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ASIC: Merrill Lynch (Australia) Futures Pays $60,000 In Infringement Notice Penalty

Date 12/09/2017

Merrill Lynch (Australia) Futures Limited (“MLAF”) has paid a penalty of $60,000 to comply with an infringement notice given to it by the Markets Disciplinary Panel (“the MDP”).
Shenzhen Stock Exchange: Rapid Growth In Revenues And Profits Of Companies Listed On SME Board In First Half Of 2017

Date 12/09/2017

As per the semiannual reports disclosed by 887 companies on the SME board as of August 31, 2017, operating revenue amounts to CNY1.935 trillion on average, up by 26.68% compared with the same period in 2016; net profits are CNY 144 billion, up by 23.20% compared with 2016. In the first half of the year, revenues and profits of SME-board listed companies are growing rapidly, reflecting the vitality of SMEs and the private economy at a time of industrial structuring and economic transition.
November Oman Cargo Sold At OSP +$0.09: DME Auctions

Date 12/09/2017

Dubai Mercantile Exchange hosted its latest auction on Tuesday (September 5), on behalf of Oman’s Ministry of Oil and Gas (MOG)
Strategic Emerging Industries Company Listed On The ChiNext Handed In Eye-Catching Performance Results In The First-half Year Of 2017

Date 12/09/2017

In the first half of 2017, the companies listed on the ChiNext grew steadily in performance, playing more prominent role in the implementation the innovation driving development strategy, serving economy transformation and upgrading.
United States Files Civil Fraud Complaint Against Former Deutsche Bank Head Of Subprime Mortgage Trading - Defendant Involved In The Sale Of Over $1 Billion In Deutsche Bank Residential Mortgage-Backed Securities

Date 12/09/2017

The United States today filed a civil complaint in federal court in Brooklyn, New York, against Paul Mangione, former Deutsche Bank head of subprime trading. In its complaint, the United States alleges that Mangione engaged in a fraudulent scheme to misrepresent the characteristics of loans backing two residential mortgage-backed securities (RMBS) that Deutsche Bank sold to investors that resulted in hundreds of millions of dollars in losses. This suit is brought pursuant to the Financial Institutions Reform, Recovery and Enforcement Act of 1989 (FIRREA) and seeks an appropriate civil penalty.

SEC: Commission Statement On T+2 Implementation

Date 12/09/2017

Last week, on September 5, 2017, the securities industry successfully implemented a shortened settlement cycle for most securities transactions, pursuant to amendments to Rule 15c6-1 that the Commission adopted earlier this year. The move to a two business day standard settlement cycle – or T+2 – was the product of extensive preparation and coordination among regulators and industry. This change represents a significant milestone for the securities markets – the standard settlement cycle was last shortened in 1995 when it moved from five business days to three business days. The first transactions covered by the amended rule settled on September 7, 2017.
Deutsche Börse: Unscheduled Free Float Adjustment For Drillisch AG In TecDAX - Changes To Be Effective As Of 14 September 2017

Date 11/09/2017

On Monday, Deutsche Börse announced an unscheduled change to the TecDAX Index. Due to the completion of the overall transaction of Drillisch AG and United Internet AG, United Internet AG’s stake in Drillisch AG increased to more than 61.06 percent. Therefore, the free float of Drillisch AG changed by more than 10 percentage points.
Clearstream And HedgePole Partner On New Alternative Fund Data Service

Date 11/09/2017

Post-trade services provider Clearstream, which is part of Deutsche Börse Group, and HedgePole, a well-established specialist service and technology provider for hedge funds price and reference data, have entered into a cooperation agreement to provide the market with enhanced alternative fund price and reference data services. The need to provide specific high quality and up-to-date reference data and pricing to end investors for their holdings in alternative investments, such as hedge funds and private equity, as well as key regulatory requirements for compliance and anti-money laundering purposes are a key industry issue. This has led to the evolution of specific information requirements on an individual customer level.
SEC: Remarks Before The AICPA National Conference On Banks & Savings Institutions: Advancing High-Quality Financial Reporting In Our Financial And Capital Markets, Wesley R. Bricker, Chief Accountant, Washington D.C., Sept. 11, 2017

Date 11/09/2017

Good morning and thank you Chip Currie for that very generous introduction. It is an honor to be with each of you attending today’s AICPA National Conference on Banks & Savings Institutions. As in prior years, this conference continues to serve as a forum for noteworthy discussions on economic, market, and regulatory developments, as well as an opportunity for dialogue among leaders and policy makers in the banking industry.
Daniele Bianchi, Assistant Professor Of Finance, Warwick Business School, Comments On London Remaining First In The The Z/Yen Global Financial Centres Index

Date 11/09/2017

Commenting on London remaining first in the the Z/Yen global financial centres index, Daniele Bianchi, Assistant Professor of Finance, Warwick Business School said: "London's top spot is due to a combination of factors which won’t likely be affected in the wake of Brexit, such as the presence of one of the most trusted legal systems in upholding the rule of law, including the protection of creditor and shareholder rights; the superiority of the UK’s university education in economics and finance over its continental counterparts; and the UK’s tax and employment regulation system whereby financial services benefit from lower corporate tax rates and more flexible employment laws than, for instance, Germany and France.