Our two-day workshop on non-standard monetary policy measures is coming to a conclusion. Similar workshops have become a regular part of our annual conference schedule here at the ECB for almost ten years now. They keep offering novel insights and help to deepen our understanding on the transmission and optimal conduct of non-standard measures. This…

Last week, on September 5, 2017, the securities industry successfully implemented a shortened settlement cycle for most securities transactions, pursuant to amendments to Rule 15c6-1 that the Commission adopted earlier this year.  The move to a two business day standard settlement cycle – or T+2 – was the product of extensive preparation and coordination among regulators and industry.  This change represents a significant milestone for the securities markets – the standard settlement cycle was last shortened in 1995 when it moved from five business days to three business days.  The first transactions covered by the amended rule settled on September 7, 2017. 

The benefits of a shortened settlement cycle extend throughout the financial sector.  The shortened settlement cycle, which was largely enabled by advances in technology, should reduce certain risks in the clearance and settlement process, including credit, market, and liquidity risks for central counterparties, their members, and other market participants.  It also should enhance efficiency by promoting innovation and changes in market infrastructures and operations. 

“Last week’s transition to a T+2 standard settlement cycle represents a significant accomplishment,” said SEC Chairman Jay Clayton.  “Going forward, investors and other market participants will be able to receive the proceeds of their securities transactions one day sooner, thereby enhancing the overall efficiency of the U.S. securities markets.  I would like to thank my colleagues, including Commissioners Piwowar and Stein and the staff of the Commission, for their leadership in achieving this important result.”

“Last week, the U.S. securities markets terminated the outdated T+3 settlement cycle and successfully implemented T+2,” said Commissioner Michael Piwowar.  “I applaud the Commission staff and market participants for achieving a smooth transition to a new environment that provides greater efficiency and less risk to the American people.”

“The shortened settlement cycle benefits investors and contributes to the resiliency of our securities markets,” said Commissioner Kara Stein.  “I look forward to future collaborative efforts as we work together to further enhance our market structure.”

If you have additional questions about this transition to the T+2 standard settlement cycle, the Commission will continue to maintain the previously-established e-mail address – T2settlement@sec.gov – for the submission of inquiries to SEC staff. 

The Securities and Exchange Commission, Municipal Securities Rulemaking Board (MSRB), and Financial Industry Regulatory Authority (FINRA) today announced the opening of registration for the Compliance Outreach Program for Municipal Advisors. 

There is no cost to attend the program, which provides an open forum for municipal advisory industry professionals to discuss compliance practices with regulators and promote a more effective compliance structure for regulatory obligations of municipal advisors.  The event will be held at the SEC’s Atlanta Regional Office on November 8, from 9:00 a.m. to 4:00 p.m. ET, and webcast live on the SEC’s website. Additional information, including the agenda, is available on the SEC, MSRB, and FINRA websites.

The SEC’s Office of Compliance Inspections and Examinations (OCIE) and Office of Municipal Securities are partnering with the MSRB and FINRA to sponsor the program.  Topics of discussion include the duties and standards of conduct for non-solicitor municipal advisors under MSRB Rule G-42 and the Securities and Exchange Act of 1934, and municipal advisor compliance with supervision, registration, and books and records rules. The program also will include a roundtable discussion among the regulators and a question and answer session with participants.

“This program is designed to promote compliance with municipal advisor regulations and affords the industry the opportunity to hear from all three regulators on the regulatory obligations of municipal advisors,” said Rebecca Olsen, Deputy Director of the SEC’s Office of Municipal Securities.  Suzanne McGovern, Assistant Director of the SEC's broker-dealer and municipal advisor examination programs, added, “This municipal advisor outreach will take a deeper dive into regulatory requirements and their practical implementation, helping municipal advisor professionals ensure proper regulatory compliance.”

MSRB Executive Director Lynnette Kelly said, “This program is consistent with the MSRB’s goal of assisting municipal advisors in understanding and complying with their regulatory obligations, and municipal advisors will benefit from getting first-hand feedback from our staff.”

Mike Rufino, FINRA’s Head of Member Regulation-Sales Practice, said, “Any firm that wants to enhance its understanding of the regulatory expectations in the important areas of fiduciary duty and supervision will benefit from participating in the outreach program.”

