News Centre

SIFMA: Waters Amendment To Defund Reg BI Would Undermine Investor Protection

Date 25/06/2019

SIFMA today released the following statement from Kenneth E. Bentsen, Jr., SIFMA president and CEO, expressing strong opposition to an amendment being considered (Waters Amendment #78) that would prohibit the Securities and Exchange Commission (SEC) from implementing, administering, enforcing or publicizing the final rules and interpretations of SEC’s Regulation Best Interest (Reg BI):

“Reg BI is the most comprehensive enhancement of standard of conduct rules governing broker-dealers since the enactment of the Securities Exchange Act of 1934. The rule materially and unalterably raises that standard consistent with Section 913 of the Dodd Frank Act. As promulgated, brokers must be compliant by June 30, 2020. It makes no sense to halt the orderly implementation of this important new set of regulations that would provide strong investor and consumer protections for forty-three million households.”

US Department Of Justice: Merrill Lynch Commodities Inc. Enters Into Corporate Resolution And Agrees To Pay $25 Million In Connection With Deceptive Trading Practices Executed On U.S. Commodities Markets

Date 25/06/2019

Merrill Lynch Commodities Inc. (MLCI), a global commodities trading business, has agreed to pay $25 million to resolve the government’s investigation into a multi-year scheme by MLCI precious metals traders to mislead the market for precious metals futures contracts traded on the Commodity Exchange Inc. (COMEX), announced Assistant Attorney General Brian A. Benczkowski of the Justice Department’s Criminal Division and Assistant Director in Charge William F. Sweeney Jr. of the FBI’s New York Field Office.

CFTC Orders Merrill Lynch Commodities, Inc. To Pay Approximately $25 Million For Spoofing, Manipulation, And Attempted Manipulation In Precious Metals Futures

Date 25/06/2019

The Commodity Futures Trading Commission (CFTC) today issued an Order filing and simultaneously settling charges against Merrill Lynch Commodities, Inc. (MLCI), a provisionally registered swap dealer, for spoofing, manipulation, and attempted manipulation over a six-year period with respect to certain precious metals futures contracts traded on the Commodity Exchange, Inc. (COMEX). 

Nasdaq Announces Mid-Month Open Short Interest Positions In Nasdaq Stocks As Of Settlement Date June 14, 2019

Date 25/06/2019

At the end of the settlement date of June 14, 2019, short interest in 2,373 Nasdaq Global MarketSM securities totaled 8,008,076,464 shares compared with 7,955,089,392 shares in 2,363 Global Market issues reported for the prior settlement date of May 31, 2019. The mid-June short interest represents 4.17 compared with 4.08 days for the prior reporting period.

NYSE Group Consolidated Short Interest Report

Date 25/06/2019

NYSE today reported short interest as of the close of business on the settlement date of June 14, 2019.

BOX Exchange: New Rules Amending Clearing Participant Give-Ups

Date 25/06/2019

BOX Exchange LLC (“BOX”) recently filed to amend BOX Rule 7190 (Clearing Participant Give-Up) to allow for Clearing Participants to restrict one or more of their OCC clearing numbers.

Chief Innovation Officer Discusses Office Of The Comptroller Of The Currency Support Of Responsible Innovation

Date 25/06/2019

The agency’s Chief Innovation Officer Beth Knickerbocker today discussed the Office of the Comptroller of the Currency’s (OCC) efforts to support responsible innovation in the federal banking system during a hearing held by the Task Force on Financial Technology of the U.S. House of Representatives Committee on Financial Services.

British Columbia Securities Commission - GFIN: Looking Back, Looking Forward

Date 25/06/2019

The Global Financial Innovation Network (GFIN) has marked its first year with the publication of a reportdescribing the consortium’s achievements and its ambitions for the future.

​€24 Million Cryptocurrency Theft Unraveled With Eurojust’s Support

Date 25/06/2019

The UK and Dutch national authorities, in a joint operation with Eurojust and Europol, arrested 6 people as part of an ongoing investigation into a €24 million cryptocurrency theft. The suspects were arrested following simultaneous search warrants that were carried out in Charlcombe, Bath, Trowbridge, UK, as well as Amsterdam and Rotterdam, the Netherlands. The thieves are suspected of targetting users’ bitcoin tokens, affecting at least 4 000 victims in 12 countries; these numbers are expected to grow further. With the active support of Eurojust and Europol, the authorities seized a larger number of electronic devices, equipment and valuable assets.

Alberta Securities Commission: Global Financial Innovation Network Reports On First Year

Date 25/06/2019

The Alberta Securities Commission (ASC), a member of the Global Financial Innovation Network (GFiN), is pleased to publish the GFiN One Year On report.