Haruhiko Kuroda, who has supported Japanese Prime Minister Shinzo Abe's effort to drive up inflation, has been nominated to a second five-year term as governor of the Bank of Japan. The government has nominated Masazumi Wakatabe, a supporter of the BoJ's aggressive monetary policy, as deputy governor.
A Trump administration budget plan to partly fund the Commodity Futures Trading Commission through fees on the futures industry that would likely be passed on to end users is not sitting well with Senate Republicans. CFTC Chairman J. Christopher Giancarlo, who has sought additional funding, stayed neutral on the proposal when asked at a recent hearing.
MSCI has called on India's National Stock Exchange, BSE and Metropolitan Stock Exchange to reconsider their "unprecedented" ban on foreign exchanges' access to licensing and data. MSCI said the restrictions could cause "unnecessary disruptions in trading or a potential change in the market classification of the Indian market in the MSCI Indexes."
Billions of pounds of digital trade could be threatened if the UK leaves the EU without a data-transfer agreement, says Steve Wood, the UK's deputy information commissioner. British businesses are asking whether they need legal authority for UK-EU data exchanges after Brexit eliminates their automatic right to cross-border transfers, Wood says.
Philip Lane, governor of Ireland's central bank, and Spanish Economy Minister Luis de Guindos are under consideration for vice president of the European Central Bank. Lane appears to be the choice of the European Parliament's economic committee, while the French government "most likely" will back de Guindos, a source says.
The EU should make budget preparation more transparent and fully open to democratic oversight, the European Court of Auditors says. The budget should present a clear picture of "costs, benefits and net balances of EU membership," auditors say.
The Commodity Futures Trading Commission has warned investors to look out for cryptocurrency "pump-and-dump" schemes, in which promoters use social media and other online outlets to manipulate the market price of cryptocurrencies. The CFTC has received complaints from investors who have lost money through the scams.
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Trading was subdued on mixed Asian-Pacific stock markets Friday, with exchanges in China, Hong Kong and South Korea closed for Lunar New Year. Japan's Nikkei 225 gained 1.2%; Australia's S&P/ASX 200 slid 0.1%; and India's Sensex was down 0.8%.
France has reported an 8.9% unemployment rate for the fourth quarter, the lowest figure in nearly nine years, but Finance Minister Bruno Le Maire wants to ensure the drop in joblessness is the beginning of a long-term trend. Changes in apprenticeship and training being negotiated by the government should further improve employment in coming months, he says.
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The Securities and Exchange Commission has voted against the sale of the Chicago Stock Exchange, which trades about 1% of US stocks each day, to a Chinese-led consortium. SEC staffers had recommended approval.
Collateralized loan obligation funds won a significant legal battle when judges declared them exempt from a Dodd-Frank Act requirement that fund managers retain some of the risk. The case could give the White House momentum in revising Dodd-Frank.
The Massachusetts Securities Division has filed charges against Scottrade, accusing the broker-dealer of violating impartial-conduct standards of the US Labor Department's fiduciary rule. The state said Scottrade "held at least two sales contests which included retirement assets" that violated the rule's provisions.
Japan's privacy commission is drafting instructions to provide higher data protection for EU citizens transferred to jobs in Japan than is provided by domestic law. The Personal Information Protection Commission is preparing guidelines as part of an agreement with the European Commission.
Dan Bucsa, an oversight official at the Commodity Futures Trading Commission, has given a chilly reception to an executive's suggestion that the CFTC prioritize blockchain work more. It is up to the industry to "decide to transition to a new way of doing things," Bucsa says.
The China Securities Regulatory Commission and Kazakhstan's Astana Financial Services Authority have agreed to bolster cooperation on securities and futures regulation. Their memorandum of understanding also covers trade, bilateral exchanges and support of the Belt and Road project.
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