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Regulation, Trust And Social Licence - Opening Remarks By ASIC Chair, James Shipton, To The Australia And New Zealand School Of Government (ANZSOG) National Regulators Community Of Practice (Nrcop) Webinar On ‘Regulation, Trust And Social Licence’, Tuesday 11 August 2020

Date 11/08/2020

Introduction

Thank you, Marianne and good morning everyone.

Following on from Edward’s very insightful presentation, I want to touch on three things: 

1. What is trust and why trust is so important
2. I will then apply those concepts to the financial system – the system that we regulate – and explore how that intersects with the concept of a social license. In doing so, I will also explore the role of a regulator in catalysing trust in the system and the participants that it regulates; and
3. I will touch upon the importance of a regulator in developing trust itself in order to do its job effectively.

And, of course, I look forward to taking questions.

SGX Significantly Expands All-Asia Waterfront For Equity Derivatives

Date 11/08/2020

• Launch of 13 futures in August and September, covering almost 100% of Asia’s GDP
• SGX is the leading exchange for Asian derivatives

ASIC: Managed Fund Asset Valuations Must Be Reliable During COVID-19

Date 11/08/2020

ASIC is aware that valuations of illiquid assets have been challenging as a result of increased economic and financial uncertainties due to the COVID-19 pandemic. In this context, it is more important than ever that valuations of managed fund assets are regular, robust and reasonable.

American Financial Exchange® Welcomes Citizens Bank, N.A. Of Providence, RI, Marking The 200th Institution To Join The Exchange; AFX Membership Jumps 30% From Year-Ago Levels

Date 10/08/2020

The American Financial Exchange (AFX), an electronic exchange for direct lending and borrowing for American banks and financial institutions, announced that Citizens Bank, N.A. of Providence, Rhode Island, joined the AFX, marking the exchange’s 200th institution to become a member since its inception in 2015. AFX membership is up 30 percent from a count of 154 from August 1, 2019. The total assets of member banks are now over 2.9 trillion dollars.

FTSE Mondo Visione Exchanges Index Sets New Closing All-Time High Of 68,056.41, Index Up 6.6% In July

Date 10/08/2020

HKEX ended July as the world's largest exchange operator by market capitalisation.

Statement On SEC Response To The Report Of The President’s Working Group On Financial Markets, Chairman Jay Clayton, William Hinman Director, Division Of Corporation Finance, Dalia Blass, Director, Division Of Investment Management, Brett Redfearn, Director, Division Of Trading And Markets, Raquel Fox, Director, Office Of International Affairs, Sagar Teotia, Chief Accountant, Aug. 10, 2020

Date 10/08/2020

Public Comments May be Submitted to the Emerging Markets Roundtable Comment Page

On August 6, 2020, the President’s Working Group on Financial Markets, of which Chairman Clayton is a member, released its Report on Protecting United States Investors from Significant Risks from Chinese Companies (“PWG Report”). The PWG Report includes five recommendations for the Securities and Exchange Commission that are centered on strengthening protections for investors and promoting the integrity of our capital markets by (1) leveling the playing field for all companies listed on U.S exchanges and (2) improving disclosure regarding, and consideration by fiduciaries and other market professionals of, the risks of investing in emerging markets, including China. Chairman Clayton has directed the SEC staff to prepare proposals in response to the report’s recommendations for consideration by the Commission and to provide assistance and guidance to investors and other market participants as may be necessary or appropriate. The SEC staff also stands ready to assist Congress with technical assistance in connection with any potential legislation regarding these matters.

FINRA Fines Interactive Brokers $15 Million For Widespread AML Failures

Date 10/08/2020

FINRA announced today that it has fined Interactive Brokers LLC $15 million for widespread failures in the firm’s anti-money laundering (AML) program, which persisted for more than five years. As part of the settlement, FINRA also required Interactive Brokers to certify that it will implement the recommendations of a third-party consultant to remedy the firm’s AML program failures. Also today, the Securities and Exchange Commission, and Commodity Futures Trading Commission announced disciplinary actions fining Interactive Brokers $11.5 million for AML failures, resulting in more than $38 million in total fines and other penalties.

Autorité Des Marchés Financiers Seeking Applications For Two Positions On The Distribution Practices Advisory Committee

Date 10/08/2020

The Autorité des marchés financiers (“AMF”) is seeking applications for two positions on its Distribution Practices Advisory Committee (the “Committee”).

BSX Announced As Winner Of CFI.co 2020 Award For Best Offshore Securities Exchange (Caribbean & North Atlantic Region)

Date 10/08/2020

The Bermuda Stock Exchange (BSX) today announced that they have been named as the winner of the CFI.co 2020 award for Best Offshore Securities Exchange (Caribbean & North Atlantic Region).

Nasdaq CFO Michael Ptasznik To Present At UBS Financial Services Virtual Conference 2020

Date 10/08/2020

Who:Nasdaq CFO Michael Ptasznik    

What:UBS Financial Services Virtual Conference 2020    

When:Wednesday, August 12, 2020  1:20 PM ET     

Mr. Ptasznik’s presentation will be webcast at Nasdaq’s Investor Relations Website: ir.nasdaq.com/events.cfm