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News >> Business Ethics and Corporate Culture

The Australian Securities and Investments Commission (ASIC) has announced that it concluded an "enhanced adviser monitoring program" for Australian financial services licensee Professional Investment Services Pty Ltd (PIS).

The United Kingdom Equality and Human Rights Commission (EHRC) has published Appointments to Boards and Equality Law (July 2014), which "aims to provide guidance on the equality law framework within which appointments to boards must be made".

The United States Financial Conduct Authority (FCA) has announced that it has banned two firms from recruiting Appointed Representatives (ARs) and individual advisers in what is the FCA's first exercise of its suspension powers.

Published in Consumer Protection

The New York State Attorney General's office (OAG) has made available a joint statement (25 July 2014) by Attorney General Eric Schneiderman and state financial services superintendent Benjamin Lawsky regarding an agreement (25 July 2014) reached with app-based ride-sharing service provider Lyft.

Published in Consumer Protection

The White House has made available Closing Corporate Tax Loopholes (26 July 2014), the text of United States President Barack Obama's latest weekly address at the White House.

Published in Financial Integrity

The United Kingdom Office of Gas and Electricity Markets (Ofgem) has made available an open letter (24 July 2014) regarding the independent review (July 2014) of distribution network operators' (DNOs) performance during the December 2013 UK storms. According to Ofgem, the review finds that the southern UK operations of DNOs SSE and UKPN "could have done more to get customers reconnected faster and to keep them better updated on what was happening".

Published in Consumer Protection

The China Food and Drug Administration has asked local authorities to examine food processing facilities associated with supplier Shanghai Husi Food (Shanghai Husi) following reports that the company supplied several fast food chains with products containing expired meat.

Published in Consumer Protection

The Australian Securities and Investments Commission (ASIC) has announced that it accepted an enforceable undertaking (6 February 2013) (the EU) offered by the Royal Bank of Scotland plc and the Royal Bank of Scotland N.V. (collectively, RBS) in relation to potential misconduct involving Australian benchmark interest rate the Bank Bill Swap Rate (BBSW).

The Tokyo District Court has sentenced former Deutsche Securities salesperson Shigeru Echigo to ten months in prison for bribing a fund executive to purchase investment products. Mr Echigo pleaded guilty in April 2014 to charges that he spent approximately JPY900,000 entertaining the executive on 15 occasions in 2012.

A jury in the United States state of Florida has ordered R.J. Reynolds Tobacco Company to pay a surviving spouse US$23 billion in punitive damages for the deceased's death.

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