News Centre

Gunvor Ensures Continued Operations

Date 20/03/2014

Anticipating potential economic sanctions, and so to ensure with certainty the continued and uninterrupted operations of Gunvor Group Ltd's activities, the shares of the company held by Mr. Gennady Timchenko were sold on March 19 from his personal holding vehicle to Mr. Torbjorn Tornqvist personally. As a result, Mr. Tornqvist has become the majority owner of Gunvor Group Ltd, with an 87 percent stake, and Mr. Timchenko has fully divested his entire holdings in the company. The remaining 13 percent of shares are held by senior employees of Gunvor. There are no outside shareholders.

Federal Reserve Releases Summary Results Of Bank Stress Tests

Date 20/03/2014

According to the summary results of bank stress tests announced by the Federal Reserve on Thursday, the largest banking institutions in the United States are collectively better positioned to continue to lend to households and businesses and to meet their financial commitments in an extremely severe economic downturn than they were five years ago.  This result reflects continued broad improvement in their capital positions since the financial crisis.

FSB RCG MENA Meeting 20 March 2014

Date 20/03/2014

The FSB Regional Consultative Group for the Middle East and North Africa held its fifth meeting on 20 March in Rabat, Morocco

Slack And The Labour Market - Speech By Martin Weale, External Member Of The Monetary Policy Committee, Bank )f England

Date 20/03/2014

Speaking to the Thames Valley Chamber of Commerce, Martin Weale sets out some new analysis of slack in the labour market.

Canadian Securities Regulators Seek Comment On Proposed Changes To OM Exemption And Two New Proposed Reports Of Exempt Distribution

Date 20/03/2014

The Alberta Securities Commission (ASC), the Autorité des marchés financiers (AMF), the Financial and Consumer Affairs Authority of Saskatchewan (FCAA) and the Financial and Consumer Services Commission New Brunswick (FCNB) (Participating Jurisdictions) have published for comment proposed amendments to National Instrument 45-106 Prospectus and Registration Exemptions (NI 45-106) relating to the offering memorandum exemption (OM Exemption). The ASC, FCAA and FCNB have also published two new proposed reports of exempt distribution (Exempt Distribution Reports). 

Amnon Neubach – TASE Chairman Of The Board Of Directors

Date 20/03/2014

The Tel Aviv Stock Exchange (TASE) Board of Directors today (20/3/2014) approved unanimously the search committee’s recommendation to appoint Mr. Amnon Neubach as TASE’s new chairman of the board.

Comment From Trad-X On Divergence Of SEF Rules Amongst Global Regulatory Authorities

Date 20/03/2014

Daniel Marcus, CEO, Trad-X, comments:

"The final piece of an increasingly complex puzzle is the global coordination of regulatory reform. This divergence in global regulation previously resulted in unintended consequences such as fragmentation of liquidity. The interim substituted compliance relief period – in line with the Path Forward – has allowed for some of these issues to be mitigated, but there are still several questions about how the 24 March deadline, should it remain unchanged, will impact on liquidity and spreads."

EC Response To ESMA On Classification Of Financial Instruments

Date 20/03/2014

ESMA has published the response received from Commissioner Michel Barnier in response to its letter of 14 February regarding the classificiation of financial instruments as derivatives.

Securities And Exchange Board Of India Bars Financial Technologies From Owning Stake In Stock Exchanges

Date 20/03/2014

The Securities and Exchange Board Of India has ordered Financial Technogies India to sell its stakes in four Indian exchanges.

ESMA Launches Discussion Paper On Central Securities Depositories Regulation

Date 20/03/2014

ESMA is calling for public feedback on possible content to draft technical standards on matters such as settlement discipline, CSD registration and requirements, including confirmation rules (acceptance or rejection of terms in good time before the intended settlement date) for trading venues and investment firms, as well as access to CSDs by other CSDs, participants and other market infrastructures.