The document summarizes regulatory reforms in the UK that will abolish the Financial Services Authority (FSA) and replace it with three new regulatory bodies - the Prudential Regulation Authority (PRA), the Financial Conduct Authority (FCA), and the Financial Policy Committee (FPC). The PRA and FCA will assume most of the FSA's existing functions, with the PRA focusing on systemically important firms and the FCA responsible for conduct regulation and other non-PRA firms. The FPC will monitor risks across the financial system. The FCA is expected to take a more interventionist approach to supervision compared to the FSA.
In this edition of Regulatory Focus, the experts in Duff & Phelps’ UK Compliance and Regulatory Consulting team, provide a detailed synopsis of the latest news and publications issued by the Financial Conduct Authority during March 2018.
Willkie Farr & Gallagher Corporate Crime Bulletin September 2017Paul Feldberg
Welcome to Willkie Farr & Gallagher’s Corporate Crime E-Bulletin. This publication provides an update on recent developments in the UK and the US with respect to financial crime and regulatory enforcement, including bribery and corruption, fraud, sanctions, money laundering, market abuse and insider dealing.
Proposed amendments to the financial services bill sdj 21 06 12Simon Deane-Johns
A set of amendments I was asked to prepare for a cross-party group of Peers for their review of the Financial Services Bill. Explained further on The Fine Print: http://sdj-thefineprint.blogspot.co.uk/2012/06/innovation-meets-financial-services.html
A synopsis of the Financial Conduct Authority’s (FCA) latest news and publications issued in April and May 2018.
With GDPR and MiFID II processes now firmly embedded in our daily lives, many of our readers will look back at the months of April and May with a sense of relief.
In this edition of Regulatory Focus, Duff & Phelps provides a synopsis of the FCA's latest news and publications issued in May 2017.
Highlights include:
MiFID II Topics and Challenges
FCA's increased focus on cyber resilience
Guidance on the Criminal Finances Act 2017
In this edition of Regulatory Focus, the experts in Duff & Phelps’ UK Compliance and Regulatory Consulting team, provide a detailed synopsis of the latest news and publications issued by the Financial Conduct Authority during March 2018.
Willkie Farr & Gallagher Corporate Crime Bulletin September 2017Paul Feldberg
Welcome to Willkie Farr & Gallagher’s Corporate Crime E-Bulletin. This publication provides an update on recent developments in the UK and the US with respect to financial crime and regulatory enforcement, including bribery and corruption, fraud, sanctions, money laundering, market abuse and insider dealing.
Proposed amendments to the financial services bill sdj 21 06 12Simon Deane-Johns
A set of amendments I was asked to prepare for a cross-party group of Peers for their review of the Financial Services Bill. Explained further on The Fine Print: http://sdj-thefineprint.blogspot.co.uk/2012/06/innovation-meets-financial-services.html
A synopsis of the Financial Conduct Authority’s (FCA) latest news and publications issued in April and May 2018.
With GDPR and MiFID II processes now firmly embedded in our daily lives, many of our readers will look back at the months of April and May with a sense of relief.
In this edition of Regulatory Focus, Duff & Phelps provides a synopsis of the FCA's latest news and publications issued in May 2017.
Highlights include:
MiFID II Topics and Challenges
FCA's increased focus on cyber resilience
Guidance on the Criminal Finances Act 2017
In this edition of Regulatory Focus, the experts in Duff & Phelps’ UK Compliance and Regulatory Consulting team, provide a detailed synopsis of the latest news and publications issued by the Financial Conduct Authority during May and June 2018.
https://www.duffandphelps.com/insights/publications/compliance-and-regulatory-consulting/regulatory-focus-july-2018
Will the UK financial sector be changed for good this year?Browne Jacobson LLP
Included in The RMA Journal, May 2016 | Copyright 2016 by RMA
In the UK, the Parliamentary Commission on Banking Standards, which was established in the wake of the Libor scandal, attributes the sector’s failings to flaws at the heart of its culture. The commission’s key proposals - in its report 'Changing Banking for Good' - have resulted in a new senior managers regime and whistleblowing rules that come into force this year.
https://www.brownejacobson.com/about-us/news-and-media/published-articles/2016/03/will-the-UK-financial-sector-be-changed-for-good-this-year
Presented by Jerry Sogoli at the 4th Annual East Africa Finance Summit
A comparative analysis of the independent regulatory agency approach vis-à-vis direct government oversight and the appropriateness of the former in regulating today’s insurance sector
Response to Call for Input on Crowdfunding: BWB ComplianceBWB Compliance
It's been almost two and a half years since the FCA's regime for crowdfunding platforms came into being and now the regulator is starting its review of how well the regime is working. BWB has been very involved with the crowdfunding industry since 2012 and we've given the regulator our feedback. We've worked with 37 investment-based and loan-based platforms and also provide support to the UK Crowdfunding Association.
In this edition of Regulatory Focus, the experts in Duff & Phelps round up the latest news and publications issued by the Financial Conduct Authority. Read more
Corporate Disclosure in Myanmar – Regulatory Requirements and Sustainability ...Ethical Sector
Vicky Bowman (MCRB Director) and Nicolas Delange (Managing Director, Yever) presented at a Breakfast Talk in the Learning Series of the Myanmar Institute of Directors on March 4th, 2020.
Read more:
https://www.myanmar-responsiblebusiness.org/news/corporate-disclosure-in-myanmar.html
Developments in Corporate Governance and Disclosure for Companies in MyanmarEthical Sector
On 6 February, Vicky Bowman, Director of MCRB and Thompson Chau, Myanmar-based business journalist and Director of the Board of the Myanmar-Hong Kong Chamber of Commerce, addressed an event hosted by the Hong Kong Chamber on how online disclosure of corporate information and constructive engagement with the media and other stakeholders can support a more healthy investment climate, as well as build a company’s social licence to operate by facilitating more accurate media coverage of the company and its activities.
Read more: https://www.myanmar-responsiblebusiness.org/news/disclosure-of-company-information.html
In this edition of Regulatory Focus, the experts in Duff & Phelps round up the latest news and publications issued by the Financial Conduct Authority. Read Duff & Phelps Regulatory Focus August 2018 edition here.
This presentation by Manuel Sebastião, Member of the Board of Directors, Redes Energéticas Nacionais (Portugal), was made during the discussion on "Addressing competition challenges in financial markets" held at the 2017 Latin American and Caribbean Competition Forum (4-5 April 2017 – Managua, Nicaragua). More papers and presentations can be found at oe.cd/laccf.
In the last few years, the financial markets have undergone dramatic change. While some of this is down to natural evolution, much of the change can be directly attributed to new rules introduced in the wake of the 2007 crisis. Regulators, legislators and central bank governors have been determined to avert another bubble bursting or an unexpected event that could threaten markets. Lawmakers have targeted key financial practices for reform, radically altering the expectations and behavior of industry participants. The combination of the Dodd-Frank Act, European Markets Infrastructure Regulation (EMIR), MiFID ll and Basel lll signify the biggest regulatory change in decades. These reforms have resulted in major change to how financial products are traded, settled, collateralized and reported, resulting in deep and ongoing structural changes to the markets.
There is no doubt that these new rules are directly impacting buy-side firms — be they asset managers, hedge funds, insurance companies or pension funds. But while the changes have certainly brought challenges, they have also brought opportunities. Firms that can proactively evaluate structural and operational dislocations in the marketplace and tailor business models to leverage the opportunities while addressing the challenges will be in the best position to stand apart from their competitors. Revised business models call for revisions to supporting processes and systems. Buy-side firms should look to re-architect their processes and technology infrastructure, with a goal to strengthen risk control and oversight, enhance transparency and improve efficiency of front-to-back office control functions.
The credit crisis, and the regulatory response it spawned have fundamentally reshaped financial markets for buy-side firms. But while the changes have brought about challenges, they have also ushered in opportunities. The key to success will be the speed with which firms are able to understand the changing marketplace and adapt their business models to align with the changes.
