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.

Laws, regulations and rules, Independent regulatory commissions

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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.

Malta

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