Discover and read the best of Twitter Threads about #securities

Most recents (24)

1/n
Grey area in securities regulation @SECGov has birthed a new phenomenon: bearer security tokens

Investors aren't aware of the risks associated w/ these assets so I wrote an article to share👇

Buyers Beware: Introducing Bearer Security Tokens👀

Link: blog.stomarket.com/buyers-beware-… Image
2/n
Security tokens are digital assets that comply w/ government securities regulations & automatically enforce rules, guidelines & parameters given a security

The @STOmarket secondary market capitalization has exploded more than 10x from last year to today & now sits @ $15B 🌴
3/n
#Realestate has been cementing its place in the security token industry as a beneficiary of the technology since 2018 and 2019.🏚

We have seen a multitude of real estate security token offerings. According to the STM Real Estate Intelligence Report, by @pgaff_digital
Read 86 tweets
1) I lived under the regime of the #SEC for 25 years as an investment banker. So what I am about to tell you is nothing new to me. Every member of the securities industry can corroborate and every securities lawyer with integrity can back these statements.
2) DISCLAIMER: Before you proceed, you must know that I am not a #securities lawyer, and this is not legal advice. In addition, these are only my own opinions.
3) The SEC designs rules that makes them "operatively contagious", like a virus. If Im sick and I touch you, you get sick. To understand what this means one first MUST understand the term #Gatekeeper as it is has been commonly used in the regulatory community.
Read 24 tweets
A severe tightening of Chinese firms is taking shape in the U.S: is #Washington planning to catch two birds 🐦 🐦 with one stone ❓
More than 80 U.S.-listed Chinese #stocks, including JD.com and #Pinduoduo, have been included in a new list of pre-delisting (i.e., forced exit from the exchange), with a total of 105 #Chinese stocks on the list.
Read 13 tweets
For the first time, Valereum's new Bridge Financial Platform will provide a tradeable #NFT on multiple crypto exchanges that will securely link specific fiat listed securities (shares) and listed debt of all kinds - from Alibaba to Zoom and from Chinese debt to US Treasuries.
Purchasers trading a Valereum launched Bridge NFT can be sure it is backed by the underlying security due to the use of the Mattereum Asset Passport. This is a world leading financial innovation to create 24/7/365 digital trading bridging the Crypto world to the fiat world.
The NFT sector is projected to move around $800 billion over next 2 years!
#crypto #cryptocurrency #NFTs #blockchain #adoption #VLRM #NFTcommunity
Read 11 tweets
1/ The #PhysicalVersusPaper discussion and the effect on silver’s price can be a heated topic. Part of the last “#spaces” event we touched on various #derivative products constructed by BofA and JP Morgan.
2/ Expanding on this topic where #Silver (the actual metal) is used as a ploy to create publicly traded #investments, let’s look at 2 more traded #securities.
3/ Just like buying processed food, what is on the front of the box may not necessarily have anything to do with the actual ingredients listed on the back label. Remember to read the #nutritional facts in the prospectus before consuming.
Read 11 tweets
10 Predictions For Blockchain, Crypto Assets, DeFi, And NFTs For 2022 onwards! @ValereumPLC @FrontierFinance
1. Bitcoin price reaches $100,000 USD & the crypto asset market grows in breadth and depth
2. Ethereum undergoes upgrade & remains the dominant smart contract platform
3. #Crypto investments become more sustainable
Issuers of #ETPs, #crypto #exchanges, mining companies, & financial institutions are interested in offering #green products & services to their customers
4. #Web3 infrastructure paves the way for the decentralization of the internet
5. #NFTs and #blockchain-based gaming become a source of income
It remains exciting to wait for the dawn of the multi-chain world. Once value transfers are seamless across different crypto-universes, this could spur a new wave of adoption, and the NFT and blockchain-based gaming
Read 20 tweets
New tax year ONLY means more new money & hopefully a buoyant April / May! Q2 should finally see approvals by #VLRM of #Juno, #GSX deals and open the gates to lots of game changing blockbuster news to see the current trading range blown out of the waters and start attacking ATHs!
For the first time, Valereum's new Bridge Financial Platform will provide a tradeable NFT on multiple crypto exchanges that will securely link specific fiat listed securities (shares) and listed debt of all kinds!
#securities #blockchain #NFTs
@RPoulden
Purchasers trading a Valereum launched Bridge NFT can be sure it is backed by the underlying security due to the use of the Mattereum Asset Passport. This is a world leading financial innovation to create 24/7/365 digital trading bridging the Crypto world to the fiat world.
#ETH
Read 9 tweets
I'd recommend everyone listen to this. Not directly related to #VLRM in terms of the #GSX, but in terms of the 20% option on GSX group! Very exciting indeed! this is very exciting.

