Latest news with #VCC
CTV News
29-07-2025
- General
- CTV News
Gas leak suspends SkyTrain service on Millenium Line in Burnaby, B.C.
An information board shows the SkyTrain not in service in Vancouver, B.C. THE CANADIAN PRESS/Ethan Cairns A gas leak has impacted SkyTrain service on the Millenium Line running through Burnaby Tuesday afternoon. According to a statement issued by TransLink just after 1 p.m., Millennium Line service is suspended between Sterling and Production Way stations. 'Trains will operate VCC to Sperling and Lafarge Lake to Production Way,' the statement said. Both the Canada and Expo Lines are unaffected by the leak. This is a developing story.
Business Wire
24-07-2025
- Automotive
- Business Wire
VicOne and Block Harbor Launch Global Vehicle Cybersecurity Competition to Equip and Inspire Next Generation of Experts in Automotive Defense
DETROIT--(BUSINESS WIRE)-- VicOne, an automotive cybersecurity solutions leader, and Block Harbor, a trusted automotive cybersecurity engineering company, today launched the Global Vehicle Cybersecurity Competition (VCC), to take place online Aug. 22-25 and Aug. 29-Sept. 1. Participants in the 'Capture the Flag'-style event will compete head-to-head in both offense and defense scenarios mimicking real-world attacks and countermeasures on modern connected vehicles and software-defined vehicles (SDVs). The overall VCC competition winner will be sponsored to attend Pwn2Own Automotive 2026, the world's largest zero-day vulnerability discovery contest focused on connected cars and software-defined vehicles (SDVs). Pwn2Own Automotive 2026 is scheduled for Jan. 21-23, 2026, at Automotive World in Tokyo. WHO: Individuals of all skill levels—from first-time players to seasoned professionals pursuing careers in automotive cybersecurity—to learn, upskill and contribute to building a safer future for connected vehicles and SDVs WHAT: Global VCC, powered by VicOne and Block Harbor WHEN: Aug. 22-25 and Aug. 29-Sept. 1, 2025 WHERE: Visit WHY: Sharpen skills and learn alongside a community of security enthusiasts, students and professionals. Earn Continuing Professional Education (CPE) credits. Compete for cash, tokens, titles and round-trip flight and three-night hotel stay to attend Pwn2Own Automotive 2026. HOW: Register online About Block Harbor Block Harbor was established in 2014 in direct response to the Jeep Hack – the moment the industry took notice to the risk of cyberattacks to vehicles. In launching with several of the Automakers, Suppliers, and Auditors that were quick to act in vehicle cybersecurity, Block Harbor has always operated at the forefront, solving new challenges and building new solutions alongside our customers. Block Harbor's platform, the Vehicle Security Engineering Cloud (VSEC), combined with Block Harbor's services from our Vehicle Security Operations team and our Vehicle Cybersecurity Labs team leads the industry with solutions that are tailor fit for the mobility ecosystem. Learn more at About VicOne With a vision to secure the vehicles of tomorrow, VicOne delivers a broad portfolio of cybersecurity software and services for the automotive industry. Purpose-built to address the rigorous needs of automotive manufacturers and suppliers, VicOne solutions are designed to secure and scale with the specialized demands of the modern vehicle. As a Trend Micro subsidiary, VicOne is powered by a solid foundation in cybersecurity drawn from Trend Micro's 30+ years in the industry, delivering unparalleled automotive protection and deep security insights that enable our customers to build secure as well as smart vehicles. For more information, visit
Singapore Law Watch
14-07-2025
- Business
- Singapore Law Watch
MAS scrutinises some VCC managers after review finds potential regulatory lapses
MAS scrutinises some VCC managers after review finds potential regulatory lapses Source: Business Times Article Date: 14 Jul 2025 Author: Tan Nai Lun The Monetary Authority of Singapore (MAS) says it is engaging with specific VCC managers to determine whether supervisory interventions or regulatory actions may be warranted. The Monetary Authority of Singapore (MAS) is looking more closely into certain variable capital companies (VCC) managers, after its review found potential lapses in regulatory compliance. Following its thematic review of VCCs and their managers in 2024, the central bank said it is engaging with specific managers to determine whether supervisory interventions or regulatory actions may be warranted. Despite the potential lapses, industry players noted that Singapore's fund management industry remains robust, with a majority of VCCs and their managers complying with regulatory requirements. VCCs are a corporate structure designed to house investment funds for a wide range of