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Legal action launched against Central Bank over Israel bonds investments
Legal action launched against Central Bank over Israel bonds investments

BreakingNews.ie

time3 hours ago

  • Business
  • BreakingNews.ie

Legal action launched against Central Bank over Israel bonds investments

An politician has launched legal proceedings against the Central Bank of Ireland over claims that investors in Israeli bonds could be legally complicit in genocide in Gaza. Lawyers for Social Democrats TD Gary Gannon lodged legal papers against the Central Bank in Dublin on Thursday. Advertisement It is alleged that the Central Bank's failure to ban the marketing, distribution and sale of Israeli bonds exposes investors to risks that have not been disclosed to them. Letters, seen by the PA news agency, sent to Gabriel Makhlouf, the governor of the Central Bank, in recent weeks by McGarr Solicitors, acting on behalf of Mr Gannon, claim that these risks were not made known to investors in prospectuses for bonds, which had been approved by the Central Bank. The letter warns Mr Makhlouf that the 'continued issuing and trading of those bonds gives rise to significant investor protection concerns, in light of the complicity of Israel in genocide in Gaza, and the use of the proceeds of the Israeli bonds to facilitate the same'. It goes on to say that the Central Bank is empowered under EU law to prohibit the marketing, distribution or sale of the Israeli Bonds. Advertisement 'We call upon it to do so,' the letter adds. There have been ongoing calls for the Central Bank to end its role in approving Israel Bonds for sale in the EU. The bank is the designated authority in relation to the sale of Israel bonds in the EU, and has determined the securities meet the standards of the bloc's prospectus regulations. Israel bonds have been advertised as supporting the country's economy and, more recently, websites promoting the securities emphasise their role in supporting Israel's military operations in Gaza. Advertisement Protesters and opposition parties have called for legislation that would give Ireland the power to refuse the sale of Israeli 'war bonds' over human rights concerns. They say the bonds are intended to fund the war in Gaza, while Ireland has an obligation under the Genocide Convention to use all means likely to have a deterrent effect on those suspected of preparing genocide. Mr Gannon issued the letters to the bank about investor protection concerns relating to the bonds, as well as the use of the bonds to finance the war in Gaza at the end of last month. In response, the Central Bank, through its solicitors, said that there is 'no valid legal basis' to support Mr Gannon's purported judicial review proceedings. Advertisement They claimed that Mr Gannon lacked locus standi to bring the proceedings and that the bank is satisfied it does not meet the relevant criteria to exercise its powers under EU law. The letter also claims that judicial review proceedings would lead to court time being 'expended unnecessarily and substantial costs being incurred'. However, Mr Gannon said the Central Bank has the power to stop the sale of the bonds. Ireland Demolition of Smyth's pub in D4 gets go-ahead desp... Read More The judicial review was formally issued on Thursday afternoon. Advertisement Speaking at a pro-Palestinian rally on Saturday, Mr Gannon said: 'Politicians have spoken too long, all the while a genocide is being inflicted upon the population of Gaza. The demands today are clear – act. He added: 'On Tuesday, I'll be lodging papers against the Central Bank. Genocide can never be considered a technical matter – our only duty is to prevent it and punish those responsible.'

PBBK Stock Alert: Halper Sadeh LLC Is Investigating Whether the Sale of PB Bankshares, Inc. Is Fair to Shareholders
PBBK Stock Alert: Halper Sadeh LLC Is Investigating Whether the Sale of PB Bankshares, Inc. Is Fair to Shareholders

Globe and Mail

time08-07-2025

  • Business
  • Globe and Mail

PBBK Stock Alert: Halper Sadeh LLC Is Investigating Whether the Sale of PB Bankshares, Inc. Is Fair to Shareholders

Halper Sadeh LLC, an investor rights law firm, is investigating whether the sale of PB Bankshares, Inc. (NASDAQ: PBBK) to Norwood Financial Corp is fair to PB Bankshares shareholders. Under the terms of the proposed transaction, PB Bankshares' shareholders will have the option to elect to receive either 0.7850 shares of Norwood common stock or $19.75 in cash for each common share of PB Bankshares they own. The election is subject to proration to ensure that, in the aggregate, 80% of the transaction consideration will be paid in the form of Norwood common stock. Halper Sadeh encourages PB Bankshares shareholders to click here to learn more about their legal rights and options or contact Daniel Sadeh or Zachary Halper at (212) 763-0060 or sadeh@ or zhalper@ The investigation concerns whether PB Bankshares and its board of directors violated the federal securities laws and/or breached their fiduciary duties to shareholders by failing to, among other things: (1) obtain the best possible consideration for PB Bankshares shareholders; (2) determine whether Norwood is underpaying for PB Bankshares; and (3) disclose all material information necessary for PB Bankshares shareholders to adequately assess and value the merger consideration. On behalf of PB Bankshares shareholders, Halper Sadeh LLC may seek increased consideration for shareholders, additional disclosures and information concerning the proposed transaction, or other relief and benefits. We would handle the action on a contingent fee basis, whereby you would not be responsible for out-of-pocket payment of our legal fees or expenses. Halper Sadeh LLC represents investors all over the world who have fallen victim to securities fraud and corporate misconduct. Our attorneys have been instrumental in implementing corporate reforms and recovering millions of dollars on behalf of defrauded investors. Attorney Advertising. Prior results do not guarantee a similar outcome.

Kuwait's CMA launches regulatory framework for emerging companies on KSE
Kuwait's CMA launches regulatory framework for emerging companies on KSE

Zawya

time02-07-2025

  • Business
  • Zawya

Kuwait's CMA launches regulatory framework for emerging companies on KSE

KUWAIT CITY - Kuwait's Capital Markets Authority (CMA) has officially launched a new regulatory environment to support the listing and trading of emerging companies on the Kuwait Stock Exchange (KSE), in cooperation with Boursa Kuwait. The initiative includes the creation of a dedicated platform for these companies, alongside key amendments to existing listing rules. In a statement released on Tuesday, the CMA confirmed that the move is part of broader efforts to adopt international best practices, promote capital market development, diversify investment tools, and enhance both market competitiveness and transparency — all aimed at bolstering investor protection. The approved amendments focus on strengthening listing standards by requiring companies to maintain certain conditions, including minimum thresholds for free float shares and their market value. These measures are designed to improve liquidity and ensure sustained compliance with regulatory obligations. The Authority emphasized that supporting emerging companies is crucial to driving economic growth and aligns with Kuwait's broader strategic vision. The newly launched market will offer an attractive financing environment for smaller and growing enterprises while providing investors with fresh opportunities governed by high transparency standards. The regulatory framework is the result of a comprehensive study conducted by the CMA, which formed the basis for drafting specific rules to govern the emerging companies market. The platform is intended to serve as both a support system for these businesses and a dynamic investment space in line with global benchmarks. The CMA also underscored the importance of continuously evolving the rules that govern listing conditions. This includes safeguarding investor interests by removing companies that fail to meet their obligations and ensuring adequate liquidity by enforcing minimum requirements for free float shares in both the primary and secondary market segments. Additionally, the Authority reaffirmed its commitment to enhancing executive regulations that protect investors and empower small shareholders to actively participate in corporate decision-making processes. This latest move is seen as a significant step toward further modernizing Kuwait's financial sector and creating a more inclusive and diversified capital market landscape. Arab Times | © Copyright 2024, All Rights Reserved Provided by SyndiGate Media Inc. (

Securities regulator proposes ending chargebacks in distribution of investment funds
Securities regulator proposes ending chargebacks in distribution of investment funds

CTV News

time26-06-2025

  • Business
  • CTV News

Securities regulator proposes ending chargebacks in distribution of investment funds

A magnifying glass enlarges the holographic image of Parliament Hill's Peace Tower on a $20 bill issued by the Bank of Canada, shown in a display case at the Bank of Canada Museum in Ottawa, Wednesday, Sept. 4, 2024. THE CANADIAN PRESS/Justin Tang TORONTO — The Canadian Securities Administrators is proposing to stop the use of chargebacks in the distribution of investment funds. The regulatory group says investment dealers sometimes receive an upfront commission or payment when their client buys securities. It says chargebacks happen when those clients redeem those securities before a fixed schedule, requiring the dealer to pay back all or part of the upfront commission or payment. The CSA says it's concerned that poses a conflict of interest as it may incentivize advisers to prioritize their own interest over that of their clients. CSA chair Stan Magidson, who also is chair and CEO of the Alberta Securities Commission, says the proposed amendments prioritize investor protection and foster fairer compensation practices. The council of the securities regulators of Canada's provinces and territories has published the proposed amendments for a 90-day comment period, which closes on Sept. 24. --- This report by The Canadian Press was first published June 26, 2025.

Meyer Wilson Becomes Meyer Wilson Werning
Meyer Wilson Becomes Meyer Wilson Werning

Associated Press

time16-06-2025

  • Business
  • Associated Press

Meyer Wilson Becomes Meyer Wilson Werning

Celebrating Courtney M. Werning's Leadership and the Firm's Legacy of Investor Protection COLUMBUS, OH / ACCESS Newswire / June 16, 2025 / The nationally recognized law firm Meyer Wilson is proud to announce its new name: Meyer Wilson Werning. The change honors Principal Courtney M. Werning for her leadership, judgment, tireless advocacy, and central role in the firm's national reputation for excellence in representing investors harmed by financial advisor misconduct. About Meyer Wilson Werning Founded in 1999, Meyer Wilson Werning is a nationally recognized law firm representing investors in securities arbitration and litigation, as well as consumers in class actions. The firm has recovered more than $350 million for clients across the country and is committed to fighting financial misconduct and protecting individual investors. Leading with Purpose: Courtney M. Werning's Commitment to Individual Investor Advocacy Werning has been with the firm for more than 14 years, starting as a summer associate during law school. Since then, she has established herself as one of the country's leading securities arbitration attorneys-respected for her skill, integrity, and fierce advocacy on behalf of individual investors nationwide. Adding her name to the firm reflects not only her professional stature, but also the vital role she plays in the firm's continued growth and success. 'Courtney's name on the door reflects what everyone who works with her already knows-she's one of the best in the country at what she does,' said David P. Meyer, Founding Principal. 'She leads by example, and her commitment to our clients, our values, and our team makes this a natural and meaningful evolution for the firm.' Werning co-leads the firm's Investor Claims Practice Group, representing individuals nationwide in cases involving financial advisor negligence, fraud, and misconduct. She is widely respected by opposing counsel, mediators, and regulators, and currently serves on FINRA's National Arbitration and Mediation Committee as well as the Board of Directors for the Public Investors Advocate Bar Association (PIABA)-where she is on track to serve as President. 'Having my name added to the firm is an incredible honor,' said Courtney M. Werning. 'I'm proud of the work we do and thankful to be part of a team that's dedicated to standing up for individual investors and holding financial institutions accountable.' Matthew R. Wilson, Principal, added: 'Courtney has earned this every step of the way-through her legal ability, her character, and the way she consistently delivers for our clients and our team. This isn't just a new name; it's a reflection of who we are and the strength of the team we've built together.' Contact InformationPatrick McEuen Director of Operations 614.756.6637 Related Video SOURCE: Meyer Wilson Werning press release

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