News Centre

UK Financial Conduct Authority, UK Pensions Regulator And UK Money And Pensions Service Joint Statement On Rolls-Royce Defined-Benefit Pensions Scheme

Date 28/10/2020

The FCA, the Pensions Regulator (TPR) and the Money and Pensions Service (MaPS) have been engaging with Rolls-Royce and the scheme’s Trustees in order to be vigilant against the risks associated with increased transfer requests as a consequence of redundancies.

European Accounting Enforcers To Enhance Transparency On Covid-19 Impact

Date 28/10/2020

The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has issued its annual Public Statement on European Common Enforcement Priorities (Statement), which sets out the priorities that EEA corporate reporting enforcers will consider when examining listed companies’ 2020 annual financial reports.

Statement On The Final Rule On Fund’s Use Of Derivatives, SEC Commissioner Allison Herren Lee, Oct. 28, 2020

Date 28/10/2020

Today, the Commission adopts a long-awaited framework governing funds’ use of derivatives. The use of derivatives often involves leverage because it enables a fund to magnify its gains or losses relative to the fund’s investment while also exposing the fund to the potential for future payment obligations in certain circumstances. Despite the substantial increase in funds’ use of derivatives over the past several decades, the regulatory framework has been piecemeal at best, composed primarily of a patchwork of sometimes inconsistent guidance and no-action letters. As I said at the time of proposal, a comprehensive rulemaking is needed to establish a systematic approach that more meaningfully limits fund risk-taking, and I appreciate the efforts of the Staff in the Division of Investment Management and the Division of Economic and Risk Analysis.

BME: The Stock Market, Key To The REITs Sector In The Economic Recovery

Date 28/10/2020

• Last year these vehicles posted increases in terms of revenue from rents, net profit and operating margin
• In 2019 they increased their shareholder remuneration, with 1.3 billion euros in dividends, 60% more
• Between December and June their market cap was down 17% due to the Covid-19 crisis

BME Welcomes Soltec

Date 28/10/2020

• · The traditional Bell Ringing has been broadcast via streaming
• · The company has raised 150 million euros

SEC Adopts Modernized Regulatory Framework For Derivatives Use By Registered Funds And Business Development Companies

Date 28/10/2020

The Securities and Exchange Commission today voted to enhance the regulatory framework for derivatives use by registered investment companies, including mutual funds (other than money market funds), exchange-traded funds (ETFs) and closed-end funds, as well as business development companies. The new rule and rule amendments will provide a modernized, comprehensive approach to the regulation of these funds’ derivatives use that addresses investor protection concerns and reflects developments over the past decades. The Commission is committed to designing regulatory programs that reflect the ever-broadening product innovation and investor choice available in today’s asset management industry, while also taking into account the risks associated with funds’ increasingly complex portfolio composition and operations.

ESMA Publishes Translations For Decision Of Renewal To Lower The Reporting Thresholds Of Net Short Positions

Date 28/10/2020

Modernizing The Regulatory Framework For Funds’ Use Of Derivatives, SEC Chairman Jay Clayton, Oct. 28, 2020

Date 28/10/2020

Good morning. This is an open meeting of the U.S. Securities and Exchange Commission, under the Government in the Sunshine Act.

Today, we are considering a new rule to provide an updated and comprehensive regulatory framework for the use of derivatives by registered investment funds, including mutual funds and exchange traded funds (ETFs). I have spoken before on the importance of modernization—ensuring that the implementation of our time-tested, long term investor-oriented regulatory structure keeps pace with today’s marketplace—to the Commission’s mission and our markets more generally.[1]  I have no doubt that this commitment to modernization, which flows through the 4,500-strong SEC staff, greatly enhanced our ability and the ability of market participants more generally to both absorb and respond to the market and operational stresses caused by the COVID-19 pandemic.

CUSIP Global Services Links Environmental, Social And Governance (ESG) Data With Municipal Bond Identifiers In Two New Mapping Files - Partnership Pairs CUSIP Identifier With ACRe Data's Municipal ESG Scores To Provide Quick Reference Snapshot Of Values-Based Data For Investors

Date 28/10/2020

CUSIP Global Services (CGS) today announced a partnership with ACRe Data Inc. (ACRe) to provide two new mapping files that link municipal CUSIP identifiers with ACRe's environmental, social and governance (ESG) scores and other geographic and socioeconomic data relevant to each municipal bond issuer. By pairing the CUSIP ID with ACRe's localized ESG scoring data, the new data files will give institutional and retail investors a clearer perspective on ESG risk assessments of their municipal bond portfolios.

First Six Artificial Intelligence And Blockchain Technology Funds Backed By InnovFin Raise A Total Of EUR 700m

Date 28/10/2020

• The European Investment Fund (EIF) and the European Commission are announcing the first 6 Venture Capital funds under the InnovFin Artificial Intelligence and Blockchain pilot
• New agreements with tech equity funds in Austria, Finland, Germany, Luxembourg and the Netherlands are expected to bring EUR 700m to tech companies across Europe