Daily News Headlines

  • Daily News Headlines - 19 Jun 2020

    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.

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    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.

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    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.

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    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.

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    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.

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    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.

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