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Enforcement
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.
Securities / Derivatives
Euroclear Bank, Japan Launch New Asset Class: ‘Origami Bonds’
By Editors | 17/12/2020
Japanese cities Kobe and Yokohama as well as Shizuoka Prefecture were the first three issuers to utilise the new Origami bond structure.
Securities / Derivatives
Fast Growing NBFI Sector Presents Financial Stability Risk: FSB
By Editors | 17/12/2020
NBFI that poses financial stability risk grew by 11.1% in 2019, at a faster pace than the average 7.1% annual growth rate from 2013-18.
Securities / Derivatives
FMA Issues Disclosure Framework for Green Investment Products
By Editors | 17/12/2020
The guidance sets out the type of disclosure the FMA expects from issuers of green bonds and other ‘responsible’ investment products.
Securities / Derivatives
Malaysia to Lift Short Selling Ban, Intraday Ban to Remain
By Editors | 17/12/2020
The dynamic and static price limits and revised circuit breaker mechanism implemented in July will be extended. Margin financing flexibilities for brokers will remain in place.
AML / KYC
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.
Enforcement
CSRC Suspends Credit Rating Agency, Orders Improvements
By Editors | 16/12/2020
The rating agency has been asked to carry out a comprehensive rectification programme, strengthen internal controls, and improve the quality of its ratings.
AML / KYC
ANNA Announces Expansion of ISIN-to-LEI Mapping Initiative
By Editors | 16/12/2020
The linking of ISINs and LEIs effectively links issuers to the issuance of securities, thereby improving transparency and aiding risk and exposure management.
Securities / Derivatives
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.
Securities / Derivatives
PBOC to Improve Supervision Over Bond Rating Agencies
By Editors | 16/12/2020
PBOC vice president Pan Gongsheng said the development of China’s bond market was being hindered by false high ratings and insufficient discrimination among issuers’ credit risk.
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