Securities Regulation Daily Wrap Up, WORTH NOTING—Other litigation, regulatory activity and industry news, (Aug 29, 2024)
Organizations Mentioned:New York Stock Exchange, Inc.
By WK Editorial Staff
A weekly roundup of other items of interest to the securities, commodities, and corporate governance communities.
CFTC NEWS AND SPEECHES—The CFTC is hosting an in-person career forum for law school students and graduates on September 25. The event will include a discussion with Sharon Bowen, a former CFTC Commissioner and the current Chair of the New York Stock Exchange, and CFTC Chair Rostin Behnam. In addition, attendees can engage directly with CFTC attorneys during a career information fair to learn more about attorney career paths at the CFTC. Along with the forum, the agency is launching its first Attorney Honors Program which will offer recent law school graduates that have successfully passed the bar hands-on experience in the regulation of the U.S. derivatives market. Honors program participants will receive training, mentorship, and the opportunity to rotate through various CFTC divisions, gaining experience in the regulatory and enforcement functions of the CFTC. The application deadline for the Attorney Honors Program is September 9 and registration for the career forum closes September 20.
INVESTOR EDUCATION—IOSCO updated its list of firms that are posing as investment service providers. The organization collates alerts and warnings from member regulators about firms that are not authorized to provide investment services in the member’s jurisdiction. Some of these firms are using names similar to those of authorized firms or are falsely claiming to be associated with authorized firms. The list, which comprises nearly 8000 alerts, can be filtered by keyword, regulator, jurisdiction, or topic.
ACCOUNTING AND AUDITING—The International Accounting Standards Board (IASB) published a proposed update to the IFRS Accounting Taxonomy 2024 to reflect new and amended IFRS Accounting Standards: (1) IFRS 19, Subsidiaries without Public Accountability: Disclosures, which was issued in May 2024; (2) amendments to IFRS 9, Financial Instruments, and IFRS 7, Financial Instruments: Disclosures, issued in May 2024; and (3) Annual Improvements to IFRS Accounting Standards—Volume 11, which was issued in July 2024. The proposed IFRS Taxonomy update includes changes to the IFRS Accounting Taxonomy to reflect the new and amended disclosure requirements introduced in these Standards. Comments are due October 28.
DERIVATIVES—The CFTC granted the registration of an 18th derivatives clearing organization. Kalshi Klear LLC was determined to have demonstrated its ability to comply with laws and regulations applicable to DCOs. Kalshi’s affiliate, KalshiEx LLC, is registered with the CFTC as a designated contract market. A list of the 18 DCOs registered since 2000 is available at the CFTC’s website.
IndustryNews: AccountingAuditing CFTCNews Derivatives InvestorEducation