News Centre

ASIC Consults On Relief For Companies Planning An Initial Public Offering

Date 24/02/2020

ASIC is seeking feedback on proposals to grant conditional relief for voluntary escrow arrangements and pre-prospectus communications in connection with an initial public offer (IPO).  

Shenzhen Stock Exchange Weekly Bulletin 24 February, 2020 (Issue 1)

Date 24/02/2020

Shenzhen Stock Exchange is happy to offer SZSE Market Bulletin service to friends from overseas markets who are taking a deep look at capital market’s development in China. The weekly information feed focuses on reforms and opening-up events in China’s capital market. The SZSE International Services Team will as always stand ready to respond to inquiries about market cooperation and access by international investors. The SZSE hope to have your continuous support to help improve its services. 

IMF Managing Director Urges Global Cooperation For Global Challenges

Date 23/02/2020

Ms. Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), issued the following statement today at the conclusion of the Group of 20 (G20) meeting of Finance Ministers and Central Bank Governors in Riyadh, Saudi Arabia: 

Remarks By IMF Managing Director Kristalina Georgieva To G20 On Economic Impact Of COVID-19

Date 22/02/2020

Today in Riyadh, Ms. Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), made the following statement at the G20 Finance Ministers and Central Bank Governors Meeting:

"In January, we　projected　global growth to strengthen from 2.9 percent　last year　to 3.3 percent this year.　Since then,　COVID-19—a global health emergency—has disrupted activity in China.　And let me say here that my deepest sympathies　go to the people in China and other affected countries.

US Department Of Justice: Wells Fargo Agrees To Pay $3 Billion To Resolve Criminal And Civil Investigations Into Sales Practices Involving The Opening Of Millions Of Accounts Without Customer Authorization - $3 Billion Payment Result Of Deferred Prosecution Agreement In Criminal Matter, Settlement Of Civil Claims Under FIRREA And Resolution Of SEC Proceedings

Date 21/02/2020

Wells Fargo & Company and its subsidiary, Wells Fargo Bank, N.A., have agreed to pay $3 billion to resolve their potential criminal and civil liability stemming from a practice between 2002 and 2016 of pressuring employees to meet unrealistic sales goals that led thousands of employees to provide millions of accounts or products to customers under false pretenses or without consent, often by creating false records or misusing customers’ identities, the Department of Justice announced today. 

Statement From Mike Bloomberg On Non-Disclosure Agreements

Date 21/02/2020

I’ve had the company go back over its record and they’ve identified 3 NDAs that we signed over the past 30-plus years with women to address complaints about comments they said I had made. If any of them want to be released from their NDA so that they can talk about those allegations, they should contact the company and they’ll be given a release. I’ve done a lot of reflecting on this issue over the past few days and I’ve decided that for as long as I’m running the company, we won’t offer confidentiality agreements to resolve claims of sexual harassment or misconduct going forward.

SEC: Wells Fargo To Pay $500 Million For Misleading Investors About The Success Of Its Largest Business Unit - Payment Will Be Distributed To Harmed Investors

Date 21/02/2020

The Securities and Exchange Commission today charged California-based Wells Fargo & Co. for misleading investors about the success of its core business strategy at a time when it was opening fake accounts for unknowing customers and selling unnecessary products that went unused. Wells Fargo has agreed to pay $500 million to settle the charges, which will be returned to investors. The $500 million payment is part of a combined $3 billion settlement with the SEC and the Department of Justice.

CFTC Wins Forex Fraud Trial On Damages And Obtains Monetary Judgment Of More Than $22.6 Million - Court Releases Pallet Of Foreign Currency Valued At $2.5M To CFTC

Date 21/02/2020

The Commodity Futures Trading Commission today announced that following a bench trial the U.S. District Court for the Middle District of Alabama entered a final judgment against defendants Husam Tayeh of Illinois and his companies, Dinar Corp., Inc. and My Monex, Inc., both Nevada corporations. The court’s ruling orders the defendants to pay more than $22.6 million in disgorgement and civil monetary penalties in connection with Tayeh’s fraudulent foreign currency (forex) scheme. The court previously found the defendants liable for violations of the Commodity Exchange Act, including fraud.

SIFMA Statement On Massachusetts Fiduciary Rule

Date 21/02/2020

SIFMA today issued the following statement from Kenneth E. Bentsen, Jr., SIFMA president and CEO on a final rule issued in Massachusetts to create a state-specific fiduciary standard for broker-dealers and their representatives:

“We look forward to reviewing the rule with particular attention on whether it is consistent with existing federal fiduciary and best interest standards to which our members are subject, or whether it may conflict in ways – whether intended or unintended – that would impede our members from best serving their retail clients.”

CFTC Commitments Of Traders Update

Date 21/02/2020

The current reports for the week of February 18, 2020 are now available.