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  • Only-Apartments To Start Trading On MAB On 28 July - MAB, An Efficient Expansion Mechanism For Companies

    Date 23/07/2014

    The Admissions Committee of the Mercado Alternativo Bursátil (MAB) has submitted to the Board of Directors a favourable report on Only-apartments, stating that the company is eligible for admission to the market’s growth companies segment following a thorough review of all the information presented by the company. The final approval of MAB’s Board of Directors is required before the shares of the company can be admitted for trading, next Monday, 28th July.

  • Italian Corporate Governance Committee: New Entries, Confirmation Of The Chairman And Vice-Chairman - Amendments To The Corporate Governance Code

    Date 23/07/2014

    In a meeting held on July 14, 2014 at Borsa Italiana’s headquarters, the Italian Corporate Governance Committee confirmed Gabriele Galateri di Genola, Chairman of Assicurazioni Generali, and Giordano Lombardo, Chairman of Assogestioni, respectively, as Chairman and Vice-chairman of the Committee.

  • Statement At Open Meeting Regarding Money Market Fund Reform - SEC Commissioner Michael S. Piwowar, Washington, D.C., July 23, 2014

    Date 23/07/2014

    Thank you, Chair White.

    The money market fund reforms before us today address many complex issues, and I want to join my fellow commissioners in thanking the rulemaking team for all of their hard work and dedication.  They spent countless hours, including many late nights and weekends over the past several months, working through the issues, reviewing numerous detailed comment letters, and formulating their three recommendations for our consideration today.  As to the first recommendation, while I support the adoption of all the amendments to the disclosure, reporting, and stress testing requirements, I am not able to support the adoption of the so-called combination approach which would require institutional prime and tax‑exempt money market funds to price and transact at a floating net asset value (NAV) calculated to the fourth decimal place (nearest basis point) and also would require liquidity fees and discretionary redemption gates.  As to the second recommendation, I support the issuance of a notice of the proposed order to allow broker‑dealers to continue to provide money market fund shareholders transaction information on a monthly basis.  As to the third recommendation, I am pleased to support the re-proposed amendments to replace references to credit rating in the money market fund rule, modify disclosures of credit ratings in Form N-MFP, and the proposed amendments to eliminate an exclusion in the money market fund rule’s issuer diversification requirement.

  • Fact Sheet: US Treasury Guidance On Accounting For Gains And Losses In Certain Money Market Funds

    Date 23/07/2014

    Today, the Securities and Exchange Commission (SEC) voted to require certain money market funds (MMFs) to price shares in a manner that more accurately reflects the market value of the funds’ underlying portfolios.  These particular MMFs will no longer be able to utilize the special exemptions that currently allow them to maintain a stable net asset value (NAV), and instead the share price will float, so the funds will be known as “floating-NAV” MMFs.  If a shareholder frequently purchases and redeems shares (as is the case where the fund is used as a “sweep arrangement”), the shareholder may experience a high volume of small gains and losses.  Tax compliance might be difficult and burdensome if these taxpayers had to ascertain the cost basis and gain or loss for each transaction. 

  • Statement At SEC Open Meeting On Money Market Fund Reform, SEC Chair Mary Jo White, Washington, D.C., July 23, 2014

    Date 23/07/2014

    Good morning, everyone. This is an open meeting of the Securities and Exchange Commission on July 23, 2014.

    The Commission will today consider three recommendations of the staff, all related to money market funds. We will discuss all of these items together and then will vote on each of the three action items separately following our discussion. The first is a recommendation to adopt final rules and the other two are proposals, and I look forward to the staff presentation on all three.

  • DCCC Completes First Physical Delivery Of Plastics Futures Contract - 200 Tonnes Of Polypropylene Delivered On 40 Contracts

    Date 23/07/2014

    The Dubai Commodities Clearing Corporation (DCCC), the central counter-party (CCP) service provider, wholly owned by the Dubai Gold and Commodities Exchange (DGCX), has successfully completed its first physical delivery against the region’s first plastics futures contract.

  • Eze Software Launches New AIFMD Reporting Solution - Helps Fund Managers Simplify The Reporting Process For AIFMD

    Date 23/07/2014

    Eze Software Group, a premier provider of global investment technology, today announced the expansion of Regulatory Filings Manager to support Alternative Investment Fund Managers Directive (AIFMD) Annex IV filings. Clients can now leverage the robust functionality of this enterprise reporting solution to generate necessary reports in accordance with the compliance deadlines of AIFMD.

  • EBA Issues Opinion On A Structural Measure Impacting Limits To Intra-Group Large Exposures Notified By France

    Date 23/07/2014

    The European Banking Authority (EBA) published its Opinion on a draft structural measure of banking separation impacting the limits to intra-group large exposures that France intends to implement at national level. The EBA Opinion assessed the measures laid down in the French legal framework and found that such measure is consistent with the general principles governing the EU internal market.

  • Trading Technologies Appoints Robbie McDonnell EVP Global Sales

    Date 23/07/2014

    Trading Technologies International, Inc. (TT), a provider of high-performance professional trading software, today announced the appointment of Robbie McDonnell to EVP Global Sales from VP/Managing Director of Asia/Pacific. McDonnell will relocate from Sydney to TT’s headquarters in Chicago, where he will report directly to CEO Rick Lane and be responsible for leading TT’s worldwide sales operation.

  • Council Of The European Union Adopts New Rules On Investment Funds

    Date 23/07/2014

    The Council today adopted a directive amending EU rules on investment funds as concerns depository functions, remuneration policies and sanctions (PE-CONS 75/14 +  11728/14 +  ADD 1).