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80% Of Asset And Wealth Managers Say AI Will Fuel Revenue Growth While 'Tech-As-A-Service' Could See 12% Boost To Revenues By 2028: PwC 2024 Asset & Wealth Management Report

Date 19/11/2024

• Almost three-fourths (73%) of asset and wealth management (AWM) organisations say AI is seen as the most transformational technology over the next 2-3 years
• 81% are contemplating strategic partnerships, consolidations, or mergers and acquisitions (M&A) to enhance technological capabilities and build an 'extended tech ecosystem'
• Global assets under management (AUM) projected by PwC to hit US$171 trillion by 2028 at a 5.9% compound annual growth rate (CAGR), with alternatives to grow quicker – at 6.7% CAGR, to reach $27.6 trillion by 2028
• AWM organisations look to tokenisation to democratise finance: PwC expects tokenised investment funds to surge to over $317 billion in 2028, at a 51% CAGR
• Skills in high demand: 73% of asset managers considering M&A see access to skilled expertise as the number one driver of deal-making over next 2-3 years, yet 30% say they lack relevant skills and talent

The Saudi Arabia Capital Market Institutions Committee Discusses Market Infrastructure, Growth Opportunities, And Building A Sustainable Future

Date 19/11/2024

The "Capital Market Institutions Committee" concluded the 2024 Capital Market Institutions Forum, organized in collaboration with the Capital Market Authority (CMA) in Riyadh today, Tuesday, November 19, 2024. The forum was held under the theme "The Capital Market: Toward a Sustainable Future" and was sponsored by the Chairman of the CMA, H.E. Mohammed bin Abdullah Elkuwaiz.  

Singapore Exchange: Simplified Process For CDP Intestate Claims Worth Up To $5,00

Date 19/11/2024

Singapore Exchange (SGX Group) has worked with the Monetary Authority of Singapore (MAS) and the Public Trustee’s Office (PTO) to simplify the process for intestate claims for assets held with The Central Depository (CDP) valued at $5,000 or below. The simplified process will come into effect today. 

Hong Kong Securities And Futures Commission Withdraws Restriction Notice To Broker Over Client’s Suspected Insider Dealing After Obtaining Court Order To Freeze Assets

Date 19/11/2024

The Securities and Futures Commission (SFC) has withdrawn the Restriction Notice prohibiting Bright Smart Securities International (H.K.) Limited (Bright Smart) from disposing of or dealing with proceeds or assets in the account of Mr Barry Kwok Sze Lok in connection with suspected insider dealing in the shares of I.T Limited (I.T).

The 10th Anniversary Of Shanghai-Hong Kong Stock Connect Marks The Firm Progress In Institutional Opening Up Of Capital Market

Date 19/11/2024

Today, the HKEX Connect Summit was held in Hong Kong, China. Relevant officials from China Securities Regulatory Commission (CSRC) and Securities & Futures Commission (SFC) of Hong Kong, Shanghai Stock Exchange (SSE), Shenzhen Stock Exchange (SZSE), and the Stock Exchange of Hong Kong (HKEX) attended the summit. Wu Qing, Chairman of the CSRC, delivered a speech via video; Li Ming, Vice Chairman of the CSRC, attended the summit and delivered a speech; Qiu Yong, Chairman of the SSE, congratulated the meeting via video; Cai Jianchun, President of the SSE, delivered a keynote speech at the summit and discussed with the participants on trends and prospects of financial market connectivity.

Zhengzhou Commodity Exchange: Announcement On The Amendments To The Rules For Purified Terephthalic Acid Futures

Date 19/11/2024

The Amendments to the Detailed Rules of Zhengzhou Commodity Exchange for Purified Terephthalic Acid Futures, the Purified Terephthalic Acid Futures Contract Specifications, and the Futures Delivery Rules of Zhengzhou Commodity Exchange have been adopted at the 18th meeting of the 8th Board of Governors of Zhengzhou Commodity Exchange and filed with the China Securities Regulatory Commission. The amendments will be applicable to TA2510 and later contracts and take effect on the date of issuance.

Dalian Commodity Exchange: China Lists Log Futures To Serve Development Of Timber Industrial Chain

Date 19/11/2024

Chinese log futures were listed for trading on Monday and the trading of log options is set to begin on Tuesday, according to the Dalian Commodity Exchange (DCE).

Hong Kong Securities And Futures Commission And National Financial Regulatory Administration Top Management Met In Hong Kong

Date 19/11/2024

The Securities and Futures Commission’s (SFC) Chairman Dr Kelvin Wong and Chief Executive Officer Ms Julia Leung held a high-level meeting with the Minister of the National Financial Regulatory Administration (NFRA) Mr Li Yunze in Hong Kong yesterday.

CalPERS Climate Solution Commitments Surpass $53 Billion

Date 18/11/2024

CalPERS announced Monday it has committed more than $53 billion toward investing in climate solutions as part of a growing global transition toward a low-carbon economy.

Department of Justice: Former CEO Indicted For Role In Bribing Japanese Officials And BIT Mining Ltd. Resolves Foreign Bribery Investigation

Date 18/11/2024

An indictment was unsealed today charging the former CEO of 500.com (now BIT Mining Ltd.), Zhengming Pan, a Chinese national, with violations of the Foreign Corrupt Practices Act (FCPA). BIT Mining Ltd. has agreed to resolve investigations by the Justice Department and the Securities and Exchange Commission (SEC) into related FCPA violations arising from the company’s participation in a corrupt scheme to pay bribes to Japanese government officials.