News Centre

NAEEM Shares & Bonds Becomes Member Of Nasdaq Dubai’s Equity Futures Market

Date 18/01/2017

• Brokerage aims to bring new GCC, Egyptian and international clients to trade on rapidly growing platform
• Move into equity futures is part of NAEEM expansion plan

Commendation Conference For Outstanding Institutions, Individuals On 2016 Shanghai Stock Exchange Bond Market Held

Date 18/01/2017

On January 16, the Shanghai Stock Exchange (SSE) held a commendation conference for outstanding institutions and individuals on the SSE bond market. A total of 32 outstanding institutions and 43 individuals were awarded at the commendation conference, which covered underwriting, trading, custody and business innovation of bonds and other aspects.

CalPERS Board Re-Elects Rob Feckner As President, Henry Jones As Vice President

Date 18/01/2017

The California Public Employees' Retirement System (CalPERS) Board of Administration re-elected Rob Feckner as board president, and Henry Jones as vice president. This will be Feckner's 13th term as president and Jones' third term as vice president.

SEC Charges Businessman With Misusing EB-5 Investments

Date 17/01/2017

The Securities and Exchange Commission today announced fraud charges against an Oakland, Calif.-based businessman accused of misusing money he raised from investors through the EB-5 immigrant investor program intended to create or preserve jobs for U.S. workers.

SEC: Allergan Paying $15 Million Penalty For Disclosure Failures During Merger Talks

Date 17/01/2017

The Securities and Exchange Commission today announced that Allergan Inc. has agreed to admit securities law violations and pay a $15 million penalty for disclosure failures in the wake of a hostile takeover bid.

Antonio Tajani Elected New President Of The European Parliament

Date 17/01/2017

Antonio Tajani (EPP, IT) won Parliament’s presidential election with 351 votes in a final face-off with Gianni Pittella (S&D, IT), who secured 282 votes.

New York State Department of Financial Services Grants Virtual Currency License To Coinbase, Llc Five Virtual Currency Entities Have Received Approval By DFS To Operate In New York

Date 17/01/2017

Financial Services Superintendent Maria T. Vullo today announced that the New York State Department of Financial Services (DFS) has approved the application of Coinbase, Inc., a wholly owned subsidiary of Coinbase Global, Inc., for a virtual currency and a money transmitter license. As a leading state financial services regulator, DFS has rapidly responded to innovations by licensing technology based money transmitters under New York’s money transmitter law; online lenders under New York’s banking law; and virtual currency exchanges under New York’s financial services law. DFS, citing its experience in regulating emerging financial services technology firms, recently submitted a comment letter in opposition to the Office of the Comptroller of the Currency (OCC) proposal to create a new national bank charter for “fintech” companies.

MIAX Options Update To Roll Out Date For PRIME Changes

Date 17/01/2017

The roll out date for changes to MIAX Options Prime orders with a size of less than 50 contracts has been updated and is now scheduled for Thursday, January 19, 2017 pending effectiveness of regulatory filings. 

US Department Of Justice: Deutsche Bank Agrees To Pay $7.2 Billion For Misleading Investors In Its Sale Of Residential Mortgage-Backed Securities - Deutsche Bank’s Conduct Contributed To The 2008 Financial Crisis

Date 17/01/2017

The Justice Department, along with federal partners, announced today a $7.2 billion settlement with Deutsche Bank resolving federal civil claims that Deutsche Bank misled investors in the packaging, securitization, marketing, sale and issuance of residential mortgage-backed securities (RMBS) between 2006 and 2007.  This $7.2 billion agreement represents the single largest RMBS resolution for the conduct of a single entity.  The settlement requires Deutsche Bank to pay a $3.1 billion civil penalty under the Financial Institutions Reform, Recovery and Enforcement Act (FIRREA).  Under the settlement, Deutsche Bank will also provide $4.1 billion in relief to underwater homeowners, distressed borrowers and affected communities.

DTCC Appoints Derek West As Chief Compliance Officer For Its European Global Trade Repository Business - West Previously Served As Senior Director Of Derivatives Oversight At The Autorité Des Marchés Financiers In Quebec

Date 17/01/2017

The Depository Trust & Clearing Corporation (DTCC), the premier post-trade market infrastructure for the global financial services industry, today announced that Derek West, former Senior Director of Derivatives Oversight at the Quebec Autorité des marchés financiers (AMF), has joined the firm as Executive Director and Chief Compliance Officer for the firm’s European Global Trade Repository[1] (GTR) business. Mr. West will be responsible for ensuring GTR Europe remains in full compliance with European Market Infrastructure Regulation (EMIR) trade repository requirements, as well as other applicable laws and regulations.  In addition, he will coordinate EMIR supervisory activities and examinations, as well as work closely with GTR senior management and the European Securities and Markets Authority (ESMA).