News Centre

Federal Reserve Board Issues Repeal Of Regulation AA And Requests Comment On Proposal To Repeal Regulation C

Date 11/02/2016

The Federal Reserve Board on Thursday announced the repeal of one regulation and a proposal to repeal a second in order to comply with statutory provisions that transferred certain consumer protection rulewriting authority to the Consumer Financial Protection Bureau (CFPB).

US Justice Department: Morgan Stanley Agrees To Pay $2.6 Billion Penalty In Connection With Its Sale Of Residential Mortgage Backed Securities

Date 11/02/2016

The Justice Department today announced that Morgan Stanley will pay a $2.6 billion penalty to resolve claims related to Morgan Stanley’s marketing, sale and issuance of residential mortgage-backed securities (RMBS).  This settlement constitutes the largest component of the set of resolutions with Morgan Stanley entered by members of the RMBS Working Group, which have totaled approximately $5 billion.  As part of the agreement, Morgan Stanley acknowledged in writing that it failed to disclose critical information to prospective investors about the quality of the mortgage loans underlying its RMBS and about its due diligence practices.  Investors, including federally insured financial institutions, suffered billions of dollars in losses from investing in RMBS issued by Morgan Stanley in 2006 and 2007. 

FINRA Bars Two Brokers For Fraudulent Sales Of A Hedge Fund

Date 11/02/2016

The Financial Industry Regulatory Authority (FINRA) announced today that it has barred two Buffalo-based brokers – Timothy S. Dembski and Walter F. Grenda – from the securities industry for fraud in connection with the sale of a hedge fund, the Prestige Wealth Management Fund, LP. Dembski and Grenda's misconduct occurred while they were employed with Mid Atlantic Capital Corporation.

CFTC’s Energy And Environmental Markets Advisory Committee To Meet On February 25, 2016

Date 11/02/2016

The U.S. Commodity Futures Trading Commission (Commission) announces that the Energy and Environmental Markets Advisory Committee (EEMAC) will hold a public meeting at the Commission’s Washington, D.C. headquarters located at 1155 21st Street, NW, Washington, DC 20581. This meeting will take place on February 25, 2016 from 10:00 am to 1:30 pm.

CBOE Releases Study On Russell 2000 Options-Based Benchmark Indexes

Date 11/02/2016

• Compares Performance of Six Options-Based Benchmarks with Traditional Stock and Bond Indexes
• First Comprehensive Study to Examine Strategy Benchmarks Incorporating Russell 2000 Index Options

IMF Executive Board Statement On The Managing Director’s Selection Process

Date 11/02/2016

The Dean of the Executive Board of the International Monetary Fund (IMF), Mr. Aleksei Mozhin, made the following statement today:

“The period for submitting nominations for the position of the next Managing Director closed on Wednesday, February 10. One candidate, current Managing Director Christine Lagarde, has been nominated."

Methodology Of The Moscow Exchange Indices Calculation To Take Effect

Date 11/02/2016

On February 24, 2016, the new Methodology of the Moscow Exchange Indices Calculationwill come into force, the text of which was disclosed on the Moscow Exchange website on December 29, 2015.

ICE Endex Announces Results Of Gas Storage Auction

Date 11/02/2016

Intercontinental Exchange (NYSE:ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, today announced the results of the ICE Endex gas storage auction held on February 10, 2016, on behalf of GasTerra.

US Treasury Secretary Jacob J. Lew Supports Christine Lagarde For IMF Managing Director

Date 11/02/2016

“I am pleased to formally announce our decision to support Christine Lagarde to head the International Monetary Fund for a second term."

BBVA Increases Fintech Fund To $250 Million - Propel Venture Partners To Manage Investments And Launch European Fund In London

Date 11/02/2016

BBVA announces an increase in its financial technology ('fintech') fund to $250m and a partnership with Propel Venture Partners (Propel).  BBVA will invest its $250m in Propel's funds as a limited partner, and Propel will manage the investment independently in a move designed to ensure the capital continues to be invested in the best digital financial services startups.