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iTWire - Sarah Court appointed deputy chair of corporate regulator, ASIC

iTWire
Thursday, 29 April 2021 14:00
Sarah Court appointed deputy chair of corporate regulator, ASIC
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Sarah Court, newly appointed Deputy Chair of ASIC
ACCC Commissioner Sarah Court has been appointed to the position of Deputy Chair at Australia’s national corporate, markets, financial services and consumer credit regulator, the Australian Securities and Investments Commission (ASIC),
The Treasurer, Josh Frydenberg, announced Commisson Court’s appointment on Thursday, with Australian Competition and Consumer Commission (ACCC) Chair Rod Sims saying her appointment to ASIC was “a well-deserved reflection of the experience, expertise, and wisdom Sarah brings to the table,”
“ASIC’s gain is very much our loss. Sarah was first appointed as an ACCC Commissioner in May 2008 and reappointed for an impressive third term in 2018,” Sims said. ....

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Officials defend recovery plan for troubled PACE Credit Union as financial pressures build

Officials defend recovery plan for troubled PACE Credit Union as financial pressures build
theglobeandmail.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theglobeandmail.com Daily Mail and Mail on Sunday newspapers.

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MTN loses Shs50.7 billion licence case against UCC

Daily Monitor
Wednesday April 28 2021
MTN had been challenging a levy that was instituted by UCC as transitional licence charge from October 21, 2018 and June 30, 2020. PHOTO/FILE
Summary
In a letter dated July 22, 2020, UCC directed MTN to pay licence fee for the transitional period between October 21, 2018 and June 30, 2020 worth $14.14m. However, MTN challenged the directive in court.
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Court has dismissed with costs, a case in which MTN was challenging the legality of the Uganda Communications Commission (UCC) directive to pay $14.14m (more than Shs50.7b) as transition licence fee for the three year transitional period.
High Court Judge Musa Ssekaana ruled that there was no impropriety in UCC’s decision to impose transition fees based on a pro-rated assessment and that the same was fairly arrived at and guided by the amount paid for of $100m in the currently renewed licence. ....

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UK regulator hires Legal & General IM's Sacha Sadan for new sustainability role

2 Min Read
FILE PHOTO: Nikhil Rathi CEO of the London Stock Exchange UK Division arrives at 10 Downing Street in London, Britain January 11, 2018. REUTERS/Peter Nicholls
LONDON (Reuters) - Britain’s financial markets regulator has hired one of the UK’s most important corporate governance figures, Legal & General Investment Management’s Sacha Sadan, to lead the development of its sustainable finance policy, it said on Monday.
The Financial Conduct Authority said Sadan, who had served as head of investment stewardship with Britain’s biggest asset manager for around a decade, will take up the newly created role of director of environment, social and governance this summer. ....

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Bank watchdog to help further manage risk

China's top banking and insurance regulator said on Friday it is joining hands with local governments in tackling risks faced by some regional financial institutions and the regulator will hold majority shareholders responsible if it discovers that said shareholders carried out practices such as related-party transactions or insider trading. ....

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