News Centre

CFTC Divisions Extend Time-Limited No-Action Relief From The Clearing And Trade Execution Requirements For Certain Affiliated Counterparties

Date 28/11/2016

The U.S. Commodity Futures Trading Commission’s (CFTC) Divisions of Clearing and Risk (DCR) and Market Oversight (DMO) today each extended previously-issued no-action relief from the clearing and trade execution requirements for certain inter-affiliate transactions. As described further below, DCR and DMO are extending, until December 31, 2017, no-action relief that was previously provided in DCR No-Action Letter 15-63 and DMO No-Action Letter 15-62, respectively.

Umbrellas Don’t Cause Rain - Speech By Gertjan Vlieghe, External MPC Member, Bank Of England

Date 28/11/2016

In a speech at Sheffield University, external MPC member Gertjan Vlieghe discusses the how the UK economic outlook has evolved recently and what this implies for the stance of monetary policy. He also examines several arguments that have been used to support the idea that low interest rates are counterproductive, either for the economy as a whole, or for a particular sector of the economy.

FTC And Department Of Justice Submit Comment To FERC On Need For Careful Market Power Analysis Of Electricity Markets

Date 28/11/2016

The Federal Trade Commission and the Department of Justice’s Antitrust Division have submitted a comment to the U.S. Federal Energy Regulatory Commission (FERC) regarding market power in wholesale electricity markets. The comment responds to a FERC request for comments on how it assesses market power with respect to mergers and electricity sales at market-based rates, which it evaluates under the Federal Power Act (FPA).

CFTC Commitments Of Traders Reports Update

Date 28/11/2016

The current reports for the week of November 22, 2016 are now available.

U.S. Department Of Justice: Upstate New York Woman Admits Stealing $3.1 Million From Cargill Inc. - Employee Caused Minnesota Company $25 Million In Losses

Date 28/11/2016

A Greene County, New York, woman pleaded guilty today to stealing at least $3.1 million from Cargill Inc. (Cargill) over 10 years and causing at least $25 million in losses.  The woman was an accounting manager at Cargill, the country’s largest privately held corporation, based in Minnetonka, Minnesota.

ISDA And IHS Markit Launch 2016 Variation Margin Protocol On ISDA Amend

Date 28/11/2016

The International Swaps and Derivatives Association, Inc. (ISDA) and IHS Markit today announced the launch of the ISDA 2016 Variation Margin Protocol on ISDA Amend, which automates the process for amending existing collateral documents or setting up new agreements in order to comply with new variation margin requirements going into effect on March 1, 2017.

FINRA Fines VALIC Financial Advisors, Inc. $1.75 Million For Failure To Prevent Conflicts Of Interest In Its Compensation Policy And For Other Supervisory Failures Related To Variable Annuity Sales

Date 28/11/2016

The Financial Industry Regulatory Authority (FINRA) announced today that it has fined Houston-based VALIC Financial Advisors, Inc. (VFA), a total of $1.75 million for failing to identify and reasonably address certain conflicts of interest in the firm’s compensation policy for instances when customers elected to move assets out of their VALIC variable annuities (VA), many of which were held in retirement plan accounts. The firm also failed to adequately supervise its VA business, including the sale of VAs with multiple share classes.

Autorité Des Marchés Financiers Holds Consultation On Regulation Of Real Estate Investments

Date 28/11/2016

The Autorité des marchés financiers (“AMF”) is holding a consultation on a draft Regulation respecting real estate prospectus and registration exemptions and the related Policy Statement.

European Commission - Fact Sheet - Central Counterparties Recovery And Resolution Proposal: Frequently Asked Questions

Date 28/11/2016

Unscheduled Updated Coefficients For Moscow Exchange Indices To Come Into Force

Date 28/11/2016

Due to unscheduled rebalance the following coefficients for Moscow Exchange indices come into force from November 29, 2016: