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UKGC revokes operating licence of MaxEnt

Lessons from MaxEnt Limited’s licence revocation - change of corporate control and source of funds concerns. Operators are being reminded of the importance of being able to prove to the Gambling Commission legitimate source of funds when acquiring or investing in gambling businesses. MaxEnt Limited (MaxEnt) applied for a continuation of their licence following a [...]

January 27th, 2020|Comments Off on UKGC revokes operating licence of MaxEnt

Second firm admits illegal role in agreement for essential drug

Drug company Tiofarma has admitted that it took part in an agreement that resulted in significant price hikes for an essential medicine. This means that 2 of the 3 companies under investigation by the Competition and Markets Authority (CMA) have now admitted to an allegation that they illegally took part in an anti-competitive agreement. The [...]

January 27th, 2020|Comments Off on Second firm admits illegal role in agreement for essential drug

Results of the Q1 2020 ECB Survey of Professional Forecasters

Expectations for euro area inflation, growth and unemployment broadly unchanged Respondents to the ECB Survey of Professional Forecasters (SPF) for the first quarter of 2020 reported point forecasts for annual HICP inflation averaging 1.2%, 1.4% and 1.5% for 2020, 2021 and 2022, respectively. For 2020 and 2021, which were also surveyed in the previous (Q4 [...]

January 24th, 2020|Comments Off on Results of the Q1 2020 ECB Survey of Professional Forecasters

SEC Publishes Annual Reports on Credit Rating Agencies

Two annual U.S. Securities and Exchange Commission (SEC) staff reports released today highlight the important work of the Office of Credit Ratings in examining and monitoring nationally recognized statistical rating organizations (NRSROs). The reports indicate that the NRSROs made certain improvements in response to the staff's examinations and that both the range of NRSROs issuing commentaries [...]

January 24th, 2020|Comments Off on SEC Publishes Annual Reports on Credit Rating Agencies

Euro banknote counterfeiting remained low in the second half of 2019

308,000 counterfeit euro banknotes were withdrawn from circulation in the second half of 2019 Over 70% of those counterfeits were €20 and €50 banknotes Euro banknotes continue to be a trusted and safe means of payment All euro banknotes can be verified using the “feel, look and tilt” method Some 308,000 counterfeit euro banknotes were [...]

January 24th, 2020|Comments Off on Euro banknote counterfeiting remained low in the second half of 2019

Christopher Woolard appointed Interim FCA Chief

HM Treasury, following advice of the Board of the Financial Conduct Authority (FCA), has appointed Christopher Woolard as Interim Chief Executive. Chris will take on the Chief Executive role following Andrew Bailey’s departure to become Governor of the Bank of England. Chris is currently the FCA’s Executive Director of Strategy and Competition and an Executive member of the [...]

January 24th, 2020|Comments Off on Christopher Woolard appointed Interim FCA Chief