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  • EBA Replies To Claims Concerning Common Equity Tier 1 Classification Of UniCredit Capital Instruments

    Date 24/07/2018

    The European Banking Authority published today its reply to claims by Caius Capital LLP that the European Central Bank (ECB) has breached Union law by not disqualifying the Common Equity Tier 1 (CET1) classification of Unicredit capital instruments due to arrangements involving a transaction known as Convertible and Subordinated Hybrid Equity-Linked Securities (CASHES). The EBA finds that there is no clear evidence of a breach of Union law by the ECB and therefore decided not to open a formal investigation. 

  • Monetary Authority Of Singapore Issues Prohibition Orders Against Chan Seet Fun For Misappropriation Of Client Monies

    Date 24/07/2018

    The Monetary Authority of Singapore (MAS) has issued 4-year prohibition orders against Ms Chan Seet Fun for the misappropriation of client monies.

  • Shenzhen Stock Exchange Publicly Denounces Changsheng Bio-Technology

    Date 24/07/2018

    The State Drug Administration notified on July 15 that Changchun Changsheng Bio-technology Co., Ltd. (hereinafter as “Changchun Changsheng”), subsidiary of Changsheng Bio-technology Co. Ltd. (hereinafter as “the Company”), was found violating relevant laws and regulations while producing freeze-dried rabies vaccines for human use. According to the notification, the State Drug Administration has launched an investigation on Changchun Changsheng and found that the company has seriously violated the Criteria for Quality Control of Drug Manufacturing by falsifying production records for its freeze-dried human rabies vaccines. Its sales of freeze-dried human rabies vaccines account for nearly one fourth of the total amount in domestic market. The announcement has provoked serious concern among the media and consumers. Jilin Food and Drug Administration has revoked Changchun Changsheng’s Drug GMP Certificate, ordering the company to halt its rabies vaccine production. In addition, Changchun Changsheng's "Diphtheri, Tetanus and Acellular pertussis Combined Vaccine, Adsorbed” fails to meet the standards for biological potency; Jilin Food and Drug Administration have initiated a series of administrative penalties against Changchun Changsheng such as confiscation of inventories and unlawful proceeds and imposing fines.

  • External Report On Fees And Costs Disclosure Welcomed By ASIC

    Date 24/07/2018

    The Australian Securities and Investments Commission (ASIC) has today released the external report into Regulatory Guide 97 Fees and costs disclosure (RG 97) commissioned in November 2017.

  • Further Optimizing Corporate Governance Structure, And Duly Fulfilling The Front-Line Regulatory Responsibility - Shenzhen Stock Exchange Releases The Amended Charter

    Date 24/07/2018

    Recently, Shenzhen Stock Exchange (“SZSE”) issued an amended version of the Charter of Shenzhen Stock Exchange (hereinafter referred to as the "Charter").