News Centre

Hong Kong Securities And Futures Commission Reprimands And Fines Goldman Sachs (Asia) L.L.C. US$350 Million For Serious Regulatory Failures Over 1Malaysia Development Berhad’s Bond Offerings

Date 22/10/2020

The Securities and Futures Commission (SFC) has reprimanded and fined Goldman Sachs (Asia) L.L.C. (Goldman Sachs Asia) US$350 million (HK$2.71 billion) for serious lapses and deficiencies in its management supervisory, risk, compliance and anti-money laundering controls that contributed to the misappropriation of US$2.6 billion from US$6.5 billion that 1Malaysia Development Berhad (1MDB) raised in three bond offerings in 2012 and 2013.

BIS: Assessing The Fiscal Implications Of Banking Crises

Date 22/10/2020

Summary

Focus

We propose a method to compute the probability distribution of the potential fiscal cost of a banking crisis - a key input in assessing the adequacy of a country's fiscal buffers. Using a sample of banking crises in advanced and emerging market economies, we approximate the cost with the post-crisis increase in government debt. We then examine which pre-crisis economic developments help anticipate those costs. We finally use that information to compute the probability distribution of the costs for individual countries given prevailing economic conditions.

UK Financial Conduct Authority Letter To The Treasury Select Committee On Passive Servicing Issues After The Transition Period

Date 22/10/2020

The FCA's Chief Executive, Nikhil Rathi, wrote a letter on 9 October to Rt Hon. Mel Stride MP, Chair of the Treasury Select Committee, about UK bank closures of the current accounts of customers living in the EU after the EU withdrawal transition period.

Bitfinex To List HUMAN Token (HMT)

Date 22/10/2020

Bitfinex (https://www.bitfinex.com/), a state-of-the-art digital token trading platform, announced today it will be listing HUMAN Token (HMT), the medium of exchange that will be used to power the decentralized labor markets built on the HUMAN Protocol (https://www.hmt.ai/). 

Top-25 Record Reported At MGEX

Date 22/10/2020

MGEX, a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO), reports that yesterday, October 21st was the 23rd best day in the history of the exchange with a total volume of 24,159 contracts.

SEC To Host Panel With Women Entrepreneurs Of Color On October 28

Date 22/10/2020

The Securities and Exchange Commission today announced it will host a virtual forum next week featuring women entrepreneurs and investors of color from Los Angeles and Atlanta discussing their business experiences and ways to improve access to capital for minorities and women.

BME Growth Welcomes Cuatroochenta

Date 22/10/2020

• The traditional bell ringing has been webcast via streaming
• It is the first company to move from BME’s Pre-Market Environment to BME Growth

ACER And ENTSOG Extend The Consultation Period On Their Recommendations To Mitigate Misconduct In EU Gas Balancing Markets

Date 22/10/2020

ACER and the European Network of Transmission System Operators for Gas (ENTSOG) have extended the public consultation period on their joint recommendations to mitigate potential misconduct in EU gas balancing markets. 

Bitfinex Announces Integration With pNetwork To Bring Crypto Assets Cross-Chain

Date 22/10/2020

iFinex Inc. has announced today an integration with the pNetwork (pTokens network). pTokens is a cross-chain system enabling assets to move frictionlessly from one blockchain network to another. At launch, pTokens’ pBTC, pETH, and pLTC, will be listed on non-custodial digital asset exchange and iFinex brand eosfinex, bringing the top crypto assets to the EOS blockchain through the Bitfinex on-chain ecosystem.

Digitizing And Streamlining Securities-Based-Lending From End-To-End In The Cloud - New Technology Provides A Fully Digital SBL Process, From Origination To Collateral Monitoring To Loan Servicing With Advisor And Client Self-Service Capability

Date 22/10/2020

Utilizing the latest in Cloud technology to enable end-to-end Securities-Based Lending (SBL), Rockall, a Broadridge Financial Solutions, Inc. (NYSE:BR) company, has launched the Broadridge SBL platform. With SBL becoming an ever-more important credit product for financial advisors and their clients, the Broadridge SBL platform combines Rockall’s existing credit and operational risk technology (FASTNET) with new loan origination capabilities (NAVIGATOR). This platform delivers a streamlined end-to-end process incorporating self-service loan management for the advisor and client.