Regulatory Financial News

regulatory approval processes in the UK impact India's exports of medical devices to the British market, think tank GTRI said on Wednesday. To promote exports of these devices, it said, India should negotiate a Mutual Recognition Agreement (MRA) to expedite the entry of these equipment into the UK market, particularly for devices with CDSCO (Central Drugs Standard Control Organisation ) licence or Quality Council of India's Indian Certification of Medical Devices (ICMED) certification.

Bitcoin, the flagship cryptocurrency, has been demonstrating robust performance, maintaining a strong position above the $37,000 threshold. This bullish trend contributes significantly to the global cryptocurrency market cap, which has recently seen a 0.52% increase, soaring to $1.42 trillion.

OneWeb has been granted the necessary regulatory approvals from the Indian National Space Promotion and Authorization Centre (IN-SPACe) to launch commercial broadband services in India. OneWeb, which has recently completed a merger with France’s Eutelsat, has become the first entity in India to be granted the approval from IN-SPACe. With approval from IN-SPACe, the Eutelsat OneWeb has secured all the necessary permissions and now needs spectrum allocation from the Department of Telecommunications (DoT) to commence commercial connectivity services. IN-SPACe is the agency of the Government of India, responsible for regulating space activities and granting authorisation for conducting the space activities in the country. Bharti Group Chairman and Vice-President (Co-Chair) of the Board of Directors of Eutelsat Group, Sunil Bharti Mittal, said Eutelsat OneWeb is ready to deploy as soon as it receives the final spectrum authorization to launch commercial services. Any entity which wants to offer satcom services in India must get approvals from IN-SPACe, a global mobile personal communication by satellite services (GMPCS) licence and spectrum from the DoT.

Aurobindo Pharma Ltd lifted investor sentiments and the share prices gained of Aurobindo Pharma gained more than 1% in morning trades on Monday, on a day when benchmark indices were trading in red. Aurobindo Pharma in its filing on the exchanges said that United States Food and Drug Administration (US FDA) conducted a Pre-Approval Inspection (PAI) at Unit-I & III, Formulation manufacturing facility, of APL Healthcare Ltd., a wholly owned subsidiary of the Company, situated in the Mahabubnagar District, Telangana,, from November 13 to 17, 2023. The inspection closed with zero observations and a classification of “No Action Indicated" (NAI).

credit cards, and lending to nonbank finance companies (NBFCs) by 25 percentage points. This will likely lead to higher lending rates, lower credit growth, and increase the need for capital raising among weak lenders, it said. The reports projects that higher risk weights will ultimately support asset quality.

The International Organization of Securities Commissions (IOSCO) — an international regulatory body overseeing global securities markets — has released its conclusive report containing policy suggestions for crypto and digital asset (CDA) markets.

José Ribeiro, the CEO of the cryptocurrency exchange Coinext, shared his perspective on Bitcoin and the crypto landscape in Brazil during the Web Summit in Lisbon.

Cryptocurrency may be "out of fashion", but it still draws new users to Web3 every day, in particular in emerging markets such as Brazil, according to Bitcoin maximalist José Ribeiro, CEO of crypto exchange Coinext. 

InGovern has said that a reading of Religare Enterprises' annual reports shows its chairperson Rashmi Saluja earned «excessive» compensation, and that there were regulatory breaches and non-disclosures by the financial services company in which the Dabur promoter family is seeking to enhance its equity ownership through a mandatory open offer to minority stockholders. InGovern estimated the value of Saluja's stock options of Religare and of its subsidiary Care Health Insurance over the past 3-4 years at ₹480 crore.

InGovern Research has raised a red flag against Religare Enterprises alleging «vested interest» of its Chairman Rashmi Saluja due to excessive remuneration as well as regulatory breaches. In the last 3-4 years, the total valuation of options of Religare Enterprises Ltd (REL) and its subsidiary Care Health Insurance Limited (CARE) to Saluja is over Rs 480 crore, which is in addition to compensation paid at REL, said a report from InGovern. Shares of CARE were issued to Saluja through ESOPs, despite rejection from IRDAI (Insurance Regulatory and Development Authority of India) and no approval from the shareholders of REL was also taken for that, said InGovern in its report.

(Reuters) — Lithium miner Livent (NYSE:LTHM) said on Tuesday its proposed $10.6 billion merger with Australia's Allkem had received all the required pre-closing regulatory approvals.

Maharashtra Congress demanded that the state government set up a committee to prepare a legal and regulatory framework to deal with deepfakes generated by artificial intelligence. In a post on X, the party's state unit general secretary Sachin Sawant said a separate machinery is needed to identify deepfakes and expose them.

The Chief Executive Officer of Ripple, Brad Garlinghouse, has voiced his disagreement with the regulatory posture taken by Jay Clayton, who formerly served as Chair of the US Securities and Exchange Commission (SEC). This criticism surfaced in response to statements made by Clayton during an interview with CNBC on June 29, 2023. Clayton was discussing the SEC's more aggressive legal stance against corporations, especially those operating in the cryptocurrency industry.

A Financial Conduct Authority spokesperson told Investment Week: 'We continue to work with government on their consultation for a regulatory regime for ESG ratings providers.' Simon Dawson / No 10 Downing Street

The US Securities and Exchange Commission (SEC) has tried regulating the crypto space through enforcement actions in the last three years.

By Lewis Jackson

The United States Commodity Futures Trading Commission (CFTC) has turned its attention to how companies handle customer assets.

The state of Pennsylvania will work with a major natural gas producer to collect in-depth data on air emissions and water quality at well sites, enhance public disclosure of drilling chemicals and expand buffer zones

The United States Securities and Exchange Commission (SEC) has issued a subpoena to global payment giant, PayPal over its newly launched stablecoin, PYUSD.

Hong Kong is mapping out clear guidelines for tokenization and digital assets. The city aims to achieve a mix of innovation and consumer protection for both the developers and the users. This initiative, as part of a broader push, is steered towards placing Hong Kong at the center of fintech evolution in Asia.

The UK government has issued a comprehensive response to its consultation on crypto asset regulation, unveiling a final regulatory framework based on input from businesses, experts, and significant market events, including the ongoing FTX court case.