News Centre

Shenzhen Stock Exchange Organized A Seminar On Stock Issuance And Listing Review To Promote The Sound Operation Of The Registration-based IPO System On The ChiNext Board

Date 28/08/2020

In order to further improve the quality and efficiency of the procedures for reviewing stock issuance and listing, SZSE, adhering to the guiding principle of “conducting reforms with an open mind, transparency and concerted efforts”, specially invited persons in charge of relevant sponsors to a seminar on August 25, the day when the first group of 18 enterprises were officially listed under the registration-based IPO system on the ChiNext Board. During the seminar, various topics have been discussed, including issuance and listing review for IPOs, refinancing, mergers and acquisitions on the ChiNext Board, as well as the legal support for the registration-based IPO system.

Monetary Authority of Singapore' Response To Queries On Proposed Merger Of ESR REIT And Sabana REIT

Date 28/08/2020

In response to media queries received in relation to the proposed merger of ESR REIT and Sabana REIT, MAS would like to clarify that our regulatory framework does not prohibit a shareholder group from owning substantial stakes in two REIT managers managing REITs invested in the same property class. Under the Securities and Futures Act, there are regulatory safeguards to mitigate potential conflicts of interest:

- Boards of REIT managers must comprise at least half independent directors where unitholders do not have the right to vote on the appointment of directors to the board.   

- REIT managers and their directors have a legal obligation to act in the best interests of unitholders, and prioritise unitholders’ interests over those of the REIT manager and its shareholders.

Connectivity NZX – Markets Resume Trading

Date 28/08/2020

Further to this morning's communication, NZX confirms that the NZX Main Board, NZX Debt Market and Fonterra Shareholders' Market will resume trading at 1:00pm this afternoon.

Connectivity NZX – Markets In Halt

Date 28/08/2020

NZX confirms that the NZX Main Board, NZX Debt Market and Fonterra Shareholders' Market are currently in a halt. This is as a result of network connectivity issues relating to DDoS cybersecurity attacks.

US Department Of Justice: United States Files Complaint To Forfeit 280 Cryptocurrency Accounts Tied To Hacks Of Two Exchanges By North Korean Actors

Date 27/08/2020

The Justice Department today filed a civil forfeiture complaint detailing two hacks of virtual currency exchanges by North Korean actors.  These actors stole millions of dollars’ worth of cryptocurrency and ultimately laundered the funds through Chinese over-the-counter (OTC) cryptocurrency traders.  The complaint follows related criminal and civil actions announced in March 2020 pertaining to the theft of $250 million in cryptocurrency through other exchange hacks by North Korean actors.

ISDA derivatiViews: Deciding On Deference

Date 27/08/2020

In 2013, the Commodity Futures Trading Commission (CFTC) unveiled its cross-border guidance, which set out how it intended to apply US rules in foreign jurisdictions. The commission debated the meaning of a “direct and significant” impact to the US economy in order to justify a broad international application of CFTC rules. As a commissioner at that time, I made my views about the agency’s guidance very clear. I felt it went well beyond the limits set by Congress by indiscriminately exporting CFTC rules overseas with insufficient weight given to principles of international comity, creating duplication and inconsistencies in rule sets. Seven years on, the CFTC recently opted for a different approach – one that will defer to a much greater extent to foreign regulators and reduce the prospect of overseas swaps activity being subject to CFTC oversight unless it poses a material risk to the US.

BOX Exchange: Update To BOX Rule 7160 (Transfer Of Positions)

Date 27/08/2020

BOX Exchange LLC (“BOX”) recently distributed RC-2020-16 which detailed the criteria and procedures that Participants must follow in order to engage in off-floor transfers of options positions. Effective August 28, 2020, BOX has modified the criteria for certain off-floor position transfers.

NZX Markets To Open As Normal

Date 27/08/2020

NZX’s markets will open as normal today, following ongoing work to put in place additional measures to maintain system connectivity, and address the severe DDoS attacks from offshore this week.

Markets, Morality, And Mobsters: Remarks At The 18th Annual Corporate Governance Conference, Commissioner Hester M. Peirce, University Of Texas At Dallas Institute For Excellence In Corporate Governance, Aug. 27, 2020

Date 27/08/2020

Thank you Jessica [Magee].  It is a particular honor to be introduced by an SEC alumna.  Although I had hoped this could be an in-person event, I am grateful that we nevertheless can spend some time together virtually.  Before I begin, I have to remind you that the views I represent are my own and not necessarily those of the Securities and Exchange Commission or my fellow Commissioners. 

Adoption Of Changes To Minor Rule Violation Plans Adding CAT Reporting Compliance Rules

Date 27/08/2020

MIAX Exchange Group has adopted changes to the Exchanges’ Minor Rule Violation Plans (“MRVPs”) to make Members’ violations of the Consolidated Audit Trail (“CAT”) compliance rules (“CAT Compliance Rules”) eligible for disposition with a minor rule violation fine, when warranted.