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Insurance commissioner’s enforcement action against Zenefits results in multi-million dollar penalty
November 29th, 2016
Insurance Commissioner Dave Jones today announced the enforcement action taken against Zenefits for multiple license violations has resulted in a $7 million penalty. Zenefits was charged with allowing unlicensed employees to transact insurance and circumventing insurance agent education requirements. ...
TechFinancials to receive $1 Million dividend pay-out from DragonFinancials
November 28th, 2016
TechFinancials Inc. (AIM: TECH), a leading technology provider to financial trading brokers, has issued a press release to announce a dividend pay-out by its subsidiary, DragonFinancials. The board of directors of DragonFinancials have declared an interim dividend pay-out of ...
Foreign Exchange and OTC Derivatives Market Turnover in Italy
November 28th, 2016
In April 2016 the Bank of Italy conducted the customary triennial survey of the volume of foreign exchange and OTC derivatives market transactions carried out by the major resident banks. The survey was performed by 52 central banks and ...
Masterminds behind largest market manipulation case in Singapore charged
November 28th, 2016
Soh Chee Wen, also known as John Soh (Soh), and Quah Su-Ling (Quah) have today been charged for orchestrating a massive fraud to manipulate the market for the shares of Blumont Group Ltd (Blumont), Asiasons Capital Limited (Asiasons) (now ...
The economic consequences of Mr Modi
November 26th, 2016
Two weeks ago, India’s Prime Minister Narendra Modi demonetised an estimated 86% of rupees in circulation, offering conversion into a bank account or into smaller currency notes until 31 December, after which these notes will have no redemption value. ...
PwC comments on EU’s proposed changes to finalise Basel III and start implementing Basel IV
November 25th, 2016
Earlier this week , the European Commission published its first proposals for revised rules to calibrate capital and liquidity requirements – in the form of a Directive and a Regulation (“CRD V”& “CRR II”), as well as amendments to ...
Next new trading participant at SIX Swiss Exchange
November 25th, 2016
Following the legal restructuring at Credit Suisse, SIX welcomes Credit Suisse (Switzerland) Ltd. as a new participant. The new Swiss legal entity is a wholly owned subsidiary of Credit Suisse AG and covers its Swiss business. With the admission of ...
Japanese insurer to offer coverage for both exchanges and their customers
November 25th, 2016
Mitsui Sumitomo Insurance will launch an insurance product specifically designed to cover losses and damages at bitcoin exchanges. The product, developed with Japanese bitcoin exchange operator bitFlyer, will protect both exchanges and their customers. The total coverage, ranging from ...
German Finance Ministry Publishes Report on Fintech: Very High Growth in Recent Years
November 24th, 2016
The German Federal Ministry of Finance or Bundesministerium der Finanzen, has published a report on the emerging Fintech sector. The document, authored by Prof. Dr. Gregor Dorfleitner and Jun.-Prof. Dr. Lars Hornuf (with the assistance of Matthias Schmitt & Martina ...
T-Mobile’s accounting slammed by investor group in letter to SEC
November 24th, 2016
MarketWatch is not alone in criticizing wireless operator T-Mobile US. Inc. for its accounting. An investor group sent a formal letter of complaint to the Securities and Exchange Commission on Wednesday, asking the regulator to conduct a probe of ...
