28th May 2018
South Korean prosecutors searched Samsung Securities’ (016360.KS) head office as part of their investigation into the brokerage’s recent fat finger error. The brokerage’s accidental issuance of 2.8 billion shares to employees – more than 30 times the number of its outstanding shares and theoretically worth some $100 billion, prompted a… Read More
22nd May 2018
AP — The British Parliament’s foreign affairs committee slammed the government Monday for “turning a blind eye” to the role London’s financial center plays in laundering the proceeds of Russian corruption, saying it helps the Kremlin finance its aggressive foreign policy. Despite the government’s tough rhetoric after the… Read More
21st May 2018
The European Commission has announced the revival of legislation that will enable EU firms to trade with Iran despite US sanctions. Called the blocking statute, the measures ban EU companies from complying with the extraterritorial effects of US sanctions, and enable companies to recover damages arising from such sanctions from… Read More
18th May 2018
The European Commission will launch on Friday the process of activating a law that bans European companies from complying with U.S. sanctions against Iran and does not recognize any court rulings that enforce American penalties. “As the European Commission we have the duty to protect European companies. We now need… Read More
16th May 2018
AP — Germany’s cybersecurity agency says German and Belgian researchers have found a way to outwit two widely used forms of email encryption. IT security experts at the universities of Muenster, Bochum and Leuven were able to trick computers into covertly forwarding them the decrypted message. Germany’s Federal Office… Read More
15th May 2018
The Council of the European Union has adopted new rules aimed at combating money laundering and terrorism financing across the bloc following an agreement with the European Parliament in December. Dubbed the Fifth EU Anti-Money Laundering Directive (5AMLD), the law makes key changes to the previous directive, such as now… Read More
14th May 2018
Germany acknowledged it could be hard to protect companies doing business with Iran as a senior U.S. official renewed a threat of sanctions against European firms following Washington’s decision to pull out of a nuclear deal with Tehran. Economy Minister Peter Altmaier said Germany viewed President Donald Trump’s unilateral withdrawal… Read More
14th May 2018
AP — On the sixteenth floor of the headquarters of Odebrecht, the construction company at the center of one of the largest graft scandals in history, the executive charged with stamping out corruption insists the firm has changed its ways. Meanwhile, at the reception area downstairs, a justice official… Read More
11th May 2018
AP — A court in Shanghai sentenced the founder of the Chinese insurance company that owns New York City’s Waldorf Hotel to 18 years in prison on Thursday after he pleaded guilty to fraudulently raising billions of dollars from investors, state media reported. Shanghai’s No. 1 Intermediate People’s Court… Read More
10th May 2018
Britain’s financial watchdog faced sharp criticism on Wednesday from former small business owners who say they have been mistreated by big banks. Responding to questions from the influential Treasury Committee, the ex-business owners said the Financial Conduct Authority (FCA) was ill-suited to handle serious complaints against the lenders it regulates. Read More