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ICAS
August Newsletter - Issue 34/2021
Announcements
EBA
Publishes peer review on the prudential assessment of qualifying holdings
24 August 2021
The European Banking Authority (EBA) published its peer review on the prudential assessment of qualifying holdings, aiming at assessing competent authorities’ application of the Joint ESAs Guidelines on the prudential assessment of the acquisition of qualifying holdings. Overall, competent authorities have largely or fully applied the ESAs Guidelines, which have thus significantly contributed to the convergence of assessment practices of proposed acquisition or increase of qualifying holdings across the EU. For more information please press 
here.
Market News
Bloomberg
Brace for Powell Signaling Taper Is Near, Sparking Dollar Rally
27 August 2021
"Federal Reserve Chairman Jerome Powell is going to provide strong guidance that tapering will begin in 2021, lifting the dollar and stocks, if Bloomberg News’s MLIV strategists are right. The majority view is that Powell will deliver a clear outlook for winding down quantitative easing, when he delivers his Jackson Hole speech Friday. Some common themes among the MLIV team are that tapering will lift both Treasury yields and the currency. The strength of the economy will keep sending the S&P 500 to records." For more information please press 
here.
Bloomberg
China Tech Rally Fizzles After Report on Tighter IPO Rules
27 August 2021
"A rally in Chinese technology stocks evaporated in the afternoon after Dow Jones reported that new regulations will be proposed to block companies with large amounts of sensitive consumer data from floating shares in the U.S. The Hang Seng Tech Index closed 0.2% lower in Hong Kong after rising as much as 2% in the morning. The new rules target companies seeking foreign listing via units incorporated outside the country, Dow Jones reported, citing people familiar with the matter. Tech giant Alibaba Group Holding Ltd. fell 3.9%, Tencent Holdings Ltd. slid 1.1% and Meituan dropped 0.8%. The tech gauge still posted a 7.3% advance for the week, its best performance since Jan. 22." For more information please press 
here.
Reuters
U.S. corporate profits soar in second quarter; economic growth raised
26 August 2021
"U.S. corporate profits surged to a fresh record high in the second quarter, boosted by robust demand and higher prices, suggesting that an anticipated slowdown in economic growth this quarter because of soaring COVID-19 cases could be temporary. The jump in profits reported by the Commerce Department on Thursday was despite businesses facing increased costs owing to shortages of raw materials and labor. The resurgence in infections driven by the Delta variant of the coronavirus is chipping away demand for services like air travel and cruises, leading economists to cut their third-quarter growth estimates." For more information please press 
here.
Cryptocurrencies
Bloomberg
Victim of Biggest DeFi Hack Says All Funds Have Been Returned
26 August 2021
"PolyNetwork, the anonymously run cryptocurrency project that claimed it was the victim of what was likely the biggest ever theft in the bustling world of decentralized finance, said it has recovered all the funds related to the hack. The protocol, which lets people send various digital tokens across different blockchains, said in an email that it received the last $33.4 million of the $610 million lost during the Aug. 10 attack. Tether released the remaining amount, which the so-called stablecoin issuer had prevented from being moved by the unidentified hacker over the digital ledgers known as blockchains after the theft. " For more information please press 
here.
Regulatory Reporting Solutions
Treppides Regulatory Reporting offers extensive reporting solutions under EMIR, MIFID, CRD IV, FATCA, CRS, REMIT towards MiFID II / MiFIR and CRS in all EU/ESMA jurisdictions like Cyprus (CySEC) and UK (FCA) and soon will also comply with foreign jurisdictions such as ASIC DTR. 

Contact us directly at info@treppidesrr.com to discuss your tailor made solution.

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Treppides Advisers Ltd
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Malta

Finanz Audit Ltd
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Malta


Tel: +356 2010 8080
Fax: +356 2546 6103
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