Regulation
E-commerce revitalise financial markets-Gemcard MD
Electronic commerce encourages active financial markets as financial markets are most vibrant when they can attract large and small investors, locally and globally, said Alex Nwuba from GemCard Nigeria.
BOC's Liu says restructuring plan approved by PBOC
Bank of China President Liu Mingkang said on Thursday its proposed restructuring plan had been approved by China's central bank, the People's Bank of China.
Lebanon considers changes to money laundering bill
The Lebanese Cabinet discussed a draft law to counter money-laundering on Wednesday but shelved the issue for a future meeting after some ministers proposed changes to the proposal.
China intensifying supervision of foreign banks
People's Bank of China, China's central bank, is stepping up the regulation of foreign-invested banks management.
Poland upgrading banking laws to EU standards
The Polish government has approved amendments to laws on the banking system and the central bank to upgrade them to European Union standards, a finance ministry official said on Wednesday.
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.
Namibia City Savings Investment Bank board sacked
An interim board has been appointed to run the troubled City Savings and Investment Bank (CSIB) whose previous directors angered the Bank of Namibia so much it fired them all.
Hanoi eases rules on using land as collateral
Vietnam has relaxed rules governing the use of land rights as collateral to borrow from commercial banks, a move aimed at stimulating investment, a central bank official said on Tuesday.
Nigerian banks urged to strengthen controls
Banks operating in Nigeria have been urged by a former banking supervisor to embrace effective internal controls to safeguard their financial integrity, protect depositors' funds and forestall fraud.
Ugandan banks cautioned on margin fixing
The deputy governor Bank of Uganda, Dr Louis Kasekende, has warned commercial banks not to form cartels, in order to fix margins.
Estonia Securities Inspection to get new director
Estonian officials said on Monday that a state selection committee had nominated central bank official Kristjan-Erik Suurvali to become director general of the Securities Inspection.
Interview: Howard Davies
Following the passage of the Financial Services and Markets Act, the UK'sFinancial Services Authority is gearing up to assume full legal powers as the UK'ssingle regulator. In an exclusive interview, Howard Davies, FSA chairman andchief executive,…
Decoding the codes - is it worth the effort?
In the latest issue of The Financial Regulator, Lionel Price, Managing Director at Fitch Ratings, asks whether regulatory minimum standards can do the job expected of them.
Ten commandments for supervising mega-firms
If supervisors are to contain the risks posed by global financial conglomerates,urgent changes are needed. George J. Vojta, former vice-chairman of BankersTrust, proposes ten principles for supervising systemically important financialinstitutions.
Combating harmful tax practices
The OECD wants to stop wealthier taxpayers leaving the poor to foot the tax bill. In the latest issue of "The Financial Regulator", Dr William Witherell, Director, Financial, Fiscal and Enterprise Affairs, OECD, addresses some misunderstandings about the…
Estonia cbank, govt clash over finance supervision
The Estonian central bank has said the finance ministry had unexpectedly decided to create a unified financial supervision body with the government, and was sharply critical of the plan.
BoE worries about banks exposure to telecoms
The Bank of England is expected to express concern at the level of debt run up by telecoms companies, the UK's Telegraph newspaper said on Monday.
Brazil delays prospectus for Bepi and BEM
After the headache caused by the problems with economic and financial evaluations, the central bank decided to wait and postponed publication of the prospectuses to contract the company that will put together the sale model and perform the financial and…
Brazil: new central bank should follow UK model
The plan for the "new" Central Bank of Brazil, elaborated by the government, is ready and will be sent to Congress at the beginning of 2001.
Buba's Reckers-no need for change in ECB rates
Bundesbank council member Hans Reckers said on Monday that the European Central Bank had no need to change interest rates in the foreseeable future.
Slovenia to ease portfolio investment rules
The Bank of Slovenia said on Monday it would ease restrictions for foreign portfolio investment next month as part of its drive to harmonise its regulations with those of the European Union by the end of 2002.
Cambodia central bank closes 11 commercial banks
The National Bank of Cambodia has closed 11 commercial banks that failed to comply with the minimum capital requirement set by the new banking law, according to the Cambodia Daily on Monday.
Lithuanian, Polish national banks to cooperate
Heads of the Lithuanian and Polish central banks, Reinoldijus Sarkinas and Hanna Gronkiewicz-Waltz, have signed an agreement on the mutual cooperation in the sphere of the supervision of banking activities.
Malaysia banks gear up to tie merger knot
Malaysia's most ambitious financial sector consolidation takes shape from January when most of its banks finally tie the knot in government-ordered unions to fight foreign competitors.