News Centre

CFTC Awards Approximately $9 Million To Whistleblower

Date 27/07/2020

The Commodity Futures Trading Commission today announced an award of approximately $9 million to a whistleblower whose specific, credible, and timely tip led the Commission to open an investigation and ultimately bring a successful enforcement action. This award is one of the five largest granted in the history of the CFTC Whistleblower Program.

SEC: Statement By The Staff Standards Of Conduct Implementation Committee Regarding New Form CRS Disclosures - Staff Standards Of Conduct Implementation Committee

Date 27/07/2020

Form CRS, which was adopted by the Securities and Exchange Commission (the “Commission”) in June 2019, is a brief relationship summary designed to help retail investors make informed choices regarding whether a brokerage or investment advisory relationship, as well as whether a particular broker-dealer or investment adviser (each, a “firm”), best suits his or her particular needs and circumstances. In this way, the relationship summary was designed to reduce investor confusion in the marketplace for brokerage and investment advisory services and otherwise assist investors when they work with financial professionals. The relationship summary promotes transparency and better-informed decision making, through clear, concise disclosures, and by summarizing in one place selected information about a particular firm. Both broker-dealers and investment advisers must provide to retail investors a relationship summary containing plain English disclosures on the same topics under standardized headings in a prescribed order, allowing retail investors to more easily compare different firms’ services, fees, and other important information.

IMF Executive Board Approves US$4.3 Billion In Emergency Support To South Africa To Address The COVID-19 Pandemic

Date 27/07/2020

• The COVID-19 outbreak is leading to a sharp economic contraction and significant financing needs in South Africa.
• The IMF approved US$4.3 billion in emergency financial assistance under the Rapid Financing Instrument to support the authorities’ efforts in addressing the challenging health situation and severe economic impact of the COVID-19 shock.
• Once the pandemic is behind, there is a pressing need to ensure debt sustainability and implement structural reforms to support the recovery and achieve sustainable and inclusive growth.

ISDA And ISLA Agree To Closer Collaboration On Digital Initiatives

Date 27/07/2020

ISDA and the International Securities Lending Association (ISLA) have agreed to closely collaborate on two key initiatives to deliver digital solutions to their respective memberships in a consistent and cost-effective way.

BSX Will Be Closed For Bermuda ‘Cup Match’ Public Holidays

Date 27/07/2020

The Bermuda Stock Exchange (“BSX”) advises that the BSX will be closed on Thursday 30th and Friday 31st  July 2020, for the Emancipation Day and Somers Day (collectively known as “Cup Match”) public holidays in Bermuda. The BSX will reopen on Monday, August 3rd, 2020.

EBA Consults On Technical Standards On Indirect Subscription Of MREL Instruments Within Groups (EBA/CP/2020/18)

Date 27/07/2020

The European Banking Authority (EBA) launched today a public consultation on its draft Regulatory Technical Standards (RTS) specifying the methods to avoid that instruments indirectly subscribed by the resolution entity for the purpose of meeting the minimum requirement for own funds and eligible liabilities (MREL), applicable to entities that are not themselves resolution entities, hamper the smooth implementation of the resolution strategy. These patterns of indirect subscription are also known as “daisy chains of internal MREL”. The consultation runs until 27 October 2020.

J.P. Morgan Asset Management Joins ICE ETF Advisory Committee - Becomes A Key Development Partner For The Platform

Date 27/07/2020

Intercontinental Exchange, Inc. (NYSE:ICE), a leading operator of global exchanges and clearing houses and provider of data and listings services, today announced that JP Morgan Asset Management has joined the ICE ETF Hub advisory committee as a development partner for the platform.

EBA Consults On Technical Standards On Indirect Subscription Of MREL Instruments Within Groups

Date 27/07/2020

The European Banking Authority (EBA) launched today a public consultation on its draft Regulatory Technical Standards (RTS) specifying the methods to avoid that instruments indirectly subscribed by the resolution entity for the purpose of meeting the minimum requirement for own funds and eligible liabilities (MREL), applicable to entities that are not themselves resolution entities, hamper the smooth implementation of the resolution strategy. These patterns of indirect subscription are also known as “daisy chains of internal MREL”. The consultation runs until 27 October 2020.

Dubai Financial Market Company Posts Net Profit Of AED 78.9 Million During The First Half Of 2020

Date 27/07/2020

H.E. Essa Kazim underlining key developments of the first half:

• The DFM has maintained its attractiveness and registered encouraging indicators armoured by UAE’s pro-active approach dealing with repercussions of COVID-19
• The trading value has increased by 25%, exceeding AED 31 Billion
• The DFM attracted 1718 new investors, lifting its investor base to 845,770 investors
• Foreign investors accounted for 49% of trading value and 18.2% of market capitalization
• The General Index restored a considerable percentage of its previous decline with the second quarter’s 16% upsurge
• Implementation of strategic initiatives including; the launch of Dubai Clear and Dubai CSD and the accomplishment of DFM’s largest technology upgrade

Moscow Exchange: Risk Parameters Change On Securities Market

Date 27/07/2020

CCP NCC changes PcH_max parameter value that defines price up limit for UNKL shares on Securities market starting from July 28, 2020: