News Centre

ESMA Consults On The Validation And Review Of CRAs’ Methodologies Guidelines

Date 13/07/2016

The European Securities and Markets Authority (ESMA) has published a Consultation Paper on guidelines on the validation and review of Credit Rating Agencies’ (CRAs) methodologies (the CP).

Statement On Amendments To Disclosure Of Order Handling Information, SEC Commissioner Kara M. Stein, July 13, 2016

Date 13/07/2016

I want to echo the Chair in thanking the staff that has worked on this proposal, including Ted Venuti, Arisa Kettig, Steve Kuan, Amir Katz, Chris Grobbel, and Andrew Sioson from the Division of Trading and Markets, and Amy Edwards, Hans Heidle, Shawn O’Donoghue, Lauren Moore, and Hermine Wong from the Division of Economic and Risk Analysis. I also want to acknowledge the hard work of those in the securities industry that have been working to improve transparency in our equity markets. Some market participants have voluntarily adopted policies and procedures to provide more meaningful information about order routing and execution to investors. I appreciate these efforts, and they have helped to inform today’s proposal.

CFTC Swaps Report Update

Date 13/07/2016

CFTC's Weekly Swaps Report has been updated, and is now available.

Statement On The Disclosure Update And Simplification Proposing Release, SEC Commissioner Kara M. Stein, July 13, 2016

Date 13/07/2016

Good morning. I would like to thank each of you for your work on this release.

Today, we are considering a proposal to “simplify” certain of the Commission’s disclosure requirements. Today’s release purports to identify provisions that may be redundant, duplicative, overlapping, outdated, or superseded — based on other Commission disclosure requirements, U.S. Generally Accepted Accounting Principles (“U.S. GAAP”), or changes in the information environment. The release also requests comment on whether certain disclosure items currently required by Commission rules, but which are not included in U.S. GAAP, should be retained, modified, or referred to the Financial Accounting Standards Board (“FASB”) for possible incorporation into U.S. GAAP.

ESMA Closed For Public Holiday On 14 July

Date 13/07/2016

ESMA will be open as usual on Friday.

Statement On Adoption Of Rule On Reporting And Dissemination Of Security-Based Swap Information, SEC Commissioner Kara M. Stein, July 13, 2016

Date 13/07/2016

I would like to thank the staff for their hard work in bringing this recommendation to the Commission, including John Roeser, Michael Gaw, Sara Albertson, Yvonne Fraticelli, Kathleen Gross, David Michehl, Geoffrey Pemble, Hari Phatak, Y.C. Loon, Lori Price, Robert Teply, Maureen Johansen, and Mykalia DeLesDernier.

Getting Culture And Conduct Right - The Role Of The Regulator - Speech By Jonathan Davidson, Director Of Supervision – Retail And Authorisations At The FCA, Delivered At The 2nd Annual Culture And Conduct Forum For The Financial Services Industry In London

Date 13/07/2016

Key points

• Our ambition is for the conduct element of culture: that mindsets and incentives will shift to make doing the right thing for consumers and the markets the objective that is always considered.
• The role of all leaders is to encourage a culture of personal responsibility and impress upon all staff the value of good culture to the health of the firm and the financial services industry more widely.
• More firms are forming the view that a strong conduct culture which builds consumer trust in firms and markets and inspires employees is in the economic self-interest of the firms and their shareholders.

SEC Proposes Amendments To Update And Simplify Disclosure Requirements As Part Of Overall Disclosure Effectiveness Review - Comments On Amendments Along With S-K Concept Release Input Will Further Inform Commission’s Actions To Enhance Disclosure

Date 13/07/2016

The Securities and Exchange Commission today voted to propose amendments to eliminate redundant, overlapping, outdated, or superseded provisions, in light of subsequent changes to Commission disclosure requirements, U.S. Generally Accepted Accounting Principles (U.S. GAAP), International Financial Reporting Standards (IFRS), and technology.

Recommended All-Share Merger Between London Stock Exchange Group Plc And Deutsche Börse AG - Exchange Offer Acceptance Update

Date 13/07/2016

Further to the announcement on 11 July 2016 in connection with the recommended all-share merger between London Stock Exchange Group plc ("LSEG") and Deutsche Börse AG ("Deutsche Börse"), HLDCO123 PLC ("HoldCo") lowered the threshold required for acceptances under the Exchange Offer from 75% to 60% of the Deutsche Börse Shares (less treasury shares) at the time of expiration of the Acceptance Period in respect of the relevant conditions to the LSEG Acquisition and the Deutsche Börse Acquisition. By way of update, based on the declarations of acceptance received and booked so far by the custodian banks for the Exchange Offer by HoldCo to the shareholders of Deutsche Börse AG, as at 14:00 hours (CEST) on 13 July 2016, HoldCo had received acceptances amounting to approximately 53.00% of the of the Deutsche Börse Shares (less treasury shares).

SEC Adopts Additional Rules Related To Security-Based Swap Transaction Reporting - Rules Increase Transparency In The Securities-Based Swap Market

Date 13/07/2016

The Securities and Exchange Commission today announced that it has adopted amendments and guidance related to rules regarding the regulatory reporting and public dissemination of security-based swap transactions, known as Regulation SBSR.  The new rules and guidance are designed to increase transparency in the security-based swap market.