News Centre

Joint Venture illimity-Fabrick (Sella Group) In The Fintech HYPE With 3 Million Customers Target

Date 22/09/2020

The Boards of Directors of illimity Bank S.p.A. (“illimity”), Banca Sella Holding S.p.A. (“Banca Sella Holding”), Fabrick S.p.A. (“Fabrick”) and Hype S.p.A. (“HYPE”), held yesterday, approved the agreement for the entrance of illimity in HYPE, thus giving rise to a Joint Venture equally owned by illimity and Fabrick (until now holding 100% of HYPE shares and, in turn, controlled by Banca Sella Holding S.p.A).

UK Financial Conduct Authority Sets Out Proposals To Tackle Concerns About General Insurance Pricing

Date 22/09/2020

The FCA has today published the final report of its market study into the pricing of home and motor insurance. The FCA is concerned these markets are not working well for consumers and is setting out proposed remedies to address this.

The Derivatives Service Bureau Wins “Best Reference Data Initiative” At The WatersTechnology Inside Market Data And Inside Reference Data Awards 2020

Date 22/09/2020

The Derivatives Service Bureau (DSB), founded by the Association of National Numbering Agencies (ANNA) to facilitate the allocation and maintenance of International Securities Identification Numbers (ISINs), Classification of Financial Instrument codes (CFIs) and Financial Instrument Short Names (FISNs), for OTC derivatives, is delighted to announce that it has been awarded “Best Reference Data Initiative” as part of WatersTechnology’s Inside Market Data and Inside Reference Data Awards 2020.

Shanghai Futures Exchange: Notice On Cancellation Of Membership Of Guangzhou Twinace Petroleum & Chemical Co., Ltd.

Date 22/09/2020

Shanghai Futures Exchange (the Exchange) recently received the application from Guangzhou Twinace Petroleum & Chemical Co., Ltd. for cancellation of membership. According to the Memership Management Rules of Shanghai Futures Exchange, the application is approved by the Exchange.

ASIC And IOSCO Report On Conflicts Of Interest Within Debt Capital Raising Process

Date 22/09/2020

ASIC has today issued Report 668 Allocations in debt capital market transactions (REP 668).

Bursa Malaysia Securities Publicly Reprimands And/Or Fines Asdion Berhad And 5 Directors

Date 22/09/2020

Bursa Malaysia Securities Berhad [Registration No.: 200301033577 (635998-W)] (Bursa Malaysia Securities) has publicly reprimanded Asdion Berhad (ASDION) and 5 of its directors for breaches of the Bursa Malaysia Securities ACE Market Listing Requirements (ACE LR). In addition, 5 directors of ASDION were imposed total fines of RM145,000.

Shanghai International Energy Exchange Has Released Its Notice On The Approval Of Dalian Petrochina International Warehousing & Transportation Co., Ltd. To Increase Active Storage Capacity For Crude Oil Futures

Date 22/09/2020

Shanghai International Energy Exchange has released its Notice on the Approval of Dalian PetroChina International Warehousing & Transportation Co., Ltd. to Increase Active Storage Capacity for Crude Oil Futures as follows:

This is to acknowledge our receipt of the application of Dalian PetroChina International Warehousing & Transportation Co., Ltd. to increase the active storage capacity for crude oil futures. In accordance with the Delivery Rules of the Shanghai International Energy Exchange and other applicable rules, we hereby issue the following response based on inspection and review results:

We approve the approved storage capacity of Dalian PetroChina International Warehousing & Transportation Co., Ltd. International Oil Storage located on No.31 New Port Nei Hai Nian Road, Dalian Bonded Area, Liaoning Province, to be increased from 1,200,000m3 to 1,800,000 m3, and the active an storage capacity to be increased from 1,200,000m3 to 1,800,000 m3."

ASIC Tells Fund Managers To Be ‘True To Label’

Date 22/09/2020

A recent ASIC surveillance has found that fund managers must do more to ensure their products are ‘true to label’ – that the product name aligns with the underlying assets.  

New Zealand Financial Markets Authority Prevents CLSA Premium NZ Limited (Formerly KVB Kunlun) From Offering Derivatives To Retail Investors

Date 22/09/2020

The Financial Markets Authority (FMA) has imposed conditions on the derivatives issuer licence of CLSA Premium New Zealand Limited (CLSAP NZ) that prevent the firm from making an offer to, or receiving further funds from, retail investors in relation to derivatives, except in certain limited circumstances.

ASIC Enforcement Update January To June 2020

Date 22/09/2020

ASIC has today released its enforcement update report for the period 1 January to 30 June 2020.