Registration is being administered by the MSRB and is open to all municipal advisor industry professionals, with a maximum of two in-person attendees per firm. In-person attendance is limited to a first-come, first-served basis.  For those who cannot attend in person, the program will be webcast live on the SEC’s website. 

Register to attend the program here.  Information on accessing the webcast and the links to program materials will be posted on the SEC, MSRB, and the FINRA websites on the day of the program.

Almost all firms and individuals offering, promoting or selling financial services or products in the UK have to be authorised by us.

However, some firms act without our authorisation and some knowingly run investment scams. 

This firm is not authorised by us and is targeting people in the UK. Based upon information we hold, we believe it is carrying on regulated activities which require authorisation.

Genworth Consultant Group

Address: 140 West Street, New York, 10007. USA

Telephone: +16467571234

Fax: +16467864413

Email: [email protected]; [email protected]; [email protected]   

Website: www.genworthconsultantgrp.com; www.genworthconsultant.com

How to protect yourself

We strongly advise you to only deal with financial firms that are authorised by us, and check the Financial Services Register to ensure they are. It has information on firms and individuals that are, or have been, regulated by us.

If you want to check a consumer credit firm that may not yet have been authorised by us, please also check the Interim Permission Register.

If a firm does not appear on the Register but claims it does, contact our Consumer Helpline on 0800 111 6768.

There are more steps you should take to avoid scams and unauthorised firms.

You should also be aware that if you give money to an unauthorised firm, you will not be covered by the Financial Ombudsman Service or Financial Services Compensation Scheme (FSCS) if things go wrong.

Report an unauthorised firm

If you think you have been approached by an unauthorised firm or contacted about a scam, you should contact our Consumer Helpline on 0800 111 6768. If you were offered, bought or sold shares, you can use our reporting form.

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Almost all firms and individuals carrying out financial services activities in the UK have to be authorised or registered by us. This firm is not authorised or registered by us but has been targeting people in the UK, claiming to be an authorised firm.

This is what we call a 'clone firm'; and fraudsters usually use this tactic when contacting people out of the blue, so you should be especially wary if you have been cold called. They may use the name of the genuine firm, the 'firm reference number' (FRN) we have given the authorised firm or other details.

You can find out more about this scam tactic and how to protect yourself from clone firms.

Clone firm details

Fraudsters are using or giving out the following details as part of their tactics to scam people in the UK:

Fisher Investments Institutional Funds PLC (clone of FCA authorised firm)

Address: 2nd Floor, Block E, Iveagh Court, Harcourt Road, Dublin 2, Ireland

Telephone: 0203 393 1989

Website: http://fisherfundsplc.co.uk 

Be aware that the scammers may give out other false details or mix these with some correct details of the registered firm.

FCA authorised firm details

This FCA authorised firm that fraudsters are claiming to work for has no association with the ‘clone firm’. It is authorised to offer, promote or sell services or products in the UK and its correct details are:

Firm Name: Fisher Investments Institutional Funds PLC

Firm Reference Number: 709824

Address: 2nd Floor, Block E, Iveagh Court, Harcourt Road, Dublin 2, Ireland

How to protect yourself

We strongly advise you to only deal with financial firms that are authorised by us, and check the Financial Services Register to ensure they are. It has information on firms and individuals that are, or have been, regulated by us.

If you want to check a consumer credit firm that may not yet have been authorised by us, please also check the Interim Permission Register.

If a firm does not appear on the Register but claims it does, contact our Consumer Helpline on 0800 111 6768.

There are more steps you should take to avoid scams and unauthorised firms.

You should also be aware that if you give money to an unauthorised firm, you will not be covered by the Financial Ombudsman Service or Financial Services Compensation Scheme (FSCS) if things go wrong.

Report a clone firm

If you think you have been approached by an unauthorised or clone firm, or contacted about a scam, you should contact us. If you were offered, bought or sold shares, you can use our reporting form.

What to do if your firm is cloned

If you think your authorised firm has been cloned or scammers are fraudulently using your name or other details, contact our Firm Helpline on 0300 500 0597.

Let's block ads! (Why?)

Almost all firms and individuals carrying out financial services activities in the UK have to be authorised or registered by us. This firm is not authorised or registered by us but has been targeting people in the UK, claiming to be an authorised firm.

This is what we call a 'clone firm'; and fraudsters usually use this tactic when contacting people out of the blue, so you should be especially wary if you have been cold called. They may use the name of the genuine firm, the 'firm reference number' (FRN) we have given the authorised firm or other details.

