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Shanghai Stock Exchange Issues "Implementation Guide To Listed Companies' Connected Transactions" - Tougher Requirements For Disclosure And Decision-making Processes Of Listed Companies' Significant Connected Transactions

Date 08/03/2011

The Shanghai Stock Exchange (SSE) published the "SSE Implementation Guide to Connected Transactions of Listed Companies" today for further standardization of listed companies' connected transactions. Based on a collection of provisions on connected transactions in existing rules, the Guide details the requirements for decision-making and disclosure processes of listed companies' connected transactions with a view to a more comprehensive supervision in the backdrop of a partially looser restriction. Concerning the significant connected transactions of listed companies' assets purchases at a high premium (of over 100%) from related parties, the Guide spells out stricter requirements for disclosure and decision-making processes.
CME Group Names Michel Everaert As Managing Director, OTC Solutions

Date 08/03/2011

CME Group, the world's leading and most diverse derivatives marketplace, today announced that it has named Michel Everaert as Managing Director, OTC Solutions. Everaert, 42, is responsible for overseeing OTC pre- and post-trade products. He will be based in London and will report to Laurent Paulhac, Managing Director, OTC Products & Services.
EDHEC-Risk Institute Warns The European Parliament Of The Dangers Of Banning Naked Sales Of Credit Default Swaps

Date 08/03/2011

In an open letter of March 8, 2011 addressed to the Chair of the Economic and Monetary Affairs Committee of the European Parliament, Sharon Bowles, and Pascal Canfin, the Committee’s Rapporteur on the draft EU regulation on short selling and credit default swaps, EDHEC-Risk Institute has warned of the dangers of prohibiting “naked” sales of sovereign credit default swaps.
IOSCO Launches Consultation On Suspension Of CIS Redemptions

Date 08/03/2011

The Technical Committee of the International Organization of Securities Commissions (IOSCO) has published a consultation report, Principles on Suspensions of Redemptions in Collective Investment Schemes , which analyses how different jurisdictions’ regulatory regimes address the suspension of redemptions by open-ended collective investment schemes (CIS) and proposes principles which provide general standards for how regulatory regimes should approach and oversee suspension of redemptions.
U.K. Conservative MEPs Say: Labour MEPs Vote For EU Taxes On The City Of London

Date 08/03/2011

A new tax on the City of London, controlled by the EU, has come a step closer after Labour MEPs backed a European Parliament call for an EU Financial Transaction Tax (EU FTT), Vicky Ford MEP, Conservative economics spokesman, warned today.

European Parliament: Tax Reform To Boost Revenue For EU And Developing Countries - A Financial Transaction Tax Without Further Delay

Date 08/03/2011

The EU should impose a financial transaction tax, even if it is alone in doing so, and clamp down on tax evasion and tax fraud, to boost revenue and efficiency in both the EU and developing countries, says Parliament in two resolutions voted in plenary on Tuesday.
Letter From Jonathan Faull Regarding The Extension Of The Deadline For Delivery Of ESMA’s Advice On AIFMD (Ref: EC 21-02-11)

Date 08/03/2011

Click here to download a letter from Jonathan Faull regarding the extension of the deadline for delivery of ESMA’s advice on AIFMD (Ref: EC 21-02-11).
10th Extract From The EECS’s Database On Enforcement Decisions (Ref: ESMA/2011/60)

Date 08/03/2011

Click here to download the 10th extract from the EECS’s database on enforcement decisions (Ref: ESMA/2011/60).
Preqin: Sovereign Wealth Fund Total Assets Swell To $4tn - Aggregate AUM Swells 11% In 12 Months - SWFs Intensify Alternative Investment Programs.

Date 08/03/2011

Research for the 2011 Preqin Sovereign Wealth Fund Review publication has revealed that the aggregate AUM of SWFs currently stands at almost $4tn, making 2010 the second year running in which SWF AUM has increased by 11%. The proportion of SWFs investing in alternatives also rose over 2010, despite the challenging financial climate.
Traiana Harmony For CFD Equity Swaps Expanded To The Buy-Side - Leading Buy-Side Firms Choose Harmony For CFD Equity Swap Post-Trade

Date 08/03/2011

Traiana, leading provider of post-trade solutions, announced today that it has extended Harmony’s contract-for-difference (CFD) equity swap network to buy-side firms. A growing group of the world’s leading buy-side firms are now connected to Harmony for complete CFD equity swap post-trade automation.