In this edition of Regulatory Focus, the experts in Duff & Phelps’ UK Compliance and Regulatory Consulting team, provide a detailed synopsis of the latest news and publications issued by the Financial Conduct Authority during May and June 2018.
https://www.duffandphelps.com/insights/publications/compliance-and-regulatory-consulting/regulatory-focus-july-2018
Will the UK financial sector be changed for good this year?Browne Jacobson LLP
Included in The RMA Journal, May 2016 | Copyright 2016 by RMA
In the UK, the Parliamentary Commission on Banking Standards, which was established in the wake of the Libor scandal, attributes the sector’s failings to flaws at the heart of its culture. The commission’s key proposals - in its report 'Changing Banking for Good' - have resulted in a new senior managers regime and whistleblowing rules that come into force this year.
https://www.brownejacobson.com/about-us/news-and-media/published-articles/2016/03/will-the-UK-financial-sector-be-changed-for-good-this-year
Presented by Jerry Sogoli at the 4th Annual East Africa Finance Summit
A comparative analysis of the independent regulatory agency approach vis-à-vis direct government oversight and the appropriateness of the former in regulating today’s insurance sector
Response to Call for Input on Crowdfunding: BWB ComplianceBWB Compliance
It's been almost two and a half years since the FCA's regime for crowdfunding platforms came into being and now the regulator is starting its review of how well the regime is working. BWB has been very involved with the crowdfunding industry since 2012 and we've given the regulator our feedback. We've worked with 37 investment-based and loan-based platforms and also provide support to the UK Crowdfunding Association.
In this edition of Regulatory Focus, the experts in Duff & Phelps round up the latest news and publications issued by the Financial Conduct Authority. Read more
Corporate Disclosure in Myanmar – Regulatory Requirements and Sustainability ...Ethical Sector
Vicky Bowman (MCRB Director) and Nicolas Delange (Managing Director, Yever) presented at a Breakfast Talk in the Learning Series of the Myanmar Institute of Directors on March 4th, 2020.
Read more:
https://www.myanmar-responsiblebusiness.org/news/corporate-disclosure-in-myanmar.html
Developments in Corporate Governance and Disclosure for Companies in MyanmarEthical Sector
On 6 February, Vicky Bowman, Director of MCRB and Thompson Chau, Myanmar-based business journalist and Director of the Board of the Myanmar-Hong Kong Chamber of Commerce, addressed an event hosted by the Hong Kong Chamber on how online disclosure of corporate information and constructive engagement with the media and other stakeholders can support a more healthy investment climate, as well as build a company’s social licence to operate by facilitating more accurate media coverage of the company and its activities.
Read more: https://www.myanmar-responsiblebusiness.org/news/disclosure-of-company-information.html
In this edition of Regulatory Focus, the experts in Duff & Phelps round up the latest news and publications issued by the Financial Conduct Authority. Read Duff & Phelps Regulatory Focus August 2018 edition here.
This presentation by Manuel Sebastião, Member of the Board of Directors, Redes Energéticas Nacionais (Portugal), was made during the discussion on "Addressing competition challenges in financial markets" held at the 2017 Latin American and Caribbean Competition Forum (4-5 April 2017 – Managua, Nicaragua). More papers and presentations can be found at oe.cd/laccf.
In the last few years, the financial markets have undergone dramatic change. While some of this is down to natural evolution, much of the change can be directly attributed to new rules introduced in the wake of the 2007 crisis. Regulators, legislators and central bank governors have been determined to avert another bubble bursting or an unexpected event that could threaten markets. Lawmakers have targeted key financial practices for reform, radically altering the expectations and behavior of industry participants. The combination of the Dodd-Frank Act, European Markets Infrastructure Regulation (EMIR), MiFID ll and Basel lll signify the biggest regulatory change in decades. These reforms have resulted in major change to how financial products are traded, settled, collateralized and reported, resulting in deep and ongoing structural changes to the markets.
There is no doubt that these new rules are directly impacting buy-side firms — be they asset managers, hedge funds, insurance companies or pension funds. But while the changes have certainly brought challenges, they have also brought opportunities. Firms that can proactively evaluate structural and operational dislocations in the marketplace and tailor business models to leverage the opportunities while addressing the challenges will be in the best position to stand apart from their competitors. Revised business models call for revisions to supporting processes and systems. Buy-side firms should look to re-architect their processes and technology infrastructure, with a goal to strengthen risk control and oversight, enhance transparency and improve efficiency of front-to-back office control functions.
The credit crisis, and the regulatory response it spawned have fundamentally reshaped financial markets for buy-side firms. But while the changes have brought about challenges, they have also ushered in opportunities. The key to success will be the speed with which firms are able to understand the changing marketplace and adapt their business models to align with the changes.
