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Speech By Federal Reserve Governor Lael Brainard At "Evolution Of Work," A Convening Cosponsored By The Board Of Governors Of The Federal Reserve System, The Federal Reserve Bank Of New York, And The Freelancers Union, New York, New York, November 17, 2016, The "Gig" Economy: Implications Of The Growth Of Contingent Work

Date 17/11/2016

Watch live at https://www.facebook.com/newyorkfed/ 

I would like to thank Bill Dudley and Sara Horowitz for inviting me to participate in today's conference. The subject we are tackling today--the evolution of work--is a particular interest of mine and is a matter of great importance to the Federal Reserve. The Congress has mandated the Federal Reserve to implement monetary policy so as to promote maximum employment and stable prices. Our dual mandate recognizes the importance of work in enabling people to contribute to the financial security of their family and the prosperity of their community and the country overall. Moreover, there is a long-standing recognition that secure and dignified work provides a key sense of purpose and worth. Understanding the changing nature of employment in today's economy is not only central to the mission of the Federal Reserve, but also goes to the core of who we are as providers for our families and productive members of society.

EGX Wins FEAS Chairmanship

Date 17/11/2016

US Justice Department: JPMorgan’s Investment Bank In Hong Kong Agrees To Pay $72 Million Penalty For Corrupt Hiring Scheme In China

Date 17/11/2016

JPMorgan Securities (Asia Pacific) Limited (JPMorgan APAC), a Hong Kong-based subsidiary of multinational bank JPMorgan Chase & Co. (JPMC), agreed to pay a $72 million penalty for its role in a scheme to corruptly gain advantages in winning banking deals by awarding prestigious jobs to relatives and friends of Chinese government officials.

CFTC: Federal Court In Chicago Orders U.K. Resident Navinder Singh Sarao To Pay More Than $38 Million In Monetary Sanctions For Price Manipulation And Spoofing - Sarao Admits To Contributing To Extreme Order Book Imbalance And Causing And Creating Artificial Prices On Multiple Days, Including May 6, 2010 (Flash Crash Day)

Date 17/11/2016

The U.S. Commodity Futures Trading Commission (CFTC) today announced that Judge Andrea R. Wood of the U.S. District Court for the Northern District of Illinois entered a Consent Order against Navinder Singh Sarao (Sarao) that requires him to pay a $25,743.174.52 civil monetary penalty and $12,871,587.26 in disgorgement.  The Court’s Order also permanently prohibits Sarao from further violations of the Commodity Exchange Act (CEA) and CFTC Regulations, as charged, and imposes permanent trading and registration bans against Sarao.

Opening Remarks To The Government-Business Forum On Small Business Capital Formation, SEC Chair Mary Jo White, Nov. 17, 2016

Date 17/11/2016

Thank you, Keith and Sebastian.  I also want to welcome everyone to today’s Government-Business Forum on Small Business Capital Formation.  I especially want to thank all of the panelists, moderators and participants in today’s program.  The great staff in the Division of Corporation Finance organized today’s Forum and I want to thank them as well.

Federal Reserve Board Orders JPMorgan Chase & Co. To Pay $61.9 Million Civil Money Penalty

Date 17/11/2016

The Federal Reserve Board on Thursday ordered JPMorgan Chase & Co. to pay a $61.9 million civil money penalty for unsafe and unsound practices related to the firm's practice of hiring individuals referred by foreign officials and other clients in order to obtain improper business advantages for the firm.

SEC: JPMorgan Chase Paying $264 Million To Settle FCPA Charges

Date 17/11/2016

The Securities and Exchange Commission today announced that JPMorgan Chase & Co. has agreed to pay more than $130 million to settle SEC charges that it won business from clients and corruptly influenced government officials in the Asia-Pacific region by giving jobs and internships to their relatives and friends in violation of the Foreign Corrupt Practices Act (FCPA).

Statement Of CFTC Chairman Timothy Massad Before The Market Risk Advisory Committee

Date 17/11/2016

Thank you. First, I would like to thank Commissioner Bowen, her staff, and the distinguished members of the Market Risk Advisory Committee for all the work that has gone into today’s meeting and its agenda. I’d also like to thank CFTC staff—and all of today’s speakers and presenters for what I’m sure will be an interesting conversation. And I’m pleased to be here with Commissioner Giancarlo.

Lee Hodgkinson, Head Of Markets And Global Sales Of Euronext And CEO Of Euronext London Limited, Elected As Vice President Of The Federation Of European Securities Exchanges (FESE)

Date 17/11/2016

On 17th November 2016, Lee Hodgkinson from the pan European exchange Euronext was elected as FESE Vice President for a term of three years. The election was unanimously approved by the FESE General Assembly at their bi-annual meeting in Brussels today.

KCG Announces Share Exchange With General Atlantic

Date 17/11/2016

KCG Holdings, Inc. (NYSE: KCG) today announced that it has entered into a strategic transaction with General Atlantic, a global growth equity firm.  Under the terms of the transaction, KCG will exchange 8.9 million shares it owns of Bats Global Markets, Inc. (Bats: BATS) for all of General Atlantic's 18.7 million shares and 8.1 million warrants of KCG.  In 2007, General Atlantic invested in GETCO, a predecessor to KCG.  The transaction is expected to close by the end of November, with a portion of the warrants to be settled in early January 2017.