BEIJING, July 2, 2024 /PRNewswire/ — A report from People’s Daily: From July 2 to 6, Chinese President Xi Jinping will attend the 24th Meeting of the Council of Heads of State of the Shanghai Cooperation Organization (SCO) in Astana, and pay state visits to Kazakhstan and Tajikistan at the invitation of President Kassym-Jomart Tokayev of the Republic of Kazakhstan and President Emomali Rahmon of the Republic of Tajikistan.

Xi’s visit this time will inject new momentum into building an even closer SCO community with a shared future and opening a new chapter of China–Kazakhstan, China–Tajikistan cooperation. It will also contribute Chinese wisdom and strength to maintaining world peace and promoting common development.

Since its founding over 20 years ago, the SCO has withstood the test of the changing international landscape, and kept moving in the right direction of promoting solidarity, mutual trust, development and cooperation. It has set an example for building a new type of international relations and regional cooperation.

The Shanghai Spirit of mutual trust, mutual benefit, equality, consultation, respect for diversity of civilizations and pursuit of common development is the origin of the strong vitality of the SCO, as well as a guideline that the organization must follow in the long run.

The more fluid and turbulent the world is, the more important that SCO member states stay committed to the Shanghai Spirit, keep to the right direction, and safeguard common interests, respond to various challenges and uphold fairness and justice more effectively through making the SCO more substantive and stronger.

Advertisement

As a founding member, China always sees the SCO as a priority in its diplomacy. Since 2013, Xi has attended SCO summits for times and put forward a series of important initiatives and proposals, outlining a blueprint for the development and growth of the organization and charting the course for building an SCO community with a shared future.

During the upcoming SCO summit in Astana, Xi will engage in in-depth discussions with leaders of SCO member states on strengthening solidarity and cooperation under new circumstances. Together, they will consolidate the SCO’s role in ensuring security, establishing cooperation, forging friendship, and cementing constructive force, to build an even closer SCO community with a shared future, and inject more certainty and positive energy into world peace and development.

Bound together by mountains and rivers and common interests, China and Kazakhstan are good neighbors, good friends and good partners. Thanks to the personal guidance and efforts of leaders of the two countries, China had Kazakhstan forged a permanent comprehensive strategic partnership and, on that basis, decided to build a China–Kazakhstan community with a shared future, which have set the bar even higher, opened up new prospects and injected new impetus for bilateral relations.

The two countries’ ever-lasting friendship, high-level mutual trust, and commitment to sharing weal and woe together have come to define their bilateral relations. Together, they have actively advanced high-quality Belt and Road cooperation, achieving fruitful results in various fields that benefit the two peoples.

The cooperation between China and Kazakhstan has established a model of complementary advantages and win-win outcomes in the international community, injecting positive energy into the building of a new type of international relations and a community with a shared future for mankind.

Advertisement

Xi’s visit to Kazakhstan this time will further deepen political mutual trust, mutually beneficial cooperation, and cultural exchanges between the two countries, promoting the high-level development of bilateral relations.

China–Tajikistan relations enjoy deep historical roots, a solid political foundation, substantive cooperation and extensive public support. Under the strategic guidance of Xi and Tajik President Emomali Rahmon, China and Tajikistan established the comprehensive strategic partnership in the spirit of good-neighborliness and friendship. They agreed to, in line with the trend of the times, build a community for security, a community of development between China and Tajikistan, and, on that basis, a China–Tajikistan community with a shared future. This is a vivid example of how neighbors can and should get along by embracing mutual respect, equality and mutual benefit.

The two sides have achieved fruitful results in practical cooperation in various fields and have always firmly supported each other on issues concerning their core interests. Tajikistan was one of the first countries to support the Belt and Road Initiative and sign a Belt and Road cooperation agreement with China. China is ready to stand closely with Tajikistan and work together with it on the road to modernization, and create more benefits for both countries and their people.

The global trend of peace, development and win-win cooperation is unstoppable. The international community needs to conform to this trend and make the right choice. China is willing to work with regional countries to call for an equal and orderly multipolar world and a universally beneficial and inclusive economic globalization, build a community with a shared future for mankind and jointly create a better future.

View original content:https://www.prnewswire.co.uk/news-releases/conform-to-trend-of-times-promote-peace-development-302187383.html

Advertisement

SEBI has introduced a comprehensive set of regulations targeting the growing impact of finfluencers on India’s investment landscape.

According to MSN, these new rules are a direct response to concerns regarding potential biases and misleading advice from finfluencers, often operating on commission-based models.

Significantly, SEBI has implemented a fixed price mechanism for the delisting of frequently traded shares, alongside a streamlined framework specifically tailored for Investment and Holding Companies (IHCs). Additionally, the regulations introduce notable changes for exchanges and other market infrastructure institutions (MIIs), including the removal of financial penalties for managing directors and chief technology officers following technical failures.

Advertisement

The surge of finfluencers has been remarkable, leveraging their extensive reach among India’s vast retail investor base, particularly through platforms like YouTube, TikTok, and Instagram. Many originate from smaller cities and communicate in Hindi or regional languages, addressing the country’s low financial literacy rate of just 27%. Their influence surged during the Covid-19 pandemic, filling a gap in traditional financial education.

Often surpassing established brokerage firms in popularity, top finfluencers can earn between Rs 15 lakh to Rs 30 lakh per month. However, the sector’s accessibility has also heightened exposure to dubious actors and potentially harmful financial advice.

Under the new SEBI regulations, brokers and mutual funds are prohibited from engaging unregistered financial influencers for promotional activities. However, those involved in investor education remain exempt under strict adherence to SEBI’s conduct guidelines, which include restrictions on guaranteeing returns.

