News Centre

Canadian Securities Administrators Announces Agenda For Cyber Security Roundtable

Date 18/01/2017

The Canadian Securities Administrators (CSA) today announced additional details regarding the roundtable that it will host to further explore cyber security issues and opportunities for greater collaboration, communication and coordination in the event of a cyber security incident.

FINRA Reports On Potential Implications Of Blockchain; Seeks Comment

Date 18/01/2017

Distributed ledger technology (DLT), better known as blockchain, has garnered significant interest in the securities industry, with many market participants indicating a desire for increased regulatory engagement as they explore the technology and its possible applications. In response, the Financial Industry Regulatory Authority (FINRA) today issued a report that discusses the use and implications of DLT in the securities industry. The paper also seeks comments as part of an effort to obtain feedback on any challenges associated with the use and implementation of DLT.

EEX To Extend Power Offering To Floor Futures As Well As Swiss Day And Weekend Futures

Date 18/01/2017

EEX will extend its product suite in European power derivatives with exchange trading and trade registration for German Intraday Floor Futures on 15 March 2017. The German Intraday Floor Futures complement EEX’s German Intraday Cap Futures. Whilst the Cap Futures allow to hedge against particularly high prices in the German intraday market, the Floor Futures enables hedging against low prices.

US Department Of Justice: State Street Corporation Agrees To Pay More than $64 Million To Resolve Fraud Charges

Date 18/01/2017

Massachusetts-based global financial services company State Street Corporation (State Street) entered into a deferred prosecution agreement and agreed to pay a $32.3 million criminal penalty to resolve charges that it engaged in a scheme to defraud a number of the bank’s clients by secretly applying commissions to billions of dollars of securities trades. State Street also agreed to offer an equal amount as a civil penalty to the U.S. Securities and Exchange Commission (SEC).

General Counsel Anne K. Small To Leave SEC

Date 18/01/2017

The Securities and Exchange Commission today announced that General Counsel Anne K. Small will leave the agency later this month. 

US Justice Department: Credit Suisse Agrees To Pay $5.28 Billion In Connection With Its Sale Of Residential Mortgage-Backed Securities

Date 18/01/2017

The Justice Department announced today a $5.28 billion settlement with Credit Suisse related to Credit Suisse’s conduct in the packaging, securitization, issuance, marketing and sale of residential mortgage-backed securities (RMBS) between 2005 and 2007.  The resolution announced today requires Credit Suisse to pay $2.48 billion as a civil penalty under the Financial Institutions Reform, Recovery and Enforcement Act (FIRREA).  It also requires the bank to provide $2.8 billion in other relief, including relief to underwater homeowners, distressed borrowers and affected communities, in the form of loan forgiveness and financing for affordable housing.  Investors, including federally-insured financial institutions, suffered billions of dollars in losses from investing in RMBS issued and underwritten by Credit Suisse between 2005 and 2007.

SEC: Company Settles Charges Over Undisclosed Perks And Improper Use Of Non-GAAP Measures

Date 18/01/2017

The Securities and Exchange Commission today announced that New York-based marketing company MDC Partners has agreed to pay a $1.5 million penalty to settle charges that it failed to disclose certain perks enjoyed by its then-CEO and separately violated non-GAAP financial measure disclosure rules.

EBA Publishes DPM And XBRL Taxonomy 2.6 For Remittance Of Supervisory Reporting

Date 18/01/2017

The European Banking Authority (EBA) published today an update to the XBRL taxonomy that Competent Authorities should use for the remittance of data under the EBA Implementing Technical Standards (ITS) on supervisory reporting. The revised taxonomy will be used for reference dates from 30 June 2017 onwards and includes changes and corrections to validation rules. 

President Of The European Council, Donald Tusk, Comments On Prime Minister Theresa May’s Speech On Brexit.

Date 18/01/2017

President of the European Council, Donald Tusk, briefly outlined the main results of the December European Council. At the end of his presentation to the European Parliament he commented on Prime Minister Theresa May’s speech on Brexit

Keynote Address Of CFTC Commissioner J. Christopher Giancarlo Before SEFCON VII - Making Market Reform Work For America

Date 18/01/2017

Introduction

Thank you for that kind introduction.

Let me begin with the disclaimer that my remarks today reflect my own views and do not necessarily reflect the views of the Commodity Futures Trading Commission (CFTC), my fellow commissioners or the CFTC staff. Nor do my remarks today necessarily reflect the views of the President-Elect or his nominees to federal office.