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ESMA Publishes An Opinion On The Framework For The Assessment Of Third Country Prospectuses And An Update To The CESR Recommendations On The PD

Date 20/03/2013

This opinion explains a framework for third country share prospectuses under Article 20 and sets out the role of the EU Member States’ competent authorities in scrutinising prospectuses under these arrangements.
UK's Financial Services Authority: Fyshe Horton Finney Stockbrokers Enters Special Administration Regime

Date 20/03/2013

The Financial Services Authority (FSA) has confirmed that Fyshe Horton Finney Stockbrokers has entered the Special Administration Regime (SAR) on 20 March 2013. Paul Boyle and David Clements at Harrisons Business Recovery & Insolvency (London) Limited have been appointed joint special administrators.
ESMA Publishes Q&As On EMIR Implementation

Date 20/03/2013

The European Securities and Markets Authority (ESMA) has published a set of Questions and Answers in order to promote common supervisory approaches and practices in the application of EMIR across the European Union.
Toronto Stock Exchange, TSX Venture Exchange, Montreal Exchange, TMX Select And Alpha Closed For Good Friday

Date 20/03/2013

Toronto Stock Exchange, TSX Venture Exchange, Montreal Exchange, TMX Select and Alpha will be closed on Friday, March 29, 2013 for Good Friday. Natural Gas Exchange will operate on a reduced trading schedule from 8:30 a.m. – noon (MDT).
Broadridge Says Rising Cost Pressures And Risks Drive The Need To Centralize Operations Across Asset Classes - New Report Identifies “Multi-Asset Class Conundrum” And Lays Out Best Practices Roadmap To Help Financial Services Companies Solve Post-Trade Complexities Across Business Lines

Date 20/03/2013

A new report released today by Broadridge Financial Solutions (NYSE:BR), a leading technology and operations solutions company for the global financial services industry, finds that leading financial firms are increasingly turning to external solutions providers as a way to attain post-trade processing simplicity while reducing technology costs and risks and enabling easier entry into new asset classes.

TMX: Top 20 Largest Consolidated Short Position Report - March 15, 2013

Date 20/03/2013

Please find below the Top 20 Largest Consolidated Short Position Report Highlights. The report is produced twice monthly, effective the 15th and the end of each month. The report below covers the 2-week period ending March 15th, 2013.
European Parliament: Time For A Wholesale Restructuring Of Banking

Date 20/03/2013

Banking needs a culture change, which piecemeal legislation will not achieve on its own, says a draft report presented in the Economic and Monetary Affairs Committee on Wednesday. It advocates further, more radical reforms, including separating retail from investment banking, stimulating competition, improving corporate governance and crisis management, reducing complexity and curbing risk-inducing pay deals. The Commission is asked to table legislation to this end.
Announcement By The Republic Of Cyprus Ministry Of Finance Bank Holiday Declaration

Date 20/03/2013

Subsequently to the rejection of the Bill for the imposition of a fee on deposits, by the House of Representatives, it is deemed necessary, on grounds of public interest in order to ensure financial stability, to declare the 21st and 22nd of March 2013 as a bank holiday. During the bank holiday, no banking transactions will be carried out.
European Commission Statement On Cyprus

Date 20/03/2013

Since the autumn of 2011, the possibility of assistance to Cyprus under a programme has been under discussion by the Cypriot authorities with the Commission. In July 2012, Cyprus formally asked for assistance under a programme. The need for assistance comes essentially from problems in the Cypriot banking sector which was unsustainably large for the size of the Cypriot economy. However, it was not possible to conclude negotiations on a programme with the previous Cypriot government.
US Federal Trade Commission (FTC) Stops Foreign Operation That Scammed Many Small Businesses And Nonprofits Into Paying Millions of Dollars For Bogus Online Directory

Date 20/03/2013

At the Federal Trade Commissions request, a federal judge has temporarily halted a Slovakia-based operation that allegedly tricked small businesses and non-profits into collectively paying millions of dollars to be listed in an online directory in which they had no interest in being listed and for which they did not understand they would be charged. The FTC is seeking to permanently halt the alleged scam and require the defendants to refund the fees.