News Centre

New Zealand's Financial Markets Authority: Insurers Spend $34 Million On Soft Commissions

Date 16/05/2018

A Financial Markets Authority report published today details how nine life and health insurance companies spent $34 million on non-financial incentives like trips, business support and conferences for financial advisers over a two-year period.   Soft commissions create the risk of conflicted conduct for advisers, as the incentives could influence the way they recommend or provide advice about products to their clients. In a report earlier this year, the FMA detailed how some registered financial advisers were unaware of their need to manage conflicts of interest while providing advice to their clients.

Shanghai Stock Exchange Releases “Q&A On Regulation Of Special Corporate Bond Financing for Poverty Alleviation”

Date 16/05/2018

In order to implement the strategic deployment of the CPC Central Committee and the State Council on poverty alleviation, and effectively enhance the support of the capital market for the tough battle on targeted poverty alleviation, according to the general requirements of the “Opinions of China Securities Regulatory Commission on Giving Play to the Role of the Capital Market in Supporting the State’s Poverty Alleviation Strategy”, the Shanghai Stock Exchange (SSE) has been vigorously carrying out relevant policies and requirements for targeted poverty alleviation. Based on the experience in the earlier pilot programs, the SSE recently issued the “Q&A of Shanghai Stock Exchange on Regulation of Corporate Bond Financing - Special Corporate Bonds for Poverty Alleviation” (the “Regulation Q&A” for short), specifying the institutional arrangements for the support of the SSE bond market for the strategy of fight against poverty.

Cryptocurrencies, Digital Currencies, And Distributed Ledger Technologies: What Are We Learning? – Federal Reserve Governor Lael Brainard, At The Decoding Digital Currency Conferencesponsored By The Federal Reserve Bank Of San Francisco, San Francisco, California

Date 16/05/2018

It is a pleasure to be here today. What better place to discuss digital currencies than in San Francisco, home to so many technology innovators working on new ways to disrupt various aspects of our daily lives? 

Because of the transformative potential of digital currency and distributed ledger technologies, the Federal Reserve is actively monitoring digital innovations in the financial system. We have been keenly evaluating developments in fintech and digital currencies through a multidisciplinary lens, combining information technology and policy analysis to study their potential implications for payments policy, supervision and regulation, financial stability, monetary policy, and the provision of financial services. This work draws from expertise throughout the Federal Reserve System and benefits from engagement with our colleagues internationally.

NZX Announces Sale Of Farmers Weekly

Date 15/05/2018

NZX announces the sale of rural newspaper Farmers Weekly as the exchange focuses on delivering strategic initiatives that support the growth of its core markets business.

U.S. Department Of The Treasury Targets Iran’s Central Bank Governor And An Iraqi Bank Moving Millions Of Dollars For IRGC-Qods Force

Date 15/05/2018

Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) imposed sanctions on the Governor and a senior official of the Central Bank of Iran, an Iraq-based bank and its chairman, and a key Hizballah official, all of whom have moved millions of dollars on behalf of the Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF) to Hizballah.  They were designated as Specially Designated Global Terrorists (SDGTs) pursuant to Executive Order (E.O.) 13224, which targets terrorists and those providing support to terrorists or acts of terrorism.

SEC Names James Reese Chief Risk And Strategy Officer Of The Office Of Compliance Inspections And Examinations

Date 15/05/2018

The Securities and Exchange Commission today announced that James Reese has been named the Chief Risk and Strategy Officer of the agency’s Office of Compliance Inspections and Examinations (OCIE). Mr. Reese has served as Acting Chief since February 2017.  

Qatar Stock Exchange Working Hours During Ramadan

Date 15/05/2018

TMX Group Announces Election Of Directors

Date 15/05/2018

TMX Group today announced that the nominees listed in the management proxy circular for the 2018 Annual and Special Meeting of Shareholders were elected as directors of TMX Group Limited. Detailed results of the vote for the election of directors held at the Annual and Special Meeting on Thursday, May 10, 2018 in Torontoare set out below.

SEC Files Charges In International Manipulation Scheme

Date 15/05/2018

The Securities and Exchange Commission today charged four individuals for their roles in a fraudulent scheme that generated nearly $34 million from unlawful stock sales and caused significant harm to retail investors.

Remarks Of CFTC Commissioner Rostin Behnam Before Energy Risk USA, Houston, Texas: Delivering A Message On Relationship Patterns

Date 15/05/2018

Introduction

Good morning.  It’s an honor to be here with you.  Shortly after being sworn in as a CFTC Commissioner in September 2017, I announced a listening tour.  My goal was, and still is, to spend this first year as a Commissioner traveling to as many places as my schedule (and family) will allow; visiting market participants and stakeholders, both large and small, to help inform my thinking for the balance of my term, specifically about what CFTC rules, regulations, and policies are working or—more importantly—not working.  More simply, how I can be an effective regulator in Washington, D.C.