News Centre

JonesTrading Hires Industry Expert Jon Jefferies, Managing Director Equity Trading, New York

Date 28/10/2020

JonesTrading Institutional Services LLC (“JonesTrading”) announced today that Jon Jefferies has joined as a Managing Director of equity trading in the firm’s New York office. The move comes in a year of tremendous growth for the global trading firm, and will further enhance JonesTrading’s reputation as the leading unconflicted provider of equity block trading and global equity and option execution.  

Duck Creek Technologies Joins Madrid Fintech Cluster (MAD Fintech), An Initiative Between The Madrid City Council And The Ecofin Forum, Which Were Recently Joined By The Community Of Madrid

Date 28/10/2020

Duck Creek Technologies announced today that it has joined the Madrid Fintech (MAD Fintech) Cluster, as one of more than 100 founder companies of this initiative which has worked in its 14 Commissions and 5 Working Groups since day one. The Cluster’s goal is to convert Madrid into a world fintech capital by gathering the most innovative companies in the financial and insurance/insurtech industries – as well as other associations and both public and private institutions – to boost and develop the ecosystem in Madrid and throughout Spain.

UK Financial Conduct Authority, UK Pensions Regulator And UK Money And Pensions Service Joint Statement On Rolls-Royce Defined-Benefit Pensions Scheme

Date 28/10/2020

The FCA, the Pensions Regulator (TPR) and the Money and Pensions Service (MaPS) have been engaging with Rolls-Royce and the scheme’s Trustees in order to be vigilant against the risks associated with increased transfer requests as a consequence of redundancies.

European Accounting Enforcers To Enhance Transparency On Covid-19 Impact

Date 28/10/2020

The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has issued its annual Public Statement on European Common Enforcement Priorities (Statement), which sets out the priorities that EEA corporate reporting enforcers will consider when examining listed companies’ 2020 annual financial reports.

Statement On The Final Rule On Fund’s Use Of Derivatives, SEC Commissioner Allison Herren Lee, Oct. 28, 2020

Date 28/10/2020

Today, the Commission adopts a long-awaited framework governing funds’ use of derivatives. The use of derivatives often involves leverage because it enables a fund to magnify its gains or losses relative to the fund’s investment while also exposing the fund to the potential for future payment obligations in certain circumstances. Despite the substantial increase in funds’ use of derivatives over the past several decades, the regulatory framework has been piecemeal at best, composed primarily of a patchwork of sometimes inconsistent guidance and no-action letters. As I said at the time of proposal, a comprehensive rulemaking is needed to establish a systematic approach that more meaningfully limits fund risk-taking, and I appreciate the efforts of the Staff in the Division of Investment Management and the Division of Economic and Risk Analysis.

BME: The Stock Market, Key To The REITs Sector In The Economic Recovery

Date 28/10/2020

• Last year these vehicles posted increases in terms of revenue from rents, net profit and operating margin
• In 2019 they increased their shareholder remuneration, with 1.3 billion euros in dividends, 60% more
• Between December and June their market cap was down 17% due to the Covid-19 crisis

BME Welcomes Soltec

Date 28/10/2020

• · The traditional Bell Ringing has been broadcast via streaming
• · The company has raised 150 million euros

SEC Adopts Modernized Regulatory Framework For Derivatives Use By Registered Funds And Business Development Companies

Date 28/10/2020

The Securities and Exchange Commission today voted to enhance the regulatory framework for derivatives use by registered investment companies, including mutual funds (other than money market funds), exchange-traded funds (ETFs) and closed-end funds, as well as business development companies. The new rule and rule amendments will provide a modernized, comprehensive approach to the regulation of these funds’ derivatives use that addresses investor protection concerns and reflects developments over the past decades. The Commission is committed to designing regulatory programs that reflect the ever-broadening product innovation and investor choice available in today’s asset management industry, while also taking into account the risks associated with funds’ increasingly complex portfolio composition and operations.

ESMA Publishes Translations For Decision Of Renewal To Lower The Reporting Thresholds Of Net Short Positions

Date 28/10/2020

Modernizing The Regulatory Framework For Funds’ Use Of Derivatives, SEC Chairman Jay Clayton, Oct. 28, 2020

Date 28/10/2020

Good morning. This is an open meeting of the U.S. Securities and Exchange Commission, under the Government in the Sunshine Act.

Today, we are considering a new rule to provide an updated and comprehensive regulatory framework for the use of derivatives by registered investment funds, including mutual funds and exchange traded funds (ETFs). I have spoken before on the importance of modernization—ensuring that the implementation of our time-tested, long term investor-oriented regulatory structure keeps pace with today’s marketplace—to the Commission’s mission and our markets more generally.[1]  I have no doubt that this commitment to modernization, which flows through the 4,500-strong SEC staff, greatly enhanced our ability and the ability of market participants more generally to both absorb and respond to the market and operational stresses caused by the COVID-19 pandemic.