News Centre

SEC: Staff Statement On The President’s Working Group Report On Money Market Funds, Dalia Blass, Director, Division Of Investment Management, Dec. 23, 2020

Date 23/12/2020

I. Introduction

In March, the short-term funding markets came under sharp stress from the economic concerns related to the COVID-19 pandemic and an overall flight to liquidity and quality among investors. The President’s Working Group on Financial Markets (“PWG”) has studied the effects of the COVID-19 pandemic on the short-term funding markets and, in particular, on money market funds. The results of this study are included in a report issued on December 22, 2020 and attached to this statement as an Appendix (the “Report”).

EBA Publishes Final Draft Technical Standards On Impracticability Of Contractual Recognition Under The BRRD Framework

Date 23/12/2020

The European Banking Authority (EBA) published today its final draft Regulatory Technical Standards (RTS) and final draft Implementing Technical Standards (ITS) on impracticability of contractual recognition of bail-in powers under the Bank Recovery and Resolution Directive (BRRD). These standards, which aim at ensuring the harmonised application of instances of impracticability of contractual recognition of bail-in powers, are part of the EBA's work to implement the BRRD.

SEC Issues Statement And Requests Comment Regarding The Custody Of Digital Asset Securities By Special Purpose Broker-Dealers

Date 23/12/2020

The Securities and Exchange Commission today issued a statement and request for comment regarding the custody of digital asset securities by broker-dealers in order to encourage innovation around the application of Securities Exchange Act Rule 15c3-3 to digital asset securities.

Federal Reserve Board Announces Appointment Of The Chairs And Deputy Chairs Of The Federal Reserve Banks For 2021

Date 23/12/2020

The Federal Reserve Board on Wednesday announced the designation of the Chairs and Deputy Chairs of the 12 Federal Reserve Banks for 2021.

SEC Chief Of Staff Sean Memon Announces Plans To Conclude Tenure

Date 23/12/2020

The Securities and Exchange Commission today announced that Sean Memon will conclude his tenure as the agency's Chief of Staff in January 2021.

Hammerson Plc Lists On Euronext Dublin

Date 23/12/2020

• Market capitalisation of £963.6 million
• Hammerson plc completes secondary listing on Euronext, underlining the importance and scale of its European operations and investor base
• Hammerson joins the Euronext real estate franchise of 115 issuers with a combined market capitalisation of over €94 billion as of 23 December 2020

BME: MARF Registers Bonds From Elecnor Energy Efficiency Securitisation Fund For 50 Million

Date 23/12/2020

• This is the first securitization bond issue of future credit rights derived from contracts with public authorities in Spain

Moscow Exchange: Risk Parameters On Securities Market

Date 23/12/2020

CCP NCC sets the following risk parameters on Securities market starting from December 24, 2020:

ESMA Consults On Fines And Penalties For Benchmark Administrators

Date 23/12/2020

The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, today launches a consultation on specific aspects of the procedural rules for imposing fines and penalties on Benchmark Administrators under ESMA’s direct supervision.

Statement On Primary Direct Listings, SEC Commissioner Allison Herren Lee, SEC Commissioner Caroline A. Crenshaw, Dec. 23, 2020

Date 23/12/2020

Today, the Commission approved a new listing rule from the New York Stock Exchange (“NYSE”) which fundamentally shifts how companies can access the public markets.  The new listing standard will allow primary direct listings of companies seeking to go public and, importantly, raise capital outside of the traditional initial public offering (“IPO”) process. NYSE’s proposal represents what could have been a promising and innovative experiment.  Unfortunately, the rule fails to address very real concerns regarding protections for investors.  As a result, we are unable to support this specific approach.