News Centre

SIFMA Comments On Uniform Mortgage-Backed Security Proposed Rule -

Date 16/11/2018

In a comment letter filed today with the Federal Housing Finance Agency on potential rulemaking on the implementation of the Uniform Mortgage-Backed Security (UMBS), SIFMA offers suggestions to strengthen three aspects of the proposed rulemaking for the benefit of investors and mortgage borrowers.

Beginning Stress Testing’s New Chapter, Federal Reserve Vice Chairman For Supervision Randal K. Quarles, At "An International Perspective On The Future Of Bank Stress Testing" Symposium Sponsored By Harvard Law School Program On International Financial Systems, Cambridge, Massachusetts

Date 16/11/2018

Professor Scott, and our hosts from Harvard and the Program on International Financial Systems, thank you for the chance to participate in today's meeting. Looking around the room, I see a mix of past and current colleagues, from academics, to supervisors and central bankers, to researchers and practitioners in industry. All of you have seen, felt, and lived different aspects of the transition to the post-crisis regulatory framework, and I am grateful to hear your perspectives on such a critical aspect of it.

EBA Publishes Final Draft Technical Standards On The Specification Of An Economic Downturn

Date 16/11/2018

The European Banking Authority (EBA) published today its final draft Regulatory Technical Standards (RTS) specifying the nature, severity and duration of an economic downturn. These RTS complete the EBA's regulatory review of the internal ratings-based (IRB) Approach, with the objective of restoring market participants' trust in internal models by reducing the unjustified variability in resulting risk weighted exposure amounts. The EBA is currently finalising the related Guidelines on the estimation of loss given default (LGD) appropriate for conditions of an economic downturn.

Nigerian Stock Exchange Market Report For November 16th 2018

Date 16/11/2018

A  total turnover of 1.285 billion shares worth N11.539 billion in 13,245 deals were traded this week by investors on the floor of the Exchange in contrast to a total of 1.079 billion shares valued at N18.196 billion that exchanged hands last week in 14,372 deals. 

CFTC And State Of Utah Charge Salt Lake City Precious Metals Dealer And His Company With Engaging In $170 Million Precious Metals Ponzi Scheme

Date 16/11/2018

The Commodity Futures Trading Commission (CFTC) and the Utah Department of Commerce, Division of Securities, through its Attorney General, jointly filed a civil enforcement action in the U.S. District Court for the District of Utah, Central Division, against Defendants Gaylen Dean Rust (Rust) and Rust Rare Coin, Inc. (RRC) of Layton, Utah and Salt Lake City, Utah, respectively.  The Complaint charges Rust and his company RRC  with defrauding at least 200 individuals — from Utah and at least 16 other states — and fraudulently obtaining more than  $170 million from investors since May 2013 in a precious metals Ponzi scheme. 

EEX Executes First Auction On The Secondary Market

Date 16/11/2018

Today, EEX executed the first auction of European emissions allowances (EUAs) on the Secondary Spot Market on behalf of Latvia. In the auction, 3,126,500 EUAs have been sold at a price of 19.40 Euro/EUA. The total bidding amount was 5,840,000 EUA which means that participants demanded 1.87-fold the auction volume. 19 companies took part in the auction which was the first auction on behalf of a public auctioneer on the EEX secondary market.

Kazatomprom Starts Trading On London Stock Exchange

Date 16/11/2018

• Kazatomprom raises $451.3 million, valuing the company at $3 billion
• First international Central Asia privatization since 2006
• IPO follows first ever €1.05 billion Eurobond, by the Republic of Kazakhstan listed on London Stock Exchange earlier this week
• Underlines London Stock Exchange’s role as the most international exchange attracting global issuers to its markets

Two ICO Issuers Settle SEC Registration Charges, Agree To Register Tokens As Securities

Date 16/11/2018

The Securities and Exchange Commission today announced settled charges against two companies that sold digital tokens in initial coin offerings (ICOs).  These are the Commission’s first cases imposing civil penalties solely for ICO securities offering registration violations.  Both companies have agreed to return funds to harmed investors, register the tokens as securities, file periodic reports with the Commission, and pay penalties.

FSB Publishes Progress Report On Measures To Address The Decline In Correspondent Banking And Updated Data

Date 16/11/2018

The Financial Stability Board (FSB) today published two reports on its work to assess and address the decline in correspondent banking relationships: (1) updated data on trends in correspondent banking relationships using data provided by SWIFT as of end-2017 and (2) a progress report on the FSB’s four-point action plan to assess and address the decline in correspondent banking that will be delivered to the G20 Summit.

HKEX: Exchange Publishes Its Latest Review Of Listed Issuers’ Corporate Governance Practices And Updates Its Guidance Material On ESG Reporting

Date 16/11/2018

• Reviews are part of the Exchange’s efforts to maintain high corporate governance standards
• Review findings provide guidance on improving corporate governance reporting
• Updated ESG reporting guidance material reflects investor expectations and international developments
• Plan to launch ESG consultation in mid-2019