Archives
CySec: acquisition of licenses
May 9th, 2014
The Cyprus Securities and Exchange Commission (CySec) the Cypriot financial regulatory authority has announced that “Panglobe Group Limited” and “Midland Consult (Cyprus) Ltd” have successfully obtained the CySec license. They are is now authorised to operate legally under the supervision ...
Federal Reserve invites comment on proposed rule
May 9th, 2014
The U.S. Federal Reserve Board on Thursday invited comment on a proposed rulemaking that would implement section 622 of the Dodd-Frank Act, which prohibits a financial company from combining with another company if the ratio of the resulting financial ...
Australian GMO ‘Contamination’ Case Could Have International Repercussions
May 9th, 2014
Australian farmers Steve Marsh and Mick Baxter grew up together, were once schoolmates, and have grown crops on their neighboring farms for years. But the emergence of GMO technology has driven a wedge between the long-time friends, leaving them ...
Two men arrested for insider trading and abuse of public office, $7 million restrained
May 9th, 2014
The Australian Federal Police and Australian Securities and Investments Commission have issued a joint press release as follows: Two men have been arrested by the Australian Federal Police (AFP) today for offences relating to insider trading, money laundering, corruption ...
FSA signs cooperation with the Bank of Thailand
May 9th, 2014
The Japanese Financial Services Agency (FSA) and the Bank of Thailand signed the Exchange of Letters for Cooperation (EOL) on May 9, 2014. The EOL provides a formal basis for ongoing cooperation between the two authorities in sound financial ...
No Company Too Small to Pursue Finance Operations Excellence
May 9th, 2014
The biggest barriers to optimized performance tend to be self-imposed, such as permitting unnecessary complexity in finance processes and systems. Size equals scale equals efficiency, right? Yes, but there are very few structural reasons why companies with less than ...
Ukraine refuses Russian demand for advance gas payment
May 9th, 2014
Ukraine will not pay in advance for Russian gas at Gazprom’s new, higher price, the Ukrainian Energy Minister Yuriy Prodan has said. Russia made the demand after saying Ukraine had failed to pay the bill for its April natural ...
Vodafone seeks arbitration over Indian tax dispute
May 9th, 2014
Vodafone is to seek international arbitration in a bid to resolve an historic dispute with the Indian government. The dispute is rooted in Vodafone’s acquisition of Hutchison Whampoa’s Indian mobile assets for $11.2bn (£6.5bn). The Indian authorities had argued ...
Co-op Group’s stake in Co-op Bank set to fall
May 9th, 2014
The Co-operative Group is set to see its 30% stake in the Co-op Bank reduced further under a plan to shore-up the bank’s finances. As a result, a group of investors who injected almost £1bn into the bank last ...
Snapchat settles with US regulators for deceiving users
May 9th, 2014
Ephemeral messaging service Snapchat has settled with US regulators over charges it deceived users when it promised their messages would disappear. The Federal Trade Commission (FTC) said Snapchat misled users over data collection and failed to inform them that ...
