News Centre

New Zealand Financial Markets Authority - Consultation: Class Exemption Renewal For Disclosure Of Relevant Interests By Directors And Senior Managers, And NZCDC Settlement System

Date 22/05/2024

We are reviewing whether to renew two existing class exemption notices for a further five years: 

CFTC Chairman Behnam To Keynote At The HCMC Public Conference “Climate In The Center Of Economy”

Date 21/05/2024

CFTC Chairman Behnam To Participate In A Fireside Chat At The CCP Annual General Meeting 2024

Date 21/05/2024

Disclosure Of Cybersecurity Incidents Determined To Be Material And Other Cybersecurity Incidents[*], Erik Gerding, Director, SEC Division Of Corporation Finance, May 21, 2024

Date 21/05/2024

The cybersecurity rules that the Commission adopted on July 26, 2023 require public companies to disclose material cybersecurity incidents under Item 1.05 of Form 8-K.  If a company chooses to disclose a cybersecurity incident for which it has not yet made a materiality determination, or a cybersecurity incident that the company determined was not material, the Division of Corporation Finance encourages the company to disclose that cybersecurity incident under a different item of Form 8-K (for example, Item 8.01).  Although the text of Item 1.05 does not expressly prohibit voluntary filings, Item 1.05 was added to Form 8-K to require the disclosure of a cybersecurity incident “that is determined by the registrant to be material,” and, in fact, the item is titled “Material Cybersecurity Incidents.”  In addition, in adopting Item 1.05, the Commission stated that “Item 1.05 is not a voluntary disclosure, and it is by definition material because it is not triggered until the company determines the materiality of an incident.”  Therefore, it could be confusing for investors if companies disclose either immaterial cybersecurity incidents or incidents for which a materiality determination has not yet been made under Item 1.05.

SEC Chair Gensler Statement On Upcoming Implementation Of T+1 Settlement Cycle

Date 21/05/2024

Securities and Exchange Commission Chair Gary Gensler today issued the following statement on the conversion of the U.S. securities market to a T+1 standard settlement cycle, which will take place on May 28, 2024:

“For everyday investors who sell their stock on a Monday, shortening the settlement cycle will allow them to get their money on Tuesday. Shortening the settlement cycle also will help the markets because time is money and time is risk. It will make our market plumbing more resilient, timely, and orderly. Further, it addresses one of the four areas the staff recommended the Commission address in response to the GameStop stock events of 2021.”

UK Government’s MOBILIST Programme Underlines Commitment To Nigeria’s Capital Market For Sustainable Development

Date 21/05/2024

The UK Government shares the belief that Nigeria will benefit from the further development of its capital market and is keen to support it through its Mobilising Institutional Capital Through Listed Product Structures (MOBILIST) programme.

Bellwethers Of The Economy: The Need To Engage With Corporate Treasurers To Shape Our Markets - Speech By Nikhil Rathi, UK Financial Conduct Authority Chief Executive, Delivered At The Association Of Corporate Treasurers Annual Conference 2024

Date 21/05/2024

Highlights

• Regulators want and need engagement from corporate treasurers – who are a bellwether for what is really going on in the economy and the direct impact of regulation.
• The FCA’s wide ranging package of reforms is aimed at reducing burdens and barriers to raising finance as well as supporting the risk appetite in the economy that enables firms to secure the capital they need for investment.
• Innovations such as T+1 and a Digital Securities Sandbox are designed to make our markets and transactions more efficient and transparent, reducing the cost of capital for corporates.

Federal Reserve Board Issues Economic Well-Being Of U.S. Households In 2023 Report

Date 21/05/2024

The Federal Reserve Board on Tuesday issued its Economic Well-Being of U.S. Households in 2023 report, which examines the financial circumstances of U.S. adults and their families. Overall, the report shows that financial well-being was nearly unchanged from 2022 as higher prices remained a challenge for most households and workers continued to benefit from a strong labor market.

Transition In Action Agri-Food Report Unveils Strategies For Sustainable Finance In The Agri-Food Sector

Date 21/05/2024

Today, Climate Bonds Initiative (Climate Bonds) announces the release of its highly anticipated report, ‘Transition in Action Agri-Food’. This comprehensive document delves into the intricate landscape of sustainable finance within the Agriculture, Forestry and Other Land Use (AFOLU) sector, offering key insights and strategies to both real economy actors and financial institutions for driving systemic change.

ISDA derivatiViews: An Important Step For India’s Margin Rules

Date 21/05/2024

When Group-of-20 (G-20) leaders agreed an outline of the post-crisis regulatory framework in Pittsburgh in 2009, they were very clear that global standards should be implemented consistently in a way that ensures a level playing field and avoids fragmentation of markets. That has not always been the case in practice, but the Reserve Bank of India (RBI) recently finalized initial margin (IM) requirements for non-cleared derivatives that adhere closely to the spirit of that G-20 edict, enhancing the efficiency and competitiveness of the local market.