News Centre

U.S. Department Of Justice: New York City Resident Pleads Guilty To Using Sham Foreign Entity And Secret Foreign Accounts In Switzerland And Israel To Evade Taxes - Used Secret Foreign Accounts To Hide Over $7 Million In Funds And Evade Taxes

Date 28/09/2016

A New York City man pleaded guilty today to a criminal information charging him with tax evasion for tax years 2003 through 2005 and 2007 through 2010, announced Principal Deputy Assistant Attorney General Caroline D. Ciraolo, head of the Justice Department’s Tax Division, and U.S. Attorney Robert L. Capers of the Eastern District of New York.

After Brexit, Will A BRICS-it Multilateral Financial System Be Next?

Date 28/09/2016

There is no doubt that the Central Securities Depositories community has evolved through the various partnerships that have been forged over the decades. While countries are leaving regional unions, such as Brexit, CSDs belonging to the BRICS nations continue to come together in the spirit of collaborating for the greater benefit of the financial markets.

CFTC Charges Introducing Broker eFloorTrade, LLC And Its Principal John Moore With Recordkeeping And Supervision Failures And Charges Moore For His False And Misleading Statements To The CFTC

Date 28/09/2016

The U.S. Commodity Futures Trading Commission (CFTC) filed a civil enforcement action in the U.S. District Court for the Southern District of New York against eFloorTrade, LLC (eFloorTrade) and its majority owner and sole principal John Moore, charging them with recordkeeping and supervision failures and charging Moore with making false and misleading statements of material fact, or omitting material facts, in sworn testimony before the CFTC. eFloorTrade, headquartered in Orlando, Florida, is registered with the CFTC as an Introducing Broker, and Moore, also of Orlando, is registered with the CFTC as an Associated Person of eFloorTrade.

Canadian Regulators Release New Results On Women On Boards And In Executive Officer Positions

Date 28/09/2016

The securities regulatory authorities in Manitoba, New Brunswick, Newfoundland and Labrador, Northwest Territories, Nova Scotia, Nunavut, Ontario, Québec, Saskatchewan and Yukon (the participating jurisdictions) today published CSA Multilateral Staff Notice 58-308 Staff Review of Women on Boards and in Executive Officer Positions – Compliance with NI 58-101 Disclosure of Corporate Governance Practices. 

Jane Norberg Named Chief Of SEC Whistleblower Office

Date 28/09/2016

The Securities and Exchange Commission today announced that Jane Norberg has been promoted to chief of the SEC’s Office of the Whistleblower. 

CalPERS: Cheryl Eason Appointed To Government Finance Officers Association Committee On Retirement And Benefits

Date 28/09/2016

Cheryl Eason, California Public Employees' Retirement System (CalPERS) chief financial officer (CFO), has been appointed to the Government Finance Officers Association (GFOA) Committee on Retirement and Benefits Administration (CORBA).

SEC Proposes Rule Amendment To Expedite Process For Settling Securities Transactions - Proposal Shortens Settlement Cycle From Three Business Days To Two

Date 28/09/2016

The Securities and Exchange Commission today voted to propose a rule amendment to shorten the standard settlement cycle for most broker-dealer securities transactions from three business days after the trade date (T+3) to two business days after the trade date (T+2). The proposed amendment is designed to reduce the risks that arise from the value and number of unsettled securities transactions prior to the completion of settlement, including credit, market, and liquidity risk directly faced by U.S. market participants. 

SIFMA Commends SEC Action To Facilitate A Shorter Settlement Cycle

Date 28/09/2016

SIFMA today issued the following statement from Kenneth E. Bentsen, Jr., SIFMA president and CEO, after the Securities and Exchange Commission (SEC) voted to propose a rule amendment that will help facilitate the industry’s initiative and timeline to achieve a shortened settlement cycle by September 5, 2017:

“We commend the SEC for its leadership in establishing a regulatory framework that supports a shortened settlement cycle. The SEC’s proactive efforts to update its rule will create the regulatory certainty the industry needs to move forward in its goal of achieving a T+2 settlement cycle by September 5, 2017. Shortening the time it takes to settle a trade will bring numerous benefits to investors and the U.S. financial system, including reducing operational risk, enhancing the overall efficiency of U.S. securities markets and aligning the U.S. with other international markets. This is truly a win for investors, the industry and all market participants."

SEC Adopts Rules For Enhanced Regulatory Framework For Securities Clearing Agencies

Date 28/09/2016

The Securities and Exchange Commission voted today to adopt new rules to establish enhanced standards for the operation and governance of securities clearing agencies that are deemed systemically important or that are involved in complex transactions, such as security-based swaps.  The Commission also voted to propose to apply the enhanced standards established by the new rules to other categories of securities clearing agencies, including all SEC-registered central counterparties.

Statement Of CFTC Chairman Timothy Massad On Expanded Interest Rate Swap Clearing Requirement Determination And Final Rulemaking

Date 28/09/2016

Central clearing is one of the great innovations of the financial system. Indeed, increasing the use of central clearing for over-the-counter swaps is one of the most important goals of the 2009 G20 Leaders’ agreement and the Dodd-Frank Act.