Insurers Down but Not Out

Against regulatory pressures, insurers plan to meet challenges of a sluggish economy, weak pricing environment, and inability to generate underwriting profits with organic growth strategies.…Additional concerns also linger over the risk associated with regulatory reform, chiefly those reforms that affect shifting capital requirements, accounting valuation and disclosure, convergence of insurance contract standards and solvency modernization initiatives… Read More

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Thune sponsors bill to benefit ‘job creators’ and cut red tape

Sen. John Thune introduced a bill Wednesday that he said would make it easier for businesses to raise capital. Thune, R-S.D., has sponsored the Access to Capital for Job Creators Act (S. 1831), which he said in a press release would reduce regulatory burdens facing small businesses by updating Securities and Exchange Commission (SEC) regulations. The House of Representatives passed the legislation 413-11 on Nov. 3. “Small businesses are the engines of our economy, but government red tape is currently preventing these businesses from creating even more jobs,” said Thune… Read More

Business Bermuda Builds Ties In South Africa

Business Bermuda hosted an exhibition booth at Africa’s largest hedge funds conference and spoke to leading members of South Africa’s growing alternative investment industry, leading hedge fund managers from Africa and abroad, investment banks, prime brokers and institutional investors. Cheryl Packwood, chief executive officer of Business Bermuda talked with conference attendees about the issues facing African alternative investment and fund industry and discussed the opportunities found in Bermuda including its high standards of regulation, tax neutrality, high
levels of transparency and disclosure… Read More

Will Wall Street, Regulators Learn the Lessons From the MF Global Collapse?

Very few Americans had heard of MF Global before the futures brokerage imploded last week, becoming the largest Wall Street
failure since the epic collapse of Lehman Brothers three years ago. While MF Global’s bankruptcy didn’t trigger the scary
chain-reaction that Lehman’s did, the investment portfolios of countless Americans could be impacted by the willingness of regulators and Wall Street executives to learn some harsh lessons from the MF Global episode. Shockingly, just three years after the 2008 financial crisis, MF Global exposed Wall Street’s continued addiction to leverage and… Read More

CBK cancels licences of four forex bureaus

The Central Bank of Kenya (CBK) has revoked licences of four foreign exchange bureaus as tough regulation and increased capital requirements drive some players out of business. CBK announced on Friday it had cancelled the licences of Overseas Forex Bureau, Blue Nile, Alok and Amazon. The bank has tightened regulation the industry by raising the threshold of reporting requirements to check cases of money laundering while also increasing minimum capital levels to improve financial strength… Ream More

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