News Centre

Hong Kong Securities And Futures Commission Commences Disciplinary Proceedings Against Ngai Lai Ha For Alleged Breach Of Takeovers Code

Date 16/09/2020

The Securities and Futures Commission’s (SFC) Takeovers Executive  has today commenced disciplinary proceedings before the Takeovers and Mergers Panel (Takeovers Panel) against Ms Ngai Lai Ha (Ngai), the chairperson of International Housewares Retail Company Limited (the Company) over a breach of the Code on Takeovers and Mergers (Takeovers Code).

Tokyo Stock Exchange To launch TSE Timely Disclosure Corpus Service

Date 16/09/2020

With the aim of utilizing machine translation, etc. to meet the growing need for disclosure in English, from September 16, 2020, Tokyo Stock Exchange, Inc. (TSE) will launch its "TSE Timely Disclosure Corpus Data Service".

SGX Wins “Best Exchange For FX” At FX Markets e-FX Awards 2020

Date 16/09/2020

• Award acknowledges SGX’s efforts to enhance capital efficiencies for market participants; bridging OTC and listed FX markets with its acquisition of BidFX as well as first-of-its-kind FlexC FX futures product offering

ASX Is Revising Its Temporary Emergency Capital Raising Measures

Date 16/09/2020

ASX is revising the temporary emergency capital raising measures that help listed entities affected by the COVID- 19 pandemic. The measures were introduced on 31 March 2020 and are due to expire on 30 November 2020.

ISDA Analysis Of The Impact Of Brexit On The MIFID Derivatives Trading Obligation

Date 15/09/2020

ISDA has published a paper recommending that the EU and the UK recognize the equivalence of each other’s derivatives trading venues in order to mitigate the impact of the UK’s withdrawal from the EU. If appropriate equivalence decisions are not in place by the end of the transition period provided for in the Withdrawal Agreement between the EU and the UK (the transition period), there will be significant issues for counterparties subject to the derivatives trading obligation (DTO) and other requirements under derivatives legislation in both the EU and the UK. The lack of such equivalence decisions is also likely to exacerbate the fragmentation of liquidity in over-the-counter (OTC) derivatives markets between the EU and the UK resulting from Brexit.

Statement On SEC Settlement Charging Token Issuer With Violation Of Registration Provisions Of The Securities Act Of 1933, SEC Commissioner Hester M. Peirce, Sept. 15, 2020

Date 15/09/2020

Today’s settlement with Unikrn, Inc., is the latest in a growing line of enforcement actions arising from initial coin offerings. While many SEC enforcement actions in this space include allegations of fraud, Unikrn falls within the narrower category of token issuers charged only with violating Section 5 of the Securities Act. In other words, Unikrn is alleged to have offered and sold its tokens in an unregistered offering and in a manner that did not qualify for an exemption; it is not alleged to have engaged in any fraud in doing so. Registration violations, even standing alone, are serious, and our enforcement actions can serve to deter such violations and protect harmed investors. We should strive to avoid enforcement actions and sanctions, however, that enervate innovation and stifle the economic growth that innovation brings. I believe that this action and its accompanying sanctions will have such consequences.

CFTC Staff Provides No-Action Relief to Registrant from SEF Reinstatement Requirements

Date 15/09/2020

The Commodity Futures Trading Commission’s Division of Market Oversight (DMO) today granted temporary no-action relief to Tassat Derivatives LLC, a CFTC-registered swap execution facility (SEF), from SEF reinstatement requirements under CFTC Regulation 37.3(d), subject to certain conditions.

Moscow Exchange: Risk Parameters For New Bonds

Date 15/09/2020

New bonds will be accepted to margin trading starting from 16.09.2020. From this date on, the following risk parameters will be applied:

IIROC: Best Practices For Electronic Proceedings

Date 15/09/2020

Due to the COVID-19 pandemic, in-person hearings at IIROC have been postponed or converted into electronic hearings, proceeding by either telephone or videoconference. To provide guidance on the conduct of electronic hearings, IIROC has issued the IIROC Hearing Committee Best Practices for  Electronic Proceedings. The Best Practices also outline the minimum technical requirements for electronic proceedings.

British Columbia Securities Commission: Total Market Value Of British Columbia’s Publicly Listed Companies Grows After Initial Impact Of COVID-19

Date 15/09/2020

The total value of British Columbia’s publicly listed companies dropped 26 per cent in the first few weeks of the COVID-19 pandemic, but then climbed above December 2019 levels, according to a new report from the British Columbia Securities Commission (BCSC).