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Govt rethinks $5m misconduct penalty

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AAP The federal government has backed down on a plan to slug corporations and individuals a $5 million penalty for market misconduct. Corporate Law Minister Chris Bowen flagged in December the idea of multiplying by five the penalty for breaking sharemarket trading rules. But he
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Govt rethinks $5m misconduct penalty

Corporate Law Minister Chris Bowen flagged in December the idea of multiplying by five the penalty for breaking sharemarket trading rules. But he reneged on his plan, outlined in a consultation paper , after stockbrokers lobbied the government to keep the existing penalty at $1

Back down on $5m misconduct penalty

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Corporate Law Minister Chris Bowen flagged in December the idea of multiplying by five the penalty for breaking sharemarket trading rules. But he reneged on his plan, outlined in a consultation paper, after stockbrokers lobbied the government to keep the existing penalty at $1
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Insurers Test Market as Obama Opens Annuity Door for 401(k)s

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By Margaret Collins President Barack Obama on Feb. 1 called for a change in government rules to allow adding annuities to 401(k) retirement plans. While the annuities offer a steady stream of income in exchange for upfront payments, the price for peace of mind may be higher fees and
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U.S. Renewable Credit Market May Pass Before Carbon, Group Says - Bloomberg.com

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A national renewable electricity standard might pass Congress this year as a stand-alone measure, Thaddeus Huetteman , chairman of the Environmental Markets Association , said in an e- mail. Such a standard was part of cap-and-trade legislation that passed the House last year and stalled
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Toyota Pedal Recall May Spur U.S. to Require New Brake Systems - Bloomberg.com

So-called brake override systems, which disengage the engine when the brake and throttle are both depressed, are now on many newer autos that use computers instead of cables to control acceleration. Toyota said last month it is adding the equipment on most models, in response to a Sept. 29

Fate Therapeutics, MIT Scientist Get Stem Cell Patent (Update1) - Bloomberg.com

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The patent was announced by Fate Therapeutics Inc., a closely held San Diego company that has an exclusive license from MIT and Jaenisch, one of the company’s founders. Shinya Yamanaka , a researcher at Kyoto University in Japan, “was the first one to do it, we had the idea first,”
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More Than Half U.K. Lawmakers Asked to Repay Expenses (Update2) - Bloomberg.com

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Feb. 4 (Bloomberg) -- More than half of lawmakers in the U.K. House of Commons were asked to repay expenses as Parliament tried to free itself of its biggest scandal in modern times. The Daily Telegraph newspaper started publishing a series of stories about the expenses on May 8 last
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More Than Half of U.K. Lawmakers Asked to Repay Excess Expenses - Bloomberg.com

Thomas Legg, the retired civil servant who led an investigation into the expense claims, said 392 lawmakers and former lawmakers had been asked to repay 1.12 million pounds ($1.77 million) that had been paid out to cover costs for their housing, cleaning bills and furniture. The Daily Telegraph

Wang Fortune Claimant Arrested After Ruling on Will, RTHK Says - Bloomberg.com

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Chan was taken into custody yesterday, according to a person familiar with the case who declined to be identified. A man aged 50 surnamed Chan is being held after his arrest for alleged forgery of a document, Hong Kong police spokeswoman Odelia Tam said today, declining to identify the man
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