Day: September 27, 2015

Oligarchs and Orchestras: Inside Luxembourg’s Secretive Low-Tax ‘Fortress of Art’ Warehouse; Fraud allegations against Swiss entrepreneur Yves Bouvier, have cast a shadow on Luxembourg’s and Singapore’s Le Freeport, a high-security, low-tax warehouse for art

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Oligarchs and Orchestras: Inside Luxembourg’s Secretive Low-Tax ‘Fortress of Art’ Warehouse; Fraud allegations against Swiss entrepreneur Yves Bouvier have cast a shadow on Luxembourg’s Le Freeport, a high-security, low-tax warehouse for art
By John Letzing And Max Colchester
24 September 2015
SENNINGERBERG, Luxembourg—Last year, David Arendt stood in a reinforced concrete warehouse at Luxembourg’s airport and welcomed wealthy collectors to his “fortress of art,” complete with high security, minimal taxes and discretion. Mr. Arendt warned that it would fill up quickly. Continue reading →

Sebi may impose floor price for stock splits to curb market manipulation

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Sebi may impose floor price for stock splits

JAYSHREE P UPADHYAY Mumbai

25 September 2015

Business Standard

The Securities and Exchange Board of India (Sebi) is likely to set a floor price for companies to qualify for stock splits in order to curb market manipulation. One of the proposals allows splits only in stocks priced above ~500 consistently for the previous six months. In a stock split, a company divides its existing shares and although the number of shares increases, their total value remains intact. Continue reading →

Stash: SEBI to look into illicit arbitrage

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Stash: SEBI to look into illicit arbitrage
21 September 2015
Widening its probe into suspected tax evasion and laundering of black money through stock markets, regulator Sebi is looking into illicit ‘arbitrage’ through derivatives trading from offshore locations. Also under the scanner are manipulation through ‘client code modifications’ in the past, although there has been a complete clampdown on this route for the past couple of years.

The Securities and Exchange Board of India (Sebi) was so far focusing on trades during the fiscals 2013-14 and 2014-15 in its fight against misuse of stock market platform for tax evasion and laundering of illicit funds. Continue reading →

‘Sebi merger to help curb manipulation’

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‘Sebi merger to help curb manipulation’
Shrimi Choudhary and Tarun Sharma
25 September 2015

The commodities regulator Forward Markets Commission (FMC) will be history soon and the market will have its new modern and autonomous regulator in Securities Exchange Board of India (Sebi) next week. The last chairman of FMC, Ramesh Abhishek says the merger will bring more certainty and transparency in the entire commodity space. In an interview with Shrimi Choudhary and Tarun Sharma, he said the market would see more new products and participants, thanks to the collaboration. Continue reading →