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Structural Regulation
NYSE Gets SEC Green Lights to Allow Direct Listings
By Editors | 29/12/2020
Companies will be able to directly sell shares in an auction without a traditional underwriter, enabling investors to participate in new listings more readily.
Anti-Money Laundering
UPDATED – FinCEN Proposes Reporting, Recordkeeping Rules for Crypto
By Editors | 23/12/2020
Under the proposed rule, FIs will have to keep records of customers’ crypto transactions and counterparties, and whether they are using unhosted wallets.
Cryptocurrency
UPDATED: US SEC Files Lawsuit Against Ripple, Top Execs
By Editors | 22/12/2020
The lawsuit will allege that Ripple, its CEO and its Co-founder sold unlicensed securities that should be registered with the SEC.
Supervision & Enforcement
US SEC Penalises Robinhood $65m for Misleading Customers
By Sanday Chongo Kabange | 21/12/2020
The SEC said Robinhood misled customers into believing trading was commission free, while it executed customers’ orders at inferior trade prices costing them $34mn.
Cybersecurity
Philippine SEC to Mandate New Cybersecurity Rules for Capital Markets
By Editors | 20/12/2020
Regulated entities will have to create a separate Information Security Group and appoint a Chief Information Security Officer.
Trading & Investment
US Treasury Labels Vietnam, Switzerland as Currency Manipulators
By Editors | 17/12/2020
Taiwan, Thailand, and India have been added to Treasury’s monitoring list. Singapore intervened in the foreign exchange market in a “sustained, asymmetric manner”.
Fraud, Scams & Cybercrime
US SEC Settles Luckin Coffee Fraud Charges for $180m
By Editors | 17/12/2020
Luckin materially misstated its revenue, expenses, and net operating loss to falsely appear to achieve rapid growth and increased profitability, the SEC said.
Capital Adequacy
ECB Eases Restrictions on Bank Dividends, Share Buybacks
By Editors | 17/12/2020
A continued prudent approach remains necessary until 30 September 2021, given the persisting economic uncertainty, the ECB says.
PEPs & Sanctions
MSCI, Nasdaq Announce Removal of Chinese Companies from Indices
By Editors | 17/12/2020
MSCI, Nasdaq, S&P Dow Jones Indices and FTSE Russell have now all announced the removal of Chinese companies from their indexes to comply with last month’s executive order.
Sustainable Finance
SGX Launches New Sustainability Platform, Plans New ESG Products
By Manesh Samtani | 16/12/2020
SGX is bringing third-party ESG ratings to Singapore listed companies and will introduce new ESG-focused investment and risk management products.
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