Regulation

Swaziland introduce law against money laundering

Swazi finance minister John Carmichael is expected to table in parliament the long awaited criminal and money laundering bill that would empower prosecutors world-wide to extradite suspected criminals against Swazi laws to stand trial in Swaziland, the…

Cameroon to go it alone with national bourse

Cameroon has announced the creation of a national stock exchange, just days after Central African leaders chose Libreville in Gabon rather than Cameroon's economic capital of Douala as the seat for a regional bourse.

Estonia cbank, govt clash over draft watchdog bill

The Estonian central bank on Tuesday expressed concern over government approval earlier in the day of a draft bill, aimed at merging the securities, banking and insurance watchdogs into one financial inspectorate from January 2002.

Clamor for cash in bank closings in Cambodia

A top Cambodian central bank official said Monday that the bank will ensure that the liquidation of recently closed banks is done by the law, but depositors at those banks still do not know when, if ever, they will get their money back, according to The…

FRC declares Kansai Kogin, Tokyo Shogin insolvent

The government's Financial Reconstruction Commission (FRC) on Saturday declared Kansai Kogin and Tokyo Shogin insolvent, believing the credit unions are severely undercapitalised, and will appoint administrators to oversee them, FRC officials said.

Bank Aspac misallocated BLBI funds

Two Bank Indonesia officials said on Thursday that former Bank Aspac director Hendrawan Haryono had misallocated Rp 583 billion (US$61.4 million) out of the Rp 1.5 trillion Government Liquidity Support Funds (BLBI) it had received from the central bank.

BoE warns on telecoms debt

The Bank of England has joined the UK's financial regulators in warning banks of the risk of heavy lending to telecoms companies.

When Genius Failed: The Rise and Fall of LTCM

This new book by Roger Lowenstein about Long-Term Capital Management suggests that the lenders were clueless as to the nature of the LTCM's assets and strategies and equally ignorant as to LTCM's total indebtedness. Rather, the banks relied on the brand…

SEC eyes tougher options rules

US securities regulators are close to proposing tougher new rules over the disclosure and approval of stock option plans by US companies. By John Labate in New York, The Financial Times.

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