Mondo Visione Worldwide Financial Markets Intelligence

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  • Statement Regarding The Commission’s Disapproval Of A Proposed Rule Change To List And Trade Shares Of The VanEck Bitcoin Trust, SEC Commissioner Hester M. Peirce, SEC Commissioner Mark T. Uyeda, March 10, 2023

    Date 10/03/2023

    Nearly six years have passed since the Commission issued, via authority delegated to the Division of Trading and Markets, its first order disapproving an application by an exchange to list and trade an exchange-traded product (“ETP”) designed to track the price of spot bitcoin. Notwithstanding significant evolution of the bitcoin market, the Commission has continued to disapprove every such filing that has come before it. In our view, the Commission is using a different set of goalposts from those it used—and still uses—for other types of commodity-based ETPs to keep these spot bitcoin ETPs off the exchanges we regulate. Today, the Commission has issued the latest in this disappointing string of disapproval orders. This order’s analysis essentially repeats the analysis that the Commission has given in each of these recent orders. However, it is worth reflecting on the Commission’s approach to these products, how that approach differs from the approach the Commission has taken—and indeed continues to take—toward other commodity-based ETPs, and what this bodes for the future of innovation, and by extension, for investor protection and capital formation, in our markets.

  • MOEX Shareholders To Consider Dividends At AGM On 27 April

    Date 10/03/2023

    On 10 March 2023, the Moscow Exchange Supervisory Board recommended that the Annual General Meeting of Shareholders (AGM) approve a dividend for 2022 of RUB 4.84 per share. The total recommended dividend amounts to RUB 11.02 bln.

  • FDIC Creates A Deposit Insurance National Bank Of Santa Clara To Protect Insured Depositors Of Silicon Valley Bank, Santa Clara, California

    Date 10/03/2023

    Silicon Valley Bank, Santa Clara, California, was closed today by the California Department of Financial Protection and Innovation, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect insured depositors, the FDIC created the Deposit Insurance National Bank of Santa Clara (DINB). At the time of closing, the FDIC as receiver immediately transferred to the DINB all insured deposits of Silicon Valley Bank.

  • Nigerian Exchange Weekly Market Report For Week Ended March 10th, 2023

    Date 10/03/2023

    A total turnover of 1.023 billion shares worth N20.221 billion in 18,650 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 1.910 billion shares valued at N18.436 billion that exchanged hands last week in 20,311 deals.

  • FINMA Sees No Sufficient Grounds For Proceedings Following Investigations Into Statements On Outflows Of Client Funds At Credit Suisse

    Date 10/03/2023

    The Swiss Financial Market Supervisory Authority FINMA has investigated possible violations of financial market law in connection with public statements made by the Chairman of the Board of Directors of Credit Suisse regarding outflows of client funds. It does not see sufficient grounds to open supervisory proceedings in this case.