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Levelling The Playing Field – Innovation In The Service Of Consumers And The Market - Speech By UK Financial Conduct Authority CEO, Nikhil Rathi, To FinTech Week

Date 20/04/2021

Highlights

• Success in financial innovation has been enabled by regulatory open-mindedness.
• Support for innovation has been matched by action to protect consumers and markets.
• The FCA will be taking forward the Kalifa Review’s recommendation for a Scalebox, including the creation of a regulatory nursery.
• Online search and social media firms need to take greater responsibility for their role in connecting consumers with these investment offers.  
• We also need to make sure that our internal processes allow for quick action, which is why we are currently reviewing how our Regulatory Decisions Committee functions.

Moscow Exchange: Risk Parameters Change For The Security RU000A0JUW23

Date 20/04/2021

As per the Securities market risk parameters methodology, on 20.04.2021, 10-43 (MSK) the upper bound of the price band (up to 118.79) and initial margins (up to 16.25 %) for the security RU000A0JUW23 were changed. New values are available here

Curve Chooses Credit Kudos As Open Banking Partner For Curve Credit

Date 20/04/2021

• Curve has partnered with challenger credit reference agency, Credit Kudos, to strengthen its affordability and risk assessments for customers of its new Curve Credit product
• Credit Kudos uses Open Banking to provide lenders with real-time insights into a borrower’s financial situation, and to give a fuller view of an individual’s real-time financial health
• Credit Kudos was selected for its award-winning Open Banking insights, enabling Curve Credit to perform fast and accurate affordability assessments for all Curve Credit customers

ekko Launches With Mastercard Making It Effortless For Consumers To Take Action On Climate Change

Date 20/04/2021

• ekko, the transformative app that turns the tide on climate change, launches with Mastercard
• Customers will save a bottle from entering the ocean with every 5 transactions and plant a tree every 50 transactions
• ekko is the first UK fintech to join the Mastercard Priceless Planet Coalition

Sheesha Finance Partners With TeraBlock To Bring Machine Learning-Driven Trade Automation To Cryptocurrency Portfolios - The Partnership Aims To Create A Simplified Crypto On-Ramp And Asset Trade Automation Solution For New Investors And Traders

Date 20/04/2021

Sheesha Finance (https://sheesha.finance), the first comprehensive DeFi solution for investors to easily access a variety of projects while solving issues surrounding locked crypto assets, today announced their partnership with TeraBlock (https://terablock.ai), a trade automation exchange for cryptocurrencies that personalizes each user’s experience through machine learning. The partnership will leverage Sheesha’s unique DeFi staking model and TeraBlock’s machine learning technology to simplify the way people enter the crypto ecosystem as well as increasing and promoting the use of DeFi services instead of traditional finance.

Japan Financial Services Agency: Preparation For Permanent Cessation Of LIBOR

Date 20/04/2021

On March 5, 2021, ICE Benchmark Administration (IBA) has announced that it intends to cease the publication of LIBOR based on the current methodology referencing rates provided by panel banks (panel-based LIBOR) immediately after end-2021 except for certain US dollar LIBOR settings. While LIBOR is mainly referenced in derivative contracts such as interest rate swaps, it is also quoted in a significant number of cash products including corporate loans and bonds. Additionally, it is used in wide range of users, including not only financial institutions but also non-financial corporate and institutional investors. In this regard, there is the possibility of disruption to users if LIBOR were ceased without sufficient preparation.

Safeguarding Financial Stability And National Security, Speech At National Security Education Day, Mr Tim Lui, Chairman, Hong Kong Securities And Futures Commission

Date 20/04/2021

I am very pleased to share with you today the role and functions of the Securities and Futures Commission (SFC) in the important area of safeguarding financial stability and national security.

Readout: Secretary Of The US Treasury Janet L. Yellen’s Call With New Zealand Deputy Prime Minister And Minister Of Finance Grant Robertson

Date 19/04/2021

Earlier today, Secretary of the Treasury Janet L. Yellen spoke with New Zealand Deputy Prime Minister and Minister of Finance Grant Robertson. Secretary Yellen conveyed her intention to work with Deputy Prime Minister Robertson on tackling priority issues both the United States and New Zealand face including ending the pandemic, supporting the global economic recovery, fighting growing income inequality, and forcefully addressing the threat of climate change.  The Deputy Prime Minister and Secretary Yellen reviewed ongoing efforts to support a global minimum corporate tax.  Secretary Yellen thanked Deputy Prime Minister Robertson for ongoing efforts hosting the APEC forum this year, and noted her interest in working closely with New Zealand across multilateral forums to advance shared interests. 

Joint Trade Association Letter On The Use Of EEA UCITS As Collateral In UK Rules On Collateralization

Date 19/04/2021

On April 19, 2021, ISDA, the Alternative Investment Management Association, Investment Company Institute, the Institutional Money Market Funds Association and SIFMA’s Asset Management Group sent a letter to the Bank of England, Financial Conduct Authority and HM Treasury to ask them to permit EEA UCITS to be used as collateral in their non-cleared derivatives business. Under the current rules, UK UCITS would be the only UCITS eligible under UK rules after March 2022.

WallStreetBets Selects BSCstarter To Host Exclusive Public Token Sale - BSCstarter To Host WallStreetBets’ Highly Anticipated IDO Of $WSB To The BSC Community

Date 19/04/2021

BSCstarter (https://www.bscstarter.finance), the first community-focused fundraising platform, today announced the launch of $WSB token through an exclusive partnership with WallStreetBets DApp (https://wsbdapp.com), a decentralized application of the popular subreddit /r/wallstreetbets. The WallstreetBets DApp is a creation of WallStreetBets (https://twitter.com/wallstreetbets), an establishment behind the global movement against the current financial system, financial institutions, and Wall Street. Inspired by their aligning visions of a financial democracy, BSCstarter and WallStreetBets DApp will launch the official $WSB token through an Initial Dex Offering (IDO) on BSCstarter’s launchpad.