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Credit Suisse To Pay $745Mn For Misleading Investors, FCPA Violations

Credit Suisse Group AG has agreed to pay nearly $475 million to U.S. and U.K authorities, including nearly $100 million to the Securities and Exchange Commission (SEC), for fraudulently misleading investors and violating the Foreign Corrupt Practices Act (FCPA) in a scheme involving two bond offerings and a syndicated loan that raised funds on behalf […]

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NCC Cautions Subscribers On NIN Linkage To Third Party’s SIM Card

The Nigerian Communications Commission (NCC) has cautioned telecoms subscribers in the country not to allow their National Identification Number (NIN) to be linked to another person’s Subscriber Identity Module (SIM) card, no matter how close the person may be to them. The telecom industry regulatory commission gave the warning during its third run Telecom Consumer […]

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EFCC May Grill Tinubu, Bagudu, Oduah, Others Over Pandora Papers’ Allegations

There are strong indications that some of the top gladiators in the nation’s political tuff and   elected officials allegedly indicted in the Pandora Papers may have been given dates by Economic and Financial Crimes Commission (EFCC) to appear before it and defend themselves over allegations levelled against them on their stakes in offshore companies and […]

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SEC, EFCC Collaborate On Capital Market Devt

The Securities and Exchange Commission Nigeria (SEC) has organized a capital market training for employees of the Economic and Financial Crimes Commission (EFCC) as part of its regulatory measures  to ensure that financial crimes are reduced to the barest minimum in the nation’s capital market. Speaking during the opening session of the  one-day training with […]

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Anxiety Over Georgieva’s Status As IMF-W/Bank Meeting Kicks Off

There are strong indications that the week-long International Monetary Fund (IMF) and World Bank Group annual meetings will kick off today amid anxieties among attendees as  data-rigging allegations levelled against IMF Managing Director, Kristalina Georgieva, may impact the opening of meetings in Washington, D.C, United States. The meetings will be opened despite the fact that […]

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U.S SEC Charges Hemp Firm, Co-Founders With $15Mn Fraud

The U.S Securities and Exchange Commission (SEC) has charged CanaFarma Hemp Products Corp. and its co-founders with fraudulently raising approximately $15 million from investors, and misappropriating a significant portion of the investor funds for personal use and other unrelated purposes. The SEC’s complaint alleges that in 2019 and 2020, CanaFarma, a Canadian startup hemp company […]

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U.S SEC Seeks Form N-PX Amendments To Enhance Proxy Voting Disclosure By Investment Funds

The Securities and Exchange Commission on Wednesday proposed amendments to Form N-PX to enhance the information mutual funds, exchange-traded funds, and certain other funds report about their proxy votes. A statement the commission indicated that proposed rulemaking would require funds to tie the description of each voting matter to the issuer’s form of proxy and […]

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World’s Largest Advert Group To Pay Over $19Mn For Regulatory Infractions

London-based WPP Plc, the world’s largest advertising group, has agreed to pay more than $19 million to resolve charges that it violated the anti-bribery, books and records, and internal accounting controls provisions of the Foreign Corrupt Practices Act (FCPA). The US Securities and Exchange Commission (SEC) on Friday made the disclosure, having earlier charged the […]

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U.S SEC Awards $11.5Mn To Two Whistleblowers

The U.S Securities and Exchange Commission (SEC) at the weekend announced awards of approximately $11.5 million to two whistleblowers whose information and assistance contributed to the success of an SEC enforcement action.   The first whistleblower received an award of nearly $7 million, while the second whistleblower received more than $4.5 million. The investments market […]

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CSEA Tasks Buhari On Food Insecurity, As Banditry Heightens

The Centre for the Study of the Economies of Africa (CSEA), a leading think-tank organization with special focus on economic development trends in Africa, has charged the President Muhammadu Buhari-led government to frontally tackle the increasingly worrisome insecurity rate in the country in order to guarantee food security for Nigerians. The research firm, in its […]