Legal shorts 05.12.14 including Chancellor’s 2014 Autumn statement and FCA up...Cummings
Welcome to Legal Shorts, a short briefing on some of the week’s developments in the financial services industry.
If you would like to discuss any of the points we raise below, please contact me or one of our other lawyers.
International Capital Standard (ICS) Background PwC
PwC US risk & capital management leader Henry Essert and PwC global insurance regulatory director Ed Barron
recently sat down to discuss the proposed International Capital Standards (ICS) for insurers. They addressed at
length what the ICS is and what it could mean to insurers. The following pages contain their thoughts on the
standard, as well as some background information on capital management and related issues in the
insurance industry.
Embedding Encouragement of Innovation Across the FCASimon Deane-Johns
My remarks to the Finance Innovation Lab workshop on "How Policy & Regulation Can Encourage Finance Innovation With a Social Purpose" hosted by the FCA on 20 March 2017
Financial Regulatory Reform: A New Foundation (1) Promote robust supervision and regulation of financial firms. Financial institutions that are critical to market functioning should be subject to strong oversight. No financial firm that poses a significant risk to the financial system should be unregulated or weakly regulated. We need clear accountability in financial oversight and supervision. We propose: • A new Financial Services Oversight Council of financial regulators to identify emerging systemic risks and improve interagency cooperation. • New authority for the Federal Reserve to supervise all firms that could pose a threat to financial stability, even those that do not own banks. • Stronger capital and other prudential standards for all financial firms, and even higher standards for large, interconnected firms. • A new National Bank Supervisor to supervise all federally chartered banks. • Elimination of the federal thrift charter and other loopholes that allowed some depository institutions to avoid bank holding company regulation by the Federal Reserve. • The registration of advisers of hedge funds and other private pools of capital with the SEC. (2) Establish comprehensive supervision of financial markets. Our major financial markets must be strong enough to withstand both system-wide stress and the failure of one or more large institutions. We propose: • Enhanced regulation of securitization markets, including new requirements for market transparency, stronger regulation of credit rating agencies, and a requirement that issuers and originators retain a financial interest in securitized loans. • Comprehensive regulation of all over-the-counter derivatives.
Like the rest of the financial services industry, insurers are subject to increasingly complex and prescriptive regulations and standards. In the year ahead, insurers will need to focus on the new U.S.Department of Labor fiduciary standard, which is likely to have a significant effect on how insurance products are sold. Moreover, global developments, especially those related to the developing International Capital Standard, will require insurers to closely monitor – and ideally contribute to – official discussions about how globally active insurers should manage capital
Euro shorts 16.12.16 including Brexit: European Parliament briefing and Brexi...Cummings
Welcome to Euro Shorts, a short briefing on some of the week’s developments in the financial services industry in Europe.
If you would like to discuss any of the points we raise below, please contact me or one of our other lawyers.
Legal shorts 21.10.16 including criminal finances bill introduced and mld4Cummings
Welcome to Legal Shorts, a short briefing on some of the week’s developments in the financial services industry.
If you would like to discuss any of the points we raise below, please contact me or one of our other lawyers.
Claire Cummings
020 7585 1406
claire.cummings@cummingslaw.com
www.cummingslaw.com
Legal shorts 09.09.2015 including MiFID II: FCA publishes new webpage and new...Cummings
Welcome to Legal Shorts, a short briefing on some of the week’s developments in the financial services industry.
Listen to this week's Legal Shorts on CLTV by going to http://vimeo.com/cummingslaw
If you would like to discuss any of the points we raise below, please contact me or one of our other lawyers.
Euro shorts 09.09.16 including Brexit update: Theresa May meeting with Donald...Cummings
Welcome to Euro Shorts, a short briefing on some of the week’s developments in the financial services industry in Europe.
If you would like to discuss any of the points we raise below, please contact me or one of our other lawyers.
Euro shorts 29.01.16 including cameron attends last minute talks on uk eu mem...Cummings
Welcome to Euro Shorts, a short briefing on some of the week’s developments in the financial services industry in Europe.
If you would like to discuss any of the points we raise below, please contact me or one of our other lawyers.
Legal shorts 18.12.15 including mi fid ii fca first consultation and mifid ...Cummings
Welcome to Legal Shorts, a short briefing on some of the week’s developments in the financial services industry.
If you would like to discuss any of the points we raise below, please contact me or one of our other lawyers.
