News Centre

UK Financial Conduct Authority Launches Three-Year Strategy To Improve Outcomes

Date 07/04/2022

• Resources focused on outcomes to prevent serious harm, set higher standards and promote competition
• 80 new roles created to shut down problem firms 

SGX RegCo’s Statement On Allied Technologies Limited’s Special Audit Report

Date 07/04/2022

Singapore Exchange Regulation (SGX RegCo) refers to the Notices of Compliance (NOC) issued to Allied Technologies Limited (the Company or ATL) on 8 and 23 May 2019 and the Company’s announcement dated 6 April 2022 on the special audit report prepared by the special auditor, PricewaterhouseCoopers Risk Services Pte Ltd (PwC). PwC reported the findings directly and solely to SGX RegCo.

Hong Kong Securities And Futures Commission Publicly Criticises Gao Yunhong And Feng Xuelian For Breaches Of The Takeovers Code

Date 07/04/2022

The Securities and Futures Commission (SFC) has publicly criticised Gao Yunhong and Feng Xuelian for breaching the no frustrating action rules under the Takeovers Code.

Dubai Financial Services Authority Introduces Whistleblowing Regime

Date 07/04/2022

The Dubai Financial Services Authority (DFSA) has today launched its regulatory regime for Whistleblowing. The regime is the first of its kind to be introduced by a financial service regulator in the UAE and applies to all DFSA Regulated Entities operating in or from the Dubai International Financial Centre (DIFC).

DIFC Launches First Global Venture Studio Launchpad To Grow The “Ubiquitous Finance” Ecosystem From Dubai

Date 07/04/2022

• New initiative, part of DIFC Strategy 2030, to use venture studios as a mechanism to incubate 10 unicorns, 100 scale-ups and over 8,000 innovation jobs from Dubai.
• Global first to provide a Venture Studio Launchpad and Research Living Lab to develop the “ubiquitous finance” ecosystem including Open Finance, Digital Assets and Web3 in DIFC.
• Reaffirms Dubai’s position as a global hub for financial technology and innovation.
• Designed in collaboration with Enhance Ventures, a leading venture studio in MENA and Silicon Foundry, a Silicon Valley-based innovation advisory group.

ASIC: Westpac To Pay $1.5 Million Penalty For Mis-Selling Consumer Credit Insurance

Date 07/04/2022

The Federal Court has ordered Westpac Banking Corporation pay a $1.5 million penalty for mis-selling consumer credit insurance with its credit cards and Flexi Loans to customers who had not agreed to buy insurance policies.

New Zealand Financial Markets Authority Issues New Infringement Notice Against Crowdfunding Platform Equitise

Date 07/04/2022

The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko has issued another infringement notice to Equitise Pty Ltd for failing to file financial statements on time, amid broader concerns about the firm’s ability to meet regulatory reporting deadlines.

ASIC To Allow COVID-19 Temporary Relief For Financial Advice To Automatically Repeal 15 April 2022

Date 07/04/2022

ASIC will allow the temporary relief in ASIC Corporations (COVID-19—Advice-related Relief) Instrument 2021/268 (COVID-19 Instrument) to be automatically repealed on 15 April 2022.

CFTC Financial Data For Futures Commission Merchants Update

Date 06/04/2022

The latest reports for February 2022 are now available.

Nodal Exchange Achieves Records In Power And Environmental Futures With >50% Growth

Date 06/04/2022

Nodal Exchange today announced new monthly and quarterly trading records in power and environmental futures.  In power, Nodal set a quarter record for Q1 2022 power futures volume with 850 million MWh, up 52% from Q1 2021.  Nodal also set a calendar month record for March 2022 with 303 million MWh of traded power futures volume in the month, up 51% from the prior year. Nodal Exchange also achieved record market share in monthly power futures with 48% in Q1 2022. Nodal continues to be the market leader in North American power futures having the majority of the open interest with a record 1.206 billion MWh at the end of March, which is roughly equivalent to the electricity usage of 113 million U.S. households for one year.