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The Rationale For The FCA’s Mission And The Context Which The FCA Operates In - Speech By Andrew Bailey, Chief Executive At The FCA, Delivered At City Banquet, Mansion House

Date 26/10/2016

Highlights
- Our future Mission sets out our thinking on how we approach our task and the tools we have to achieve it.
- The purpose of our Mission is to start a discussion to help decide the best way for us to apply our statutory objectives in future.
- We must work out how to fulfil our objectives in a world of rising uncertainty and the Mission starts to try to tackle this question.
Nasdaq Reports Third Quarter 2016 Earnings - Delivers Record Subscription And Recurring Revenues(1)

Date 26/10/2016
- Net revenues2 were a record $585 million in the third quarter of 2016, up 11% year-over-year.
- Third quarter 2016 diluted EPS was $0.77. Non-GAAP3 diluted EPS for the third quarter 2016 was $0.91.
- Subscription and recurring revenues in the third quarter of 2016 were a record and represented 75% of total net revenues. Information Services, Technology Solutions, and Listing Services segments each achieved quarterly record net revenues.
- At September 30, 2016, the company had achieved $23 million in annualized run-rate cost synergies for the acquisitions completed in 2016 out of a targeted $60 million expected upon completion of integration.
- During the third quarter of 2016, Nasdaq repurchased $55 million of its common stock. Total repurchases from the beginning of the year through September 30, 2016 were $100 million.
Statement At Open Meeting On A Universal Proxy System And Exemptions To Facilitate Intrastate And Regional Securities Offerings, SEC Chair Mary Jo White, Oct. 26, 2016

Date 26/10/2016

Good morning. This is an open meeting of the U.S. Securities and Exchange Commission on October 26, 2016, under the Government in the Sunshine Act. Today, the Commission will consider two recommendations from the Division of Corporation Finance. First, the Commission will consider a recommendation to propose changes to our proxy rules to require the use of universal proxy cards in contested director elections. Second, the Commission will consider recommendations for final rules to further facilitate companies’ access to capital through intrastate and regional securities offerings, with accompanying investor protections provided by state and federal law.
London Stock Exchange Welcomes First ELITE UK Company IPO

Date 26/10/2016
- Engineering specialist, Van Elle, raises £40 million, valuing it at £80 million
- Company joined ELITE in April 2014, as part of first UK cohort
- Demonstrates UK’s ability to grow and support ambitious businesses
FSB Regional Consultative Group For Sub-Saharan Africa Discusses Financial Stability Issues And Regulatory Reforms

Date 26/10/2016

On 25-26 October, the South African Reserve Bank hosted the tenth meeting of the Financial Stability Board (FSB) Regional Consultative Group (RCG) for Sub-Saharan Africa in Cape Town, South Africa.

BME: IBEX-35 Non-Financial Corporations Are Now Funding Themselves More With Bonds Than Bank Lending - Analysis Of The Corporate Financing Structure

Date 26/10/2016
- At the close of 2015, total Fixed Income financing across IBEX-35 non-financial corporation reached €115bn, compared to €83bn of short and long term bank lending.
- Non-financial corporations’ equity forming part of the IBEX-35 have increased by 15.4% from 2010 to 2015, while bank financing fell by nearly 40% and financing via debt issuance rose by 23%.
- The number of non-financial corporations issuing bonds has risen from 4 in 2008 to 39 in 2014 and 31 in 2015.
- The MARF is contributing to this trend: 26 companies have made issues worth a total of €3bn since 2013
United Kingdom Parliament Treasury Committee Update: Chair On FCA's New Mission Statement

Date 26/10/2016

Andrew Bailey, Chief Executive of the Financial Conduct Authority (FCA), has just launched a consultation on the FCA's guiding set of principles. In response to the consultation, Rt Hon. Andrew Tyrie MP, Chairman of the Treasury Committee, said:

"Andrew Bailey’s consultation document will be raised with him when he comes before the Committee next month.

At a quick read it looks like a robust attempt to give the FCA a much clearer sense of direction. It also attempts to identify what the FCA cannot reasonably be expected to do. Both are certainly needed. So is the greater transparency about its decisions and choice of priorities, promised in the FCA's consultation document."
ESMA Issues Q&AS On The Implementation Of MAR

Date 26/10/2016

The European Securities and Markets Authority (ESMA) has issued today a set of Questions and Answers (Q&As) regarding the implementation of the Market Abuse Regulation (MAR).
City Index Tightens Major FX Spreads - EUR/USD Now From Just 0.5 Pts And GBP/USD From 0.8 Pts

Date 26/10/2016

City Index, a global leader in online trading, announced today that it has reduced its spreads across a wide range of FX pairs. AUD/USD, EUR/USD and USD/JPY will now be priced from just 0.5 pts and GBP/USD will be priced from 0.8 pts.
EFSF Raises €2 Billion In Tap Of 2026 Bond

Date 26/10/2016

The European Financial Stability Facility (EFSF) on Wednesday raised €2 billion in a tap of its 31 May 2026 bond. With this transaction, the EFSF has completed its funding needs for the year.

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