News Centre

Shenzhen Stock Exchange Market Bulletin, November 09, 2020, Issue 32

Date 10/11/2020

As of October 30, 2020, 870 companies out of the 871 listed companies on the ChiNext Market have disclosed their Q3 financial report. The overall performance of ChiNext companies in the first three quarters continued the strong growth trend in the last two quarter. The 870 companies achieved an average operating income of 1.518 billion yuan in the first three quarters, a year-on-year increase of 5.62%; net profit attributable to shareholders of the parent company was 153 million yuan, a year-on-year increase of 21.48%. It is worth mentioning that the performance of newly listed companies under the registration system is significantly better than the average. In addition, thanks to the optimization of refinancing rules and the improvement of review efficiency, refinancing has increased significantly so far this year.

Monetary Authority Of Singapore Consults On Requirements To Strengthen Financial Institutions’ Identity Verification Process

Date 10/11/2020

The Monetary Authority of Singapore (MAS) today issued a consultation paper on the types of information required for non-face-to-face verification of an individual’s identity. These proposed requirements come against the backdrop of rising impersonation scam cases, and seek to address the risks arising from theft and misuse of an individual’s personal particulars. 

ZebPay To Launch India’s First Non-Fungible Crypto Token And Marketplace

Date 10/11/2020

ZebPay, India’s oldest and most widely-used Bitcoin and crypto asset exchange, at its quarterly board meeting announced its plan to launch a non-fungible token (NFT), becoming the first Indian company to do so. ZebPay’s NFT has been named ‘Dazzle’ (the name for a herd of zebras).

Office Of The Comptroller Of The Currency Reports Key Risks, Effects Of COVID-19 In Federal Banking System

Date 09/11/2020

The Office of the Comptroller of the Currency (OCC) today reported the key issues facing the federal banking system and the effects of the COVID-19 pandemic on the federal banking industry in its Semiannual Risk Perspective for Fall 2020.

SEC: Staff Statement On WY Division Of Banking’s “NAL On Custody Of Digital Assets And Qualified Custodian Status” - Division Of Investment Management Staff In Consultation With FinHub Staff

Date 09/11/2020

The Staff of the Division of Investment Management (the “Staff”), in consultation with the FinHub Staff, issue this statement following the publication of a recent letter by the Wyoming Division of Banking that included the Wyoming Division of Banking’s views relating to the definition of “bank” and “qualified custodian” under the Investment Advisers Act of 1940 (the “Advisers Act”) and rule 206(4)-2 thereunder (the “Custody Rule”).

Supervision And Regulation Report, Federal Reserve Vice Chair For Supervision Randal K. Quarles, Before The Committee On Banking, Housing, And Urban Affairs, U.S. Senate, Washington, D.C.

Date 09/11/2020

Chairman Crapo, Ranking Member Brown, members of the committee, thank you for the opportunity to testify today on the Federal Reserve's supervisory activities in the context of the ongoing pandemic.

ISDA Response To ESMA Consultation On Fees For Benchmark Administrators Under BMR

Date 09/11/2020

On November 6, ISDA submitted a response to the European Securities and Markets Authority’s (ESMA) consultation on fees for benchmark administrators of critical and third-country benchmarks under the Benchmarks Regulation (BMR). Following the implementation of a review by the European Supervisory Authorities, ESMA will have direct supervisory responsibilities on these benchmarks and their administrators. Throughout its response, ISDA notes that the application cost and minimum annual fee could act as a barrier to entry for firms that do not derive a large portion of their income from EU activity and therefore may conclude that registering does not make financial sense. This could potentially reduce the benchmarks that can be used in the EU and limit the options available to consumers. In terms of next steps, ESMA is expected to submit its final technical advice to the European Commission (EC) by January 31, 2020. Following this, the EC will have until October 1, 2021 to adopt delegated acts to specify to ESMA its new supervisory powers, types of fees and amount of the fees.

US Financial Stability Report

Date 09/11/2020

Current Report: November 9, 2020

PDF

This report summarizes the Federal Reserve Board’s framework for assessing the resilience of the U.S. financial system and presents the Board’s current assessment. By publishing this report, the Board intends to promote public understanding and increase transparency and accountability for the Federal Reserve’s views on this topic.

Understanding The New IBOR Fallbacks – Virtual Event, November 9, 2020: Opening Remarks, Katherine Tew Darras, General Counsel, ISDA

Date 09/11/2020

Hello everyone, and welcome to Understanding the New IBOR Fallbacks. Thanks for joining us today for this virtual event, and thank you to our speakers.

On October 23, ISDA launched the IBOR Fallbacks Supplement and IBOR Fallbacks Protocol – the culmination of four years’ work and a major milestone in the transition from LIBOR.

SEC Publishes Notice Of German Substituted Compliance Application And Proposed Order

Date 09/11/2020

The Securities and Exchange Commission today voted to publish a notice of a substituted compliance application by Germany’s Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) as well as a proposed order that would conditionally provide substituted compliance for German firms that are registered with the Commission as security-based swap dealers and security-based swap participants.  These are the latest of a series of actions that the Commission has taken to stand up Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act, including cross-border regulation.