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Legal & Regulatory

Iran Policy Oversight Act

US does not plan to grant Iran access to US financial system

The US government doesn't seem be in favor of giving total access to Iran on its financial system. US President Barack Obama said the government is not looking to permit the use of its financial system in dollar-denominated deals with Iran.

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Technician Servicing Photovoltaic Cells In Solar Energy Farm In Albuquerqe

TerraForm Sued Parent Company SunEdison for Diverting $231 Million Projects Money to Its Own Balance Sheet

SunEdison is facing another lawsuit, this time from its subsidiary TerraForm. TerraForm accused its parent company for misallocating cash for its projects in India to SunEdison’s own balance sheet.

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Petro Poroshenko Press Conference

Panama Papers: Ukrainian President Poroshenko Denied Accusations of Tax Evasion

The Panama Papers documents leak suggest that Ukrainian President Petro Poroshenko might be using an offshore company to evade tax. However, the president has denied such accusations, saying that he has not been managing the assets since he became president in 2014.

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Argentina Faces First Presidential Runoff In Its History

Panama Papers: Argentina President Mauricio Macri Denied Wrongdoings in Connection to the Offshore Company Linked to Him

Panama Papers documents leak ties Argentinian President Mauricio Macri to an offshore company. In a statement in response to many accusations, President Macri revealed that he was never a stakeholder in the company, and that he was not involved in any wrongdoings in regard to that.

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President Vladimir Putin Visits USA House

Biggest Documents Leak in History Ties Vladimir Putin to $2 Billion Offshore Money Trail

The history’s biggest confidential documents leak revealed Russian elites, mostly Mr Putin’s inner circles, as clients of an offshore law firm in Panama. The offshore money trail connected to Mr Putin’s allies is worth $2 billion.

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GlaxoSmithKline Reports First Quarter Profits

GSK Got Positive Recommendation for Its Gene Therapy for Bubble Boy Disease, Expecting Approval Soon

A gene therapy for Bubble Boy Disease has received positive evaluation from European regulatory panel, paving a way for official approval. Currently, there’s no gene therapy for the disease, and the therapy would enhance patient’s success in survival and even recovery.

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An employee walks past solar panels plac

SunEdison Planning For Bankruptcy Filing, Negotiating With Creditors For Related Financing

Besides suffering from acute cash crunch SunEdison has been facing scrutiny from regulators over failed Vivint deal and other issues. Huge debt burden has led the renewable energy giant to consider for seeking bankruptcy protection and is holding negotiations for related financing. The news has caused slashing share prices by around 50% during after hours trading on Friday.

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US-CHINA-GE-HAIER

GE Shrinks Finance Business, Appeals For Omitting SIFI Label

GE has slashed down assets of finance arm from $549 billion to $265 billion while cutting ties with rest of the financial system that led to attain the SIFI status. Now the conglomerate appeals for its declassification since it no longer possesses ability to exert risk for the US economy. However, an FSOC spokesman vows to exercise its legislative authority in protecting the country’s economy from potential threats.

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Big businesses speak out against North Carolina law restricting LGBT protections

Activists Demand North Carolina's Law that Restrict Protection on LGBT to be Revoked

People and business leaders protested State of North Carolina that restrict protection on LGBT people. The state's law was signed Wednesday by Governor Pat McCrory.

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New York tours and attractions: Metlife building standing.

MetLife wins legal case against FSOC's SIFI designation

MetLife has won a legal battle against US regulators over systemically important' financial institution (SIFI) status. A Washington court has rejected Financial Stability Oversight Counsil's (FSOC) attempt to classify MetLife as SIFI.

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AIG or American International Group signage on its building...

United Guaranty, Mortgage Insurer of AIG Files For IPO With NYSE

AIG has announced in January planning for spinning off its mortgage insurer unit United Guaranty, following pressure from the shareholders. Following the announcement, Standard & Poor’s, a credit rating agency has downgraded its rating with specific reasoning. The mortgage insurer of AIG has disclosed through a regulatory filing that it intends to go for an initial public offering.

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Senate Hearing On The Pension Plans Of U.S. Airways

MetLife Approaches With Breakup Plan Since Washington Court Declares SIFI Label Unlawful

MetLife has announced in January planning for selling large portion of its US insurance unit. But the move has been suspended following imposition of designation as SIFI by FSOC. However, the FSOC move has been declared unlawful by a Washington court which paves the way for MetLife to go with its breakup planning.

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ISRAEL-POLITICS-ELECTION-ECONOMY-KAHLON

Knesset Affixes Maximum Ceiling of Exec Pay In FIs Aiming To Reduce Wage Disparity

Knesset has passed a bill that fixes maximum ceiling of executives in the financial institutions with no opposition. The bill turned law aims to reduce wage gap. However, a similar attempt in the US has backfired since the revised law allows exemptions for extraordinary performances.

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Pound Seen Tumbling Whether U.K. Stays In EU Or Seeks 'Brexit'

BoE Increases Capital Buffer Ceiling To Facilitate Probable Post Brexit Lending Market

The Financial Policy Committee (FPC) of Bank of England (BoE) has warned on Tuesday about possible financial outlook after Brexit. To tackle the possible lending market debacle, the committee has raised bank’s capital buffer requirement. However, the move has been criticized by the Brexit supporters whenever the referendum poll gets nearer.

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Ecommerce Shipment

India Announces Guidelines For Online Market Places Allowing 100% FDI

Indian finance ministry has issued a new set of guidelines for regulating the online market places. The guidelines also include definition of ‘ecommerce’, ‘inventory based model’ and ‘market place model’ to bring clarity in this sector. However, clarity in segmentation of ecommerce business has been applauded by the analysts.

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