FTSE Mondo Visione Exchanges Index:
News Centre
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ASIC: Federal Court Imposes $75 Million Penalty On OTC Derivative Issuer AGM Markets And Former Authorised Representatives OT Markets And Ozifin
Date 19/10/2020
On 16 October 2020, the Federal Court ordered that AGM Markets Pty Ltd (AGM), OT Markets Pty Ltd (OTM) and Ozifin Tech Pty Ltd (Ozifin) pay a total of $75 million in pecuniary penalties.
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Securities Commission Malaysia: Audit Firm And Auditors Fined And Barred From Auditing For A Year
Date 19/10/2020
The Securities Commission Malaysia’s Audit Oversight Board (AOB) today announced that the audit firm, RSL PLT (RSL), and its partners are prohibited from accepting as clients and auditing public interest entities (PIEs) or schedule funds for a period of 12 months commencing from 1 November 2020.
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ASIC - NAB Ordered To Pay $15 Million For Dealing With Unlicensed Home Loan Introducers: Royal Commission Case Study
Date 19/10/2020
The Federal Court of Australia has today ordered National Australia Bank (NAB) pay a civil penalty in the amount of $15 million for contravening section 31(1) of the National Consumer Credit Protection Act 2009 (National Credit Act).
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EGX Launches Its Program For Benha & Suez Canal Universities
Date 19/10/2020
Dr. Mohamed Farid Saleh, Executive Chairman of the Egyptian Exchange (EGX), delivered the opening speech to students from Suez Canal University and Banha University as part of EGX’s virtual Financial Literacy Program conducted to raise financial awareness among university students. This training program is a continuation of EGX’s efforts for financial inclusion implementation through the financial awareness program for university students specifically and the general public.
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Maktoum bin Mohammed Appoints DIFC Authority’s Board Of Directors
Date 19/10/2020
His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai and President of the Dubai International Financial Centre, has issued Directive No. (5) of 2020, appointing DIFC Authority’s Board of Directors for a two-year term.
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Nigerian Stock Exchange Set To Host 5th Market Data Workshop
Date 18/10/2020
The Nigerian Stock Exchange (NSE), in partnership with InfoWARE Limited, is set to host the fifth edition of the NSE Market Data Workshop on Friday, October 23, 2020. This year’s event will be held virtually in compliance with guidance around physical distancing occasioned by the COVID-19 pandemic.
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Market Opening Bell Ringing To Celebrate The Launch Of The New Platform: Dubai Financial Market Debuts Equity Futures Trading, In A Significant Boost To Its Product Offering Diversification Strategy
Date 18/10/2020
- Future contracts on single stocks of five listed companies including: Emaar Properties, Dubai Islamic Bank, Emirates NBD, Emaar Development and Emaar Malls
- H.E. Essa Kazim: “The diversification strategy reinforced DFM’s position as one of the leading regional markets in terms of asset classes’ variation”
- Hassan Al Serkal: “Growth prospects are promising, considering investors’ rising demand for diversified asset classes and brokers’ active participation”
- Hamed Ali: “Robust regulatory framework to ensure that equity futures are well-positioned to resonate growth levels on international markets”
- Maryam Fekri: “Dubai Clear provides the new platform with world-class clearing solutions”
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Nadex Temporary Outage
Date 16/10/2020
Pursuant to Section 5c(c)(1) of the Commodity Exchange Act, as amended (“Act”), and section §40.6(a) of the regulations promulgated by the Commodity Futures Trading Commission (the “Commission”) under the Act (the “Regulations”), North American Derivatives Exchange, Inc. (“Nadex”, the “Exchange”) submitted an emergency action to the Commission on October 16, 2020 providing notice that on trade date Friday, October 16, 2020, the Nadex trading platform was impacted when shortly after the 6:00pm ET open the Exchange experienced a technical issue that caused a temporary trading outage. The issue was corrected and service was restored at approximately 6:35pm ET.
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CFTC Commitments Of Traders Update
Date 16/10/2020
The current reports for the week of October 13, 2020 are now available.
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Who Watches the Watchers?* Joint Statement On Auditor Independence Amendments, SEC Commissioner Allison Herren Lee, SEC Commissioner Caroline A. Crenshaw, Oct. 16, 2020
Date 16/10/2020
Auditors play a crucial role in promoting public trust in our markets by providing assurances about the reliability of financial disclosures. This role has been described as a “public watchdog” function that “demands that the accountant maintain total independence from the client at all times and requires complete fidelity to the public trust.” Those clients, however, hire and pay their own watchdogs, prompting the late, distinguished securities law professor Lynn Stout to observe “[w]hen the people being watched get to choose their watchdog, they’re not going to choose the toughest animal around.” The import of this observation is not to impugn motives, but to point out that there is an obvious and inherent conflict of interest in the so-called “issuer pays” model used in public auditing. This conflict would be significant even if auditing fees were its only source. But in recent years, audit fees at the Big Four accounting firms have been dwarfed by even more lucrative consulting, tax, and other non-audit services offered by large accounting firms, which now account for close to two-thirds of overall revenues.
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