News Centre

SEC Adopts Amendments To Modernize Rule 10b5-1 Insider Trading Plans And Related Disclosures

Date 14/12/2022

The Securities and Exchange Commission today adopted amendments to Rule 10b5-1 under the Securities Exchange Act of 1934 and new disclosure requirements to enhance investor protections against insider trading. The amendments include updates to Rule 10b5-1(c)(1), which provides an affirmative defense to insider trading liability under Section 10(b) and Rule 10b-5. Collectively, the final rules aim to strengthen investor protections concerning insider trading and to help shareholders understand when and how insiders are trading in securities for which they may at times have material nonpublic information.

BIS: Basel Committee Evaluation Shows That The Implemented Basel III Reforms Contributed To Increase Bank Resilience

Date 14/12/2022

• New report provides the Committee's first holistic evaluation of the impact and efficacy of the implemented Basel III reforms.
• Report indicates that the implemented reforms are an important driver of the overall increase in bank resilience and shows that market-based measures of systemic risk have also improved.
• Report finds no considerable evidence of negative side effects of the reforms on banks' lending and capital costs, nor does it identify redundancy among elements of the reforms, while acknowledging greater regulatory complexity.

BIS Announces Outcome Of Architectural Competition To Develop Designs To Enhance Its Basel Headquarters Site

Date 14/12/2022

• The BIS announces the winner of an international architectural competition to propose designs to develop its headquarters site in Basel, Switzerland
• Jury unanimously selected an innovative and sustainable design developed by a collaboration between ELEMENTAL (Santiago, Chile) and Nissen Wentzlaff Architekten (Basel, Switzerland)
• Competition project sought designs to replace ageing buildings adjoining the BIS Tower and provide modern facilities to accommodate enlargement of global meetings and growth in activities and to create a campus-like work environment
• Should the BIS decide to proceed with the design, there will be a separate project planning and approval process

EBA Publishes Its First Thematic Review On The Transparency And Level Of Fees And Charges For Retail Banking Products In The EU, Observing That Significant Detriment Still Arises For Consumers

Date 14/12/2022

​The European Banking Authority (EBA) published today a thematic review on the transparency and level of fees and charges levied by financial institutions (FIs) on the retail banking products in the EU. Overall, the review finds that fees and charges vary greatly in terms of level and type not only across the European Union (EU) market, but also across FIs within the same jurisdiction. Furthermore, the variety of types for fees and charges cause different levels of detriment to consumers, and, with the exception of payment accounts, fees and charges are difficult to compare between providers. 

BIS - The Lion's Share: Evidence From Federal Contracts On The Value Of Political Connections

Date 14/12/2022

Summary

Focus 

Corporations and governments frequently interact. Perhaps most notably, corporations provide goods and services to governments through procurement contracts. What is the value for firms of establishing political connections to facilitate these interactions?

Borsa İstanbul’s Opening Bell Rang For Birikim Varlık

Date 14/12/2022

The Initial Public Offering of Birikim Varlık Yönetim A.Ş. has been completed. Company shares listed on Borsa İstanbul started trading on BIST MAIN with a base price of 14.20 TL, the ticker code “BRKVY” and the continuous trading method.

CME Group's Micro WTI Options Volume Surpasses 100,000 Contracts Traded

Date 14/12/2022

CME Group, the world's leading derivatives marketplace, today announced that Micro WTI options volume surpassed 100,000 contracts on December 13, 2022.

ICE Announces a Unique Wealth Management Platform Integration with BNY Mellon | Pershing

Date 14/12/2022

Intercontinental Exchange, Inc., a leading global provider of data, technology and market infrastructure, and BNY Mellon | Pershing, a leading provider of clearing and custody solutions, announced today that the web-based version of the ICE Connect wealth management platform has been integrated into BNY Mellon | Pershing’s clearing and custody platform NetX360+®. Davenport & Company, one of the oldest, employee-owned financial services firms in the U.S., is the first client to migrate over 250 advisors to the new integrated solution.

EBA Consults On Guidelines On The Overall Recovery Capacity In Recovery Planning

Date 14/12/2022

The European Banking Authority (EBA) today published a consultation paper on its draft Guidelines on the overall recovery capacity (ORC) in recovery planning. The Guidelines aim to set up a consistent framework for the determination of the ORC by institutions in their recovery plans and the respective assessment by competent authorities. The consultation runs until 14 March 2023. 

SEC Charges Eight Social Media Influencers In $100 Million Stock Manipulation Scheme Promoted On Discord And Twitter

Date 14/12/2022

The Securities and Exchange Commission today announced charges against eight individuals in a $100 million securities fraud scheme in which they used the social media platforms Twitter and Discord to manipulate exchange-traded stocks.