Alongside influencer-related measures, SEBI Chair Madhabi Puri Buch outlined revised criteria linking stocks to derivative products such as futures and options, expanding the number of eligible stocks for derivative trading slightly. Moreover, updated delisting rules enable companies to offer fixed share prices during delisting processes, mandating a minimum 15% premium above the floor price, thereby simplifying exit procedures from stock exchanges.

Source: fintech.global

Advertisement

The post SEBI cracks down on Finfluencers with new compliance rules appeared first on HIPTHER Alerts.

JERSEY CITY, N.J. and SYDNEY, July 1, 2024 /PRNewswire/ — Global investment and trading technology solutions provider ViewTrade Holding Corporation has launched in Australia in a bid to deliver enhanced global market access, reduce inefficiencies caused by legacy infrastructure, and create investment avenues for the $9 trillion of superannuation assets expected to amass by 2041.

ViewTrade has also calculated that its technology and operational solutions, particularly for crossborder investing, could bring efficiencies not currently available to the Australian wealth industry, creating savings of nearly USD $160 million annually given the scale of wealth under management.

Unlocking more efficient and broader access to global markets would also enable Australian investors to capitalise on new opportunities for diversification and returns.

ViewTrade therefore hopes to create significant value for Australia and its financial services ecosystem, which it sees as having quite an exceptional talent pool thanks to the significant complexity of the regulatory landscape.

Tony Petrilli, CEO of ViewTrade Holding Corporation, said: “Launching in Australia underscores ViewTrade’s dedication to empowering financial institutions and wealth management firms across the globe. But it is particularly exciting for us to launch into such a promising market as Australia, where we have incredible wealth management expertise and high potential for growth. We can’t wait to work with partners on the ground, given the sophistication and talent in the local market.“

Advertisement

As of year-end 2023, ViewTrade carried over USD $20 billion in assets under administration globally. In cross-border transactions, it also brokered 58.2 billion equity shares, USD $860.9 billion in equity orders, and 16.7 million option contracts between 2020 and 2023.

This makes ViewTrade one of the largest B2B-only, cross-border investment solution providers globally.

Its new Sydney-based regional HQ makes Australia the 30th country where ViewTrade provides its suite of solutions including cross-border and multi-asset investments, custody, and funding for broker-dealers, super funds, wealth advisors, and fintechs.

The new entity is now operating under the name ViewTrade International Australia (VTIA), and will be used to expand an already-significant APAC presence, with plans to also expand its existing presence in the Middle East.

VTIA is helmed by CEO Nigel Singh, whose 20 years’ experience within wealth management, capital markets, and investment technology includes establishing Morgan Stanley’s flagship Private Wealth Management (PWM) operation in Australia.

Advertisement

Singh is joined by Chief Operating Officer Carl Brazendale, a financial services veteran with 13 years’ experience at BNY Mellon’s Pershing division, and leadership roles at global fintech providers such as GBST and Broadridge. Former Morgan Stanley director and FinClear exec, Kerri Buggy VTIA’s the Operations Manager.

According to Singh, the immense opportunity lies in the ability of ViewTrade’s local team to work closely with Australian firms to create significant efficiencies through world-class technology and unparalleled global access, significantly reducing Time-to-Value (TTV) creation for clients looking to achieve their strategic and tactical goals.

Nigel Singh, CEO of ViewTrade International Australia, said: “The Australian market is ripe with potential, huge financial services and wealth sector, exceptional talent pool, and strong yet balanced regulatory landscape.

“I am excited to work closely with local Australian firms to deliver the same market-leading levels of innovation and efficiency that ViewTrade has delivered in other markets globally.

“Our local Australian expertise and strong belief in the value and potential of the Australian financial services industry as a whole will position us strongly to succeed from day one. We couldn’t be more excited to build bespoke solutions tailored to the strengths and needs of this critical market to help realise its enormous potential.“

Advertisement

Please contact Laura for any interview requests: ‪[email protected]

For media inquiries in the US, please contact: [email protected]

ViewTrade (www.viewtrade.com) is a global leader in investment and trading infrastructure solutions that power cross-border investing for financial services firms throughout the world. ViewTrade provides the technology, support, and brokerage services that business innovators need to launch or enhance retail investing experiences. For more than 20 years, ViewTrade has partnered with over 300 clients – from technology startups to large banks, brokers and advisors – to deliver innovative investment solutions and exceptional customer service.

This communication is not an offer to buy or sell securities and is not a recommendation regarding any investment or investment strategy by ViewTrade International Australia Pty Ltd (ACN 676 490 056). Any financial advice or information provided is general in nature and provided for illustrative purpose only and does not take into account any person’s personal objectives, financial situation or needs. Investing involves risks and past performance is no guarantee of future results. We recommend that before any person acts on any advice provided, they seek advice from a licensed and/or authorised financial adviser to determine whether the advice provided is appropriate to them taking into account the individual’s personal circumstances. ViewTrade International Australia Pty Ltd does not accept liability for errors or omissions in the contents of this communication.

Photo – https://mma.prnewswire.com/media/2452305/Carl_Brazendale_L_Kerry_Buggy_M_Nigel_Singh_R_ViewTrade.jpg
Logo – https://mma.prnewswire.com/media/1969091/4792037/VWT001_MasterLogo_2022_06_13_Logomark_Possibilities_Dark_Logo.jpg

Advertisement

View original content:https://www.prnewswire.co.uk/news-releases/viewtrade-launches-in-australia-to-deliver-enhanced-global-market-access-nearly-usd-160m-in-possible-savings-302187408.html