10th May 2017
January 2019 is a far more realistic date than July 2018 for bringing lawyers into the requirements of the Anti-Money Laundering and Countering Financing of Terrorism legislation, the New Zealand Law Society says. The Law Society has presented a submission on the Anti-Money Laundering and Countering Financing of Terrorism Amendment… Read More
9th May 2017
The Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht – BaFin) today issued a General Administrative Act pursuant to section 4b of the German Securities Trading Act (Wertpapierhandelsgesetz – WpHG). The General Administrative Act restricts the marketing, distribution and sale of financial contracts for difference (CFDs). Contracts with an additional payments… Read More
8th May 2017
Criminals who use the virtual currency known as Bitcoin can be convicted of money laundering under a Florida measure passed by legislators late Friday. Both the state House and Senate approved the bill, which now heads to the desk of Gov. Rick Scott for approval. Read More
8th May 2017
China is in the midst of what proponents are heralding as its harshest crackdown on financial risks in history: a campaign that is by no means a fleeting gesture. This is not the first time that the central authorities has stressed to address financial risks, but a such a concerted,… Read More
8th May 2017
No matter what, I am an optimist. A pessimist’s worldview and lifestyle is really unattractive. I would always rather see the glass as half full.Too many in the professional world have confused negative perspectives and predictions as a way to demonstrate their own expertise. It is an unfortunate practice in… Read More
5th May 2017
President Pranab Mukherjee is likely to promulgate on Friday an ordinance giving greater powers to the Reserve Bank of India (RBI) to tackle mounting bad loans, according to a person in the finance ministry aware of the development. It is expected that the presidential assent to the ordinance will come… Read More
4th May 2017
Legislation set to be introduced under the Criminal Finances Act 2017 will make businesses liable for criminal acts committed by employees who encourage or assist tax evasion by other individuals, e.g. customers or suppliers. Under the new legislation, businesses will be liable even in cases where senior management were either… Read More
4th May 2017
The cabinet cleared the nonperforming asset (NPA) resolution package that includes an ordinance to empower the Reserve Bank of India to more effectively deal with bad assets, a move that will kick off a long-awaited initiative aimed at cleaning up the balance sheets of banks burdened with bad debt. Read More
4th May 2017
China is in the midst of what proponents are heralding as its harshest crackdown on financial risks in history: a campaign that is by no means a fleeting gesture. This is not the first time that the central authorities has stressed to address financial risks, but a such a concerted,… Read More
4th May 2017
The Managed Funds Association (MFA) and the Alternative Investment Management Association (AIMA) are urging the Commodity Futures Trading Commission (CFTC) to scrap the proposed automated trading regulation. In a letter to the CFTC, the associations said the commission should abandon the current version of the rule and, instead, implement… Read More