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Paying More For Less: Higher Costs For Shareholders, Less Accountability For Management, SEC Commissioner Allison Herren Lee, July 22, 2020

Date 22/07/2020

At the proposing stage for these rules, I observed that they would harm the governance process and suppress the free and full exercise of shareholder voting rights. Unfortunately, that is still the case with today’s final rules.
Pending Applications By EU Administrators Of Benchmarks – Article 51.1 Of BMR

Date 22/07/2020

The following table includes the information shared by National Competent Authorities with ESMA in relation to the applications for authorisation and registration by EU administrators under Article 51.1 of BMR for which, as of 01.01.2020, the decision by the relevant competent authority is still pending.
EBA: Consultation Paper On Guidelines Specifying The Conditions For The Application Of The Alternative Treatment Of Institutions’ Exposures Related To “Tri-Party Repurchase Agreements” For Large Exposures Purposes (EBA/CP/2020/13)

Date 22/07/2020

The European Banking Authority (EBA) launched today a consultation detailing on the three conditions institutions should comply with when they decide to make use of the alternative treatment with regard to tri-party repurchase agreements facilitated by a tri-party agent. The consultation runs until 22 October 2020.
Proxy Voting—Reaffirming And Modernizing The Core Principles Of Fiduciary Duty And Transparency To Provide For Better Alignment Of Interest Between Main Street Investors And The Market Professionals Who Invest And Vote On Their Behalf, SEC Chairman Jay Clayton, July 22, 2020

Date 22/07/2020

Good morning. This is an open meeting of the U.S. Securities and Exchange Commission, under the Government in the Sunshine Act. Today we have two items on the agenda, both continuations of our ongoing work to modernize and enhance the accuracy, transparency and effectiveness of our proxy voting system.
Momentum, Market Sentiment May Carry Commodity Prices Higher For A While Longer, But Not Indefinitely - IHS Markit Expects Fundamentals To Cap The Current Rally By The Fourth Quarter.

Date 22/07/2020

Since IHS Markit questioned last month whether commodities could continue moving higher, they have done just that. As measured by IHS Markit’s Material Price Index (MPI), commodity prices advanced another 5.5% between mid-June and mid-July. From the beginning of the current rally in late April, prices have risen for 11 straight weeks, recording a cumulative gain of 30.4%. Moreover, the rise in prices has been consistently broad-based with, on average, 70% of the MPI’s components increasing each week. The MPI is still down 6.1% in the year to date, but given the optimism in markets, it is conceivable that prices will erase their first quarter plunge before the end of September.

EBA: Consultation Paper On Regulatory Technical Standards (RTS) On Default Probabilities (PDs) And Losses Given Default (LGDs) Under The Internal Default Risk Model (EBA/CP/2020/12)

Date 22/07/2020

The European Banking Authority (EBA) launched a consultation on draft Regulatory Technical Standards (RTS) on default probabilities (PDs) and losses given default (LGDs) for default risk model for institutions using the new Internal Model Approach (IMA) under the Fundamental Review of the Trading Book (FRTB). These draft RTS are part of the deliverables included in the roadmap for the new market and counterparty credit risk approaches published on 27 June 2019. The consultation runs until 22 October 2020.
Building The Financial System Of The 21st Century - Speech By Luis De Guindos, Vice-President Of The ECB, At The 18th Annual Symposium On “Building The Financial System Of The 21st Century: An Agenda For Europe And The United States” Organised By The Program On International Financial Systems And Harvard Law School (By Videoconference)

Date 22/07/2020

In my remarks today, I will highlight the impact that the coronavirus (COVID-19) shock has had on the banking sector and market-based sources of finance. In both the euro area and the United States, the pandemic and the related lockdown measures have led to stark economic contractions. These contractions have been shaped by key structural differences between the two financial sectors, requiring differentiated policy responses. Irrespective of these differences, a powerful trio of monetary, prudential and fiscal policy responses on both sides of the Atlantic provided critical support that prevented the financial system from immediately seizing up, which would have had severe consequences for financial stability in the near term. Looking ahead, the pandemic shock may accelerate ongoing transformations in the financial sector landscape. Moreover, the shock is highlighting the importance of macroprudential policy in both the bank and non-bank financial sectors to safeguard a stable financial system.
Nasdaq Announces Quarterly Dividend Of $0.49 Per Share

Date 22/07/2020

The Board of Directors of Nasdaq, Inc. (Nasdaq: NDAQ) has declared a regular quarterly dividend of $0.49 per share on the company's outstanding common stock. The dividend is payable on September 25, 2020 to shareholders of record at the close of business on September 11, 2020. Future declarations of quarterly dividends and the establishment of future record and payment dates are subject to approval by the Board of Directors.
FSB Stocktake Considers Climate Risks And Financial Stability

Date 22/07/2020

The Financial Stability Board (FSB) today published a stocktake of financial authorities’ experience in including climate-related risks in financial stability monitoring. It draws on information provided by FSB member national authorities, international bodies and a workshop with the private sector.
ENERGISME Lists On Euronext Growth - €7.99 Million Raised – Market Capitalisation Of €28 Million

Date 22/07/2020

Euronext today congratulated ENERGISME, a French producer of energy management software, on its listing on Euronext Growth in Paris )