MAS Announces Key Initiatives to Support SORA Adoption
MAS, 5 Aug 2020
The Monetary Authority of Singapore (MAS) today announced
several initiatives to support the adoption of the Singapore Overnight Rate
Average (SORA) [1] , which is administered by MAS. Given SORA’s growing
importance as a key interest rate benchmark in SGD financial markets, these
initiatives aim to catalyse greater activity in SORA markets, safeguard the
benchmark’s integrity and enhance market confidence in SORA. They complement
the industry-led transition roadmap, set out by the Steering Committee for SOR
Transition to SORA (SC-STS), to develop vibrant and robust SORA markets.
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Indonesian tycoon Kris Wiluan faces 112 charges of
alleged false trading, market rigging of Singapore-listed KS Energy shares
Straits Times, 5 Aug 2020
Indonesian tycoon and chief executive of offshore and marine
company KS Energy Kris Taenar Wiluan was slapped on Wednesday morning (Aug 5)
with 112 charges in relation to violations of Section 197 of the Securities and
Futures Act, which deals with false trading and market-rigging transactions.
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SEC Proposes to Improve the Retail Investor Experience
through Modernized Fund Shareholder Reports and Disclosures
SEC, 5 Aug 2020
The Securities and Exchange Commission today proposed
comprehensive modifications to the mutual fund and exchange-traded fund
disclosure framework to better serve the needs of retail investors. The
proposed disclosure framework would feature concise and visually engaging
shareholder reports that would highlight information that is particularly
important for retail investors to assess and monitor their fund investments.
The proposal is a central component of the Commission’s investor experience
initiative and responds to comments the Commission received in response to a
2018 request for comment on retail investors’ experience with fund disclosure.
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SEC Charges Affiliated Advisers for Misrepresentations
About Payment for Order Flow Arrangements
SEC, 5 Aug 2020
The Securities and Exchange Commission today filed settled
charges against affiliated registered investment advisers WBI Investments Inc.
and Millington Securities Inc. for making material misrepresentations to
clients about compensation Millington received in an institutional payment for
order flow arrangement for routing client orders to certain brokerage firms for
execution. As part of the settlement,
WBI and Millington agreed to pay a combined total of $1 million in penalties.
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