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Statement On Universal Proxy Ballots, SEC Commissioner Allison Herren Lee, Nov. 17, 2021

Date 17/11/2021

Electing corporate directors is perhaps the most critical function of shareholders in our system of corporate democracy. Corporations are owned by shareholders, but managed and overseen by boards of directors. Thus, it is the shareholders – the owners – that decide whom to entrust to oversee their capital. This is the integral construct of American corporations. The amendments the Commission is voting on today will help ensure that shareholders voting by proxy can freely choose between and among all qualified candidates for the board – and are not limited to choosing the entire slate put forth by one side or the other.
EBA Sees Limited Impact Of The NSFR On The Functioning Of The Precious Metals’ Markets

Date 17/11/2021

The European Banking Authority (EBA) published today a Report on the possible impact of the net stable funding ratio (NSFR) on the functioning of the precious metals’ markets. The Report aims at assessing whether it would be justified to reduce the required stable funding factor for assets used for providing clearing and settlement services or for financing transactions of precious metals.
SEC Adopts New Rules For Universal Proxy Cards In Contested Director Elections - New Rules Allow Shareholders To Vote For Their Preferred Mix Of Board Candidates In Contested Elections

Date 17/11/2021

The Securities and Exchange Commission today voted to adopt final rules requiring parties in a contested election to use universal proxy cards that include all director nominees presented for election at a shareholder meeting. The rule changes will give shareholders the ability to vote by proxy for their preferred combination of board candidates, similar to voting in person.
EBA Announces Timing For Publication Of 2021 EU-Wide Transparency Exercise And Risk Assessment Report

Date 17/11/2021

The European Banking Authority (EBA) announced today that its 2021 Risk Assessment Report and transparency exercise with bank by bank data will be released on Friday 3 December at 18:00 CET.
Too Important To Regulate? Rolling Back Investor Protections On Proxy Voting Advice, SEC Commissioner Elad L. Roisman, Nov. 17, 2021

Date 17/11/2021

Over the past several years, much has been said about what the rise in fund ownership throughout our equity markets might mean for our economy. But one outcome of increasing fund growth is clear: as funds come to own an ever larger percentage of U.S. corporate equities, they can influence the outcome of a variety of matters that companies submit to a shareholder vote. As recently as a month ago, the Commission acknowledged this fact and pursued policies designed to ensure that those who manage funds approach voting in a manner that serves the best interest of their clients.

U.S. Department Of The Treasury: Remarks By Under Secretary For Domestic Finance Nellie Liang At The 2021 Treasury Market Conference

Date 17/11/2021

Good morning. It’s a pleasure and honor to be here today. Having participated in a panel at last year’s conference, I appreciate the opportunity to speak again at this conference in a completely different role, and to share some of Treasury’s current priorities related to debt management and potential Treasury market reforms.
Moscow Exchange: Risk Parameters Change For The Security TJX-RM - Update

Date 17/11/2021

As per the Securities market risk parameters methodology, on 17.11.2021, 17-45 (MSK) the upper bound of the price band (up to 5837) and initial margins (up to 22.5 %) for the security TJX-RM were changed.
BIS: Non-Bank Financial Institutions And The Functioning Of Government Bond Markets

Date 17/11/2021

The structure of market making in government bond markets has shifted from a bank-centric model to a hybrid one in which non-bank financial institutions, notably principal trading firms and hedge funds, play an important role alongside banks. This shift has occurred in several countries and, while farthest advanced in liquid segments, is also evident in less liquid segments. The turmoil in March 2020 highlighted structural vulnerabilities arising from the hybrid model and the procyclical behaviour of some non-bank financial institutions. Proposals for improving the resilience of liquidity in government bond markets aim to reduce demand for liquidity during stress episodes, increase intermediation capacity and improve the efficiency of intermediation.
CFTC Issues Request for Information and Comment on Swap Clearing Requirement to Address IBOR Transition

Date 17/11/2021

The Commodity Futures Trading Commission today issued a request for information and comment related to the swap clearing requirement under Part 50 of the CFTC’s regulations.
Moscow Exchange: Risk Parameters Change For The Security ATVI-RM

Date 17/11/2021

As per the Securities market risk parameters methodology, on 17.11.2021, 17-33 (MSK) the lower bound of the price band (up to 4415) and initial margins (up to 24 %) for the security ATVI-RM were changed.