Super-watchdog gets some teeth
Article Abstract:
The legal framework designed to support the new Financial Services Authority (FSA) is contained in the UK government's draft Financial Services and Markets Bill. The FSA will have extensive powers to levy unrestricted fines on those who attempt to manipulate the financial markets, and will be able to monitor the rules and practices of companies and exchanges for anti-competitive effects. Its creation will lead to the abolition of all the existing nine financial services regulators.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1998
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Offshore banking no longer in vogue
Article Abstract:
Malta is keen to emphasize that it is no longer an offshore financial centre. It has not been possible to register new offshore companies in Malta since 1996, and tax-free guarantees for existing offshore companies expire in Mar 2004. Considerable efforts are now being made to enhance Malta's status as a financial centre, promoting it as being transparent and trustworthy and as meeting European Union standards.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1998
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