News Centre

The Securities Commission Malaysia’s AOB Reprimands Auditors For Failure To Comply With International Standards On Auditing

Date 29/01/2019

The Securities Commission Malaysia’s (SC) Audit Oversight Board (AOB) has reprimanded Gary Yong Yoon Shing and Jason Sia Sze Wan, partners of Nexia SSY, and Lye Ghee Kang, a partner of CAS Malaysia PLT (the “auditors”) for failure to comply with the International Standards on Auditing when auditing their respective public listed company clients.

Japan Exchange Group, Inc. And Consolidated Subsidiaries Consolidated Financial Results For The Nine Months Ended December 31, 2018 (Based On IFRS), Unaudited

Date 29/01/2019

Click here to download Japan Exchange Group's consolidated financial results for nine months ended December 31, 2018.

New Zealand's Fnancial Markets Authority And Reserve Bank Of New Zealand Report On Life Insurer Conduct And Culture

Date 29/01/2019

The Financial Markets Authority (FMA) and Reserve Bank of New Zealand (RBNZ) have completed their joint review of 16 New Zealand life insurers. This review follows the regulators’ bank review published in November 2018.

Circular Of Shanghai International Energy Exchange On Trading Adjustments Of Crude Oil Futures Contracts For Spring Festival 2019

Date 29/01/2019

Shanghai International Energy Exchange (hereinafter referred to as “INE”), the subsidiary of Shanghai Futures Exchange has released its Circular on Trading Adjustments of Crude Oil Futures Contracts for Spring Festival 2019 on January 29, 2019 as follows:

1. The market will be closed from 3:00 p.m. of February 1, 2019 to February 10, 2019. The market will resume trading on February 11, 2019 with the central auction session from 8:55 a.m. to 9:00 a.m. and the continuous trading on the night of that day.
2. If the Limit-locked market does not occur on January 31, 2019, INE will adjust the trading margin rate to 12% of the contract value and the price limit to ±10% from the settlement price of that day since the daily clearing process begins. In the case that the above adjusted trading margin rate and price limit vary from the current ones, the higher ones will prevail. 
3. The market will resume trading on February 11, 2019. As from the first trading day without the Limit-locked market, the trading margin rate and the price limit will return to 10% and ±8% respectively since the daily clearing process begins. Please refer to Risk Management Rules of the Shanghai International Energy Exchange for implementing other provisions concerning the trading margin and the price limit.

Shanghai Stock Exchange Releases Notice On Collateralized Repo Of Shares

Date 29/01/2019

To implement relevant requirements on preventing and defusing the shares collateral risks of listed companies given by the Financial Stability and Development Committee under the State Council and encourage and help market participants to defuse risks, upon the approval of the China Securities Regulatory Commission (CSRC), the Shanghai Stock Exchange (SSE) releases the “Notice on Issues Related to Collateralized Repo Trading of Shares” (the Notice for short) on January 18, 2019. The Notice comes into force on the date of release.

FINRA Working Paper: High Broker-Affiliated ATS Order Routing Associated With Lower Fill Rates, Higher Costs

Date 28/01/2019

Institutional orders routed by brokers that send a relatively high percentage of such orders through affiliated alternative trading systems (ATSs) tend to receive lower order fill rates and higher execution costs, according to a new working paper by FINRA’s Office of the Chief Economist.

CFTC Chairman Giancarlo: Bipartisanship, Goodwill And Common Sense Guided CFTC Through Government Shutdown

Date 28/01/2019

U.S. Commodity Futures Trading Commission (CFTC) Chairman J. Christopher Giancarlo issued the following statement regarding the CFTC’s return to operations:

“Following the Friday evening announcement of the continuing resolution to reopen the government, the CFTC resumed operations.  Today, we enthusiastically welcomed back hundreds of employees to our offices in Washington, Kansas City, Chicago and New York.  We are grateful for the professional manner in which they handled the uncertainty of the shutdown."

CFTC Financial Data For Futures Commission Merchants Update

Date 28/01/2019

Futures commission merchants (FCMs) and retail foreign exchange dealers (RFEDs) must file monthly financial reports with the CFTC's Division of Swap Dealer and Intermediary Oversight (DSIO) within 17 business days after the end of the month. Selected financial information from these reports is published below. The most recent month-end information generally is added within 12 business days after FCMs and RFEDs file their reports, but occasionally may be added later. For example:  The 17th business day filing “due date" for February 28, 2015 financial reports was March 25, 2015.  The 12 business day target for posting these data was April 10, 2015.

Shamoil T. Shipchandler, Regional Director Of The SEC’s Fort Worth Regional Office, Has Left The Agency

Date 28/01/2019

The Securities and Exchange Commission today announced that Shamoil T. Shipchandler, Director of the Fort Worth Regional Office, left the agency on Friday, January 25.  Under Mr. Shipchandler’s leadership, the Fort Worth office has brought numerous significant enforcement actions and has conducted examination activities that have strengthened compliance in the industry, including filing novel cases involving accounting fraud and cryptocurrency, and providing transparency to regional registrants.

Court Orders $1 Billion Judgment Against Operators Of Woodbridge Ponzi Scheme Targeting Retail Investors - Former Owner Robert H. Shapiro Fined $100 Million

Date 28/01/2019

The Securities and Exchange Commission today announced that a federal court in Florida ordered Woodbridge Group of Companies LLC and its former owner to pay $1 billion in penalties and disgorgement for operating a Ponzi scheme that targeted retail investors.