advisers and products.

EBRD Targets Coronavirus Financing Of €21 Billion Through 2021

Date 23/04/2020

The EBRD is rapidly stepping up support for its regions in the face of the coronavirus pandemic and now expects to dedicate the entirety of its activities to helping the 38 emerging economies where it invests to combat the economic impact of the crisis.

BIS: Insurance Regulatory Measures In Response To Covid-19

Date 23/04/2020

Highlights

• Currently, insurers are more likely to experience losses from financial market volatility than from higher insurance claims arising from Covid-19. Few insurance supervisors have seen a need to strengthen or adjust prudential requirements to insulate insurers from current financial market uncertainties.
• So far, authorities have responded mainly by taking measures to provide operational relief to insurers from regulatory and supervisory requirements so that they can continue providing insurance services. These measures will also help insurers to enhance risk monitoring of their Covid-19 financial exposures.
• Some authorities have set out expectations for insurers to conserve capital through prudent exercise of dividend and variable remuneration policies. The aim is to enhance their resilience against huge uncertainties from potential Covid-19 fallout. Other capital-related measures should relieve supervisory pressures and reduce the tendency of insurers to manage their investments in a procyclical manner. These measures include: extending the supervisory intervention ladder, triggering the countercyclical lever and recalibrating capital requirements.
• The far-reaching impact of Covid-19 calls for sustained vigilance by both supervisors and insurers. In the post-pandemic phase, the extraordinary measures currently warranted will need to be unwound through a carefully crafted exit strategy that preserves sound risk management practices and protects policyholders' interests.

Swiss Stock Exchange ETF Market Report: 1st Quarter 2020

Date 23/04/2020

Deutsche Börse AG: Release According To Article 40, Section 1 Of The WpHG [The German Securities Trading Act] With The Objective Of Europe-Wide Distribution - DWS Investment GmbH, Frankfurt am Main, Germany

Date 23/04/2020

Dissemination of a Voting Rights Announcement transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

World Alliance Of International Financial Centers: The Role Of Financial Centres In Driving Economic Growth

Date 23/04/2020

The funding needs of the world economy are greater than ever. They chiefly concern long-term financing in both developed and emerging countries. These pressing requirements particularly relate to technological disruptions, the energy transition and the fight against climate change, demographic change and social issues. According to the Global Infrastructure Hub, the financing gap for infrastructure alone amounts to $1.5 trillion per year. This is why blended finance must accompany public funding. As such, international financial centres – as networks of global and national players that contribute to the effective functioning of financial markets – are essential to meet the needs of the real economy and economic growth. Their commitment to supporting global economic transformation, fostering the combination of public and private funding, and contributing to meeting sustainable development goals, is crucial.

CFTC Provides Further Relief To Market Participants In Response To COVID-19

Date 23/04/2020

The Commodity Futures Trading Commission’s Division of Swap Dealer and Intermediary Oversight (DSIO) today announced that it has issued additional targeted no-action relief to futures commission merchants (FCMs) and introducing brokers (IBs) in response to the COVID-19 (coronavirus) pandemic.