News Centre

SEC Adopts New Rule To Allow All Issuers To “Test-The-Waters”

Date 26/09/2019

The Securities and Exchange Commission today announced that it has voted to adopt a new rule that extends a “test-the-waters” accommodation—currently a tool available to emerging growth companies or “EGCs”—to all issuers.  Under the new rule, all issuers will be allowed to gauge market interest in a possible initial public offering or other registered securities offering through discussions with certain institutional investors prior to, or following, the filing of a registration statement. 

IMF Joins Global Network Of Central Banks And Supervisors As An Observer, Aiming To ‘Green The Financial System

Date 26/09/2019

The International Monetary Fund (IMF) has joined the Paris-based Network for Greening the Financial System (NGFS) as an Observer. The NGFS is the only forum worldwide bringing together central banks and supervisors committed to understanding and managing the financial risks and opportunities associated with climate change.

Taking Significant Steps To Modernize Our Regulatory Framework, SEC Chairman Jay Clayton, Sept. 26, 2019

Date 26/09/2019

Today, the Commission announced three important rulemakings. 

• Modernizing the Approval Framework for ETFs.  We adopted a new rule that (1) sets forth a clear and consistent framework that will allow exchange-traded funds (“ETFs”) meeting certain standardized conditions to come to market without obtaining an individualized exemptive order, and (2) amends certain forms to enhance disclosures for investors.
• Expanding “Testing-the-Waters” Communications to All Issuers.  We adopted a new rule that will extend to all issuers the flexibility provided by the JOBS Act to communicate with institutional investors about potential IPOs and other registered offerings to better gauge market interest.
• Enhancing Regulation in the OTC Markets.  We proposed amendments to rules governing the publication of quotations for over-the-counter (“OTC”) securities designed to better protect investors from fraud and manipulation, while at the same time facilitating more efficient OTC trading in certain well-capitalized issuers.

Toronto Stock Exchange Introduces The TSX30 - Canada's Premier Equities Marketplace Launches New Program To Showcase Top Performing Companies, TSX To Host Market Open Ceremony September 27

Date 26/09/2019

Toronto Stock Exchange (TSX) today announced the inaugural TSX30, a flagship program recognizing the 30 top-performing TSX stocks over a three-year period based on dividend-adjusted share price appreciation. The list of 2019 winners features both newer and established listed companies across a wide range of sectors and serves to highlight the power and diversity of investment opportunities in Canada's world class marketplace.

SEC Proposes Amendments To Enhance Retail Investor Protections - Actions Increase Availability Of Issuer Information And Modernize The Rule Governing Quotations For Over-The-Counter Securities

Date 26/09/2019

The Securities and Exchange Commission today announced that it has voted to propose amendments to Exchange Act Rule 15c2-11, which sets out certain requirements with which a broker-dealer must comply before it can publish quotations for securities in the over-the-counter (“OTC”) market.  The proposed amendments are designed to modernize the Rule, which was last substantively amended in 1991, and to enhance investor protection by requiring that current and publicly available issuer information is accessible to investors.  The proposed amendments would provide greater transparency to the investing public by requiring that information about the issuer and the security be current and publicly available before a broker-dealer can begin quoting that security. 

Bittrex Leverages Chainalysis Across Multiple Cryptocurrencies To Become Gold Standard For Compliance

Date 26/09/2019

Chainalysis, the blockchain analysis company, today announced the successful deployment of its compliance solution to Bittrex, the premier U.S.-based blockchain trading platform, across 10+ cryptocurrencies. Bittrex will use Chainalysis Know Your Transaction (KYT) to meet new and existing regulatory and compliance standards, and establish a safer, more secure platform for their users. 

Updates To UK Financial Conduct Authority's Directions Under The Temporary Transitional Power

Date 26/09/2019

Today, the Financial Conduct Authority (FCA) has updated and published draft directions under its Temporary Transitional Power (TTP). The TTP gives the FCA flexibility in applying post-Brexit requirements, allowing firms to transition to a new UK regulatory framework. The directions would only come into effect on exit day if the UK leaves the EU without an implementation period.

IOSCO Reviews Member Efforts To Deter Mis-Selling Of Complex Financial Products

Date 26/09/2019

IOSCO today published a Thematic Review report (Report) indicating that most of the participating jurisdictions have implemented the necessary rules aimed at preventing the mis-selling of complex financial products, consistent with IOSCO standards.

BIS Launches Green Bond Fund For Central Banks

Date 26/09/2019

The Bank for International Settlements (BIS) has launched an open-ended fund for central bank investments in green bonds. Responding to a growing demand for climate-friendly investments among official institutions, the BIS's green bond fund initiative helps central banks to incorporate environmental sustainability objectives in the management of their reserves. 

GPW Launches A Project To Establish A Corporate Venture Capital Fund

Date 26/09/2019

• GPW has launched a project to open a venture capital fund
• The objective is to develop GPW’s VC competences and enhance its relations with the environment of innovation