• Daily News Headlines – 31 Aug 2020

    Hong Kong-Mainland ETF cross-listing approved

    SFC, 28 Aug 2020

    The Securities and Futures Commission (SFC) today authorized two exchange-traded funds (ETFs) to be listed on the Stock Exchange of Hong Kong (SEHK) under a scheme which will facilitate cross-listing of ETFs between markets in Hong Kong and the Mainland.

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    ESMA Proposes to Further Postpone CSDR Settlement Discipline

    ESMA, 28 Aug 2020

    The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has today published a final report on draft regulatory technical standards (RTS) definitively postponing the date of entry into force of the Commission Delegated Regulation (EU) 2018/1229 (RTS on settlement discipline) until 1 February 2022.

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    SEC Charges Ponzi Scheme Targeting African Immigrants

    SEC, 28 Aug 2020

    According to the SEC’s complaint, Dennis Jali, John Frimpong, and Arley Johnson, directly and through their companies 1st Million LLC and The Smart Partners LLC, falsely told investors that their funds would be used by a team of skilled and licensed traders for foreign exchange and cryptocurrency trading, promising risk-free returns of between 6% and 42%. The complaint alleges that the defendants often targeted vulnerable African immigrants and exploited their common ancestry and religious affiliations.

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