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ASIC: Licensing And Professional Registration Activities - 2023 Update

Date 21/09/2023

ASIC today has released its annual licensing report today. Report 772 Licensing and professional registration activities: 2023 update (REP 772) outlines ASIC’s licensing and professional registration activities, discusses new and proposed changes to processes, and notes other ASIC work that affects licensees.

"ASEAN, Alternative Energy, And Artificial Intelligence" - Keynote Speech By Mr Ravi Menon, Managing Director, Monetary Authority Of Singapore, At 61st ACI World Congress On 21 September 2023

Date 21/09/2023

The last time Singapore hosted this Congress was back in 2013. What a difference ten years can make.

ASIC Sues Crypto Exchange Alleging Design And Distribution Failures

Date 21/09/2023

ASIC has commenced civil penalty proceedings in the Federal Court against Bit Trade Pty Ltd, provider of the Kraken crypto exchange to Australian customers.

Monetary Authority Of Singapore Publishes Inaugural List Of Domestic Systemically Important Insurers In Singapore

Date 21/09/2023

The Monetary Authority of Singapore (MAS) today published its framework for designating domestic systemically important insurers (D-SIIs), and the inaugural list of four D-SIIs:

• AIA Singapore Private Limited
• Income Insurance Limited
• Prudential Assurance Company Singapore (Pte) Limited; and
• The Great Eastern Life Assurance Company Limited.

Readout: Secretary Of The Treasury Janet L. Yellen’s Pull Aside With Minister Of Finance Of Brazil Fernando Haddad

Date 20/09/2023

Today, Secretary of the Treasury Janet L. Yellen met with Brazil’s Minister of Finance Fernando Haddad on the sidelines of the United Nations General Assembly in New York. During their meeting, Secretary Yellen and Minister Haddad discussed the macroeconomic outlook as well as areas for additional cooperation between the two countries, including on climate related issues and strengthening the international financial architecture. Secretary Yellen also expressed U.S. support for Brazil’s upcoming G20 presidency.

SEC Approves Revised Privacy Act Rule

Date 20/09/2023

The Securities and Exchange Commission today approved a rule to revise the Commission’s regulations under the Privacy Act, which is the principal law governing the handling of personal information in the federal government. The final rule clarifies, updates, and streamlines the Commission’s Privacy Act regulations. In addition, the final rule revises procedural and fee provisions and eliminates unnecessary provisions. The final rule also allows for electronic methods to verify one’s identity and submit Privacy Act requests.

Statement On Final Amendments Under The Privacy Act, SEC Chair Gary Gensler, Sept. 20, 2023

Date 20/09/2023

Yesterday, the Commission voted to adopt amendments to the Securities and Exchange Commission’s rules under the Privacy Act of 1974, the principal law governing how the SEC handles personal information in SEC systems of records. I was pleased to support this adoption because it will update the Commission’s rules with respect to this important law. 

BOX Exchange Update: Bid-Ask Differentials For Various Symbols Through December 15, 2023

Date 20/09/2023

BOX Exchange LLC (“BOX”), recently distributed Notice 2023-308 detailing modified bid-ask differentials for certain option classes effective through December 15, 2023.

Statement Regarding Adoption Of Amendments To The Names Rule, SEC Commissioner Caroline A. Crenshaw, Sept. 20, 2023

Date 20/09/2023

It is no secret that the Federal securities laws and the SEC’s rules implementing them can be, at times, a little technical. We oversee a complex industry and this sometimes requires us to prescribe specific formulas or multifactor tests in service of our mission. But at their core, many of our regulations are designed to promote a simple idea that should be familiar to followers of the 20th-century philosopher Theodor Geisel: one is required to say what they mean, and to mean what they say.

Statement On Investment Company Names, SEC Commissioner Mark T. Uyeda, Sept. 20, 2023

Date 20/09/2023

Thank you, Chair Gensler, and my thanks to the staff for their presentations. Today, the Commission is adopting amendments to rule 35d-1 under the Investment Company Act, known as the “fund names rule,” and related Form amendments, including to Form N-PORT. While the adopting release makes a number of changes from the proposal, they ultimately do not go far enough.