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UK’s Financial Conduct Authority Finds Failings In The Oversight Of Appointed Representatives In The General Insurance Sector

Date 22/07/2016

The Financial Conduct Authority (FCA) has found significant shortcomings in the control and oversight of appointed representatives by their principal firms in the general insurance sector in a thematic review published today.
China Exchanges Services (CESC) Index Report For June

Date 22/07/2016

Highlights
- CES HKMI outperformed CES A80
- FTSE 100 Index rose 4.4 per cent after Brexit vote; Japanese stocks slid 9.6 per cent as Japanese yen appreciated
- Shanghai-Hong Kong Stock Connect’s Southbound quota was 77 per cent used up at the end of June
- MSCI delayed the inclusion of A shares in its international indices, citing concerns about the Mainland’s need to approve A-share financial products
- An issuer listed Hong Kong’s first leveraged and inverse (L&I) products, which can only track overseas stock market indices in this initial stage; there are no plans at this time to allow issuers to offer products on A-share indices
Moscow Exchange Shareholders To Vote On Consolidation Of Subsidiaries At EGM On 2 September

Date 22/07/2016

At its meeting on 21 July 2016, Moscow Exchange"s Supervisory Board resoIved to call an Extraordinary General Meeting of Shareholders (EGM) to address the question of corporate restructuring of PJSC Moscow Exchange. The EGM will be asked to approve consolidation by PJSC Moscow Exchange of its 100%-owned subsidiaries CJSC MICEX Stock Exchange and MB Technologies and the terms and conditions of the restructuring. The EGM will be held on 2 September 2016.
Anna Kuznetsova And Igor Marich Elected To The Moscow Exchange Executive Board

Date 22/07/2016

On Thursday 21 July 2016, the Moscow Exchange (ticker MOEX) Supervisory Board appointed Anna Kuznetsova, Managing Director of MOEX"s Equity & Bond Market and Igor Marich, Managing Director of MOEX"s FX and Money Markets to be members of the Executive Board for two years.
The Colibri Group Announces Investment In Securities Training Corporation

Date 22/07/2016

The Colibri Group (“Colibri”), a leading provider of learning solutions to licensed professionals within the real estate, healthcare and personal care markets, is pleased to announce it has closed on an investment in Securities Training Corporation (“STC”), the market leader in securities training. Paul Weisman, current CEO of STC, will continue to lead the STC business and will join Colibri’s leadership team led by Mike Duran, CEO of Colibri. The rest of the STC management team will also remain in place.

United Kingdom Parliament Treasury Committee Update: Committee Endorses Appointment Of Andrew Bailey

Date 22/07/2016

The Treasury Committee publishes its report 'Appointment of Andrew Bailey as Chief Executive of the Financial Conduct Authority'. The Committee endorses the appointment.
Dalian Commodity Exchange: Domestic, Foreign Experts Explain Growing Commodity Prices

Date 22/07/2016

The first half of this year saw the domestic commodity market “set the record” of extensive increases. The causes and sustainability for this round of rebounds in the agricultural products drew the attention of the attendees at the “China International Cereals and Oils Industry Summit 2016” recently held in Chengdu. According to the market analysts, on one hand, the consumption demands for soybean meal and other products increased significantly, the bad weather conditions resulted in the reduced productions of soybean worldwide, and the gaps in supplies pushed up the prices of cereals and oils; on the other hand, the domestic currency was flowing from the virtual economy to the real economy, and the real economy showed signs of recovery, which was also one of the causes.
MNI China Business Sentiment Indicator: Chinese Business Sentiment Improves Further - New Orders and Availability Of Credit Fuel Optimism

Date 22/07/2016

Sentiment among executives at China’s largest companies picked up in July as gains in new orders, output and credit availability drove confidence higher, according to the latest edition of the MNI China Business Sentiment Survey. The improvement in most current measures suggests the Chinese economy remains in stabilisation mode.
Concurring Statement Of CFTC Commissioner Sharon Y. Bowen Regarding The Division Of Clearing And Risk’s Memorandum To All Registered Derivatives Clearing Organizations Regarding Recovery Plans And Wind-down Plans Maintained By Derivatives Clearing Organizations And Tools For The Recovery And Orderly Wind-down Of Derivatives Clearing Organizations

Date 21/07/2016

This staff memorandum provides thoughtful recommendations on central counterparty (CCP) recovery and wind-down. As Sponsor of the Market Risk Advisory Committee (MRAC), I have been a part of a number of public discussions on these crucial issues, including the committee’s very first meeting in 2015, which focused on CCP resilience in the event of a default of a significant clearing member.
Statement Of CFTC Chairman Timothy Massad On CFTC Staff Guidance Regarding Clearinghouse Recovery Plans And Wind-Down Plans

Date 21/07/2016

Clearinghouses have taken on an increased importance in the global financial system, and the CFTC is focused on making sure they remain strong and resilient. Today’s staff guidance, which will help clearinghouses improve their Recovery Plans and Wind-down Plans, is a critical part of that effort.