GC Asia
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MEPs rebuke banking regulator for revolving door
Members of the European Parliament have hit out at the appointment of a top banking regulator as chief executive of the lobbyist group the Association for Financial Markets in Europe. Meanwhile, the regulator has nominated a former Afme lobbyist as his successor.
17 Jan 2020 -
CFTC fines Mirae Asset Daewoo for spoofing
South Korea’s Mirae Asset Daewoo has been ordered to pay $700,000 after a US Commodity Futures Trading Commission investigation found one of its traders had engaged in spoofing.
14 Jan 2020 -
NMC Health insiders sell £375m of stock
Two major insiders offloaded £375m of stock in NMC Health, the troubled UAE-based private healthcare company to cover debts on Tuesday. The share sale, which was priced at a 19.7% discount to close, came weeks after a short selling attack on NMC Health by US activist hedge fund Muddy Waters, which caused the company to lose more than half of its market value.
08 Jan 2020 -
Short selling can promote greater corporate responsibility
Short sellers' detractors say they are detrimental to the responsible stewardship of companies. This is unfair; they can play a useful role in highlighting deceptive practices in a world of greenwashing.
07 Jan 2020 -
Ukraine’s moment of truth on hold as court postpones Privatbank hearing
Investors eyeing Ukraine will have to wait until next year for a clearer view on how friendly the country is to foreign capital, after a court delayed a decision on the fight over Privatbank, the scandal dominating the country's financial affairs.
20 Dec 2019 -
Southpaw’s alternative awards of 2019
Southpaw takes a sideways look at some of the big events that defined investment banking in 2019.
18 Dec 2019 -
NMC saga injects more fraud fear into equity-linked market
Equity-linked bond investors were left hurting again this week after bonds and shares in NMC Healthcare, the London-listed Emirati private healthcare business, were hit by accusations of fraud by short seller Muddy Waters. This is another painful episode for the convertible bond market after its troubles with Wirecard earlier in 2019, and an earlier scandal at Steinhoff International.
18 Dec 2019 -
If retail investors can buy burrito notes, why not proper bonds?
Retail investors who bought two minibond issues from Chilango, a London-based Mexican food chain, are set to lose their money, with either a 90% writedown or debt-for-equity swap heading their way. This was grimly predictable, based on a cursory glance at the deal documents, but the issue shows how messed up our investor protection rules are.
17 Dec 2019 -
US bars ex-Goldman banker Leissner for 1MDB scandal
The US financial regulator has permanently barred former Goldman Sachs executive Tim Leissner from the securities industry, for his role in the 1MDB scandal.
17 Dec 2019 -
Nuclear and governance to be pressure points in Taxonomy trilogue
National governments of the European Union have reached agreement on the law that will implement the Taxonomy of Sustainable Economic Activities, even though Germany, Austria, Luxembourg and Greece are unhappy that nuclear power has not been specifically excluded. There could be fights over that issue when the Parliament and Commission negotiate with the Council in a 'trilogue'.
25 Sep 2019
