News Centre

Euronext: Viapresse Lists On Alternext Paris

Date 22/09/2015

EnterNext, the Euronext subsidiary dedicated to promoting and growing the market for SMEs , today congratulated Viapresse, the French specialist in online sales of magazine subscriptions, on its transfer from the Free Market to Alternext Paris. Viapresse has been listed on Alternext Paris since Thursday, September 10.

Statement At Open Meeting On Open-End Fund Liquidity Risk Management Programs; Swing Pricing; Re-Opening Of Comment Period For Investment Company Reporting Modernization Release, SEC Commissioner Michael S. Piwowar

Date 22/09/2015

Thank you, Chair White.

And thanks to the staff who worked so hard on this rulemaking. The numerous evenings and weekends you sacrificed have not gone unnoticed, and the results of those efforts are clearly reflected in the quality of this comprehensive proposal.

ESMA's Chair, Steven Maijoor, Gives ISDA Keynote Speech: Clearing The Way Towards An OTC Derivatives Union

Date 22/09/2015

Today Steven Maijoor, Chair of ESMA, delivered the keynote address at the 2015 ISDA Annual Europe Conference in London.

Statement On Open-End Fund Liquidity Risk Management Programs And Swing Pricing, SEC Commissioner Daniel M. Gallagher

Date 22/09/2015

Thank you, Chair White.  Before getting started, I would like to thank the staff from the Division of Investment Management for all their hard work on today’s release, especially Dave Grim, Diane Blizzard, Sarah ten Sietoff, Sarah Buescher, Melissa Gainer, Naseem Nixon, and Amanda Wagner.  In addition, I want to recognize the foundational work done by former director Norm Champ.  And of course I want to recognize the hard work of the staff from the Office of the General Counsel and the Division of Economic and Risk Analysis.

SIFMA AMG Statement On SEC Proposed Rules For Liquidity Risk Management Programs

Date 22/09/2015

SIFMA’s Asset Management Group (SIFMA AMG) issued the following statement from Timothy Cameron, managing director and head of SIFMA AMG, after the Securities and Exchange Commission (SEC) announced proposed rules for liquidity risk management programs for asset managers of mutual funds and other open-ended investment funds: 

CFTC Approves Supplement To Proposed Rulemaking To Modify The Aggregation Provisions Of Its Position Limit Rules

Date 22/09/2015

The U.S. Commodity Futures Trading Commission (Commission) today approved for public comment a supplement to its November 2013 proposal to modify the policy for aggregation under the Commission’s position limits regime for futures and option contracts in Part 150 of its regulations. As noted then, if the Commission’s proposed position limits regime for 28 exempt and agricultural commodity futures and options contracts and the physical commodity swaps that are economically equivalent to such contracts are finalized, the proposed modifications would also apply to aggregation under the position limits regime for those contracts and swaps.

European Banking Authority (EBA) Consults On Harmonised Definition Of Default

Date 22/09/2015

The European Banking Authority (EBA) launched today a consultation on its draft Guidelines specifying the application of the definition of default. The work is in line with an EBA Discussion Paper on the topic published earlier in the year which described the EBA's upcoming work on improving consistency and comparability in capital requirements. The consultation runs until 22 January 2016 and the EBA is also asking the public for feedback on a Quantitative Impact Assessment (QIS) of the Guidelines.

Statement Of CFTC Commissioner J. Christopher Giancarlo On The Proposed Changes To Aggregation Rules As Part Of The CFTC Position Limits Regime

Date 22/09/2015

I support these proposed changes to the aggregation rules because I believe they make the position limits regime more workable. However, this is just the first of many steps needed to make the CFTC’s approach to position limits less harmful to the risk management activities of American farmers, energy producers, manufacturers, risk-hedgers and trading institutions that do business around the globe. We must avoid at all costs adopting flawed government regulations that prevent our markets from operating effectively at a time of plunging commodity prices.[1] That means not displacing the everyday commercial judgement of farmers and businesses with a small set of allowable hedging options pre-selected by a Washington Commission with limited experience in commercial risk management.

New York State Department of Financial Services Announces Approval Of First BitLicense Application From A Virtual Currency Firm - NYDFS BitLicense Is First Comprehensive Regulatory Framework For Firms Dealing In Virtual Currency Such As Bitcoin - BitLicense Includes Key Consumer Protection, Anti-Money Laundering, Cyber Security Rules To Help Safeguard Customer Funds And Root Out Illicit Activity

Date 22/09/2015

Anthony J. Albanese, Acting Superintendent of Financial Services, announced today that the New York State Department of Financial Services (NYDFS) has approved Circle Internet Financial’s BitLicense application – making it the first company to receive a BitLicense from NYDFS. The BitLicense – which NYDFS finalized in June 2015 – is the first comprehensive regulatory framework for firms dealing in virtual currency such as Bitcoin, and includes key consumer protection, anti-money laundering compliance, and cyber security guidelines.

Statement Of CFTC Chairman Timothy Massad On The Proposed Rulemaking To Modify the Aggregation Provisions Of Position Limit Rules

Date 22/09/2015

As part of the Dodd-Frank Wall Street Reform and Consumer Protection Act, Congress mandated that the CFTC adopt limits to address the risk of excessive speculation in physical commodity derivative contracts. In 2013, the Commission proposed these rules on “position limits.” These proposed rules included guidelines to determine which accounts and positions a person with an ownership interest must aggregate to determine compliance. In addition, the Commission separately proposed an exemption process from this “aggregation” requirement.