You can find out more about this scam tactic and how to protect yourself from clone firms.

Clone firm details

Fraudsters are using or giving out the following details as part of their tactics to scam people in the UK:

Financial Point (clone of FCA authorised firm)

Address: 210 Regent Street, Little Marlborough Street London W1B 5AH

Tel: 02031290256; 02037697049; 02031290257; 07711824333

Email: [email protected]

Web: www.financialpoint.co.uk

Be aware that the scammers may give out other false details or mix these with some correct details of the registered firm.

FCA authorised firm details

This FCA authorised firm that fraudsters are claiming to work for has no association with the ‘clone firm’. It is authorised to offer, promote or sell services or products in the UK and its correct details are:

Firm Name: OBI Finance Ltd

Firm Reference Number: 734768

UK Company House: 09949399

Address: 160 Kemp House, City Road, EC1V 2NX

Telephone: +44 7005938778

Email:[email protected]

Website: www.one2oneloans.com

How to protect yourself

We strongly advise you to only deal with financial firms that are authorised by us, and check the Financial Services Register to ensure they are. It has information on firms and individuals that are, or have been, regulated by us.

If you want to check a consumer credit firm that may not yet have been authorised by us, please also check the Interim Permission Register.

If a firm does not appear on the Register but claims it does, contact our Consumer Helpline on 0800 111 6768.

There are more steps you should take to avoid scams and unauthorised firms.

You should also be aware that if you give money to an unauthorised firm, you will not be covered by the Financial Ombudsman Service or Financial Services Compensation Scheme (FSCS) if things go wrong.

Report a clone firm

If you think you have been approached by an unauthorised or clone firm, or contacted about a scam, you should contact us. If you were offered, bought or sold shares, you can use our reporting form.

What to do if your firm is cloned

If you think your authorised firm has been cloned or scammers are fraudulently using your name or other details, contact our Firm Helpline on 0300 500 0597.

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 Cryptocurrency network Ethereum set a new throughput record over the weekend, with over a half million transactions processed in less than 24 hours. While the reported Chinese ICO ban and concerns over a billion dollar lawsuit with Ripple have depressed crypto markets, Ethereum has proven resilient continuing to grow its user base and...
Monetary policy has had a powerful impact on financial markets in recent years.[1] There is compelling international evidence that non-standard policy measures, such as asset purchases, forward guidance and negative interest rates, have been successful in altering relative asset prices in a way that is consistent with the predictions of portfolio rebalancing theory and the…
Officials at European Central Bank have reportedly agreed plans to reduce monetary stimulus measures, ending nearly three years of money-printing. The ECB will now take the first steps to reduce the euro zones reliance on quantitative easing in a bid to reduce bubbles and return to solid growth. President Mario Draghi has...

Almost all firms and individuals offering, promoting or selling financial services or products in the UK have to be authorised by us.

However, some firms act without our authorisation and some knowingly run investment scams. 

This firm is not authorised by us and is targeting people in the UK. Based upon information we hold, we believe it is carrying on regulated activities which require authorisation.

Johnston and James Consultancy / J&J Consultancy

Address: 14241 Dallas Parkway, JP Morgan International Plaza III, Suite 650, Dallas, Texas, 75254, United States

Telephone: 1 777 889 1508, 1 469 249 1209, 1 777 889 1648

Fax: 1 469 249 1209

Email: [email protected]

Website: www.johnstonandjamesconsultancyfirm.com

How to protect yourself

We strongly advise you to only deal with financial firms that are authorised by us, and check the Financial Services Register to ensure they are. It has information on firms and individuals that are, or have been, regulated by us.

If you want to check a consumer credit firm that may not yet have been authorised by us, please also check the Interim Permission Register.

If a firm does not appear on the Register but claims it does, contact our Consumer Helpline on 0800 111 6768.

There are more steps you should take to avoid scams and unauthorised firms.

You should also be aware that if you give money to an unauthorised firm, you will not be covered by the Financial Ombudsman Service or Financial Services Compensation Scheme (FSCS) if things go wrong.

Report an unauthorised firm

If you think you have been approached by an unauthorised firm or contacted about a scam, you should contact our Consumer Helpline on 0800 111 6768. If you were offered, bought or sold shares, you can use our reporting form.

Let's block ads! (Why?)