Search Results for: legal
How are banks actually going to use blockchains and smart contracts?
January 25th, 2016
Banks are now officially collaborating on connected distributed ledgers, something of a milestone in the blockchain narrative. But how are they actually going to use computational blockchains that can operate that well-known term of art – “smart contracts”? Dr ...
Google tax deal labelled ‘derisory’, as criticism grows
January 25th, 2016
An agreement for US firm Google to pay £130m in UK back taxes has been labelled as “derisory” and a “sweetheart deal” by critics. The payment covers money owed since 2005 and follows a six-year inquiry by Her Majesty’s ...
S.Korean antitrust agency probes Volkswagen over emissions ads
January 22nd, 2016
South Korea’s antitrust regulator is probing Volkswagen AG over its advertising claims on emissions from its cars, an official at the agency told Reuters on Friday. The Fair Trade Commission official said a probe is under way without elaborating. ...
Convict Libor brokers only if they played ‘significant’ role, UK jury told
January 22nd, 2016
Jurors in Britain’s second Libor trial were instructed on Thursday not to convict the six former brokers in the dock unless evidence showed they played a “significant” part in an alleged plot to help convicted trader Tom Hayes rig ...
Goldman Sachs:2015 Annual and Fourth Quarter Results
January 21st, 2016
Bank’s trading revenue drops 9%, while investment banking is a bright spot Goldman Sachs Group Inc. predicted that this month’s stock-market swoon wouldn’t derail a merger boom that proved one of the bright spots in a lackluster quarter for the Wall ...
Some Shanghai Banks Said to Curb Individual Forex Purchases
January 21st, 2016
Banks said to request close checks by branches for violations Shanghai SAFE vows crackdown on illegal foreign transactions Some Shanghai banks have asked their branches to strictly control the sale of foreign exchange to individuals, according to people familiar ...
KPMG withdraws audit opinions on CFTC over accounting error
January 20th, 2016
The U.S. regulator that polices the complex derivatives markets is struggling to keep its own books in order and has made a material error that its auditor found so significant that it withdrew nearly a decade of its financial ...
CySec announces acquisition of CIF licence for Investment Services
January 20th, 2016
The Cyprus Securities and Exchange Commission (CySec), the financial regulatory authority of Cyprus, has announced that “Daweda Exchange Ltd“ has successfully obtained the CySec licence for CIF (Cyprus Investment Firms). The firm is now authorised to operate legally under the supervision of CySec ...
UBS:Developed economies likely to benefit while emerging economies likely to suffer in Fourth Industrial Revolution
January 20th, 2016
A new UBS white paper unveiled at the World Economic Forum`s Annual Meeting reveals that economic flexibility is vital to succeeding in 2016 and beyond. Fourth Industrial Revolution being driven by extreme automation and connectivity Low and middle-skilled jobs ...
Moody’s: Cross-currency swaps mitigate effect of exchange controls on covered bonds and securitisations
January 19th, 2016
Moody’s Investors Service says cross-currency swaps that mitigate the effect of foreign exchange controls have enabled Moody’s to assign ratings above the applicable foreign currency bond ceilings to foreign-currency-denominated covered bonds and securitisation transactions. “To mitigate the transferability and ...
