News Centre

Shanghai Stock Exchange: Notice On Reduction Of Securities Transaction Stamp Duty By Half

Date 27/08/2023

In order to invigorate the capital market and boost investor confidence, the Ministry of Finance and the State Taxation Administration announced that starting from August 28, 2023, the stamp duty for securities transactions will be reduced by half.

Shanghai Stock Exchange Moderately Reduces Margin Ratio To Promote Effective Functioning Of Securities Margin Trading Business

Date 27/08/2023

On August 27, 2023, the Shanghai Stock Exchange (SSE), with approval from the China Securities Regulatory Commission, revised Article 39 of the Implementation Rules of Shanghai Stock Exchange on Securities Margin Trading (Revised in 2023), reducing the financing margin ratio from 100% to 80%. This adjustment will be officially implemented after the market close on September 8, 2023.

The Economic Costs Of Restricting Trade: The Experience Of The UK - Speech By Ben Broadbent, Bank Of England, Deputy Governor, Monetary Policy - Given At The Federal Reserve Bank Of Kansas City 46th Economic Symposium, Jackson Hole, Wyoming

Date 26/08/2023

Ben Broadbent discusses the economic costs of restricting trade. The pandemic and the war in Ukraine provide a stark illustration of the impact of a sudden contraction in the supply of imported goods for an open economy like the UK. He argues that in 2021 and 2022 these shocks reduced real national income significantly and contributed to the rise in domestic inflation. He explains that although import costs have been declining in recent months, it is likely that monetary policy will have to remain in restrictive territory for some time.

Intercontinental Exchange And Black Knight Announce Entry Into Agreement Containing Consent Orders With FTC’s Bureau Of Competition

Date 26/08/2023

• ICE’s acquisition of Black Knight is expected to close on September 5, 2023.
• The deadline for Black Knight stockholders to elect their preferred form of merger consideration is September 1, 2023.

The Importance Of A Comprehensive Risk Assessment By Auditors And Management, Paul Munter, SEC Chief Accountant, Aug. 25, 2023

Date 25/08/2023

Introduction

Management’s and auditors’ risk assessment processes are critical to the decisions regarding financial reporting and the effectiveness of internal control over financial reporting (ICFR). Accordingly, we are troubled by instances in which management and auditors appear too narrowly focused on information and risks that directly impact financial reporting, while disregarding broader, entity-level issues that may also impact financial reporting and internal controls. Such a narrow focus is detrimental to investors as it can result in material risks to the business going unaddressed and undisclosed, thereby diminishing the quality of financial information.

Closing Remarks Of CFTC Commissioner Christy Goldsmith Romero At The Global Research Alliance For Sustainable Finance And Investment Annual Conference - A Roadmap For Action On Climate Resilience, Yale University

Date 25/08/2023

Thank you to the Global Research Alliance for Sustainable Finance and Investment for inviting me to close out this highly informative conference.  The timing is certainly appropriate, at the end of the warmest summer on record—a summer that experienced extreme heat events such as smoke days that made it unsafe to go outside, a month-long stretch of 110+ days in Phoenix, and the heartbreaking deadly Maui wildfires.  It’s inspiring to be here in a group of people who are looking for sustainable finance and investment solutions to the emerging risks from climate change, particularly one year after the passage of the landmark Inflation Reduction Act.

CFTC Commitments Of Traders Reports Update

Date 25/08/2023

The current reports for the week of August 22, 2023 are now available. Report data is also available in the CFTC Public Reporting Environment (PRE), which allows users to search, filter, customize and download report data.

SEC Announces First Fee Rate Advisory For Fiscal Year 2024

Date 25/08/2023

The Securities and Exchange Commission today announced that the fees that public companies and other issuers pay to register their securities with the Commission will increase from $110.20 per million dollars to $147.60 per million dollars, effective Oct. 1. The new fee rate will be applicable to the registration of securities under Section 6(b) of the Securities Act of 1933, the repurchase of securities under Section 13(e) of the Securities Exchange Act of 1934, and proxy solicitations and statements in corporate control transactions under Section 14(g) of the Securities Exchange Act of 1934.

Nigerian Exchange Market Report For August 25th, 2023

Date 25/08/2023

A total turnover of 1.812 billion shares worth N29.299 billion in 31,163 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 1.689 billion shares valued at N29.407 billion that exchanged hands last week in 29,477 deals.

SEC Awards Whistleblower More Than $18 Million

Date 25/08/2023

The Securities and Exchange Commission today announced an award of more than $18 million to a whistleblower whose information and assistance led to a successful SEC enforcement action.