News Centre

Hong Kong Securities And Futures Commission Reprimands And Fines UBS AG And UBS Securities Asia Limited $11.55 Million For Regulatory Breaches

Date 03/08/2021

The Securities and Futures Commission (SFC) has reprimanded and fined UBS AG and UBS Securities Asia Limited (UBSSAL) (collectively, UBS) $9.8 million and $1.75 million respectively over various regulatory breaches.

EPA Publishes Response To FCA CP21/13 A New Consumer Duty, Raising Extra Burden Concerns For Firms

Date 03/08/2021

• The EPA’s response supports focus on consumer protection but fears extra costs and another layer of administration for firms will exclude smaller players, creating an extra barrier to market entry while harming broader competition.
• The EPA urges the FCA to consider excluding all payment that are not retail consumer-facing

Bursa Malaysia Seeks Public Feedback On Proposals Relating To The ACE Market One-Stop Centre

Date 03/08/2021

Bursa Malaysia Berhad (“Bursa Malaysia” or the “Exchange”) today issued a consultation paper seeking public feedback on the proposed amendments to the ACE Market Listing Requirements which aims to facilitate the Exchange as the one-stop centre for all approvals in relation to ACE Market initial public offerings (“IPOs”) and prospectus registration.

Shenzhen Stock Exchange Launches The CNI Xiangmi Lake Green Finance Index

Date 03/08/2021

SZSE’s wholly-owned subsidiary Shenzhen Securities Information Co., Ltd. and the People’s Government of Futian District, Shenzhen jointly launched the CNI Xiangmi Lake Green Finance Index (Abbreviation: Green Finance. Code: 980052) on August 2. As the first stock index in China that reflects the development of the green finance industry, it further shows the operating characteristics of listed companies in the green finance industry, facilitates Shenzhen, as a forerunner, to practice the concept of green development and build a green financial system, and assists in achieving the strategic goals of peak carbon emissions and carbon neutrality. SZSE’s President & CEO Sha Yan attended the launch ceremony.

Investor Activity On GPW Group Markets – July 2021

Date 03/08/2021

• GPW Main Market Electronic Order Book[1] equities turnover value decreased by 20.8% YoY to PLN 18.5 billion
• Derivatives turnover volume decreased by 8.8% YoY to 564,400 contracts
• Bonds turnover value on TBSP increased by 637% YoY to PLN 50.8 billion
• Electricity turnover volume increased by 12.6% to 21.4 TWh
• Natural gas turnover volume increased by 32.9% YoY to 16.8 TWh
• White certificates turnover volume increased by 50.0% YoY to 9.9 ktoe
• Turnover in Guarantees of Origin of RES electricity increased by 2.0% to 2.0 TWh

Wescom Credit Union Launches Credit Cards For Local University With Temenos - Southern California Credit Union Brings Sleek, Fast Digital Banking Services To The Westwood Collegiate Community Leveraging Temenos’ API-First Digital Banking Platform

Date 03/08/2021

Temenos (SIX: TEMN), the banking software company, today announced that Wescom Credit Union has launched two credit cards for a local university in Westwood, CA powered by Temenos Infinity the leading digital banking platform.

IAMAI-BACC Appoints India’s First Cyber Security Coordinator Dr Gulshan Rai As Its Advisory Board Member

Date 03/08/2021

The Blockchain and Crypto Assets Council (BACC), an industry body formed under the aegis of the Fintech Convergence Council of the Internet and Mobile Association of India (IAMAI), has announced the appointment of Dr Gulshan Rai, India’s first and former cybersecurity coordinator, as its Advisory Board Member. Dr Rai is also serving as a distinguished fellow, ORF.

AFMA Supports Reform Of Cross Border Financial Regulation

Date 03/08/2021

The Australian Financial Markets Association (AFMA) has responded to the Treasury consultation paper on regulatory relief for Foreign Financial Service Providers (FFSPs) of wholesale services. AFMA supports the Government’s decision to consider options for FFSP regulation that would restore previous relief outcomes. This would benefit Australian businesses dealing with financial entities located overseas to meet their growing investment diversification and financing needs.

ISDA Response To 2021 CDIC Amendments

Date 02/08/2021

The International Swaps and Derivatives Association, Inc. (“ISDA”) has been actively engaged for many years with providing input on regulatory reforms impacting derivatives in major jurisdictions globally, including Canada. ISDA appreciates the opportunity to provide comments to the Department of Finance Canada (the “Department”) with respect to proposed amendments (the “Proposed Amendments”) to the Canada Deposit Insurance Corporation Act (the “Act”) contained within Bill C-30 (the Budget Implementation Act) (the “Bill”).

SEC Staff Statement On The Proposed Expert Market, Division Of Trading And Markets Staff

Date 02/08/2021

On December 22, 2020, the Commission issued notice of and requested comment on a proposed exemptive order that, if adopted, would grant a conditional exemption from Rule 15c2-11 for certain publications of broker-dealer quotations on an expert market operated by OTC Link LLC.