News Centre

BIS - Competitive Effects Of IPOs: Evidence From Chinese Listing Suspensions

Date 23/09/2020

Summary

Focus

We look at periods where all initial public offerings (IPOs) were suspended in China in order to assess the effect of IPOs on stock markets and individual listed firms.   

Statement On The Commission’s New And Improved Whistleblower Program Rules, SEC Commissioner Elad L. Roisman, Sept. 23, 2020

Date 23/09/2020

Good morning.  I am happy to vote in favor of the staff’s recommendation to update the rules governing our whistleblower program.

The Chairman has already thanked everyone individually, but I would like to add my thanks to the staff in the Office of the General Counsel, the Division of Enforcement—particularly the Office of the Whistleblower (“OWB”)—and the Division of Economic and Risk Analysis for this fine work. 

Three Quarters Of UK SMEs Think Innovation Is Important For Recovery From COVID-19, But Just 15% Think The Government Encourages Innovation, Research From GovGrant Reveals

Date 23/09/2020

• 85% of UK SMEs consider innovation an important part of Covid-19 recovery, yet less than a fifth (15%) strongly agree the Government is doing enough to support it
• Nearly a quarter (22%) of respondents have never claimed R&D tax credits, despite being aware they exist
• One fifth of SMEs said they had no strategy in place to track their IP

Statement Of SEC Commissioner Caroline Crenshaw On Whistleblower Program Rule Amendments

Date 23/09/2020

The remarkable Justice Ginsburg once wrote that the Commission possessed a “robust whistleblower program designed to motivate people who know of securities law violations to tell the SEC”. Our nation has a long history of motivating whistleblowers to come forward, dating all the way back to 1777, when the Continental Congress passed our first whistleblower protection law. And over time our laws have evolved to not just protect whistleblowers, but also to incentivize and encourage them to take personal and professional risks to help our government stop wrongdoing.

Cappitech: Implications Of Deutsche Borse Withdrawing From Regulatory Reporting Market

Date 23/09/2020

The regulatory reporting industry is constantly experiencing change. In 2020, this has included the start of new regulations (SFTR), Brexit implications and market end-point consolidation. In March, CME announced it would no longer be offering ARM, APA & Trade Repository services in Europe and Asia and now it has been confirmed that Deutsche Borse is withdrawing from the market through the sale of RRH to MarketAxess Trax which is already an end point for ARM and APA reporting. This has reduced the number of market players, with the inevitable effect of reduced competition in the short to medium term.

U.S. Equity Exchange Market Revenues To Reach $2.2 Billion In 2020 On Surging Trading Volumes; New Equity Exchanges Launched By MEMX, MIAX PEARL Equities And LTSE Present New Challenges To Incumbent Exchanges--New Burton-Taylor Report

Date 23/09/2020

• U.S. equity exchange revenues are projected to jump 12.9% in 2020.
• Record volumes driving projected 33.6% increase in net transaction revenues.
• Market data revenues and listing segments projected to see small increases.

Strengthening Our Whistleblower Program, SEC Chairman Jay Clayton, Sept. 23, 2020

Date 23/09/2020

Good morning. This is an open meeting of the U.S. Securities and Exchange Commission, under the Government in the Sunshine Act.  This morning, we have two items on the agenda.

DTCC Appoints Lisa Hershey As Chief Compliance Officer

Date 23/09/2020

The Depository Trust & Clearing Corporation (DTCC), the premier post-trade infrastructure for the global financial services industry, today announced the appointment of Lisa Hershey as Managing Director and Chief Compliance Officer with responsibility for leading the firm’s compliance function effective January 1, 2021. She will report to Ann Shuman, DTCC’s Managing Director and General Counsel.

ESMA Reappoints The Chairs Of Its Data And Investment Management Standing Committees

Date 23/09/2020

SEC Obtains Emergency Asset Freeze, Charges Ring Of Microcap Stock Manipulators Targeting Retail Investors

Date 23/09/2020

The Securities and Exchange Commission today announced that it has obtained an asset freeze and other emergency relief to halt a series of microcap market manipulation schemes that defrauded retail investors.