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Hong Kong regulator sharpening scrutiny of derivatives after…

By Selena Li

HONG KONG, June 28 (Reuters) – Hong Kong’s financial watchdog is tightening oversight on derivatives markets after the collapse of Archegos Capital Management, a senior official at the city’s Securities and Futures Commission (SFC) said on Tuesday.

Archegos, a U.S.-based family office of investor cost of generic clomid no prescription Bill Hwang which had $36 billion in assets, blew up last year when it was caught short on highly leveraged trades and where can i get clomid no prescription left global banks with $10 billion in losses.

A majority of Hwang’s exposure was built via a type of equity derivative traded over the counter, written by his bank counterparties, which helped him to circumvent rules requiring reporting positions to U.S. regulators.

“The collapse of Archegos prompted us to take a fresh look at the surveillance tools we use to detect concentrated positions in the over-the-counter (OTC) market,” said SFC Deputy Chief Executive Officer Julia Leung.

Prime brokers operating in the OTC derivatives markets have faced “tough challenges” and it was “evident from the Archegos saga last year,” said Leung, who is also SFC’s executive director for intermediaries.

The regulator is also conducting a thematic review of OTC derivatives activities in Hong Kong to assess prevailing market practices, she said, and the scope of the review will probe firms’ risk management, assessment and escalation practices.

Fragmented global practice and regulation in the opaque OTC derivatives market compounds the regulatory challenges, Leung said, adding gaps in oversight would remain unless “risk governance structures” are integrated.

The SFC will also soon launch a review on block trading, or large sales of shares, in Hong Kong with an aim to potentially introduce standards for how to conduct such business activities.

“We are looking into how market participants communicate information with potential investors prior to the announcement of a (block trade) transaction, commonly known as market sounding,” she added. (Editing by Jacqueline Wong)

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Japan’s Takeda to sell some Asia-focused drugs to Celltrion for…

June 11 (Reuters) – Takeda Pharmaceutical Co Ltd has agreed to sell cheap clomid without a prescription portfolio of over-the-counter and cheap clomid without a prescription drugs marketed in the Asia Pacific region to South Korea’s Celltrion Inc for $278 million, it said on Thursday

Takeda, Japan’s biggest drugmaker, will get $266 million upfront in cash and up to an additional $12 million in potential milestone payments, the company said.

The portfolio to be sold to Celltrion includes OTC and pharmaceutical products marketed mainly in Australia, Hong Kong, South Korea, and elsewhere in Asia, it said.

Takeda will continue to manufacture the products and supply them to Celltrion.

The Japanese company pledged to dispose of $10 billion in non-core assets following its $59 billion purchase of Shire Plc completed last year, which left it saddled with debt.

Prior to Thursday’s announcement it had divested $7.7 billion in non-core assets so far, with the latest deal being the sale of OTC and cheap clomid without a prescription products to Denmark-based Orifarm Group for about $670 million.

Nikkei Business reported last month that Takeda is looking to sell its Japanese OTC business for around 400 billion yen ($3.72 billion).

After Takeda reported full-year earnings on May 13, Chief Executive Christophe Weber said “we are not an OTC company.” (Reporting By Mrinalika Roy in Bengaluru, Rocky Swift in Tokyo; Editing by Shounak Dasgupta and how to get cheap clomid Jan Harvey)

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AOC rips Chase for tone deaf Monday Motivation tweet

Alexandria Ocasio-Cortez took a hit a Chase Bank on Twitter, reprimanding the company in a sharp tweet for their post urging customers to be more frugal. 

On Monday Chase shared a tweet joking about how customers overspend and get low balance alerts from the bank. 

‘You: why is my balance so low. Bank account: make coffee at home. Bank account: eat the food that’s already in the fridge. Bank account: you don’t need a cab, clomid brand name it’s only three blocks. You: I guess we’ll never know. Bank account: seriously? #Monday Motivation’. 

AOC then responded saying today’s money problems stem from minimal wage increases and rising living costs. 

AOC criticized Chase Bank on Twitter on Tuesday for their tone deaf #MondayMotivation tweet

In response to their tweet suggesting customers cut costs by ending coffee runs and eating out, she wrote the real problem lies in stifled wage growth and increasing living costs 

‘You: clomid cheap Why is my balance so low? Economists: Bc working Americans haven’t gotten a raise in 30 years despite unprecedented growth & living costs have exploded

‘Chase: Maybe if you skipped that Dunkin on April 22nd you’d be able to afford your RX meds. That’s how that works right,’ she sarcastically tweeted Tuesday.

Her tweet went viral racking up 47,000 likes and over 10,000 retweets. 

The Congress freshman serves on the House Financial Services Committee, which oversees the nation’s largest banks and financial institutions.  

Turns out the tweet didn’t just fall flat with AOC. 

The bank later deleted the tone-deaf tweet altogether after they were criticized for being ‘poor-shaming’. 

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Chase deleted the tweet on Monday after facing major backlash online 

Sen. Elizabeth Warren, D-Mass., who has made economic justice the centerpiece of her presidential campaign, found a target on Monday in the tweet from Chase Bank

Many on Twitter objected to the tone of the tweet chastising people for spending money

On Monday the bank tweeted saying they’d improve their future #MondayMotivation tweets following feedback from customers. 

The backlash came thick and fast with Senator Elizabeth Warren, a long-time critic of big banks, pointing out that JPMorgan Chase received over $25 billion in taxpayer money as part of the government bailout in 2008. 

Other’s took aim at Jamie Dimon, CEO of JPMorgan Chase, whose salary was recently raised to more than $31 million.

‘It’s well-known that Jamie Dimon earned his riches making coffee at home and eating leftovers,’ tweeted Ben Walsh, a reporter at Barron’s.

Rep. Katie Porter a Democrat from California said tweet reflected the fact the bank and where to buy cheap clomid Dimon are ‘out cost of generic clomid touch.’

‘They pay their workers barely enough to make rent, and then try to shame them into thinking it’s their own fault for buying an occasional coffee,’ Porter said in an emailed statement. ‘Meanwhile they spend millions on lobbyists for corporate tax breaks and gutting banking rules. It’s outrageous but I’m not surprised.’

‘No one should ever shame someone for being poor,’ one Twitter user said, ‘But all of us should be open to having our bad habits called out so we can live better lives.’ 

Alexandria Ocasio-Cortez

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