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BIS Latest Update May 2024: The Basel Committee At 50, The Finternet, And Revised Core Principles

Date 02/05/2024

Basel Committee at 50

Pablo Hernández de Cos discusses the strengths and achievements of the Basel Committee on its 50th anniversary and looks to future regulatory challenges

FSB: Industry Outreach On Liquidity Preparedness For Margin And Collateral Calls

Date 02/05/2024

Join the FSB’s industry outreach on liquidity preparedness for margin and collateral calls, which will be held virtually on Friday 31 May 13:00-15:00 (CEST).

Appital Insights Now Fully Integrated With FactSet Portware EMS

Date 02/05/2024

• Integration enables FactSet Portware buyside clients to access Appital Insights liquidity via their EMS
• New ‘Live Watchlist’ functionality allows buyside institutions to assess the viability of executing larger ADV orders without alerting the market

Hong Kong Securities And Futures Commission Commences Insider Dealing Prosecution Against Segantii Capital Management And Its Chief Investment Officer

Date 02/05/2024

The Securities and Futures Commission (SFC) has commenced criminal proceedings against Segantii Capital Management Limited (Segantii), its director and chief investment officer Mr Simon Sadler, and former trader Mr Daniel La Rocca for the offence of insider dealing in the shares of a company listed on the Stock Exchange of Hong Kong Limited prior to a block trade in June 2017.

Japan Financial Services Agency - "Cold Calling" - Investors Alert

Date 02/05/2024

1. Today, so-called "Cold Calling," a fraudulent practice aimed at soliciting investors, is conducted all over the world. "Cold-calling" is a practice where by an entity disguises itself as a brokerage firm or an asset management firm and approaches potential investors via non face-to-face channels, such as by phone, fax, and emails, in order to solicit investment in securities or financial products. Typically, a "cold caller" makes unsolicited calls to potential investors, cajoles them into deciding to purchase certain securities, and then, becomes unavailable for contact after the investor sends the money for that purchase. As a result, the investors cannot obtain the securities although they made the payment, and they also cannot get back the money they paid. Investors need to be more careful and vigilant, as cold callers have been using more varied and more sophisticated tactics. (For example, some cold callers execute transactions properly and make profits for investors at first. Then, they solicit bigger transaction and make the investors transfer the money for it. After that, the cold callers disappear.)

Changes To Board Members Of Monetary Authority Of Singapore

Date 02/05/2024

The Monetary Authority of Singapore (MAS) today announced the appointment of Mr Chee Hong Tat, Minister for Transport and Second Minister for Finance, to its Board of Directors. MAS also re-appointed five existing members to the MAS Board.

Greenwashing: A View From The Regulator - Keynote Speech By ASIC Chair Joe Longo At The RIAA Conference Australia, 2 May 2024

Date 02/05/2024

KEY POINTS

• While the shift to sustainable finance may constitute a once-in-a-generation transformation, the fundamental underlying principles of accuracy and transparency are not new.
• Combating greenwashing is critical to supporting trust in sustainable finance-related financial products and services.
• ASIC’s greenwashing interventions are founded on enforcing well-established legal obligations that prohibit misleading and deceptive conduct, and our focus is on entities that we consider carelessly give inaccurate or misleading statements.

“AI Day” Agenda Announced For May 2 CFTC Technology Advisory Committee Meeting

Date 01/05/2024

Commissioner Christy Goldsmith Romero, sponsor of the Commodity Futures Trading Commission’s Technology Advisory Committee (TAC), announced the agenda for “AI Day.” AI Day will be held at the CFTC’s Washington, D.C. headquarters on May 2, 2024, during a meeting of the TAC from 1:00 p.m. to 4:30 p.m. (EDT).  The public is invited to come in person or watch the meeting via live webcast at CFTC.gov.  This continues the TAC’s ongoing work to advise the Commission on the complex issues surrounding AI in financial services that are at the intersection of technology, law, and policy.

Federal Reserve Issues FOMC Statement

Date 01/05/2024

Recent indicators suggest that economic activity has continued to expand at a solid pace. Job gains have remained strong, and the unemployment rate has remained low. Inflation has eased over the past year but remains elevated. In recent months, there has been a lack of further progress toward the Committee's 2 percent inflation objective.

US Office Of The Comptroller Of The Currency: Acting Senior Deputy Comptroller And Chief Counsel Testifies On Bank Mergers

Date 01/05/2024

Acting Senior Deputy Comptroller and Chief Counsel Ted Dowd today testified on the Office of the Comptroller of the Currency’s (OCC) review and consideration of bank merger applications before the Subcommittee on Financial Institutions and Monetary Policy, Committee on Financial Services of the U.S. House of Representatives.