News Centre

UK's Financial Services Authority Agrees Settlement With Four Banks Over Interest Rate Hedging Products

Date 29/06/2012

The FSA has today announced that it has found serious failings in the sale of interest rate hedging products to some small and medium sized businesses (SMEs).  We believe that this has resulted in a severe impact on a large number of these businesses.  In order to provide as swift a solution to this problem as possible we have today confirmed that we have reached agreement with Barclays, HSBC, Lloyds and RBS to provide appropriate redress where mis-selling has occurred.

Final Settlement Value Of Nikkei-Tokyo Commodity Exchange Commodity Index For June 2012 Contract

Date 29/06/2012

SIX Exchange Regulation: New Value Ltd Sanctioned For Errors In Financial Statements

Date 29/06/2012

SIX Exchange Regulation imposes a fine of CHF 25,000 on New Value Ltd in connection with several errors in the company's annual financial statements for 2010/2011 and its interim financial statements for 2011 prepared in accordance with IFRS. The errors include the failure to record an impairment on a financial asset, the overstatement of cash and cash equivalents, the over statement of own shares, and the omission of various disclosures from the financial statements.

Euro Area Summit Statement

Date 29/06/2012

We affirm that it is imperative to break the vicious circle between banks and sovereigns. The Commission will present Proposals on the basis of Article 127(6) for a single supervisory mechanism shortly. We ask the Council to consider these Proposals as a matter of urgency by the end of 2012. When an effective single supervisory mechanism is established, involving the ECB, for banks in the euro area the ESM could, following a regular decision, have the possibility to recapitalize banks directly. This would rely on appropriate conditionality, including compliance with state aid rules, which should be institutionspecific, sector-specific or economy-wide and would be formalised in a Memorandum of Understanding. The Eurogroup will examine the situation of the Irish financial sector with the view of further improving the sustainability of the well-performing adjustment programme. Similar cases will be treated equally.

ASIC Updates Policy Guidance On Approach To Cross-Border Financial Regulation

Date 29/06/2012

ASIC has today released updated policy guidance about its approach to facilitating cross-border financial regulation to assist foreign providers of financial facilities, services and products that wish to operate in Australia.

Notice Of Issuing "Scheme Of Perfecting Delisting System Of Shanghai Stock Exchange-Listed Companies"

Date 29/06/2012

All market participants,

On April 29, 2012, the Shanghai Stock Exchange (SSE) issued the "Scheme of Perfecting Delisting System of SSE-listed Companies (Draft Version)" to solicit opinions from the public. After May 20, the deadline for soliciting opinions, the SSE absorbed reasonable opinions from the public, and amended and perfected the scheme before formulating the "Scheme of Perfecting Delisting System of SSE-listed Companies" (the "Scheme"). It hereby publishes the "Scheme".

New Zealand's Financial Markets Authority Report On NZX General Obligations Review

Date 29/06/2012

The Financial Markets Authority has today released its first assessment of compliance by NZX with its obligations under the Securities Markets Act 1988 and the Authorised Futures Exchange (NZX Limited) Notice 2010.

NZX: Strong Partnership Will Deliver results For Markets

Date 29/06/2012

NZX is pleased that the inaugural Oversight Review by the Financial Markets Authority (FMA) has found that NZX is meeting its obligations to run fair, orderly and transparent markets in New Zealand.

José Manuel Durão Barroso President Of The European Commission Statement By President Barroso At The Intermediary Press Conference At The European Council Press cCnference/Brussels 28 June 2012

Date 28/06/2012

Good evening,

This was a very significant first session of the European Council, and since the President of the European Council and the Prime Minister of Denmark as the current presidency of the Council already gave a summary of our work I will not repeat.

BATS Announces Annual Changes To BATS 1000 Index - U.S. Equities Market Benchmark Celebrates Three-Year Anniversary

Date 28/06/2012

BATS Global Markets, a leading operator of securities markets in the U.S. and Europe, today announced the results of the annual reconstitution of the BATS 1000®Index, a U.S. equities market benchmark, which will become effective prior to market open on Monday, July 2, 2012.