assets. In Singapore, they are managed by about 600 financial institutions, comprising MAS-regulated fund management companies and banks. It has become a popular vehicle among some family offices. A VCC allows for segregated funds to be created, where assets can be pooled together for private investments or individual sub-funds can be managed on behalf of each of their clients. MAS said the majority of these companies and their managers met key regulatory requirements: VCCs have to be used as collective investment schemes; and they will need to appoint a MAS-regulated manager, a director from the VCC manager, and an eligible financial institution. A VCC manager must also segregate its assets and maintain them with an independent custodian, as well as ensure anyone who conducts fund management for the company is a representative of the manager. VCCs also remain responsible for fulfilling their anti-money laundering obligations. MAS found that there were some of them that did not report custody arrangements, despite investing in certain types of assets that require them – such as listed equities and fixed-income instruments. Some had also appointed additional directors who are not directors or representatives of the VCC manager. Meanwhile, the central bank noted that some of these companies did not have substantive fund management activity. There were a few managers that were managing multiple VCCs that did not hold any assets or have any investors, despite having been incorporated for more than a year. Some of these companies also held illiquid assets on behalf of a single investor or a few connected investors, where these assets were previously owned by the investors. A routine survey Joel Shen, corporate partner at international law firm Withers, said the review is likely a routine survey, being conducted around five years after VCCs were first introduced to Singapore. 'It is about time MAS does some housekeeping, especially now that there is such a large number of VCCs in the market,' he said. According to the central bank, there were around 1,200 of these companies in Singapore as at Mar 31, 2025. Shen noted that this would mean the number of funds is a 'multiple of that number', since a VCC is essentially an umbrella of sub-funds, each with their own investment strategy and assets. He was 'quite encouraged by the findings that the vast majority of VCCs were compliant to regulations'. 'That speaks to Singapore's good reputation and high standards of regulation and governance,' he said. Urvi Guglani, who oversees growth and strategy at Silverdale Capital, said the review is a great step by MAS as it ensures that Singapore would not be caught infringing on the implementation of global corporate tax. This raises the level and perception of the Republic as a wealth centre, making it more attractive to big and long-term funds. 'Singapore is very well-reputed and perceived as a no-nonsense jurisdiction that has zero tolerance for shady deals,' she said. 'Removing (the) 'light-touch perception' will remove tourist fund managers and non-serious VCCs, leaving the field for professionally managed firms like us who have invested heavily in creating robust infrastructure to run VCC funds,' she added. Source: The Business Times © SPH Media Limited. Permission required for reproduction. Print
Business Times
13-07-2025
- Business
- Business Times
MAS scrutinises some VCC managers after review finds potential regulatory lapses
[SINGAPORE] The Monetary Authority of Singapore (MAS) is looking more closely into certain variable capital companies (VCC) managers, after its review found potential lapses in regulatory compliance. Following its thematic review of VCCs and their managers in 2024, the central bank said it is engaging with specific managers to determine whether supervisory interventions or regulatory actions may be warranted. Despite the potential lapses, industry players noted that Singapore's fund management industry remains robust, with a majority of VCCs and their managers complying with regulatory requirements. VCCs are a corporate structure designed to house investment funds for a wide range of assets. In Singapore, they are managed by about 600 financial institutions, comprising MAS-regulated fund management companies and banks. It has become a popular vehicle among some family offices. A VCC allows for segregated funds to be created, where assets can be pooled together for private investments or individual sub-funds can be managed on behalf of each of their clients. MAS said the majority of these companies and their managers met key regulatory requirements: VCCs have to be used as collective investment schemes; and they will need to appoint a MAS-regulated manager, a director from the VCC manager, and an eligible financial institution. