SFC publicly criticises CICC Financial Trading Limited and China International Capital Corporation Limited for breaches of Takeovers Code
SFC Press Release, 18 Jun 2020
The Securities and Futures Commission (SFC) has publicly
criticised CICC Financial Trading Limited (CICCFT) and China International
Capital Corporation Limited (CICCL) for breaches of the Code on Takeovers and
Mergers (Takeovers Code). CICCFT and CICCL dealt in the relevant securities of
Dalian Port and Maanshan Iron during the transactions but failed to make timely
disclosure of their dealings in relevant securities under Rule 22 of the
Takeovers Code.
Full Text: Click Here;
SCMP: Click Here
HKEX to Launch New Sustainable and Green Exchange
HKEX News, 18 Jun 2020
Sustainable and Green Exchange, ‘STAGE’ will promote the
visibility, transparency, and accessibility of sustainable and green finance
across asset class and product type. It
will provide investors with access to a comprehensive database of sustainable
and green investment options that are available on Hong Kong’s securities
markets. It will also act as a valuable
education and advocacy platform, promoting knowledge sharing and stakeholder
engagement in sustainable finance.
Full Text: Click Here;
SCMP: Click Here
ESMA Integrates the 2020 IFRS Taxonomy into ESEF RTS
ESMA News, 18 Jun 2020
The ESEF taxonomy is based on the IFRS Taxonomy. Therefore,
as IFRS Standards and taxonomy evolve, the ESEF RTS must also evolve to provide
preparers with the most relevant ESEF taxonomy for tagging IFRS consolidated
financial statements. This will promote
electronic reporting that is up to date with the applicable reporting
standards, facilitating implementation of the tagging requirements and ensuring
the highest comparability of filings for end-users at European and global
level.
Full Text: Click Here
FCA to make mini-bond marketing ban permanent
FCA News, 18 Jun 2020
The FCA introduced the ban without consultation in January
following concerns that speculative mini-bonds were being promoted to retail
investors who neither understood the risks involved, nor could afford the
potential financial losses.
Full Text: Click Here
Deutsche Bank to Pay Over $10 Million to Settle Two CFTC
Cases
CFTC News, 18 Jun 2020
The Commodity Futures Trading Commission today announced the
settlement of two enforcement matters involving Deutsche Bank. In the first
matter, Deutsche Bank AG (Deutsche Bank) resolved federal court charges
stemming from alleged violations of various swap data reporting and other
regulatory violations. In the second matter, the CFTC issued an administrative
order against Deutsche Bank Securities Inc. (DBSI), filing and settling charges
that two of DBSI’s traders engaged in spoofing. According to the order, DBSI
manually placed bids or offers on the Chicago Mercantile Exchange (CME) with
the intent to cancel those bids or offers before execution, an illegal practice
known as spoofing.
Full Text: Click Here
As online brokerages burgeon, MAS warns against
unlicensed ones
Business Times, 18 Jun 2020
NEW-TO-MARKET online brokerages tout lower or even zero
commissions for trading on their platforms, but investors should be aware of
risks for those not authorised or licensed by the authorities to operate in
Singapore.
Full Text: Click Here
