News Centre

Dubai And TheCityUK Signs Partnership Agreement To Boost Collaboration Between Financial Centres

Date 23/02/2012

Companies in Dubai are set to benefit from a new partnership between the Dubai International Financial Centre (DIFC), the financial and business hub connecting the region’s emerging markets with the developed markets of Europe, Asia and the Americas, and TheCityUK, the independent body responsible for promoting financial and professional services in the UK and overseas.

Hong Kong's Securities And Futures Commission Wins Appeal Against Tiger Asia

Date 23/02/2012

The Court of Appeal today overturned the decision of the Court of First Instance to strike out the proceedings of the Securities and Futures Commission (SFC) against New York-based asset management company, Tiger Asia Management LLC (Tiger Asia) and three of its officers, Mr Bill Sung Kook Hwang, Mr Raymond Park and Mr William Tomita (collectively the Tiger Asia parties).

DTCC Releases Report On January Annuity Product Activity

Date 22/02/2012

The Depository Trust & Clearing Corporation (DTCC) Insurance & Retirement Services (I&RS) released today January information on activity in the market for annuity products from its award-winning Analytic Reporting for Annuities online information service, which leverages data from the transactions that DTCC processes for the industry. Analytic Reporting for Annuities is a service offering of National Securities Clearing Corporation, a DTCC subsidiary.

Administration Releases U.S.A President’s Framework For Business Tax Reform To Enhance America’s Competitiveness - Framework Would Simplify The Tax Code, Eliminate Dozens Of Tax Loopholes And Subsidies, And Incentivize Job Creation, Investment At Home

Date 22/02/2012

The U.S. Department of the Treasury today released the President’s framework for reforming the U.S. business tax system, which would enhance American competitiveness by simplifying the tax code and eliminating dozens of tax loopholes and subsidies, incentivizing job creation and investment here at home and lowering the business rate while broadening the tax base.

Standard & Poor's Announces Changes In The S&P/TSX Canadian Indices

Date 22/02/2012

Standard & Poor's will make the following changes in the S&P/TSX Canadian Indices:

The Toronto Stock Exchange announced today in the Daily Bulletin that the shares of Rio Alto Mining Limited (TSXVN: RIO) will graduate to trade on TSX at the open of trading on Friday, February 24, 2012. The ticker symbol will remain "RIO" and the CUSIP number will remain 76689T 10 4. The company will be removed from the S&P/TSX Venture Composite Index after the close of trading on Thursday, February 23, 2011.

Remarks By U.S. Treasury Secretary Tim Geithner

Date 22/02/2012

Today, the President proposes comprehensive business tax reform to create better long-term incentives for investing in America.

Fitch Downgrades Greece To 'C' From 'CCC'

Date 22/02/2012

Fitch Ratings has downgraded Greece's Long-term foreign and local currency Issuer Default Ratings (IDRs) to 'C' from 'CCC'. The Short-term foreign currency rating is affirmed at 'C'. The agency has also affirmed the euro area Country Ceiling at 'AAA', which is applicable to all euro area member states.

SIFMA Statement On The President's Business Tax Reform Proposals

Date 22/02/2012

SIFMA today released the following statement from Kenneth E. Bentsen, Jr., executive vice president, public policy and advocacy, in response to President Obama's introduction of proposals to reform America's business tax system.  

CFTC Orders New York Firm D.E. Shaw & Co. L.P. To Pay $140,000 Penalty For Violating Soybean And Corn Futures Speculative Position Limits

Date 22/02/2012

The U.S. Commodity Futures Trading Commission (CFTC) today announced the filing and simultaneous settlement of charges against commodity pool operator D.E. Shaw & Co. L.P., of New York. N.Y., for exceeding speculative position limits in soybean and corn futures contracts in trading on the Chicago Mercantile Exchange. The order requires D.E. Shaw to pay a $140,000 civil monetary penalty and cease and desist from further violations of section 4a(b) of the Commodity Exchange Act and CFTC regulation 150.2.

SEC Charges China-Based Executives With Securities Fraud

Date 22/02/2012

The Securities and Exchange Commission today charged two China-based executives with defrauding investors into believing they were investing in a Chinese coal business when in fact they were investing in an empty shell company.