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  • SIFMA Statement On Confirmation Of Richard Clarida

    Date 29/08/2018

    SIFMA today released the following statement from Kenneth E. Bentsen, Jr., SIFMA president and CEO, on the Senate confirmation of Richard Clarida as Vice Chairman of the Federal Reserve board.

  • Office Of The Comptroller Of The Currency Bulletin: Credit Risk: Informal Or Implied Support From Foreign Governments (Implied Sovereign Support)

    Date 28/08/2018

    Summary

    The Office of the Comptroller of the Currency (OCC) is issuing guidance to national banks, federal savings associations, and federal branches and agencies (collectively, banks) regarding the role of informal or implied expressions of support from foreign governments (implied sovereign support) in determining a borrower’s obligor and facility credit risk ratings. Because implied sovereign support is not a legally binding guarantee, this guidance reminds banks that such expressions of informal or implied support should be viewed as no more than a mitigating factor when evaluating a borrower’s credit risk.

  • IronFX And EmurgoHK Create Joint Venture With Launch Of New Crypto Exchange

    Date 28/08/2018

    IronFX and EmurgoHK intend to launch their regulated exchange as a seamless bridge between crypto and traditional online trading. The new destination, called IronX, will operate as a regulated, service-focused exchange, creating a highly efficient trading ecosystem that facilitates funding via both FIAT and Crypto. Against the successful ongoing private IRX Token sale, IronX is aiming to launch as early as Q4 2018.

  • U.S. Justice Department Announces Deferred Prosecution Agreement With Basler Kantonalbank - Bank Admits To Helping U.S. Taxpayers Conceal Income And Assets From The United States; Agrees To Pay $60.4 Million

    Date 28/08/2018

    Basler Kantonalbank (BKB), a bank headquartered in Basel, Switzerland, entered into a deferred prosecution agreement (DPA) that was approved today by the U.S. District Court for the Southern District of Florida, announced Principal Deputy Assistant Attorney General Richard E. Zuckerman of the Department of Justice’s Tax Division, United States Attorney Benjamin G. Greenberg, and Chief Don Fort for Internal Revenue Service-Criminal Investigation.  As part of the agreement, Basler Kantonalbank will pay $60.4 million in total penalties.  

  • Thomson Reuters Announces Substantial Issuer Bid/Tender Offer For Up To US$9 Billion Of Its Common Shares

    Date 28/08/2018

    • Up to US$9 billion to be returned to shareholders via substantial issuer bid/tender offer (SIB) to commence today
    • Price range for the SIB of US$42.00 to US$47.00 per share represents a (0.4)% to 11.5% premium over the company’s volume weighted average price on the NYSE over the last 20 trading days
    • Woodbridge to participate in the SIB on a basis proportionate with its 64% ownership in Thomson Reuters
    • SIB expected to be completed on October 2, 2018 and is subject to closing of the previously announced Financial & Risk/Blackstone transaction and is being launched now to coordinate with that closing