News Centre

Statement Of CFTC Chairman J. Christopher Giancarlo On European Commission Decision On Clearinghouses

Date 19/12/2018

U.S. Commodity Futures Trading Commission (CFTC) Chairman J. Christopher Giancarlo issued the following statement regarding the European Commission’s Decision on the temporary and conditional equivalence of the United Kingdom’s regulatory framework for central clearinghouses:

“The CFTC welcomes the European Commission’s adoption of an equivalence decision regarding the United Kingdom’s legal and supervisory arrangements for central clearinghouses (CCPs),” said Giancarlo.  “The CFTC also welcomes the additional statement by the European Securities and Markets Authority (ESMA) of its intention to complete the recognition of U.K. CCPs pursuant to the EC’s equivalence decision in a timely manner.  Together the equivalence decision of the EC and the final recognition decisions of ESMA will permit EU market participants to continue clearing through U.K. CCPs for 12 months as of March 30, 2019 in the case of a U.K. exit from the European Union without a transition period."

ESMA To Renew Restrictions On CFDs For A Further Three Months From 1 February 2019

Date 19/12/2018

The European Securities and Markets Authority (ESMA) has agreed to renew the restriction on the marketing, distribution or sale of contracts for differences (CFDs) to retail clients, in effect since 1 August, from 1 February 2019 for a further three-month period.

SEC: Statement On The Commission’s Consideration Of The Public Company Accounting Oversight Board’s Proposed 2019 Budget And Accounting Support Fee, SEC Commissioner Kara M. Stein, Dec. 19, 2018

Date 19/12/2018

I want to extend my thanks to the team in the Office of the Chief Accountant that works every day with the Public Company Accounting Oversight Board ("PCAOB").  I also want to thank the team in the Office of Financial Management.    

BME To Distribute A €0.6 Second Interim Dividend Against 2018 Earnings On 28th December

Date 19/12/2018

The Board of Directors of BME today agreed to distribute to its shareholders on December 28th the second interim dividend against 2018 earnings, with a value of €50 million. The figure represents a gross €0.6 per share, the same as that distributed a year ago.

SEC Proposes Rule Changes For Fund Of Funds Arrangements

Date 19/12/2018

The Securities and Exchange Commission today voted to propose a new rule and related amendments designed to streamline and enhance the regulatory framework for fund of funds arrangements. Funds of funds are created when a mutual fund or other type of fund invests in shares of another fund.

EGX Participates In The Graduation of New Group Of Certified Portfolio Managers

Date 19/12/2018

EGX hosts the graduation ceremony of Portfolio Managers

SEC Adopts Rule Of Practice 194

Date 19/12/2018

The Securities and Exchange Commission today announced that it has voted to adopt Rule of Practice 194.  In general, this rule creates a transparent, efficient, and comprehensive process for a registered security-based swap dealer or major security-based swap participant, collectively known as SBS Entities, to apply to the Commission for relief from the statutory disqualification prohibition found in Exchange Act Section 15F(b)(6).  Rule of Practice 194 also provides an exclusion for an SBS Entity from the prohibition in Exchange Act Section 15F(b)(6) with respect to associated persons entities, consistent with the Commodity Futures Trading Commission’s (CFTC) approach with respect to the statutory prohibition for swap entities. 

The European Association Of CCP Clearing Houses (EACH) Welcomes The European Commission Equivalence Decision In Clearing Services

Date 19/12/2018

Against the background of a hard Brexit and increasing risks to financial stability, the European Association of CCP Clearing Houses (EACH) welcomes the decision of the European Commission to agree on a temporary and conditional regime for equivalence and recognition for UK CCPs (1). This regime represents a step forward towards ensuring financial stability and avoiding amongst other the disorderly close out of positions of EU clearing members in UK CCPs guaranteeing the continuity of critical clearing services for EU clearing members in case the withdrawal of the UK from the EU occurs without an agreement (i.e. ‘no-deal’). This equivalence agreement brings increased legal certainty for the market to cope with a ‘no-deal’ scenario.

SEC Proposes Risk Mitigation Techniques For Uncleared Security-Based Swaps

Date 19/12/2018

The Securities and Exchange Commission today voted to propose rules requiring the application of risk mitigation techniques to portfolios of uncleared security-based swaps.  Proposed Rules 15Fi-3 through 15Fi-5 would establish requirements for registered security-based swap dealers and major security-based swap participants (SBS Entities) with respect to:

ESMA Is Ready To Review UK CCPs’ And CSDs’ Recognition Applications For A No-Deal Brexit Scenario

Date 19/12/2018

Recognition of UK CCPs

The European Securities and Markets Authority (ESMA) is publishing this Public Statement to clarify its plans for the recognition of Central Counterparties established in the United Kingdom (UK CCPs) as Third Country CCPs (TC-CCPs) under Regulation (EU) No 648/2012 (European Markets Infrastructure Regulation - EMIR) for a no-deal Brexit scenario, where UK CCPs will become TC-CCPs as of 30 March 2019.