Euro Shorts 11.12.15 including Financial transaction tax update and BaFin tig...Cummings
Welcome to Euro Shorts, a short briefing on some of the week’s developments in the financial services industry in Europe.
If you would like to discuss any of the points we raise below, please contact me or one of our other lawyers.
Legal Shorts 11.12.15 including FCA makes changes to GABRIEL and FCA roundtab...Cummings
Welcome to Legal Shorts, a short briefing on some of the week’s developments in the financial services industry.
Listen to this week's Legal Shorts on CLTV by going to http://vimeo.com/cummingslaw
If you would like to discuss any of the points we raise below, please contact me or one of our other lawyers.
Legal shorts 06.11.15 including SM&CR authorised person definition for incomi...Cummings
Welcome to Legal Shorts, a short briefing on some of the week’s developments in the financial services
industry.
Listen to this week's Legal Shorts on CLTV by going to http://vimeo.com/cummingslaw
If you would like to discuss any of the points we raise below, please contact me or one of our other lawyers.
Euro shorts 06.11.15 including ESMA consultation on indirect clearing under ...Cummings
Welcome to Euro Shorts, a short briefing on some of the week's developments in the financial services
industry in Europe.
If you would like to discuss any of the points we raise below, please contact me or one of our other lawyers.
Euro shorts 16.10.15 including Bloomberg's Hedge Fund Start Up Breakfast and ...Cummings
Welcome to Legal Shorts, a short briefing on some of the week’s developments in the financial services industry.
Listen to this week's Legal Shorts on CLTV by going to http://vimeo.com/cummingslaw
If you would like to discuss any of the points we raise below, please contact me or one of our other lawyers.
Legal shorts 28.08.15 including esma update on waivers from mi fid pre trade ...Cummings
Welcome to Legal Shorts, a short briefing on some of the week’s developments in the financial services industry.
If you would like to discuss any of the points we raise below, please contact me or one of our other lawyers.
Claire Cummings
020 7585 1406
claire.cummings@cummingslaw.com
www.cummingslaw.com
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
how can i use my minded pi coins I need some funds.DOT TECH
If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. 👇 I and my friends has traded more than 3000pi coins with him successfully.
@Pi_vendor_247
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
BYD SWOT Analysis and In-Depth Insights 2024.pptxmikemetalprod
Indepth analysis of the BYD 2024
BYD (Build Your Dreams) is a Chinese automaker and battery manufacturer that has snowballed over the past two decades to become a significant player in electric vehicles and global clean energy technology.
This SWOT analysis examines BYD's strengths, weaknesses, opportunities, and threats as it competes in the fast-changing automotive and energy storage industries.
Founded in 1995 and headquartered in Shenzhen, BYD started as a battery company before expanding into automobiles in the early 2000s.
Initially manufacturing gasoline-powered vehicles, BYD focused on plug-in hybrid and fully electric vehicles, leveraging its expertise in battery technology.
Today, BYD is the world’s largest electric vehicle manufacturer, delivering over 1.2 million electric cars globally. The company also produces electric buses, trucks, forklifts, and rail transit.
On the energy side, BYD is a major supplier of rechargeable batteries for cell phones, laptops, electric vehicles, and energy storage systems.
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
How to get verified on Coinbase Account?_.docxBuy bitget
t's important to note that buying verified Coinbase accounts is not recommended and may violate Coinbase's terms of service. Instead of searching to "buy verified Coinbase accounts," follow the proper steps to verify your own account to ensure compliance and security.
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
Exploring Abhay Bhutada’s Views After Poonawalla Fincorp’s Collaboration With...beulahfernandes8
The financial landscape in India has witnessed a significant development with the recent collaboration between Poonawalla Fincorp and IndusInd Bank.
The launch of the co-branded credit card, the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card, marks a major milestone for both entities.
This strategic move aims to redefine and elevate the banking experience for customers.
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
how to sell pi coins at high rate quickly.DOT TECH
Where can I sell my pi coins at a high rate.
Pi is not launched yet on any exchange. But one can easily sell his or her pi coins to investors who want to hold pi till mainnet launch.
This means crypto whales want to hold pi. And you can get a good rate for selling pi to them. I will leave the telegram contact of my personal pi vendor below.
A vendor is someone who buys from a miner and resell it to a holder or crypto whale.
