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Regulation News

NY fines UAE's largest bank over lax money-laundering safeguards

New York - New York state financial regulators on Wednesday fined the Dubai-based Mashreqbank $40 million, saying it cleared millions of high-risk transactions with scant safeguards against money laundering and terrorism finance.

UK sandwich chain changes labelling after allergy death

London - British sandwich shop chain Pret a Manger said Wednesday it would list all ingredients, including allergens, on its products after a teenage girl died in 2016 from an allergic reaction.

PwC survey reports adoption of blockchain technology is stalling

Regulation is proving to be the biggest sticking point in the deployment of blockchain solutions for businesses globally, with 84 percent of executives surveyed saying their companies are "actively involved" with the technology.

Electric scooter startups are about to run into Trump tariffs

As electric scooter-rental startups like Bird and Lime battle for market share on American streets, in a matter of days, the budding companies will be slammed with a slew of Trump tariffs.

Amazon: Not our job to worry about fears we're killing retailers

Amazon's senior vice president Russell Grandinetti said it's up to society and government to figure out how to handle the company's becoming a $178 billion disruptor in the retail sector.

Utilities in Europe to use long-distance drones for inspections

European utility companies are looking at using long-distance drones to inspect thousands of miles of grids and pipelines for damage and leaks in an attempt to avoid network failures that cost them billions of dollars a year

Brexit uncertainty for pharmaceutical companies

Of the different sectors of the British economy affected by the U.K.’s impending exit from the European Union, the pharmaceutical sector is one of the most significant. This relates to the value of the market and the regulatory impact.

Salesforce CEO says Facebook should be regulated like cigarettes

Salesforce CEO Marc Benioff has called for Facebook and other social networks to be regulated. He likened the addictive nature of social media to the cigarette industry, saying there are "a lot of parallels" between the two.

EU Parliament fails to skewer kebab meat phosphates

Strasbourg - The European Parliament on Wednesday narrowly failed to block a proposal to allow the use of phosphates in kebab meat, an additive which critics say is linked to heart disease.

EU watchdog OKs cancer drugs without evidence they work: study

Paris - European regulators approved 39 new cancer drugs between 2009 and 2013 despite having no evidence that they worked, unnecessarily exposing patients to toxicity, researchers said Thursday.

Trump campaign against bureaucracy alarms federal workers

Washington - A hiring freeze. Curbs on communications. Denunciations of "waste, fraud and abuse." US officials are alarmed by the launch of President Donald Trump's drive to rein in the federal bureaucracy.

Trump names critics of China, regulation for economic posts

Washington - President-elect Donald Trump named billionaire Carl Icahn, a vocal critic of what he calls government overregulation, to serve as a special advisor to overhaul "strangling regulations.

CEO of China's Baidu summoned over student death

Bejing - Authorities have summoned the head of Baidu after the death of a student who sought a cancer cure on the Chinese search giant, reports said Tuesday, prompting a barrage of criticism for prioritising paid search results.

Panama Papers reveal Hong Kong's murky financial underbelly

Hong Kong - Jasmine Li was still a student when she opened her first offshore bank account through Mossack Fonseca Hong Kong, but the shady world she entered that day had been part of the city's underbelly for decades.

U.S. rejects 'living will' plans of most large US banks

New York - US regulators rejected Wednesday the bankruptcy contingency plans of five giant US banks that aim to avoid taxpayer bailouts if they fail.

Op-Ed: American universities have a value problem

When something is essential, can it really be regulated by the free market? The demands and pace of change in the modern economy mean that decent-paying jobs require ever more skills, knowledge, and training to be filled.

Pacific trade talks fail to end in TPP deal

Washington - Delegates negotiating a vast Pacific free-trade agreement failed to reach a final deal after several days of intense talks in Hawaii, in a setback to US President Barack Obama.

After 15 years, game consoles are officially legal in China again

China has officially relaxed its formal ban on video game consoles which has been in place since 2000 and has prevented the sale of dedicated gaming devices. It was feared playing games could be detrimental to the development of children.

Whistleblower-friendly anonymous router mysteriously vanishes

The creators of a Wi-Fi router that would have helped whistle-blowers to mask their real locations when online have mysteriously cancelled the project without explanation. The news was announced on the firm's Twitter account, to disbelief from followers.

China bars 'big' shareholders from selling: Regulator

Shanghai - China's market regulator has barred major shareholders and executives of listed companies from selling their shares for the next six months, it said in a statement, the latest government action to stem a slide in the markets.

EU promises more transparency to meet eurosceptic demands

Brussels - The European Commission promised Tuesday to slash bureaucracy and increase transparency to meet demands led by eurosceptic Britain that the EU mind its own business and give member states more say.

Amazon is testing delivery drones at a secret Canada site

Amazon is reported to be testing and developing its new drone delivery service at a secret site in Canada amid growing frustration with the U.S. government's prohibitive attitude towards the technology.

Republicans aim to reform U.S. environment agency

Washington D.c. - Republican-led efforts to change the U.S. Environmental Protection Agency’s handling of science are underway. However, there is little sign that Obama will agree to the new measures.

$386m missing as Hong Kong Bitcoin exchange closes

Over $386 million has allegedly been stolen by Hong Kong-based Bitcoin exchange MyCoin as it closed down this week, leading to claims that the company is withdrawing funds owed to over 3,000 investors.

Demographics key to GOP resurgence in California Special

Sacramento - As Californians prepare to go to the polls, the Democrats will once again rule the state, but with anger towards big government and the GOP concentrating on demographics, the Democratic dominance could soon be ending.

'Sex drive-in' hailed as a success in Switzerland

Zurich - A government-backed experiment in legal prostitution may forever change the sex industry in Switzerland, if not greater Europe.

Compounding pharmacy regulations put in place

Boston - Two years after a deadly nationwide meningitis outbreak linked to a compounding pharmacy in Massachusetts, Governor Deval Patrick has signed a law aimed at addressing a "gray area" between state and federal oversight of pharmacies.

Snapchat settles with U.S. regulators

The messaging service Snapchat has settled with U.S. regulators over charges it deceived users when it promised their messages would disappear.

Europe's cybersecurity policy settings under attack

Brussels - Even as Europe powered up its most ambitious ever cybersecurity exercise this month, doubts were being raised over whether the continent's patchwork of online police was right for the job.

European parliament adopts financial markets rules

Strasbourg - The European Parliament adopted new rules Tuesday to tighten the regulation of financial markets in order to stop rampant speculation, including on foodstuffs.
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An Occupational Health Branch (OHB) poter on the paint stripper aisle in a California hardware store...
An Occupational Health Branch (OHB) poter on the paint stripper aisle in a California hardware store cites the risks associated with methylene chloride.
California Department of Public Health
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colemama via Flickr.com
Butcher in Bali preparing dog meat. (2013)
Butcher in Bali preparing dog meat. (2013)
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