News Centre

UAE Securities And Commodities Authority: Brokerage Firms In The DGCX Are Allowed To Act As DFM Derivative Members

Date 14/07/2022

The Securities and Commodities Authority (SCA) issued Board Chairman’s Decision No. (15/Chairman) of 2022, in which it approved controls for brokerage firms operating in the Dubai Gold and Commodities Exchange (DGCX) and acting as derivative members of the Dubai Financial Market (DFM).

MAS Monetary Policy Statement - July 2022

Date 14/07/2022

INTRODUCTION

1.   Since October 2021, MAS has been progressively tightening monetary policy as the economic recovery consolidated and inflationary pressures picked up. MAS has assessed that it is appropriate to further tighten its monetary policy stance so as to lean against price pressures becoming more persistent.

Nadex Product Schedule For The Japan Holiday On July 18, 2022

Date 13/07/2022

Due to the Japan holiday on Monday, July 18, 2022 the Japan 225 contracts will have a modified trading schedule.

Readout: US Deputy Secretary Of The Treasury Wally Adeyemo’s Call With Ukraine Minister Of Finance Sergii Marchenko

Date 13/07/2022

Today, Deputy Secretary of the Treasury Wally Adeyemo spoke with Ukraine Minister of Finance Sergii Marchenko to discuss U.S. economic assistance for Ukraine and international efforts to hold Russia accountable for its unjustified and unprovoked war on Ukraine.  Deputy Secretary Adeyemo reaffirmed the United States’ commitment to Ukraine and discussed international economic assistance provided by donor countries, including the recent additional contribution from the United States to Ukraine of $1.7 billion in direct budgetary support.  Deputy Secretary Adeyemo reiterated that the U.S. Treasury continues to use its sanctions authorities to degrade Russia’s ability to wage its war in Ukraine and threaten its neighbors.  Deputy Secretary Adeyemo and Minister Marchenko also discussed progress made toward implementing a price cap on Russian oil to restrict revenue for Russia’s military while dampening the impact of Putin’s war on global oil and energy prices.

Statement On Final Rule Amendments On Proxy Voting Advice, SEC Commissioner Mark T. Uyeda

Date 13/07/2022

Thank you, Chair Gensler. Today, we are considering an amendment to the rules governing the practices of businesses providing proxy voting advice.

U-Turn: Comments On Proxy Voting Advice, SEC Commissioner Hester M. Peirce, July 13, 2022

Date 13/07/2022

Thank you, Mr. Chair. I appreciate the staff’s diligence, graciousness, professionalism, and hard work throughout this rulemaking process. Staff’s valuable time, however, could have been put to better use. For example, staff could have worked immediately on addressing outstanding issues around proxy plumbing and, in several years, on conducting a retrospective review of the 2020 Rules. Instead, the request made of the staff was a difficult and pointless one—find a way to redo a freshly adopted rule without any new information to suggest that such a rewrite is warranted. I am sorry that I cannot support the resulting rule.

Exclusion Preclusion: Statement On The Shareholder Proposals Proposal, SEC Commissioner Hester M. Peirce, July 13, 2022

Date 13/07/2022

1. Introduction

Thank you, Mr. Chair. As you just heard, this recommendation concerns Exchange Act Rule 14a-8, the rule that governs when public companies must include shareholder proposals in their proxy statements. We last amended this rule less than two years ago and have yet to experience a full proxy season with these changes in effect. The September 2020 amendments recalibrated the rule to balance the benefit of allowing shareholder proposals to be included in a company’s proxy materials with the reality that consideration of such proposals consumes company and shareholder resources.

Statement On Proposed Amendments For Substantial Implementation, Duplication, And Resubmission Of Shareholder Proposals Under Exchange Act Rule 14a-8 , SEC Commissioner Mark T. Uyeda, July 13, 2022

Date 13/07/2022

Thank you, Chair Gensler. The Rule being discussed today was so recently amended that the Commission has not had the chance to determine the effects of those changes.

Statement On Adoption Of Amendments To Proxy Rules Governing Proxy Voting Advice & Proposal Of Amendments To Rule 14a-8, SEC Commissioner Caroline A. Crenshaw,, July 13, 2022

Date 13/07/2022

In the past, corporate democracy was traditionally exercised in-person at an annual meeting. At these meetings, company shareholders gathered together physically, in a room, to cast their votes on a variety of issues ranging from the election of directors to employee working conditions. Today, with two years of COVID telework and remote technology under our belt, that may seem as antiquated as my parents’ landline rotary phone. The majority of shareholders now vote through the grant of proxy in advance of the meeting, electronically. In other words, they fill out a ballot, or someone, like their investment adviser, does so on their behalf through an electronic vote management system. This process, as a whole, is generally referred to as the proxy process and, over time, the corporation’s proxy materials have become, as the D.C. Circuit acknowledged, “the forum for shareholder suffrage.”

SEC Proposes Amendments To Shareholder Proposal Rule

Date 13/07/2022

The Securities and Exchange Commission today proposed amendments to the rule that governs the process for including shareholder proposals in a company’s proxy statement. Under Rule 14a-8, companies generally must include shareholder proposals in their proxy statements. The rule, however, provides several bases for exclusion, including several substantive requirements that proposals must comply with to avoid exclusion. The proposed amendments would revise three of the bases for exclusion to promote more consistency and predictability in application.