Here is the telegram contact of my vendor:
@Pi_vendor_247
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
2. www.cummingslaw.com
Introduction
Largely as a result of the FSA’s failing
performance during the financial crisis in 2008, it
was announced in June 2010 that the FSA would
be abolished in its current form and that three
new regulatory bodies would be established with
effect from 1 April 2013:
(i) the Financial Policy Committee (FPC);
(ii) the Prudential Regulation Authority (PRA);
and
(iii) the Financial Conduct Authority (FCA).
The PRA and the FCA will inherit the majority
of the existing functions carried out by the FSA,
with the result that the FSA Handbook will be
split between the PRA and FCA to form two new
Handbooks, one for the PRA and one for the FCA.
Financial Policy Committee (FPC)
The FPC will be a committee of the Bank of
England (BoE) and will monitor the financial
system as a whole. It will be responsible for
macro-prudential regulation and will focus on
identifying and managing macroeconomic and
other risks to the stability of the financial services
sector as a whole or to a significant part of the
sector.
It will respond to any such issues which arise
by directing the PRA (and the FCA where
appropriate) to take necessary action, which
may include the use of new macro-prudential
tools. The FPC will not have direct regulatory
responsibility for any particular type of firm.
Prudential Regulation Authority
(PRA)
The PRA, which will be a subsidiary of the
Bank of England, will be responsible for the
micro-prudential regulation and supervision of
systemically important firms i.e. banks, building
societies, insurers, credit unions and certain
investment firms with systemic importance.
These firms are commonly known as ‘dual-
regulated firms’, as they will also be regulated
by the FCA for conduct purposes. The general
objective of the PRA is to promote the safety and
soundness of regulated firms.
Financial Conduct Authority (FCA)
The FCA will adopt the legal corporate identity
of the FSA and will inherit most of the roles and
functions of the FSA. It will responsible for:
(i) the conduct of business regulation of all
firms, including dual-regulated firms;
(ii) the prudential regulation of firms not
regulated by the PRA (i.e. FCA-authorised or
FCA-only firms); and
(iii) it will inherit the majority of the FSA’s market
regulatory functions, including the role of the
UK listing authority (although responsibility
for settlement systems and recognised
clearing houses will be transferred to the
BoE). The strategic objective of the FCA is to
ensure that relevant markets function well,
while its three operational objectives are to
protect consumers, to protect the integrity
of the UK financial system and to promote
effective competition in the interests of
consumers.
The FCA will be the prudential and conduct
regulator for all other firms currently regulated
by the FSA, which will generally include fund
managers. It will be independent from the BoE.
The regulatory principles of the PRA
and FCA
The FCA and PRA will have a shared set of eight
regulatory principles which the regulators
must take into account when exercising their
regulatory functions in pursuit of their objectives,
as follows:
FSA: Regulatory Reform
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Principle 1 (the “efficiency” principle): the need to
use the resources of each regulator in the most
efficient and economic way.
Principle 2 (the “proportionality” principle): the
imposition of a burden or restriction should be
proportionate to the benefits.
Principle 3 (the “sustainable growth” principle):
the desirability of sustainable growth in the
economy of the UK in the medium or long term.
Principle 4 (the “consumer responsibility”
principle): the general principle that consumers
should take responsibility for their decisions.
Principle 5 (the “responsibilities of senior
management” principle: the responsibilities of
the senior management in relation to compliance
with those requirements.
Principle 6 (the “recognition of business
differences” principle): each regulator should
recognise differences in the nature of, and
objectives of, businesses carried on by different
persons.
Principle 7 (the “openness and disclosure”
principle): publishing information, or requiring
persons to publish information, as a means
of contributing to the advancement by each
regulator of its objectives.
Principle 8 (the “transparency” principle): the
regulators should exercise their functions as
transparently as possible, as well as be “more
open and accessible” to both the regulated
community and the general public.
These principles are not intended to impose
burdens or requirements on firms or consumers,
but are matters which the regulators much have
regard to when exercising their general functions.
Co-ordination between the FCA
and PRA
The decision to split the majority of the FSA’s
current functions between the FCA and PRA
will require the two regulatory bodies to co-
ordinate their activities closely and they have a
statutory duty to do so, including where one of
the regulators is considering action which may
have an adverse material affect on the other’s
achievement of its objectives or in connection
with the exercise of their functions under FSMA.
