Indian settlement system robust: Market regulator

September 8th, 2009 Ohio AG says $475M Merrill Lynch settlement readyCOLUMBUS, Ohio — Ohio Attorney General Richard Cordray says $475 million in settlement money is ready for distribution to Merrill Lynch investors in Ohio and elsewhere. Cordray on Tuesday announced the completion of the financial company's settlement with the State Teachers Retirement System.

July 14th, 2009 NEW DELHI - In the wake of the Satyam scandal, an expert group constituted by the government has suggested setting up an institution which would act both as a regulator and an educational institution for valuation professionals. "The proposed institute would function more as a regulatory and technical body and play a promotional and facilitation role to ensure high quality education and examination system for the valuation profession," said a government statement.

July 7th, 2009 NEW DELHI - The market regulator has permitted telecom major Bharti Airtel and South Africa's MTN to go ahead with their proposal to buy each other's shares in a $25 billion deal without the latter having to make an open offer in Indian equities markets. In a notification issued Tuesday, the Securities and Exchange Board of India (SEBI) said: "The proposed deal structure does not require an open offer since MTN's shareholding in Bharti will only be through GDRs (global depository receipts)." SEBI also said the open offer will be applicable only once the GDRs are converted to local shares with voting rights.

July 3rd, 2009 Antigua's new top financial regulator steps asideST JOHN'S, Antigua — The man appointed to replace Antigua's disgraced financial regulator is stepping aside to avoid a possible conflict of interest. Everett Christian was tapped for the job last week, after officials fired his predecessor Leroy King for alleged ties to a $7 billion Ponzi scheme by Texas businessman R.

June 25th, 2009 NEW DELHI - India Thursday said it has developed an effective strategy to strengthen its regulatory mechanism and safety system for its aviation sector following recommendations from international authorities. "The Directorate General of Civil Aviation (DGCA - India's aviation regulator) has developed an effective strategy to strengthen and develop a robust regulatory mechanism and a safety oversight system.

June 18th, 2009 Geithner: Fed best suited for super regulator roleWASHINGTON — Treasury Secretary Timothy Geithner says the Federal Reserve is best suited to become a super-regulator that would oversee financial firms so big and influential that their failure could topple the economy. Some lawmakers want to give the job to a council of regulators.

May 14th, 2009 NEW DELHI - J.S. Sarma, a member of the Telecom Disputes Settlement and Appellate Tribunal, Thursday took over as the chairman of the Telecom Regulatory Authority of India (TRAI), succeeding Nripendra Mishra.

May 13th, 2009 BP Prudhoe Bay enters $29.5M settlement dealNEW YORK — BP Prudhoe Bay Royalty Trust said Tuesday it entered into a $29.5 million settlement agreement with BP Exploration (Alaska) Inc., a unit of British oil company BP PLC. BP Exploration will pay the $29.5 million to the trust.

May 6th, 2009 NEW DELHI - India's civil aviation suppliers market, including components and maintenance, is seen growing annually at 16.1 percent over the next five years to top $3.89 billion, says a new research by a global consultancy. 'Low manufacturing and labour costs are expected to boost outsourcing to India.

April 30th, 2009 China announces rules for financial newsBEIJING — Beijing announced rules that ease controls on foreign financial information providers Thursday under an agreement with the U.S., Europe and Canada, but said those already operating in China must apply for permission to continue. The rules eliminate a requirement that foreign providers must work through a Chinese agent and reduce the amount of information they must disclose about their operations.

April 20th, 2009 NEW DELHI - The market regulator Monday barred Gujarat Heavy Chemicals Ltd (GHCL) from dealing in the securities market, saying it had inflated its shareholding in its quarterly filings to exchanges. Securities and Exchange Board of India (SEBI) also directed GHCL chairman Sanjay Dalmiya, managing director Ravi Shanker Jalan and company secretary Bhuwneshwar Mishra not to buy, sell or deal in the securities market until further orders, the regulator said in a statement.

April 20th, 2009 NEW DELHI - The market regulator Monday barred Gujarat Heavy Chemicals Ltd (GHCL) from dealing in the securities market, saying it had inflated its shareholding in its quarterly filings to exchanges. Securities and Exchange Board of India (SEBI) also directed GHCL chairman Sanjay Dalmiya, managing director Ravi Shanker Jalan and company secretary Bhuwneshwar Mishra not to buy, sell or deal in the securities market until further orders, the regulator said in a statement.

March 26th, 2009 WASHINGTON - US President Barack Obama's administration, in a massive overhaul of the country's financial regulatory system, is seeking the power to keep watch on all types of financial firms and to seize failing companies integral to the health of the system. US Treasury Secretary Timothy Geithner unveiled the plans in congressional testimony on Thursday, arguing that the current financial turmoil has proven the system is 'too unstable and fragile' to be allowed to manage itself.

February 26th, 2009 NEW DELHI - The country's telecom watchdog, Telecom Regulatory Authority of India (TRAI), Wednesday said broadcasters should not have any control over distribution operations and vice-versa. 'Any entity having more than 20 percent equity participation in a broadcasting company cannot have more than 20 percent equity in a distributor (operators of cable, DTH, or mobile TV operators) and vice-versa,' TRAI said in a statement.

January 21st, 2009 NEW DELHI - India's fear of getting downgraded by the US aviation regulator, Federal Aviation Administration (FAA), looms large as the latter has refused to postpone its India tour beginning Feb 22, according to a government official. 'They (FAA team) will reach India according to the schedule worked out earlier.