News Centre

OCC Assesses $25 Million Penalty Against Bank Of America, N.A. And FIA Card Services, N.A. - Orders $459.5 Million In Restitution To Customers For Unfair Billing Practices

Date 09/04/2014

The Office of the Comptroller of the Currency (OCC) today assessed a $25 million penalty against Bank of America, N.A., Charlotte, North Carolina, and its credit card subsidiary FIA Card Services, N.A., Wilmington, Delaware, (collectively, the bank), and ordered restitution totaling approximately $459.5 million to 1.9 million consumer accounts.

SEC Charges Hewlett-Packard With FCPA Violations - Company To Pay $108 Million To Settle Civil And Criminal Cases

Date 09/04/2014

The Securities and Exchange Commission today charged Hewlett-Packard with violating the Foreign Corrupt Practices Act (FCPA) when its subsidiaries in three different countries made improper payments to government officials to obtain or retain lucrative public contracts.

OCC Bulletin: Oil And Gas Production Lending: New Comptroller's Handbook Booklet And Rescissions

Date 09/04/2014

Summary

The Office of the Comptroller of the Currency (OCC) issued today the “Oil and Gas Production Lending” booklet, which is new to the Comptroller’s Handbook. This booklet provides guidance on oil and gas production lending, including an overview of oil and gas markets, lending structures, types of reserves, associated risks, and supervisory expectations for risk management.

World Economic And Financial Surveys - Global Financial Stability Report - Moving From Liquidity- To Growth-Driven Markets, April 2014

Date 09/04/2014

The April 2014 Global Financial Stability Report (GFSR) assesses the challenging transitions that the global financial system is currently undergoing on the path to greater stability. Chapter 1 finds that these transitions are far from complete, and stability conditions are far from normal. For advanced and emerging market economies alike, a successful shift from liquidity-driven to growth-driven markets requires a number of elements. The report discusses these elements, including: a normalization of U.S. monetary policy that avoids financial stability risks; financial rebalancing in emerging market economies amid tighter external financial conditions and higher corporate debt levels; further progress in the euro area’s transition from fragmentation to robust integration; and the successful implementation of Abenomics in Japan to deliver sustained growth and stable inflation. 

WSE Ranks Second In Europe By Number Of IPOs In Q1 2014

Date 09/04/2014

• WSE was Europe’s #2 by the number of IPOs in Q1 2014

DFM Company Disclosure On Reuters Report About Potential Merger Between DFM And ADX

Date 09/04/2014

With reference to the above mentioned subject, we would like to inform you that DFM is not involved in any of the discussions that had been taking place by the representatives of the governments of Dubai and Abu Dhabi or it is party to any negotiations.

State Aid: European Commission Approves Amendments To Restructuring Plan Of Royal Bank Of Scotland

Date 09/04/2014

The European Commission has concluded that proposals by UK authorities to amend Royal Bank of Scotland's (RBS) restructuring plan are in line with EU state aid rules. The Commission has found that a delay of the divestment of RBS's UK SME bank entity Rainbow will not jeopardise the viability of the business. The Commission has also agreed to changes of the terms of the priority dividend received by the UK. The changes endorsed today better align the incentives of RBS with those of the UK without resulting in lower dividends as compared to what RBS could realistically be expected to pay under the existing terms.

ESMA Publishes 15th Extract Of EECS' Enforcement Decisions

Date 09/04/2014

The European Securities and Markets Authority (ESMA) is publishing extracts from its confidential database of enforcement decisions on financial statements, with the aim of providing issuers and users of financial statements with relevant information on the appropriate application of the International Financial Reporting Standards (IFRS).

European Parliament: Background Note On Banking Union And Bank Common Rules

Date 09/04/2014

The last plenary session of this legislature will see votes on three key deals to ensure that banks themselves, and not taxpayers, are first in line to pay the costs of their misfortunes. On Tuesday MEPs will vote to approve two laws dealing with restructuring and winding up troubled banks and an update to the scheme which guarantees deposits under €100,000. This note details these three pieces of legislation, which together move the EU many steps closer to completing banking union.

Euronext To Wind Down Alternext Amsterdam

Date 09/04/2014

Euronext, a wholly owned subsidiary of IntercontinentalExchange Group (NYSE: ICE), today announced that, following a strategic review, it will wind down Alternext 1 Amsterdam by the end of the year, or as soon as possible thereafter.