If you listen to some of the concepts talked about linking different trading groups together such as FIAT, #Crypto, #Metals #Carbon etc then GSX can do ALL of that.
The story is unfolding nicely, becoming more clearer with each passing week about how this deal came about now and the option on both companies, essentially this is Patrick's vision from his previous works but GSX have the technology to make it happen.
Read 9 tweets
Until now, the #GSX has been a listing platform for big Bonds. But they have all the right licences that a Tier-1 European Exchange needs to create a Global exchange - just like the #LSE & #NYSE. But the OLD #GSX didn’t focus on using the full capacity of the licences they have.
The #GSX will be globally disruptive exchange in the not so distant future, being central to #Gibraltars global strategy not just for crypto, but importantly for normal global listed equity, debt and derivatives. Just watch this space. @keremkaradagcom @Exchange_Invest @Wolfiez
With @FrontierFinance Pioneer & Exchange Builder who brings the experience, skill and the vision. Alongside the business acumen of @RPoulden and @leashless, Founder & CEO of Mattereum. Leading figure in blockchain space, coordinated the release of the blockchain platform #ETH
Read 24 tweets
🔎𝗛𝗼𝘄 𝗺𝘂𝗰𝗵 𝘁𝗮𝘅 𝗱𝗼 𝘆𝗼𝘂 𝗽𝗮𝘆 𝗼𝗻 𝗲𝗾𝘂𝗶𝘁𝘆 𝗶𝗻𝘃𝗲𝘀𝘁𝗺𝗲𝗻𝘁𝘀?

Here’s a look at what the various taxes are:

A thread(🧵)... (1/4)
𝗟𝗶𝘀𝘁𝗲𝗱 𝘀𝘁𝗼𝗰𝗸𝘀📈

#Securities transaction tax (STT)

⬇️

#Delivery: 0.1% (buyer and seller pay)

#Intraday: 0.025% (seller pay)

➡️ Tax on dividend: Slab rate

➡️ Short-term capital gains: 15.6%

➡️ Long-term capital gains: 0.025%

👇(2/4)
𝗘𝗾𝘂𝗶𝘁𝘆- 𝗼𝗿𝗶𝗲𝗻𝘁𝗲𝗱 𝗺𝘂𝘁𝘂𝗮𝗹 𝗳𝘂𝗻𝗱𝘀🪴

➡️ STT: 0.001%

➡️ #Tax on dividend: Slab rate

➡️ Short-term capital gains tax:15.6%

➡️ Long-term capital gains tax: 10.4%

👇(3/4)
Read 4 tweets
1/ For those who have been following my legal scholarship on #securities and #tokens e.g., papers.ssrn.com/sol3/papers.cf…), it is for exactly this moment that we have been doing this work.

The proposed rule amendments focus on “Communication Protocol Systems”.
2/ These are defined as “a system that offers protocols and the use of non-firm trading interest to bring together buyers and sellers of *securities*”. (My emphasis.)
3/ If most tokens themselves were to be considered “securities”, this would be exceedingly problematic, as @lex_node points out in his excellent piece here:

lexnode.substack.com/p/urgent-consi….
Read 7 tweets
🧵 A landmark civil court case in Chinese A share securities fraud just had a significant verdict ($385 million). The significance is not just in dollars.