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up A VCC manager must also segregate its assets and maintain them with an independent custodian, as well as ensure anyone who conducts fund management for the company is a representative of the manager. VCCs also remain responsible for fulfilling their anti-money laundering obligations. MAS found that there were some of them that did not report custody arrangements, despite investing in certain types of assets that require them – such as listed equities and fixed-income instruments. Some had also appointed additional directors who are not directors or representatives of the VCC manager. Meanwhile, the central bank noted that some of these companies did not have substantive fund management activity. There were a few managers that were managing multiple VCCs that did not hold any assets or have any investors, despite having been incorporated for more than a year. Some of these companies also held illiquid assets on behalf of a single investor or a few connected investors, where these assets were previously owned by the investors. A routine survey Joel Shen, corporate partner at international law firm Withers, said the review is likely a routine survey, being conducted around five years after VCCs were first introduced to Singapore. 'It is about time MAS does some housekeeping, especially now that there is such a large number of VCCs in the market,' he said. According to the central bank, there were around 1,200 of these companies in Singapore as at Mar 31, 2025. Shen noted that this would mean the number of funds is a 'multiple of that number', since a VCC is essentially an umbrella of sub-funds, each with their own investment strategy and assets. He was 'quite encouraged by the findings that the vast majority of VCCs were compliant to regulations'. 'That speaks to Singapore's good reputation and high standards of regulation and governance,' he said. Urvi Guglani, who oversees growth and strategy at Silverdale Capital, said the review is a great step by MAS as it ensures that Singapore would not be caught infringing on the implementation of global corporate tax. This raises the level and perception of the Republic as a wealth centre, making it more attractive to big and long-term funds. 'Singapore is very well-reputed and perceived as a no-nonsense jurisdiction that has zero tolerance for shady deals,' she said. 'Removing (the) 'light-touch perception' will remove tourist fund managers and non-serious VCCs, leaving the field for professionally managed firms like us who have invested heavily in creating robust infrastructure to run VCC funds,' she added.
Globe and Mail
09-07-2025
- Business
- Globe and Mail
Velocity Commercial Capital Securitization Ratings Affirmed and Upgraded by Kroll Bond Rating Agency
Velocity Financial, Inc. (NYSE: VEL), ('Velocity' or the 'Company'), a leader in investor real estate loans, today announced that Kroll Bond Rating Agency ('KBRA') has reviewed the ratings on 26 of the outstanding securitizations issued by its wholly-owned subsidiary, Velocity Commercial Capital, LLC, ('VCC') resulting in 344 rating affirmations and 14 rating upgrades of the underlying tranches. These ratings actions occurred in conjunction with KBRA's completion of a comprehensive surveillance review. KBRA's rating affirmations reflect 'generally stable collateral and structure performance, as evidenced by increased credit support for the rated classes and minimal losses since issuance.' The rating upgrades considered each bond's increased credit support compared to KBRA's updated loss expectations and positive performance trends in the underlying loan pool since issuance. Cumulative loss levels in Velocity's outstanding securitizations ranged from 0.00% to 0.58%, with 13 of 26 VCC outstanding securitizations experiencing no losses since issuance. 'The strong and consistent performance of Velocity's securitizations continues to drive positive ratings momentum,' said Jeff Taylor, Executive Vice President of Capital Markets. 'Velocity prioritizes strong alignment with investors by retaining credit risk in our securitizations. Our differentiated performance stems from our underwriting discipline and proprietary loss mitigation strategies that result in consistently minimal cumulative losses as we grow our portfolio.' About Velocity Financial, Inc. Based in Westlake Village, California, Velocity is a vertically integrated real estate finance company that primarily originates and manages investor loans secured by 1-4 unit residential rental and small commercial properties. Velocity originates loans nationwide across an extensive network of independent mortgage brokers it has built and refined over 21 years. For additional information, please visit the Company's investor relations website at
