News Centre

ASIC Proposes To Extend Design And Distribution Obligations Instrument

Date 15/08/2023

ASIC is inviting industry feedback on a proposal to extend the operation of the ASIC Corporations (Design and Distribution Obligations Interim Measures) 2021/784 instrument for a further five years.

Shenzhen Stock Exchange Earnestly Implements The Consensus Reached Between CSRC & SFC By Continuously Enriching And Optimizing The Connectivity Mechanism

Date 15/08/2023

On August 11, 2023, China Securities Regulatory Commission (hereinafter referred to as “CSRC”) and Securities and Futures Commission of Hong Kong (hereinafter referred to as “SFC”) issued a joint announcement, unveiling their agreement on promoting block trades (and non-automatching trades) to be included in the connectivity mechanism.

U.S. Department Of Justice: UBS Agrees To Pay $1.435 Billion For Fraud In The Sale Of Residential Mortgage-Backed Securities - Settlement Brings Total Amount Of Civil Penalties Paid By Banks, Originators, And Ratings Agencies For Such Securities To Over $36 Billion

Date 14/08/2023

UBS AG and several of its U.S.-based affiliates (together, UBS) have agreed to pay $1.435 billion in penalties to settle a civil action filed in November 2018 alleging misconduct related to UBS’ underwriting and issuance of residential mortgage-backed securities (RMBS) issued in 2006 and 2007. This settlement resolves the last case brought by a Justice Department working group dedicated to investigating conduct of banks and other entities for their roles in creating and issuing RMBS leading up to the 2008 financial crisis.

NGX, Chartered Institute Of Stockbrokers, Association Of Securities Dealing Houses Of Nigeria To Work With Ministry Of Finance Incorporated On Market Development, Listings

Date 14/08/2023

Nigerian Exchange Limited (NGX), along with the Chartered Institute of Stockbrokers and the Association of Securities Dealing Houses of Nigeria (ASHON), have demonstrated their willingness to collaborate with the Federal Government through the Ministry of Finance Incorporated (MOFI) in facilitating market development and listings.

ISDA-Clarus RFR Adoption Indicator: July 2023

Date 14/08/2023

The ISDA-Clarus RFR Adoption Indicator rose to 60.6% in July 2023 compared to 58.1% in June 2023. The indicator tracks how much global trading activity (as measured by DV01) is conducted in cleared over-the-counter and exchange-traded interest rate derivatives (IRD) that reference risk-free rates (RFRs) in eight major currencies. On a traded notional basis, the percentage of RFR-linked IRD increased to 57.9% of total IRD transacted in July 2023 compared to 55.6% the prior month.

SEC Charges UK Audit Firm, CEO, And Senior Auditor For Failures In Connection With De-SPAC Transaction

Date 14/08/2023

The Securities and Exchange Commission today charged Crowe U.K. LLP, a London based audit firm, its CEO, Nigel Bostock, and senior auditor, Matthew Stallabrass, for the firm’s deficient audit of music streaming company Akazoo Limited. Crowe U.K., Bostock, and Stallabrass have agreed to settle the SEC’s charges.

MSCI Announces Acquisition Of Burgiss, Expanding Private Assets Leadership And Strengthening Multi-Asset Class Offering

Date 14/08/2023

• Firms combine best-in-class private market data and analytics with leading public market expertise
• Reinforces commitment to driving innovation and improving transparency in global private asset investing
• MSCI to host conference call today, August 14, at 11:00 AM ET

CME Group Foundation Awards 2023 Higher Education Scholarships To Rising Black And Latinx Students

Date 14/08/2023

• More than $3.1 million in Foundation scholarships awarded since 2019
• Students eligible for $20,000 in grants each year for up to three years

Edgewater's Flagship Technology And Credit Intermediation Revolutionizes Foreign Exchange Trading For GCC Currencies And Egypt

Date 14/08/2023

Edgewater Markets, a leading provider of technology, trade execution and liquidity aggregation across foreign exchange (FX) and precious metals, today announced the launch of its FX trading technology and credit intermediation services for GCC currencies (Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates), as well as Egypt. As the firm onboards local liquidity providers, this groundbreaking offering revolutionizes foreign exchange trading in the region by providing clients with the superior liquidity and unparalleled efficiency that have become Edgewater's hallmarks around the world.

Bank Of England Statement - RTGS / CHAPS: Resolved Technical Issue

Date 14/08/2023

This morning, the Bank of England  experienced a technical issue which prevented it from opening its real-time gross settlement (RTGS) service and CHAPS high value payments system. The issue has been resolved and settlement will resume shortly.