News Centre

Bermuda Stock Exchange Will Be Closed For Bermuda ‘Cup Match’ Public Holidays

Date 25/07/2016

The Bermuda Stock Exchange (“BSX”) advises that the BSX will be closed on Thursday 28 and Friday 29 July 2016, for the Emancipation Day and Somers Day (collectively known as “Cup Match”) public holidays in Bermuda. The BSX will reopen on Monday, 01 August, 2016.

SEC: LAN Airlines Settles FCPA Charges

Date 25/07/2016

The Securities and Exchange Commission today announced that South American-based LAN Airlines has agreed to pay more than $22 million to settle parallel civil and criminal cases related to improper payments it authorized during a dispute between the airline and its union employees in Argentina.

CFTC Staff Issues Advisory Clarifying Chief Compliance Officer Reporting Line Requirements

Date 25/07/2016

The U.S. Commodity Futures Trading Commission’s Division of Swap Dealer and Intermediary Oversight is issuing a staff advisory regarding chief compliance officer reporting line requirements for swap dealers, major swap participants, and futures commission merchants under Commission Regulation 3.3.

Federal Reserve Board Extends Comment Period For Advanced Notice Of Proposed Rulemaking Detailing Conceptual Frameworks For Capital Standards Until September 16, 2016

Date 25/07/2016

The Federal Reserve Board on Monday extended until September 16, 2016, the comment period for the advanced notice of proposed rulemaking (ANPR) detailing conceptual frameworks for capital standards that could apply to systemically important insurance companies and to insurance companies that own a bank or thrift.

Office of Financial Research Update: Assessment Of Threats To U.S. Financial Stability - Brexit

Date 25/07/2016

The U.S. Office of Financial Research today released its mid-year assessment of threats to U.S. financial stability. According to the OFR assessment, overall risks to U.S. financial stability remain in the medium range. However, they have been pushed higher by the vote in the United Kingdom to exit the European Union. The result surprised financial markets and was a negative shock to investor confidence.

EBA: Consultation On Report On The Appropriate Target Level Basis For Resolution Financing Arrangements Under BRRD (EBA-CP-2016-08 CP)

Date 25/07/2016

The European Banking Authority (EBA) launched a consultation on its report on the reference point for the target level of national resolution financing arrangements. The appropriateness of the basis for the target level is assessed on the basis of a number of qualitative criteria and historical data. The draft report recommends changing the basis from covered deposits to a total liabilities based measure. The consultation will run until 2 September 2016.

Statement By U.S. Treasury Secretary Lew At The G-20 In Chengdu, China

Date 25/07/2016

I would like to begin by first thanking our Chinese colleagues and the city of Chengdu for their gracious hospitality in hosting these important meetings.

During the last two days I underscored the fact that the United States remains a source of strength within the global economy, with real GDP more than 10 percent higher than its pre-recession peak. Solid growth in consumer spending during the second quarter combined with a strong labor market report in June suggests that the U.S. job market remains healthy.

EBA Consults On The Appropriate Basis For The Target Level Of Resolution Financing Arrangements

Date 25/07/2016

The European Banking Authority (EBA) launched a consultation on its report on the reference point for the target level of national resolution financing arrangements. The appropriateness of the basis for the target level is assessed on the basis of a number of qualitative criteria and historical data. The draft report recommends changing the basis from covered deposits to a total liabilities based measure. The consultation will run until 2 September 2016.

First Trading Day Ahold Delhaize On Euronext

Date 25/07/2016

Ahold Delhaize (ticker symbol: AD) celebrated its first trading day on Euronext. Following the successful merger of Ahold and Delhaize Group, Ahold Delhaize began trading on the Amsterdam and Brussels markets of Euronext. As of today, the company is part of the flagship indices of Euronext Amsterdam and Euronext Brussels; the AEX® and the BEL 20®.

Hong Kong's Securities And Futures Commission Commences MMT Proceedings Against Former Senior Executive Of ENN Energy Over Alleged Insider Dealing

Date 25/07/2016

The Securities and Futures Commission (SFC) has commenced proceedings in the Market Misconduct Tribunal (MMT) against Mr Cheng Chak Ngok, former executive director, chief financial officer and company secretary of ENN Energy Holdings Limited (ENN Energy), over alleged insider dealing in the shares of China Gas Holdings Limited (China Gas).