News Centre

State Street Fed Comment: Now It's A Waiting Game Again

Date 18/09/2015

Comment from Lee Ferridge, head of North American macro strategy, State Street Global Markets, on the US Federal Reserve's interest rate decision:

“The consensus going into today’s announcement was fairly split on whether rates would be raised.  After reading the statement, it seems that concerns over China, late-summer volatility and stubbornly low inflation influenced their decision to keep rates unchanged. Additionally, the Fed’s international focus has increased the importance of US dollar strength, with the dollar becoming the doorway by which the global economy affects the domestic one. Now it’s a waiting game again and every upcoming meeting is on the table so long as data and conditions can justify a move. However, there is no guarantee that the conditions will be satisfactory ahead of the end of 2015.”

CFTC Orders Australia And New Zealand Banking Group Ltd. To Pay A $150,000 Penalty For Inaccurate Large Trader Reports For Physical Commodity Swap Positions

Date 18/09/2015

The U.S. Commodity Futures Trading Commission (CFTC) today issued an Order filing and simultaneously settling charges against Australia and New Zealand Banking Group Ltd. (ANZ), an Australia-based financial services company, for failing to comply with its obligation to submit accurate large trader reports (LTRs) for physical commodity swap positions, in violation of Section 4s(f) of the Commodity Exchange Act (CEA) and CFTC Regulations 20.4 and 20.7. The CFTC Order requires ANZ to pay a $150,000 civil monetary penalty and to cease and desist from committing further violations of the CEA and CFTC Regulations, as charged.

CFTC Orders Indiana Resident Terry Lee Phillips And His Two Companies To Pay Restitution And A Civil Monetary Penalty Totaling More Than $234,000 For Fraud And Misappropriation

Date 18/09/2015

The U.S. Commodity Futures Trading Commission (CFTC) today filed and simultaneously settled charges against Terry Lee Phillips of Indianapolis, Indiana, and his two companies, Phillips Investment & Trust LLC and Corporate I Communications & Technology Inc. (the Respondents), charging them with defrauding investors who provided funds to Phillips to trade commodity futures in a designated contract market. In addition, none of the Respondents has ever been registered with the CFTC, as required.

US Equities Industry ADV In August 2015 Was 7.9 Bn, Highest In Four Years, According To TABB Equities LiquidityMatrix For August 2015

Date 18/09/2015

US equities industry average daily volume in August 2015 was 7.9 billion, the highest in four years, says TABB Group research analyst Valerie Bogard, who compiles and analyzes the TABB Equities LiquidityMatrix™. 

FINRA Board Approves Rulemaking Item To Protect Seniors And Other Vulnerable Adults From Financial Exploitation

Date 18/09/2015

The Financial Industry Regulatory Authority (FINRA) announced that its Board of Governors approved a rulemaking item to help firms better protect seniors and other vulnerable adults from financial exploitation. The proposal would allow a firm to place a temporary hold on a disbursement of funds or securities and notify a customer's trusted contact when the firm has a reasonable belief that financial exploitation is occurring.

CFTC Orders Bitcoin Options Trading Platform Operator And Its CEO To Cease Illegally Offering Bitcoin Options And To Cease Operating A Facility For Trading Or Processing Of Swaps Without Registering - In First Action Against An Unregistered Bitcoin Options Trading Platform, CFTC Holds That Bitcoin And Other Virtual Currencies Are A Commodity Covered By The Commodity Exchange Act

Date 18/09/2015

The U.S. Commodity Futures Trading Commission (CFTC) today issued an Order filing and simultaneously settling charges against Coinflip, Inc. d/b/a Derivabit (Coinflip) and its chief executive officer Francisco Riordan for conducting activity related to commodity options transactions without complying with the Commodity Exchange Act (CEA) and CFTC Regulations, specifically, by operating a facility for the trading or processing of commodity options without complying with the CEA or CFTC Regulations otherwise applicable to swaps or conducting the activity pursuant to the CFTC’s exemption for trade options. Coinflip is based in San Francisco, California, and Riordan resides in San Francisco.

SEC Charges Florida-Based CPA With Fraud For Issuing Bogus Audit Opinions - CFO And Convicted Felon Also Charged

Date 17/09/2015

The Securities and Exchange Commission today imposed sanctions against a Florida-based certified public accountant for performing deficient and fraudulent audits and quarterly reviews for eight publicly traded companies, and issuing false and misleading audit opinions on the companies’ annual financial statements.

Remarks At The AICPA National Conference On Banks And Savings Institutions, James Schnurr, SEC Chief Accountant, Washington, D.C. , Sept. 17, 2015

Date 17/09/2015

Thank you for the kind introduction and the invitation to speak with you today. Before I begin, let me remind you that the views expressed today are my own and not necessarily those of the Commission, the individual Commissioners, or other colleagues on the Commission staff.

Today, I would like to share my thoughts and perspectives on some of our office’s key priorities — implementation of the new revenue recognition standard, the upcoming release of the FASB’s new credit impairment standard, and current thinking with respect to IFRS.

FIFA Press Statement On Secretary General Jérôme Valcke

Date 17/09/2015

IIROC Works With CSA To Improve Access To Fixed Income Information

Date 17/09/2015

The Investment Industry Regulatory Organization of Canada (IIROC) is pleased that the Canadian Securities Administrators (CSA) will work with IIROC to enhance fixed income regulation and increase post-trade transparency.