As the UK prepares to leave the EU, FCA solo regulated firms should consider if or how they will be affected and what action they may need to take. Firms need to make sure they understand the implications of Brexit and plan accordingly. Passporting currently allows firms authorised in an EEA state to conduct business within other EEA states based on their ‘home’ member state authorisation.
Continue reading…

Greece has successfully concluded a three year European Stability Mechanism (ESM) stability support programme with its place at the heart of the euro area and European Union secured. The successful conclusion of the programme is a testament to the efforts of the Greek people, the country’s commitment to reform, and the solidarity of its European partners.
Continue reading…

With the onset of the global financial crisis, the longstanding downward trend in tariffs and other barriers to trade has largely come to a halt. Recent political events – such as the Brexit vote in the United Kingdom, the shift in US trade policy and international responses to it – indicate a danger of rising protectionism and repatriation of production and consumption. In a highly interconnected world economy with global value chains (GVCs), the productivity of domestic industries depends on the availability of imported inputs. And because imported inputs complement the productivity of domestic labor, the fraction of workers who stand to lose from protectionism is large. To exemplify this, the Bank for International Settelements (BIS) study the effects of one hypothetical protectionist measure – the case of revoking NAFTA – in the global network of input-output trade.

Continue reading…

By Javier Hamann and Eija Holttinen
IMF Monetary and Capital Markets Department
Belgium accounts for less than 3 percent of the European Union’s $17 trillion economy, but it has outsize importance to the financial system. The reason is that Belgium hosts several institutions that provide global services for the settlement of transactions, custody, and payments. Belgium is also home to SWIFT, a critical node of the global payments network.
Continue reading…

Different new-sites report that the US Federal Reserve System (Fed) is warning about the long-term impact of Trumps’ dission to go on trade war. A large prolonged trade dispute could hurt business sentiment, investment spending and employment, according to the minutes from the latest meeting of the Fed. Rats would likely rise soon to counter excessive economic strenght.
Continue reading…

There is serious reason for Trump to worry know Paul Manafort faces a maximum of 80 years in prison. Two of Trupms closest aides faced jail time, after court proceedings delivered a legal and political one-two punch to his embattled presidency. In New York, Trump’s attorney Michael Cohen, admitted eight counts, including making illegal campaign contributions. Continue reading…

Information which might constitute business secrets loses, generally, its secrecy when it is at least five years old Mr Ewald Baumeister is one of the investors who suffered loss due to the activities of the German company Phoenix Kapitaldienst, whose business model took the form of a Ponzi scheme. Insolvency proceedings having been initiated against Phoenix in the course of 2005 that company has been dissolved and is now in judicial liquidation.
Continue reading…

The Singapore government has made significant changes to the rules governing companies, further enhancing the country’s reputation as a good place to do business. The Companies (Amendment) Act 2017 was passed in Parliament in March last year. Some of the changes took effect from March 2017. These include locally-incorporated companies and foreign companies registered in Singapore having to maintain a register of registrable controllers. In addition, Singapore incorporated companies must now keep a register of nominee directors. There’s also no longer a requirement for companies to use a common seal.
Continue reading…

Greece has successfully concluded a three year stability support programme with its place at the heart of the euro area and European Union secured. Greece has successfully concluded a three year European Stability Mechanism (ESM) stability support programme with its place at the heart of the euro area and European Union secured. The successful conclusion of the programme is a testament to the efforts of the Greek people, the country’s commitment to reform, and the solidarity of its European partners.
Continue reading…

This article outlines he EDPS on the Proposal for a Regulation of the European Parliament and of the Council on strengthening the security of identity cards of Union citizens and of residence documents issued to Union citizens and their family members exercising their right of free movement. In this context, the EDPS observes that the Commission has clearly chosen to prioritise the free movement aspects of the Proposal and to treat the security-related objective as corollary. The EDPS remarks that this might have an impact on the analysis of necessity and proportionality of the elements of the Proposal.
Continue reading…