Financial regulation

AQMetrics Releases Fund Liquidity Whitepaper

Wednesday, April 1, 2020 - 8:00am

LONDON, April 1, 2020 /PRNewswire/ -- AQMetrics, a leading global platform for risk and regulatory compliance, has today released its latest whitepaper,Fund Liquidity Risk Control: Emerging Risks and Regulation.

Key Points: 
  • LONDON, April 1, 2020 /PRNewswire/ -- AQMetrics, a leading global platform for risk and regulatory compliance, has today released its latest whitepaper,Fund Liquidity Risk Control: Emerging Risks and Regulation.
  • The study reveals the liquidity risks within buyside investment firms and examines the regulatory responses from ESMA, the FCA and the SEC.
  • "Now more than ever fund managers are acutely aware of their regulatory obligations to properly manage the liquidity of funds and to ensure investors are fairly treated at all times," said Geraldine Gibson, CEO and founder of AQMetrics.
  • AQMetrics is a leading RegTech and Risk SaaS company focused on delivering regulatory risk and compliance solutions for financial firms.

Takeda Adopts Executive Compensation Recoupment Policy

Wednesday, April 1, 2020 - 3:00am

Takeda Pharmaceutical Company Limited ( TOKYO:4502/NYSE:TAK ) (Takeda) today announced that its Board of Directors approved an executive compensation recoupment policy (clawback policy).

Key Points: 
  • Takeda Pharmaceutical Company Limited ( TOKYO:4502/NYSE:TAK ) (Takeda) today announced that its Board of Directors approved an executive compensation recoupment policy (clawback policy).
  • The adoption of the clawback policy is part of Takedas ongoing efforts to further strengthen its commitment to best-in-class corporate governance and is consistent with Takedas industry peers.
  • The clawback policy provides that in the event of a significant restatement of financial results or significant misconduct, the independent external members of Takedas Board of Directors may require Takeda to recoup incentive compensation.
  • Takeda focuses its R&D efforts on four therapeutic areas: Oncology, Rare Diseases, Neuroscience, and Gastroenterology (GI).

ESMA provides clarifications for best execution reports under MiFID II

Wednesday, April 1, 2020 - 12:04am

The European Securities and Markets Authority (ESMA), the EUs securities markets regulator, is issuing a Public Statement to clarify issues regarding the publication by execution venues and firms of the general best execution reports required under RTS 27 and 28 of MiFID II, in light of the COVID-19 pandemic.

Key Points: 
  • The European Securities and Markets Authority (ESMA), the EUs securities markets regulator, is issuing a Public Statement to clarify issues regarding the publication by execution venues and firms of the general best execution reports required under RTS 27 and 28 of MiFID II, in light of the COVID-19 pandemic.
  • ESMA and competent authorities are aware of difficulties encountered by execution venues and firms in preparing these reports due to the COVID-19 pandemic and the related actions taken by the Member States to prevent contagion.
  • 30 June 2020); and
    firms may only be able to publish the RTS 28 reports due by 30 April 2020 on or before 30 June 2020.
  • In view of the exceptional circumstances, ESMA encourages national competent authorities not to prioritise supervisory action against execution venues and firms in respect of the deadlines of the general best execution reports for the periods referred to above.

AML and KYC - Anti-Money Laundering & Know Your Customer Training (June 3-5, 2020) - ResearchAndMarkets.com

Tuesday, March 31, 2020 - 1:01pm

The "AML and KYC - Anti-Money Laundering & Know Your Customer Training" training has been added to ResearchAndMarkets.com's offering.

Key Points: 
  • The "AML and KYC - Anti-Money Laundering & Know Your Customer Training" training has been added to ResearchAndMarkets.com's offering.
  • Governments and financial markets throughout the world recognise Financial Crime as one of the greatest threats to the global financial services industry.
  • The FCA has increased its efforts to fight every aspect of financial crime: Money laundering, terrorist financing, market manipulation and data theft.
  • Explanation of the Proceeds of Crime Act and its role in combating financial crime:

Titan Medical Reports 2019 Financial Results

Tuesday, March 31, 2020 - 2:33am

Titan Medical Inc. (Titan or the Company) (TSX: TMD) (NASDAQ: TMDI), a medical device company focused on the design and development of a single-port robotic surgical system for application in minimally invasive surgery (MIS), announces financial results for the twelve months ended December 31, 2019.

Key Points: 
  • Titan Medical Inc. (Titan or the Company) (TSX: TMD) (NASDAQ: TMDI), a medical device company focused on the design and development of a single-port robotic surgical system for application in minimally invasive surgery (MIS), announces financial results for the twelve months ended December 31, 2019.
  • All financial results are prepared in accordance with International Financial Reporting Standards (IFRS) and are reported in U.S. dollars, unless otherwise stated.
  • The audited financial statements and managements discussion and analysis for the year ended December 31, 2019 can be viewed at www.sedar.com and at www.sec.gov .
  • David McNally, President and CEO of Titan Medical, said, We made progress during 2019 in advancing the development of our single-port robotic surgical system, including achieving some important milestones.

ESMA publishes draft regulatory technical standards for CCP colleges

Tuesday, March 31, 2020 - 12:03am

30 March 2020

Key Points: 
  • 30 March 2020

    Post Trading

    Press Releases

    Supervisory convergence

    The European Securities and Markets Authoritys (ESMA) has published its Final Report containing draft regulatory technical standards (RTS) for central counterparty (CCP) colleges under the European Markets Infrastructure Regulation (EMIR) 2.2.

