News Centre
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Parliamentary Joint Committee – Corporations And Financial Services, ASIC Chair James Shipton, Opening Statement, 28 February 2020 - Opening Statement By James Shipton, Chair, Australian Securities And Investments Commission, Parliamentary Joint Committee – Corporations And Financial Services, 28 February 2020
Date 27/02/2020
Introduction
Good morning Chair.
I would like to start by reporting on:
- ASIC’s ongoing work,
- our renewed governance and accountability framework,
- the strengthening of our risk management,
- enhancements to our workforce capabilities, and
- our response to pandemic events.
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Kelly L. Gibson Named Director Of SEC's Philadelphia Office
Date 27/02/2020
The Securities and Exchange Commission today announced that Kelly L. Gibson has been named Director of the Philadelphia Regional Office.
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Wall Street Tumbles With Dow Jones Industrial Average Registering Biggest Fall Ever On Coronavirus Fears
Date 27/02/2020
The Dow Jones plummeted again on Thursday recording its biggest one-day points fall in history, closing at 25,766.64, a fall of 1,191 points.
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SEC Charges South Carolina Energy Companies, Former Executives With Defrauding Investors, Charges Spring From Failed $9 Billion Nuclear Power Plant Expansion
Date 27/02/2020
The Securities and Exchange Commission today charged SCANA Corp., two of its former top executives, and South Carolina Electric & Gas Co. (SCE&G), now known as Dominion Energy South Carolina Inc., with defrauding investors by making false and misleading statements about a nuclear power plant expansion that was ultimately abandoned.
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TMX Markets Incident
Date 27/02/2020
UPDATE 6: The technical halt will remain in effect for the remainder of the day on TSX, TSX Venture and TSX Alpha. As a result, the TSX Market on Close Facility will not run today. We apologize for the inconvenience.
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SEC Charges Wells Fargo In Connection With Investment Recommendation Practices
Date 27/02/2020
The Securities and Exchange Commission today announced settled charges against Wells Fargo Clearing Services and Wells Fargo Advisors Financial Network for failing reasonably to supervise investment advisers and registered representatives who recommended single-inverse ETF investments to retail investors, and for lacking adequate compliance policies and procedures with respect to the suitability of those recommendations. The SEC ordered Wells Fargo to pay a $35 million penalty, which will be distributed to harmed investors.
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Financial Sector’s Cybersecurity Global Readiness Exercised By Quantum Dawn V
Date 27/02/2020
SIFMA today released the summary of key recommendations from its biennial Quantum Dawn cybersecurity exercise conducted in November 2019. This event enabled key public and private bodies around the globe to exercise their incident response protocols, both internally and externally, simulating how they would respond to global cyber-attacks. Participants included more than 800 representatives from over 150 financial firms, as well as more than 50 regulatory authorities, central banks, government agencies and trade associations across 19 countries.
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Canadian Securities Regulators Propose New Nationally Harmonized Crowdfunding Rules
Date 27/02/2020
The Canadian Securities Administrators (CSA) is seeking comment on proposed harmonized rules for start-up securities crowdfunding.
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TheCityUK Comments On The UK’s Approach To Negotiations With The EU
Date 27/02/2020
The UK Government has published its approach to negotiations with the EU ahead of negotiations opening between the UK and the EU next week.
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Comment - Duff & Phelps: EU/UK Relationship - FS Industry
Date 27/02/2020
Reacting to the UK policy document outlining the approach to the future relationship between the UK and EU, Mark Turner, Managing Director within Duff & Phelps’ compliance and regulatory consulting practice had the following to say about the financial services sector and regulation:
“The policy paper released today shows that the UK is striking a more comprehensive and aggressive stance than the previous government. The government highlights that the trading arrangements already in place with counties outside the EU do not bind them to EU regulation in financial services and beyond. This appears to be the UK government’s view on the position they want for the UK.”
