News Centre

SIFMA AMG Comments on FSOC Nonbank SIFI Designation Proposal

Date 27/07/2023

SIFMA’s Asset Management Group (SIFMA AMG) today submitted comments regarding changes to guidance on nonbank financial company designations as proposed by the Financial Stability Oversight Council (FSOC) expressing strong concern with the move away from the current activities-based approach.

SIFMA Statement On Proposed Rule To Implement The Basel III ‘Endgame’ In The U.S.

Date 27/07/2023

SIFMA issued the following statement from president and CEO Kenneth E. Bentsen, Jr. today regarding a notice of proposed rulemaking (NPR) from the Federal Reserve, Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) on U.S. implementation of regulatory changes related to the Basel III ‘Endgame:’

The Potential Pitfalls Of Purported Crypto “Assurance” Work, Paul Munter, SEC Chief Accountant, July 27, 2023

Date 27/07/2023

Following the recent waves of scandal and insolvency in the crypto industry, there has been a renewed focus on the firms, including accounting firms, that have been retained by companies in the crypto-asset space—in particular, crypto asset trading platforms. Certain crypto asset trading platforms, with others in the crypto industry, have marketed to investors their retention of third parties, sometimes accounting firms, to perform some sort of review of certain parts of their business, often presented as a purported “audit.” As accounting firms increasingly engage in this sort of non-audit work, their clients’ marketing and terminology risks misleadingly suggesting that these alternative, non-audit arrangements are at parity with, or even more “precise” than, a financial statement audit. Such suggestions are false. Non-audit arrangements are neither as rigorous nor as comprehensive as a financial statement audit, and may not provide any reasonable assurance to investors.

FINRA Correspondence With Next Bridge Hydrocarbons, April-June 2023

Date 27/07/2023

In the interest of transparency and clarity, FINRA is posting the correspondence between FINRA and Next Bridge Hydrocarbons referenced in their July 26, 2023, press release.

ESG Compliance Critical To Attracting Investments In Capital Market – Divisional Head, Capital Markets, Nigerian Exchange, Jude Chiemeka

Date 27/07/2023

The Divisional Head, Capital Markets at Nigerian Exchange Limited (NGX), Jude Chiemeka, has highlighted the importance of Environmental, Social, and Governance (ESG) compliance and the democratization of data in attracting investments and enhancing stock liquidity in the Nigerian capital market.

Ontario Securities Commission Publishes Summary Report For Dealers, Advisers And Investment Fund Managers

Date 27/07/2023

The Ontario Securities Commission (OSC) today published its 2023 summary report for dealers, advisers and investment fund managers, which provides information to help registrants comply with requirements under Ontario securities law.

SEC Charges Florida Resident With Operating $35 Million Ponzi Scheme That Targeted Church Members

Date 27/07/2023

The Securities and Exchange Commission today charged Brent Seaman of Naples, Florida, and various entities he managed for fraudulently raising approximately $35 million from at least 60 investors through an unregistered securities offering. Many of these investors were elderly, retired, and connected to a Naples church where Seaman was an active member.

DFM Reports 77% Upsurge In Net Profit During The First Half Of 2023 To AED 112.2 Million

Date 27/07/2023

• DFM attracted 25,699 new investors in the first half of 2023, 74% of which were foreign investors.
• The trading value for the first half of 2023 reached AED 46 billion.
• The DFM General Index went up 14% in the first half of the year and market capitalization increased by 12% to AED 652 billion.
• Institutional investors accounted for 57% of trading value in the first half of the year.

Euronext Announces Launch Of A Share Repurchase Programme Of €200 Million

Date 27/07/2023

Euronext, the leading pan-European market infrastructure, today announced a share repurchase programme (the ‘Programme’) for a maximum amount of €200 million.

Euronext Publishes Q2 2023 Results And Announces A Share Repurchase Programme - Solid Quarter Driven By Organic Growth In Non-Volume-Related Business And Robust Market Share And Yield Performance In Cash Trading

Date 27/07/2023

Euronext, the leading pan-European market infrastructure, today publishes its results for the second quarter of 2023.