  • The proposed amendments are limited in scope and concern the practical arrangements for the functioning of the college regarding:

    voting procedures;

    the procedures for setting the agenda of college meetings;

    review and evaluation of the arrangements, strategies, processes and mechanisms implemented by the CCP and the risks to which the CCP is exposed;

    the minimum timeframes for the assessment of the relevant documentation by the college members; and

    the modalities of communication between college members.

  • The draft RTS proposals amend theCommission Delegated Regulation (EU) No 876/2013 (RTS on colleges for central counterparties) and reflect the changes to Article 18(6) of EMIR (Regulation (EU) No 648/2012) introduced by EMIR 2.2 (Regulation (EU) No 2019/2099) which entered into force on 1 January 2020.
  • Next steps

    Following the endorsement of the draft RTS by the European Commission, the Commission Delegated Regulation will then be subject to the non-objection of the European Parliament and of the Council.

Enforcement Notice - Hearing - IIROC Begins Disciplinary Action Against Former St. Catharines Investment Advisor Dean Martin Jenkins

Monday, March 30, 2020 - 6:21pm

ST. CATHARINES, ON, March 30, 2020 /CNW/ -TheInvestment Industry Regulatory Organization of Canada (IIROC) will set a date for a disciplinary hearing in the matter of Dean Martin Jenkins.

Key Points: 
  • ST. CATHARINES, ON, March 30, 2020 /CNW/ -TheInvestment Industry Regulatory Organization of Canada (IIROC) will set a date for a disciplinary hearing in the matter of Dean Martin Jenkins.
  • IIROC sets high quality regulatory and investment industry standards, protects investors and strengthens market integrity while supporting healthy Canadian capital markets.
  • All information about disciplinary proceedings relating to current and former member firms is available in the Enforcement section of the IIROC website.
  • Information on how to make investment dealer, advisor or marketplace-related complaints is available by calling 1 877 442-4322.

DYNACOR REPORTS ITS 9TH CONSECUTIVE YEARLY PROFIT WITH A NET INCOME OF US$ 5.2 M IN 2019, AN 8% INCREASE

Monday, March 30, 2020 - 1:00pm

The financial results for 2019 reflect Dynacors ninth consecutive year of profits as the Corporation recorded a net income of $5.2 M ($0.13 or $0.17 CA per share), an increase of 8.3% compared to 2018.

Key Points: 
  • The financial results for 2019 reflect Dynacors ninth consecutive year of profits as the Corporation recorded a net income of $5.2 M ($0.13 or $0.17 CA per share), an increase of 8.3% compared to 2018.
  • During the last quarter of 2019, our production exceeded the daily available capacity of 300 tpd maintaining an average of 330 tpd.
  • (2) EBITDA: Earnings before interest, taxes and depreciation is a non-IFRS financial performance measure with no standard definition under IFRS.
  • It is therefore possible that this measure could not be comparable with a similar measure of another corporation.

China Yuchai International Announces Unaudited Fourth Quarter 2019 Financial Results

Monday, March 30, 2020 - 11:00am

SINGAPORE, March 30, 2020 /PRNewswire/ -- China Yuchai International Limited (NYSE: CYD) ("China Yuchai" or the "Company"), a leading automotive manufacturer and distributor of engines for on- and off-road applications in China through its main operating subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL"), announced today its unaudited consolidated financial results for the fourth quarter and the twelve months ended December31, 2019.The financial information presented herein for the fourth quarters and year 2019 and 2018 is reported using International Financial Reporting Standards ("IFRS") as issued by the International Accounting Standards Board.

Key Points: 
  • SINGAPORE, March 30, 2020 /PRNewswire/ -- China Yuchai International Limited (NYSE: CYD) ("China Yuchai" or the "Company"), a leading automotive manufacturer and distributor of engines for on- and off-road applications in China through its main operating subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL"), announced today its unaudited consolidated financial results for the fourth quarter and the twelve months ended December31, 2019.The financial information presented herein for the fourth quarters and year 2019 and 2018 is reported using International Financial Reporting Standards ("IFRS") as issued by the International Accounting Standards Board.
  • GYMCL's heavy-duty truck engine sales in the fourth quarter of 2019 increased by 49.8%.The CAAM bus market increased by 10.4% in the fourth quarter of 2019.
  • Gross margin was 19.5% in the fourth quarter of 2019 compared with 19.0% in the fourth quarter of 2018.
  • In the fourth quarter of 2019, total net profit attributable to China Yuchai's shareholders increased by 9.3% to RMB209.6million (US$30.0 million) from RMB191.8million in the fourth quarter of 2018.

MediPharm Labs Reports Fourth Quarter and Full Year 2019 Results

Monday, March 30, 2020 - 12:00pm

See Non-IFRS Measures section of this news release

Key Points: 
  • See Non-IFRS Measures section of this news release
    The cannabis market challenges experienced in the fourth quarter are expected to persist in the near-term.
  • Through the Companys wholesale, private and white label platform, MediPharm Labs formulates, processes, packages and distributes active pharmaceutical ingredients and advanced cannabinoid-based products to domestic and international markets.
  • As a global leader, MediPharm Labs has completed commercial exports to Australia and is nearing completion of its Australian extraction facility expected in 2019 with 75,000 KG of annual processing capacity.
  • Except as required by law, MediPharm Labs assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change.