Search Results for: PRA
EU anti money-laundering rules enter into force
July 11th, 2018
New EU rules against money laundering, which entered into force Monday, introduce stricter transparency requirements on the real owners of companies and strengthen the fight against terrorist financing. The 5th Anti-Money laundering Directive, first proposed by the European Commission ...
48% say America will be out of cash by 2023
July 11th, 2018
One in five Americans thinks their payments will be completely cash-free in their lifetime, according to a new study from GATE (Global Acceptance Transaction Engine) conducted with third-party research firm YouGov. With Apple Pay, Google Pay, Venmo, Square, credit ...
US releases $200bn list of Chinese products for possible new tariffs
July 11th, 2018
Accusing China of not negotiating “seriously” on trade, the Trump administration has released a list of products it wants to impose a ten percent tariff on, amounting to $200 billion. The new tariffs would kick in within 60 days. ...
Credit Suisse to pay millions in dollars to settle criminal penalty and charges
July 9th, 2018
The Securities and Exchange Commission announced that Credit Suisse Group AG will pay approximately $30 million to resolve SEC charges that it obtained investment banking business in the Asia-Pacific region by corruptly influencing foreign officials in violation of Foreign ...
EBA and ESMA publish Guidelines on suitability assessment for management body members and key function holders
July 6th, 2018
The European Banking Authority (EBA) and the European Securities and Markets Authority (ESMA) have published their joint Guidelines to assess the suitability of members of management bodies and key function holders. These guidelines are issued pursuant to Article 16 ...
Initial Coin Offerings: A total of $13.7 billion USD raised the first five months of 2018; Report
July 5th, 2018
The Crypto Valley Association has teamed up again with Strategy&, the strategy and consulting division of CVA member PwC, to launch the June 2018 edition of their quarterly reports on the global Initial Coin Offering (ICO) market. The report, ...
Irrational Beliefs Are Ruling Markets
July 4th, 2018
To understand the consequences of the credit cycle, we must dismiss pure opinion, and examine the evidence rationally. This article assesses the fate of the dollar on the next credit crisis, a subject of increasing topicality. It concludes ...
Operator of commodity trading fund charged with defrauding fund participants
July 3rd, 2018
The Commodity Futures Trading Commission (CFTC or Commission) filed a civil enforcement action in the U.S. District Court for the Eastern District of New York, charging Defendant Harris Bruce Landgarten of Old Brookville, New York, with defrauding participants in ...
Singapore, Trade and Geopolitics
June 26th, 2018
The Western media was incredulous. The Donald had disregarded diplomacy, scuttled out of the G7 meeting in Canada without endorsing the G7 agreement, and ended up shaking hands with a previously avowed enemy in Singapore. The formally leisurely ...
Deutsche Bank spends $17 billion in a decade on legal costs
June 25th, 2018
Despite spending $17 billion, the bank still has five of its biggest cases outstanding and has set aside $2.9 billion for litigation provision in the first quarter. German’s Deutsche Bank has spent more than $17 billion over the past ...
