News Centre

UK Financial Conduct Authority Appoints Sheldon Mills As Interim Executive Director Of Strategy And Competition

Date 13/02/2020

Speech By Mark Steward, FCA Executive Director Of Enforcement And Market Oversight, Delivered At The City & Financial Global Ltd Event, London

Date 13/02/2020

Highlights

• The point of financial penalties is deterrence but this is not the point of enforcement which is about just outcomes. In 2019 we imposed financial penalties of over £310 million on firms that also paid or are paying over £231 million in restitution. Addressing both serious misconduct as well as its consequences ensures just outcomes.  
• Most of the cases involving financial penalties have involved serious breaches of the General Principles. In these cases too little attention is paid to the General Principles in planning and organising what a firm is doing.
• Firms need to engage with the Principles when undertaking regulated activities. 

The ECB Rates The Link Between Iberclear And The Portuguese Depositary, Interbolsa, As "Eligible" - Participating Entities Of The BME Subsidiary And Its Clients Can Use Portuguese Eligible Securities In Monetary Policy Operations

Date 13/02/2020

The European Central Bank (ECB) has rated the link between Iberclear, the Spanish central securities depository and a BME subsidiary, and the Portuguese central securities depository, Interbolsa, as “eligible”, including it in the “List of eligible Links ".

HKFE Announces Revised Margins For Futures Contract: iShares FTSE A50 China Index ETF

Date 13/02/2020

Please be advised that pursuant to Exchange Rule 617(d) and HKCC Rule 402, the Exchange and the Clearing House have determined that with effect from the commencement of trading on Friday, 14 February 2020, (including the mandatory intra-day variation adjustment and margin call, if applicable), the margin levels of the following Futures Contract shall be as follows:

Moscow Exchange: The Evening Trading Session Starts Later For Derivatives 17 February 2020

Date 13/02/2020

Please note that the Derivatives Market evening trading session will begin five minutes later, i.e. at 7:05 pm MSK, on 17 February 2020 due to longer than usual data processing following the update of the trading & clearing platform scheduled for 15-16 February 2020.

Moscow Exchange: Risk Parameters Change For The Security RU000A0JWRV9

Date 13/02/2020

As per the Securities market risk parameters methodology, on 13.02.2020, 11-04 (MSK) the upper bound of the price band (up to 106.83) and initial margins (up to 8.75 %) for the security RU000A0JWRV9 were changed. New values are available here

An Economic Partnership Based On Close And Structured Cooperation: Key Principles For The Management Of The Future UK-EU Relationship In Financial Services

Date 13/02/2020

This paper sets out the key principles that should underpin the future economic partnership between the UK and EU from the perspective of financial services operating across the UK-EU border. It is based on the UK-EU Political Declaration and assumes autonomy of decision making for both the UK and EU. It also seeks to minimise the social and economic cost of disruption to capital flows supporting the real economy as a result of the UK’s withdrawal from the EU.

ASIC Permanently Bans Macquarie Financial Adviser

Date 13/02/2020

ASIC has permanently banned Queensland financial adviser Mr Warren Scott Acworth from providing financial services.

ASX Limited Half-Year Results To 31 December 2019 (1H20)

Date 12/02/2020

Financial highlights relative to the prior comparative period (pcp 1H19) based on the Group’s segment reporting 

• Solid earnings growth – EBIT up 6.0% to $315.1m and NPAT up 1.8% to $250.4m  
• Pleasing performance by all major businesses – operating revenue up 7.1% to $454.9m 
• Core activity plus strategic initiatives drove higher shareholder returns – interim dividend up 1.7% to 116.4 cents per share 
• Ongoing investment in operational infrastructure and risk management to strengthen foundations, support future growth and ensure long-term sustainability

CFTC Swaps Report Update

Date 12/02/2020

CFTC's Weekly Swaps Report has been updated, and is now available.