Securities

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Hong Kong Scolds Banks Over Filing Shoddy IPO Applications

Hong Kong’s market watchdog and stock exchange admonished investment banks working on initial public offerings over filing shoddy and incomplete applications as first-time share sales surge in the Asian financial hub.

By Dave Sebastian and Kiuyan Wong

EU Financial Services Chief Eyes 2027 Start For Markets Reforms

The European Union hopes to begin implementing its ambitious market integration package by 2027, the bloc’s financial services commissioner said on Tuesday, giving the first guidance on the reforms’ timeline.

Europe Agrees to Drastic ESG Cuts After US Pressure Intensifies

The European Union reached a tentative deal to slash ESG requirements, as the bloc faces intensifying pressure from the US to rein in such rules amid ever-present trade tensions.

RBA’s Bullock Rules Out Further Rate Cuts, Sends Yields Soaring

Australia’s central bank Governor Michele Bullock called an end to a truncated easing cycle as policymakers gauge whether a pickup in inflation requires an extended interest-rate pause or a switch to tightening.

When Banks Need Capital, Synthetic Isn’t Good Enough: Editorial

The world’s banks are facing a big challenge: If more indebted companies follow auto dealer Tricolor Holdings and parts supplier First Brands Group into bankruptcy, lenders will need to be strong enough to survive the losses without damaging the broader economy.

Famed Bear Michael Burry Says He’s Bullish on Fannie and Freddie

Michael Burry, the money manager made famous in The Big Short, says he holds sizable positions in both Fannie Mae and Freddie Mac common stock and believes a re-listing of the US housing-finance giants is “nearly upon us.”

CFTC Deepens Crypto Push With Approval of Derivatives Collateral

The Commodity Futures Trading Commission will allow Bitcoin, Ether, and the dollar-pegged stablecoin USDC to be used as collateral for derivatives trades, a decision that pushes crypto deeper into the plumbing of US finance.

Bank CEOs Expected to Meet Senators on Crypto Market Structure

Bank of America Corp. chief executive officer Brian Moynihan, Citigroup Inc. CEO Jane Fraser and Wells Fargo & Co. CEO Charlie Scharf are scheduled to meet with senators in both parties on Thursday to discuss crypto market legislation that could soon come to a vote, according to a person familiar with the plans.

Ex-Slync CEO’s Wire Fraud Convictions, Sentence Upheld on Appeal

The co-founder and former CEO of Dallas-based logistics software startup Slync Inc. lost on Monday an appeal to undo convictions for misleading investors and misappropriating company funds.

CFTC Starts Pilot to Allow Bitcoin, ETH as Derivative Collateral

The Commodity Futures Trading Commission has launched a pilot program to allow the use of some digital assets, including Bitcoin, Ether and Circle’s USDC stablecoin, as collateral in derivatives markets, CFTC says in a statement, citing Acting Chairman Caroline D. Pham.