The FCA and PRA must agree and publish a
memorandum of understanding on how they will
deliver their statutory duty to co-operate and this
MoU has to be reviewed annually.
Further, each of the chief executives of the
FCA and PRA will sit on the other regulator’s
board, although they will not be able to vote
on firm-specific issues, and there will be a
general obligation to share information with
each other and arrangements must be put
in place for regulatory data collection under
the memorandum of understanding to avoid
duplication.
It is envisaged that the FCA and PRA will also
need to co-operate with the BoE more generally
on certain issues, such as the gathering and
sharing of information.
New FCA interventionist approach
Important philosophical changes will be
embedded in the FCA’s supervisory model,
which will include moving away from the FSA’s
retail conduct philosophy and going beyond the
“buyer beware” principle to ensure integrity of
the wholesale markets, the five main elements of
which are as follows:
(i) being more forward-looking in its assessment
of potential problems;
(ii) earlier intervention when it sees problems;
(iii) attacking the underlying causes of problems,
not just the symptoms;
(iv) securing redress for consumers if failures do
occur; and
(v) taking meaningful action against firms that
fail to meet FCA standards through fines.
It will also adopt a pre-emptive approach to
supervision which will be based on making
forward-looking judgements about firms’
business models, product strategy and how
they run their businesses, to enable the FCA
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to identify and intervene earlier to prevent
problems crystallising and to be robust when
things do go wrong. The FCA also intends to
address the root causes of problems by seeking
to obtain a deeper understanding of underlying
commercial and behavioural drivers and the
causes of poor outcomes for consumers.
With regard to regulation, the FCA will take a
risk-based approach, which means the FCA will
make decisions and take action based on the
risks to the FCA in meeting its objectives. The FCA
will not seek to, or be able to, prevent or control
everything that causes harm to consumers or
financial markets. The FCA also intends to take
a more assertive and interventionist approach
to risks caused by wholesale activities and, if
necessary, will act to protect a wider range of
client relationships than the FSA does at present.
Its wholesale role will also apply to exchange-
operated markets and over-the-counter
(OTC) dealing.
New FCA powers
As part of its new interventionist approach, the
FCA will be given a number of powers additional
to those currently held by the FSA, including
powers to:
(i) make temporary product intervention rules,
allowing it to block an imminent product
launch or to stop an existing product;
(ii) require firms to withdraw or amend
misleading financial promotions;
(iii) impose requirements on certain unregulated
parent undertakings which exert influence
over authorised persons; and
(iv) publish details of the start of enforcement
proceedings against a firm for rule breaches
or compliance failings (although the PRA will
also have this power).
The FCA will also have additional powers to
enhance its operational objective to promote
competition.
Categorisation
Conduct supervision categorisation
The FCA will categorise all regulated firms into
four categories for their conduct supervision:
C1, C2, C3 and C4, with C1 firms subject to the
most intensive supervision and C4 firms the least.
The following firms are likely to fall within
each category:
(i) C1 firms: Banking and insurance groups with
a very large number of retail customers and
universal/investment banks with very large
client assets and trading operations.
(ii) C2 firms: Firms across all sectors with a
substantial number of retail customers and/
or large wholesale firms.
(iii) C3 firms: Firms across all sectors with retail
customers and/or a significant wholesale
presence.
(iv) C4 firms: Smaller firms, including almost all
intermediaries.
(v) The vast majority of firms will be categorised
as C3 or C4 and the FCA’s approach will be
similar to the FSA’s current approach to small
firms, as they will be supervised by a team of
sector specialists. The FSA will contact firms
in early 2013 to let them know how they will
be categorised by the FCA.
Prudential supervision categorisation
The FCA will categorise all the firms for which
it has prudential responsibility into three
categories: CP1, CP2 and CP3, with CP1 firms
subject to the most intensive prudential
supervision and CP3 firms the least. The
categories can be described as follows:
(i) Prudentially critical firms (CP1): firms where
a disorderly failure would have a significant
impact on the market in which they operate.
This might be the case because a particular
market is highly concentrated or where
there are significant client assets and money
holdings. The FCA will work closely with
these firms to reduce the probability of
their failure.
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(ii) Prudentially significant firms (CP2): firms
where a disorderly failure would have a
significant impact on the functioning of the
market in which they operate, but there is
a smaller client asset and money base or an
orderly wind-down can be achieved.
