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  • For The Birds: Statement On Adoption Of Rule Regarding Special Purpose Acquisition Companies, Shell Companies, And Projections, SEC Commissioner Hester M. Peirce, Jan. 24, 2024

    Date 24/01/2024

    Thank you, Mr. Chair. I cannot support this rule. The Commission has failed to identify a problem in need of a regulatory solution. To the contrary, the rule will exacerbate a problem—the shrinking pool of public companies—by closing down one road into the public markets. Certain features of Special Purpose Acquisition Companies (“SPACs”) needed fixing, but the market was fixing them before the Commission proposed this rule. We could have assisted the market in achieving targeted and clear enhancements to SPAC disclosures without imposing unnecessary costs or venturing into merit-based regulatory territory. With the time and resources it saved by engaging in a narrower rulemaking, the Commission could have undertaken a more meaningful project to assess and address the causes of the troubling dearth of public companies and the specific challenges of small companies seeking capital in the public markets.

  • The EBA Publishes Its Heatmap Following Scrutiny Of The Interest Rate Risk In The Banking Book

    Date 24/01/2024

    The European Banking Authority (EBA) published today its heatmap following scrutiny of the interest rate risk in the banking book (IRRBB) standards implementation in the EU. The heatmap discloses policy aspects that will be subject to further scrutiny, and corresponding actions in the short to medium and long term.

  • ISDA Response To Proposed Singapore Capital Amendments

    Date 24/01/2024

    On January 22, ISDA and FIA jointly responded to a consultation from the Monetary Authority of Singapore (MAS) on proposed amendments to the capital framework for approved exchanges and approved clearing houses. The scope of the response is limited to the capital framework for approved clearing houses.

  • FIA December 2023 SEF Tracker

    Date 24/01/2024

    Trading volume on swap execution facilities reached $849.8 billion in average notional value per day during December 2023. This was down 31.1% from the previous month but up 13.5% from the same month of the previous year. Compared to November 2023, trading was down in every sector.

  • BaFin Warns Consumers About The Website xpinvestment.com

    Date 24/01/2024

    The Federal Financial Supervisory Authority (BaFin) warns consumers about the services offered on the website xpinvestment.com. According to information available to BaFin, the unknown operator is providing financial and investment services on this website without the required authorisation.