Latest news with #financialpenalties
South China Morning Post
23-07-2025
- Politics
- South China Morning Post
Hong Kong lawmakers unanimously approve bill for tougher misconduct penalties
Hong Kong lawmakers have unanimously given the green light for a bill that will expand the scope of financial penalties targeting legislators suspended for misconduct, as part of efforts to better monitor their performance. Eighty-eight lawmakers on Wednesday voted for the Legislative Council (Powers and Privileges) (Amendment) Bill during a 36-minute session that included speeches from four legislators and Chief Secretary Eric Chan Kwok-ki. The amendment will allow Legco to withhold pay and allowances from suspended lawmakers for reasons other than those specified in the existing Rules of Procedure. 'This is precisely another example of Legco strengthening its self-governance with higher standards. It fully reflects the strong advantages of the 'patriots administering Hong Kong' principle,' said Chan, the city's No 2 official. '[The new rules] will help lawmakers perform their duties more efficiently, enhance the efficiency and transparency of the council, and allow Legco to better perform its constitutional duties.' All 89 of the city's legislators attended the meeting. All of them gave a green light to the amendment, with the exception of Legco President Andrew Leung Kwan-yuen, who typically abstains from voting to maintain impartiality. The new rules will take effect when the new Legco term starts on January 1, next year.
Bloomberg
15-07-2025
- Business
- Bloomberg
European Gas Edges Lower as Traders Assess Trump's Russia Threat
European natural gas edged lower as traders digested US President Donald Trump's threat to hit Russia with financial penalties if there's no deal on peace in Ukraine. Benchmark futures hovered near €35 a megawatt-hour after Trump threatened to impose 'severe tariffs' of about 100% if Russia doesn't strike an agreement to end hostilities within 50 days. For now, market participants don't see the pressure posing a meaningful obstacle to Moscow's energy exports.
Bloomberg
14-07-2025
- Business
- Bloomberg
Fastenal Meets Estimates, Trump Threatens Tariffs on Russia
On Bloomberg Businessweek Daily, Tim Stenovec and Norah Mulinda discuss President Donald Trump's to impose stiff financial penalties on Russia if it does not end hostilities with Ukraine, while pledging fresh weapons supplies for Kyiv. They also spoke with Fastenal CEO Daniel Forness about the company's earnings, and discussed the President's latest criticism of Fed Chair Jerome Powell. On today's episode: Senior Fellow at the Brookings Institution Angela Stent, Fastenal CEO Daniel Forness, and Bloomberg News Federal Reserve Reporter Amara Omeokwe (Source: Bloomberg)
Bloomberg
14-07-2025
- Business
- Bloomberg
Trump Renews Backing of Ukraine with Missiles, Russia Threats
Angela Stent, senior fellow at the Brookings Institution, breaks down the potential impact of Trump's threat of financial penalties on Russia if Putin does not agree to a peace deal with Ukraine within 50 days. (Source: Bloomberg)
Arabian Business
07-07-2025
- Business
- Arabian Business
UAE Central Bank fines exchange houses $1.12m for anti-money laundering violations
The Central Bank of the UAE has imposed financial penalties totalling AED4.1m ($1.12m) on three exchange houses for failing to comply with anti-money laundering (AML) and counter-terrorism financing (CFT) regulations. The sanctions, issued under Article (14) of Federal Decree Law No. (20) of 2018, follow detailed examinations by the Central Bank, which found significant compliance shortcomings. These included deficiencies in implementing adequate AML/CFT procedures and policies intended to detect and prevent illicit financial activity. CBUAE fines The action is part of the CBUAE's broader mandate to supervise and regulate financial institutions across the United Arab Emirates, ensuring they operate in accordance with local laws and the highest international standards. By holding exchange houses accountable, the Central Bank aims to maintain transparency, financial stability, and compliance with global AML/CFT frameworks.
