News Centre

Making Executive Compensation More Accountable – To Keep It, It Should Be Earned, SEC Commissioner Luis A. Aguilar, July 1, 2015

Date 01/07/2015

When it comes to compensation, Americans believe you should earn your money.  They also believe, just as strongly, that you should not keep what you did not earn.  It’s fundamental to our values.  However, when companies have to restate their financial statements because they violated applicable reporting requirements, their executives may not be required to reimburse any incentive-based compensation that was erroneously paid.  In other words, they get to keep what they never should have received in the first place.

BM&FBOVESPA Presents The Results Of The Closed Hearing For The Corporate Governance Program For State-Run Companies - At The Event BM&FBOVESPA Also Presented The Schedule To Enhance Special Listing Segments

Date 01/07/2015

On Tuesday morning BM&FBOVESPA presented federal, state and market bodies, and experts, with the results of the closed hearing for the Corporate Governance Program for State-Run Companies. Taking part in the event were BM&FBOVESPA CEO Edemir Pinto; Brazilian Securities Commission (CVM) chairman Leonardo Pereira; and several capital market representatives.

SEC Charges Hedge Fund Advisory Firm With Conducting Fraudulent Fund Valuation Scheme

Date 01/07/2015

The Securities and Exchange Commission today charged a Greenwich, Conn.-based investment advisory firm and its two owners with fraudulently inflating the prices of securities in hedge fund portfolios they managed.

Moscow Exchange: Risk Parameters Change For Bonds And Futures

Date 01/07/2015

The following risk parameters will be applied starting from 6 July, 2015:

Bonds: attachment.

Futures: attachment.

Eurogroup To Discuss Greece’s State Of Play

Date 01/07/2015

The Greek government yesterday presented a last-minute proposal for a two-year agreement with the European Stability Mechanism (ESM) so as to fully cover its financing needs, combined with debt restructuring. "From the first we made clear that the decision to call a referendum was not the end but the continuation of a negotiation seeking better terms for the Greek people," an announcement from the office of the Prime Minister Alexis Tsipras said, adding that the Greek government will strive for a viable agreement within the euro up to the very end. The PM’s appeal however was rejected by eurozone finance ministers, hours before the existing bailout package expired at midnight.

Moscow Exchange: Risk Parameters Change For Securities

Date 01/07/2015

The following risk parameters for the securities MTSS, HYDR, VTBR, NVTK, EONR, URKA will be changed:

EU Structural Financial Indicators: 2014

Date 01/07/2015

• Decline in number of bank branches continues in most EU countries
• Number of bank employees down by about 74,000 to around 2.8 million
• Share of assets of five largest institutions at national level varies from 32% to 94%

GPW Launches High Volume Funds Programme

Date 01/07/2015

• GPW launches the High Volume Funds (HVF) programme addressed to mutual funds actively trading in equities and/or derivatives on GPW
• The objective of HVF is to improve the liquidity of GPW-listed instruments and enable the development of special funds including arbitrage funds
• The programme will last 12 months with an extension option

EEX Trading Results Of June 2015 – Volume On The Derivatives Market For Power And Emissions Increased Significantly

Date 01/07/2015

In June 2015, trading volumes on the power derivatives market of the European Energy Exchange (EEX) amounted to 184.0 TWh. Compared to the same month in the previous year, the volume increased by 84 percent (June 2014: 99.9 TWh). In this context, EEX recorded volume increases in all markets. Especially in French (+387 percent) and Italian (+172 percent) power futures as well as in Phelix Options (+111 percent), the trading volume was significantly above the volume from the previous year.

M&A Valued At US$ 449.8bn During H1 2015 - Mergermarket H1 League Tables

Date 01/07/2015

Mergermarket released its Global M&A Trend report with Financial Advisors League Tables for H1 2015.

Highlights for Europe include:

• Europe’s rebound in 2014 has slowed in H1 2015 with ongoing discussions for a potential Grexit, UK euro scepticism and a slide in the Euro value affecting outbound M&A. Announcements valued at US$ 449.8bn during H1 2015 were 8.1% below H1 2014.
• Inversion deals were a theme in 2014, but US regulations have visibly hindered deal making between US and European firms. Inbound M&A worth US$ 160.7bn has seen 40.0% of this come from the US (US$ 64.3bn), down from 67.1% in H1 2014. The expected Monsanto/Syngenta deal could be an indication of how future inversion deals are likely to turn out, pending approvals.