The European Union (EU) is continuing with its plans to make a new ’super regulator’ for banks and other financial institutions operating in Europe.President of the EU Commission Jose Manuel Barroso announced the proposals – which include the formation of a new European Systemic Risk Board – yesterday (September 23rd).The go came ahead of this week’s meeting of G20 leaders in Pittsburgh and the EU said in a statement: “The European system can also inspire a global one and we will argue for that in Pittsburgh.”Employees from the European Central Bank would be used to staff the risk board and the EU has also suggested forming three new regulatory bodies to oversee exchanges, the insurance industry and banks.Mr Barroso remarked that the aim is to ensure the “dark days of autumn 2008″ do not happen again.Last week, it emerged that the EU may force Lloyds Banking Group to sell its Halifax arm as compensation for the funding it was given by the UK government during the credit crunch.
Posts Tagged ‘Global One’
EU proposes new bank ’super regulator’
September 25th, 2009 
Before You Invest 
Posted in Finance Fraud 
Tags: Aim, Autumn, Banking Group, Banks, Credit Crunch, Dark Days, Eu Commission, European Union, Financial Institutions, Global One, Insurance Industry, Jose Manuel Barroso, Lloyds, Pittsburgh Employees, Proposals, Regulatory Bodies, Risk Board, September 23rd, Systemic Risk, Uk Government 
No Comments »SEC secures assets freezes over suspected forex fraud
May 28th, 2009 Before You Invest The Securities and Exchange Commission (SEC) has secured an emergency court order freezing the assets of a Texas A&M finance professor, a Houston-based lawyer and certified public account and two firms over a suspected foreign exchange investment fraud. In a statement, the regulator said Robert D Watson and Daniel J Petroski have been charged with defrauding investors by using forged bank records to give the impression that they were making “spectacular returns” on forex trading. The pair are alleged to have raised more than $19 million since July 2006 from clients who were told they would earn profits through foreign currency trading program called Alpha One, which was purportedly owned by their firm, PrivateFX Global One. Investors were also told the pair would use a so-called “deal clearing company” owned and controlled by Mr Watson called 36 Holdings. The SEC’s complaint contests that Mr Watson and Petroski claimed to have made annual returns of over 23 per cent and had never had a losing month since the inception of Alpha One. The claims were not supported by valid financial records, the regulator added.
Posted in Finance Fraud Tags: Alpha One, Amp, Assets, Contests, Finance Professor, Foreign Currency Trading, Foreign Exchange, Foreign Investment, Forex Trading, Global One, Inception, Investment Fraud, Investors, Lawyer, Mr Watson, Petroski, Profits, Sec, Securities And Exchange, Securities And Exchange Commission No Comments »SEC Halts Foreign Exchange Offering Fraud by College Professor and Houston-Based Lawyer
May 27th, 2009 Before You Invest The Securities and Exchange Commission has obtained an emergency court order to freeze the assets of Texas A&M finance professor Robert D. Watson, who resigned from that position last month, as well as Houston lawyer and certified public accountant Daniel J. Petroski and two firms. They are charged with defrauding U.S.
Posted in Finance Fraud Tags: Alpha One, Bank Accounts, Certified Accountant, Certified Public Accountant, College Professor, Currency Trading Software, Finance Professor, Foreign Currency Trading, Foreign Currency Trading Software, Foreign Exchange Trading, Global One, Holdings Ltd, Houston Lawyer, Inception, Performance Claims, Petroski, Professor Robert, Robert Watson, Securities And Exchange Commission, Software Program No Comments »