Kangmei Pharm. (600518) accounting fraud 2016-1018, officially uncovered in 2019, unofficially by social media 2018. /1
It's first time, China Securities Investor Services Center (ISC) filed as plaintiff in representative of investors.

ISC, a non-profit financial institution and is under the direct administration of the China Securities Regulatory Commission (CSRC).

isc.com.cn/html/zxjs/

/2
Notice the murky status of non-profits. Its website ends with .com.cn, which for English readers may thought as for-profit companies.

China skeptics are right to be skeptical as ISC directly administered by CSRC (China's SEC), a govt entity.

On the ground China is complex /3
Read 10 tweets
It was 73 degrees and sunny in #JacksonHole, Wyoming, today; a perfect day for all those who were there….
Yet, there were no #monetary policy officials present at the traditional location of the @KansasCityFed’s late-summer #economic policy symposium, since they were conducting a “virtual symposium.”
That symposium provided #ChairPowell the opportunity to lay out a reasonably sunny perspective on the U.S. #economy, but also one that was not out of the woods yet, in terms of Covid variant risk and a maximum #employment target still to be achieved.
Read 10 tweets
There has been lots of talk about #uniswap front end interfaces blacklisting #tokens that might be #securities. This is not an attack on #DeFi or regulation of #DeFi specifically, but instead a logical example of how existing regulation applies to legally addressable entities /1
including those that facilitate the use of #decentralized systems- in this case, legally addressable interface providers. And this isn’t new. Quietly, many front end providers are also engaged in #sanctions compliance. While laws obviously apply to legally addressable actors, /2
this does not mean that regulation has applied or will be applied directly to protocol code, at least not yet. This is b/c code itself is not legally addressable. It has its own rule-set governing its environment, & law cannot change code, although law can act on people /3
Read 12 tweets
released on #github. here's the link: github.com/CommissionerPe…
3 most significant changes: mandatory semi-annual updates to the plan of development disclosure and a block explorer; exit report requirement with analysis by outside counsel explaining why the network is decentralized or functional, or an announcement that the tokens will
Read 4 tweets
Read this book at the time of #CAMS #IPO.
A brilliant read to know about the #growth trajectory of the #company & why it's only starting.

@YMehta_ @finthusiasts @nid_rockz @manurishiguptha @MadrasMobile @MarketScientist
@AnyBodyCanFly @ipo_mantra

Thread coming.👇 Image
Foreword by- Mr. Deepak Parekh, Chairman @HomeLoansByHDFC

He writes about India's #economy post #Liberalization & how #companies that have come up have one thing in common- #knowledge.

2/n
#CAMS began as a #software development & #computer education firm, moved to share registry services handling #IPO's, later became a Registrar & Transfer Agent (#RTA). It now also handles documentation requirements in #banking, #insurance & #microfinance.

3/n
Read 25 tweets
The world’s second-largest economy, #China, has recently launched an #antitrust investigation into Asia’s leading e-commerce company, #Alibaba, listed on the biggest #stock market in the world.
#eCommerce juggernaut seems to be in hot water over its affiliate company, better known as #Ant Group, as #Chinese antitrust regulators plan to review if it was in any way #monopolistic
Such a move by the #Chinese regulators is seen by some market commentators as a huge hit to #JackMa’s e-commerce and #fintech empire
Read 8 tweets
Did the Asian Financial Crisis (1997) had any influence in the 2008 crisis?
@GARP_Risk
No, Not really!

#SOX Compliance came after ENRON and WORLD COM Frauds and Financial Reporting Failures.

