Category: Regulations

January 26, 2024 BY Simon Mugo

ECB Policymaker Cautions Against Confiscating Russian Assets

European authorities have been mulling over the possibility of seizing frozen Russian assets, including those belonging to the central bank, to fund Ukraine's reconstruction. However, there are concerns that the negative impacts of such an action, including possible retaliation and a decrease in confidence in European assets, might outweigh the benefits. Using a currency as…

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January 10, 2024 BY Elizabeth Anderson

Grifols shares plunge after criticism by Gotham

Questioning reporting on its debt and earnings before interest, taxes, depreciation and amortisation (EBITDA), Gotham alleges misrepresentations in this regard to reduce the Grifols leverage ratio. The hedge fund further stated that the actual leverage ratio is about 10 to 13 times the EBITDA, instead of the six times reflected in the Grifols financial reports.…

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November 03, 2023 BY Elizabeth Anderson

Sanctions issued by US Department targeting Russia’s supply chain

Between 6 October and 7 November, the ministry had planned to purchase foreign currency to combat lower oil and gas earnings, worth approximately 398.7bn roubles; however, the ministry’s new decision seems that the postponement may continue throughout the early months of 2024. On Thursday, the rouble registered as 93:1 USD following sanctions made by the…

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October 19, 2023 BY Elizabeth Anderson

Potential new SEC rules to limit broker trading rebates

During this meeting, the SEC will evaluate whether the lower transaction prices and rebates going to larger firms with higher trading volumes create an unfair competitive advantage. Reuters reported that before the start of the meeting, SEC officials indicated that the complexity of pricing levels between different exchanges can result in significant cost differences. They…

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October 13, 2023 BY Elizabeth Anderson

Yandex eager to prove its Yango app doesn’t breach data privacy regulations in Europe

In August, regulators in Finland and Norway announced their intentions to ban Yango from transferring data. This decision was however revoked and seems to be a knee-jerk response to controversial legislation that came into effect on 1 September.  This law grants Russia access to data processed through taxi services. The Dutch authorities reacted similarly and…

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September 27, 2023 BY Elizabeth Anderson

Singapore’s bank investigates S$2.4bn money laundering scandal

In one of the largest anti-money laundering operations, the Singapore police arrested and charged 10 foreigners. The authorities laid their hands on S$2.4bn in assets that ranged from luxury properties and cryptocurrencies to motor vehicles. Singapore is widely known for its tough stance on money laundering. This incident raised eyebrows, and many are wondering if…

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September 07, 2023 BY Elizabeth Anderson

FINMA CEO steps down in the wake of Credit Suisse fiasco

The regulator received a volley of attacks because it did not act soon or effectively enough to stem the tide of wrongdoings at the world-renowned Swiss bank. This includes connections with Lex Greensill, which led to an approximate $1.8bn loss. Many believe FINMA’s communication with big financial institutions was lacking and that it was negligent…

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