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Shenzhen Stock Exchange Keeps Intensifying The Regulation On Environmental Disclosure, With Resolutions To Win The Pollution Control Battle

Date 25/04/2018

Recently, there have been successive events of environmental violations happened among listed companies. CCTV reported on April 17 that Shanxi Sanwei Group made seriously damages to the surrounding ecology with illegal dump and discharge of industrial residues and wastewater. On April 20, the Ministry of Ecological Environment imposed a circular on Jiangsu Huifeng Agrochemical Co., Ltd. (referred to as “Huifeng”) for its violations of environmental regulations. According to the circular, Huifeng has issues of illegal disposal, transfer and storage of hazardous wastes, long-term secrete discharge of high-concentration toxic and harmful wastewater, as well as irregular running of treatment facilities.
Securities Commission Malaysia: The AOB Sanctions Auditor For Poor Quality Audit Work

Date 25/04/2018

The Securities Commission Malaysia’s (SC) Audit Oversight Board (AOB) reprimanded and fined Tang Boon Hiap of CHI-LLTC a sum of RM225,000 for failure to comply with the International Standards on Auditing when auditing a public-listed company. Compliance with auditing standards when auditing the financial statements of a public-interest entity is a condition of registration for AOB registrants.
Shenzhen Stock Exchange Further Optimizes Regulatory Procedures And Continues To Run The Market Based On The Rule Of Law

Date 25/04/2018

SZSE upheld and implemented comprehensive strict regulation according to law in 2017, issuing 103 disciplinary decisions and taking self-regulatory measures for 2282 times. Meanwhile, SZSE was also standardizing the regulatory procedures, trying to safeguard substantive justice with procedural justice. With the Self-disciplinary Regulation Hearing Procedure and Hearing Review Committee Working Procedure amended and released recently, SZSE has improved the hearing and review procedures for frontline regulation, a further step taken to govern the market by rule of law.
Statement On Manufactured Credit Events By CFTC Divisions Of Clearing And Risk, Market Oversight, And Swap Dealer And Intermediary Oversight

Date 24/04/2018

The Commodity Futures Trading Commission (CFTC) Divisions of Clearing and Risk, Market Oversight, and Swap Dealer and Intermediary Oversight today issued the following statement regarding manufactured credit events in connection with credit default swaps (CDS):

"The CDS market functions based on the premise that firms referenced in CDS contracts seek to avoid defaults, and as a result, the instruments are priced based on the financial health of the reference entity. However, recent arrangements appear to involve intentional, or ‘manufactured,’ credit events that could call that premise into question. In a public statement dated April 11, 2018, the International Swaps and Derivatives Association’s (ISDA) board of directors criticized manufactured credit events, writing that they ‘could negatively impact the efficiency, reliability, and fairness of the overall CDS market,’ and ISDA’s board indicated that it advised its staff ‘to consult with market participants and advise the Board on whether...amendments to the ISDA Credit Derivatives Definitions should be considered’ to address manufactured credit events."
NYSE Group Consolidated Short Interest Report

Date 24/04/2018

NYSE today reported short interest as of the close of business on the settlement date of April 13, 2018.

FINRA Progress Report On FINRA360 Highlights Significant Changes - One-year Report Lays Out Changes Through The Organizational Review

Date 24/04/2018

The Financial Industry Regulatory Authority (FINRA) today released a comprehensive progress report summarizing the significant operational and regulatory changes FINRA has made in the first year of its ongoing FINRA360 organizational review.
Nasdaq Announces Mid-Month Open Short Interest Positions In Nasdaq Stocks As Of Settlement Date April 13, 2018

Date 24/04/2018

At the end of the settlement date of April 13, 2018, short interest in 2,332 Nasdaq Global Market^SM securities totaled 7,225,723,436 shares compared with 7,182,505,080 shares in 2,335 Global Market issues reported for the prior settlement date of March 29, 2018. The mid-April short interest represents 3.68 days average daily Nasdaq Global Market share volume for the reporting period, compared with 3.80 days for the prior reporting period.
Office Of The Comptroller Of The Currency: Cassandra Cuffee-Graves Named Deputy Comptroller For Human Capital

Date 24/04/2018

The Office of the Comptroller of the Currency (OCC) today announced the selection of Cassandra Cuffee-Graves to be the agency’s Deputy Comptroller for Human Capital, effective April 29, 2018.
CFTC Charges New York Resident Kevin Scott Antonovich With Commodity Pool Fraud

Date 24/04/2018

The Commodity Futures Trading Commission (CFTC) announced the filing of a civil enforcement action on April 23, 2018, in the U.S. District Court for the Eastern District of New York charging Defendant Kevin Scott Antonovich of Woodside, New York, with misappropriation of customer funds and fraudulent solicitation in connection with investments in a commodity pool. The CFTC Complaint also charges Antonovich with registration violations.
Challenges Around Derivatives Data Consistency, Aggregation And Access Continue To Hinder Effective Systemic Risk Monitoring And Reduction, According To New Dtcc White Paper - Eight Years Since Derivatives Trade Reporting Was First Introduced, DTCC’s Latest White Paper Assesses Progress Against G20 Goals And Proposes Recommendations To Further Improve The Global Reporting Framework

Date 24/04/2018

While significant progress has been made during the last eight years towards establishing a global reporting framework for over-the-counter (OTC) derivatives transactions, substantial work remains in the areas of data consistency, aggregation and access in order to be able to effectively monitor and reduce systemic risk, according to a white paper published today by The Depository Trust & Clearing Corporation (DTCC), the premier post-trade market infrastructure for the global financial services industry.