You cannot mix the two events.
Asian Financial Crisis came about as a result of Unsound Macroeconomic Policies, disrespect for stabilization, excessive price competition among trading nations, lack of Asset Liability Risk Management done at the Central Banks, monopolistic market structures,
Read 33 tweets
To protect the #interest of #investors & to enhance transparency @SEBI_India has revised much awaited disclosure norms pertaining to transactions in #debt & #money market #securities by #mutualfunds. @fifaindiaorg @bsindia
@OutlookMoney #SaarthiZarooriHai #PlanZarooriHai
W.e.f 1.10.2020 these disclosure details will be required in new format -

1. Name & type of security
2. Credit Ratings
3. Name of the rating agency
4. Maturity date
5. Settlement date
6. Interest accrued & yield
(2)
7. Information like rating of the security at the time of transaction, whether the security is listed, put/call option date, yield at which the security was traded, type of trade (inter scheme transfer/primary/secondary market, etc.)
(3)
Read 7 tweets
After a week that saw extraordinary policy moves from the @federalreserve in response to the #CoronaCrisis, the central bank has gone further and taken off its gloves for a bare-knuckled battle against the forces of #uncertainty and #deflation!
To support critical market functioning, the #FOMC dropped previously indicated limits and: “will purchase Treasury securities and agency [MBS] in the amounts needed to support smooth market functioning and effective transmission of monetary policy...”
Further, the #Fed has expanded the range of purchasable #securities to include agency commercial mortgaged-backed securities (#CMBS).
Read 8 tweets
The @BIS_org has dropped their 'Quarterly Review' bis.org/publ/qtrpdf/r_… for 2/3rds of it they have gone #CryptoNerd w. deep dives on #payments, #tokenization & Central Bank #DigitalCurrencies but it does hold plenty of other interesting #insights as well...some takeaways (1/11)
2/11 A look @ #PE, the state of #US public markets & murky #PrivateCredit dynamics..Co's increasingly avoiding the relative 'daylight' of public markets & #PE driving #IPOs as they take the #Exit..PE crew has been minting it in increasingly covenant lite private credit markets.. ImageImageImage
3/11 #VirusMarketWatch: Comparing front-load costs in key equity markets between Covid-19 & SARS.... Image
Read 11 tweets
During the weekend, #China put forward specific measures to further free up its financial sector. Under these measures: ✔️foreign credit rating agencies will be able to rate all bonds traded on local #securities markets;
✔️International financial institutions will be encouraged to participate more in #China’s asset management, pension management and currency brokerage sectors. Foreign #investors would be able to hold more than 25% in insurance asset management firms;
✔️The restriction of 30 years’ operating experience would be removed for foreign #insurance companies;
Read 5 tweets
Different types of private #firms have different appeals and demands, so different approaches are adopted to support them now. Local #governments, out of social #stability considerations, mainly channel their support towards large firms that are major #employment contributors.
#State-owned #asset platforms are more concerned about #profitability for fear of loss or reduction of state assets. #Securities companies which have a lot of #equity #pledge worry more about how to address #risks related to the pledges.
#Banks are more willing to support private #firms which not only run well but also have adequate #capital. These #entities all make rational choices, but in the long run, there are still rules and standards to be set. By Xiao Gang, former #CSRC Chairman.
Read 3 tweets
The Financial Stability Board (FSB) published a #Crypto-assets #regulators directory.
5 April 2019
The purpose: provide info on the relevant regulators&authorities in FSB #jurisdictions & international bodies dealing with crypto-asset issues, and the aspects they cover.
👉 fsb.org/2019/04/fsb-pu…

👉 Crypto-assets do not pose a material risk to global financial stability for now.
👉Vigilant monitoring is needed in light of the speed of market developments.
👉Broader policy issues:
1.#Consumer & #investor protection
2.Strong #market integrity #protocols
3. #AML & financing of terrorism (AML/CFT): #regulation, #supervision, implementation of international sanctions
4.#Tax evasion
5.Illegal #securities offerings #ICO
Read 6 tweets

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