(iii) Prudentially insignificant firms (CP3): firms
where failure, even if disorderly, is unlikely to
have significant impact.
The FCA’s approach to prudential supervision
will be based on managing failures when
they happen, rather than on reducing their
probability, on the basis that the a failure of an
FCA-authorised firm (other than a CP1 firm) will
usually not present a risk to the integrity of the
financial system.
New FCA and PRA Handbooks
The FCA and PRA will each have a separate
handbook of rules and the FCA will also have
its own guidance. In the short term, both the
FCA and PRA will adopt relevant parts of the
FSA Handbook, with some parts being shared
between them, and only minimal changes will
be made to the current rules where necessary
to reflect the new regulatory structure. Both
regulators have stated, however, that they
intend to review their handbooks once they
are formally established.
FCA Register
The FCA will maintain a single register, the
equivalent of the current FSA register, which will
cover all FCA-authorised firms and dual-regulated
firms, as well as approved persons, and Current
details on the FSA Register will be carried across
to the new FCA Register after legal cutover.
The FCA Register will not include details of
recognised clearing houses, as these will be
regulated by the BoE, as mentioned above.
The PRA will be required to provide information
to the FCA to assist it in its obligations to
maintain the register
FCA online systems
The FCA will continue to use the existing FSA
systems, such as GABRIEL and ONA, and the way
in which they are used will not change and the
home pages for the FSA online systems will move
to the FCA website with links also available on
the PRA website.
Firm reference numbers, individual reference
numbers and user logins will stay the same and
no systems are being replaced. The contact
centre telephone number for firms will also
remain the same.
From 1 April 2013 most FSA systems will be
updated to show the new FCA and PRA logos
and branding.
Impact on FSA-authorised firms
The FSA will remain the UK regulator until the
legislation is implemented on legal cutover,
namely 1 April 2013. In its consultation paper
CP13/3, published in January 2013, the FSA
indicated that it was working on the assumption
that existing Part IV permissions, controlled
functions, rule waivers and modifications,
passports, limitations and requirements would
be grandfathered to the new regulator(s), which
means that firms will not need to re-apply to the
FCA or the PRA for their existing authorisations
and regulatory approvals.
According to CP13/3:
(i) actions taken before legal cutover by firms,
or other persons to whom the FSA rules
apply, will remain effective after the FCA and
PRA Handbooks come into force. Thus, if
either Handbook requires a firm to submit a
report that was submitted to the FSA before
legal cutover, it will be treated as if it had
been submitted to the new regulator;
(ii) for FCA-only firms, existing approvals will
be carried forward to the FCA and will be
deemed to have been given by the FCA; and
(iii) for dual-regulated firms, existing CF2s
(non-executive directors) will be deemed
to have been approved by the FCA. All
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other significant influence functions will
be transitioned according to the following
principles:
(a) each approved person will be deemed
to have been given approval by the
regulator that will in future specify that
particular controlled function into rules;
and
(b) where there are changes between the
FSA framework of controlled functions
and the new PRA and FCA frameworks,
firms will not be required to take action
to switch existing people to the new
framework of functions while they
remain in their current role.
Dual-regulated firms under the new regime
will face the most disruption, as they will need
to adapt to supervision by two regulators and
the fact that regulatory processes such as the
approved persons regime will be split between
the FCA and the PRA. Firms which will be
regulated by the FCA only will have a similar
relationship with the FCA as they currently have
with the FSA.
However, in the long term, all firms will be
affected by the new supervisory models that the
FCA and PRA intend to introduce and the impact
of the additional powers for the regulators being
introduced by the reforms.
As with the FSA, firms will be required to provide
appropriate details about their regulatory status
under the new regime, as follows:
(i) for an FCA-authorised firm, it is proposed
that the required disclosure is “Authorised
and regulated by the Financial Conduct
Authority”; and
(ii) for a PRA-authorised firm, the required
disclosure will be “Authorised by the
Prudential Regulation Authority and
regulated by the Financial Conduct Authority
and Prudential Regulation Authority”.
The FSA has stated that it intends to allow a
transitional period of six months after legal
cutover for firms to make the necessary changes
to their relevant business stationery and to any
electronic equivalents.
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This document is for general guidance only. It does not constitute advice
February 2013